Former Goldman Sachs VP Lindsay MacMillan: What Did She Expect ...

 In a long-form essay in Business Insider a woman who went from intern to Vice President at Goldman Sachs in six years puts a knock on the culture. However, doesn't the value system at that Wall Street firm seem like quite the meritocracy to facilitate such a rapid journey? 

THE POST-GOLDMAN SACHS LINDSAY MACMILLAN

The woman is Lindsay MacMillan who left Goldman Sachs two years ago. On LinkedIn (where surprisingly she has only 4,012 followers) she certainly touts that previous association. Currently she sings for her supper by being an author, coach and TedX speaker. 

But with those few followers I wonder how successful she has been post-Goldman Sachs. 

Her 2022 e-book, which she says is one reason she left Goldman Sachs to write - "The Heart of the Deal" - only received 80 customer reviews and ranks in Amazon hell (443,414 on Kindle). 

Her 2023 paperback - "Double Decker Dreams" - has only received 39 customer reviews and talk about Amazon hell. It ranks 1,375,990.

So a legitimate question: Might MacMillan's diatribe have the agenda to promote the publishing, coaching/consulting and speaking she does to earn a living. 

EVERYONE KNOWS WHAT GOLDMAN SACHS IS ABOUT

But a more to-the-point question is: What did MacMillan expect when taking a job at Goldman Sachs? What she pushes back on are aspects of the daily worklife there and the values which are well-known. She surely would have bunked into them when having been an intern. 

They include:

Long hours. Those are typical of professional services and not only on Wall Street. To succeed in such sectors you have to be physically and psychologically configured to thrive on a demanding schedule. And that's that. 

In Big Law, chair of Paul, Weiss Brad Karp's signature is how little sleep he needs. My private joke when I was on retainer to Paul, Weiss is that if you wanted to reach Karp email him at 2 AM New York time. He would get back to you quickly - with a thought-out response.

There are those superhuman types who dominate professional services. It's embedded in the ethos.

Male-dominated culture. Maybe someday that will change. But right now any professionals who want to protect their mental health don't enter it unless they are willing to accept it and conform. 

That's how power operates. Iconic sociologist Erving Goffman stematized in "Presentation of Self in Everyday Life" the principle that those with the most power define (that is set the rules for) the situation. Goffman points out the even the butcher in a rural area has that reality down cold and adjusts his persona to fit with each different power setting. 

MacMillan had to put together a persona to succceed. And that she did, including the interest in golf. You bet she put under wraps what she labels her "feminine sensitive self." When I had been employed full-time in the Fortune 50 I never assumed anyone in the loop wanted to experience my "feminine sensitive self." I took golf lessons.

Petty stuff. Every organization has its cast of characters, ranging from bullies who get away with it to micromanagers. MacMillan was reprimanded for not being acessible during vacation. So? Next time she probably was accessible. 

TWO YEARS AGO MACMILLAN GUSHED ABOUT WLB, INCLUDING ONLY WORKING 50 HOURS WEEKLY.

Interestingly the MacMillan story has changed from two years ago, documents New York Post. It notes that, yes, two years ago, she also published an essay in Business Insider. In that she gushed about her wonderful WLB. She claimed to only work 50 hours a week at Goldman Sachs. Also she said she was not unhappy there.

NOT MOVING THE DIAL

The prestigous well-paying world of professional services has a long way to go to create a culture that uses all kinds of talent. That's the objective of diversity.

But essays like MacMillan's probably won't move the dial much on that.  Actually, they may be counterproductive. They seem too promotional of a rigid point of view and perhaps pushy with a private agenda.

In my coaching, I recommend that clients be very self-aware of what cultures they can conform to without losing their sense of self or health (mental and physical).

Limiting beliefs? Self-defeating? Stuck? Complimentary consultation with Coach Jane Genova (text/phone 203-468-8579, janegenova374@gmail.com)