Goldman Sachs is making plans to bring some full-time campus hires into the office later this year for their onboarding and orientation, with the aim of providing both remote and in-person components.
In a memo sent on March 22 which was viewed by Insider, the firm told some incoming employees who are entering through its campus recruiting program to make plans to move within commuting distance of their designated office sites.
Goldman said in the memo that its incoming full-time recruits who have just been hired out of university would have a provisional start date of July 26 for their employment.
A person familiar with the company's plans said that that date applies to incoming employees based in the US and some international locations who will be working within the consumer and wealth management and asset management divisions. Other business lines will have other start dates.
The orientation regime will hybridize both virtual and in-office elements if it is safe to go through with them, according to the document. It also said that Goldman Sachs was considering guidance from medical advisors and taking local government guidelines into account in order to determine the safest course of action.
Goldman Sachs suggested that full-time workers begin to make plans to relocate within a reasonable traveling distance to their office sites in advance of the kick-off of orientation, and also told incoming hires they should expect to receive another update on the firm's evolving plans by May.
A final update about any potential changes to the July 26 start date would come by June. Orientations are the first step toward transitioning into a full-time role at the company, and can take place over the course of several months before day-to-day work commences.
Earlier this week, Goldman Sachs also announced in a memo dated March 29 that it is planning to bring interns who can safely travel within proximity of their respective sites into the office this summer as well, after they undergo a one-week virtual training program.
Goldman CEO David Solomon said, while speaking in February at a virtual Credit Suisse forum, that he didn't "want another class of young people arriving at Goldman Sachs in the summer remotely." He also called long-term remote training for junior financial services professionals "an aberration."
Meanwhile, other financial services firms are also taking measures to bring some employees back to the office by summer, whether they are interns or full-time recruits.
Bloomberg reported on Tuesday that Bank of America is planning to bring its crop of 1,800 new full-time hires right out of college into the office by October, after virtual training and orientation beginning in July.
And Insider previously reported that JPMorgan Chase is aiming to bring hundreds of interns in its investment-banking and sales and trading divisions into the office by summer as well, per a source familiar with the firm's plans.