Gonzalo Lopez Larrainzar, a bespoke tailor/Bloomberg
The move comes two years after JP Morgan made a similar announcement, the time-honoured banking uniform of suit and tie is beginning to take a back seat to business casual.
Tuesday 12, March 2019
Goldman Sachs said that it was loosening its approach to office attire, moving to a firm wide flexible dress code, asking employees to dress in a manner that is consistent with your clients’ expectations.
Matt Levine, Bloomberg columnist, said that the official dress code at Goldman has been business casual since at least the early 2000s, but the secret to these vague and shifting rules, is that there is only one – ‘Goldman’s dress code is that you should dress the way you’re supposed to dress at Goldman.’
This demotion-of-suits development may be celebrated by some, and it is seen generally as a PR tactic to lure younger talent that has been raised on a sweats-and-hoodie Silicon Valley-style ethos. For most people, however, it makes the morning trawl of one’s closet that much more perplexing. Since the term business casual was popularised in the 1990s, its opaque nature has confused people of all levels of fashion expertise. Picking a suit every day is just simpler.
But a new dress code brings new opportunities, too—new ways for men and women to display their wealth in less traditional forms of sartorial one-upmanship. There will be new ways to flaunt status and express personality than the old signifiers—a Brioni suit, that hard-to-get Rolex, or Ferragamo loafers.
Here, we dissect some potential work scenarios the Goldman employee is likely to encounter—and how to dress for them. Either way, as the boss said, we trust you will consistently exercise good judgement in this regard.