First In, Last Out: Beating the Addiction of Goldman Sachs

Jamie Fiore Higgins spent almost twenty years at Goldman Sachs, reaching the pinnacle of her field by earning the role of managing director. One of just 8 percent of Goldman employees to earn the managing director title, she was the highest-ranking woman in her department. She ran the trainee and internship programs, was active in the Women’s Network Committee, and managed top equity clients and $100 billion in stock.

Today, Jamie joins the show to discuss the abuse and misogyny she experienced in a toxic Wall Street environment, what led to her departure, and how she regained her own sense of moral clarity.

📺 Watch on YouTube

https://youtu.be/OKE85JB1CuQ

Key Takeaways

00:48 – Jonathan introduces today’s guest, Jamie Fiore Higgins, who joins the show to talk about how her familial history impacted the formation of her own beliefs about money

08:14 – Jamie’s experience at Goldman Sachs

17:34 – First In, Last Out, misogyny, and buying into the lifestyle

23:15 – Jamie reflects on losing her own sense of moral clarity

32:14 – The Spreadsheet of Freedom

37:07 – Advice Jamie would give to young female professionals starting out

40:10 – Fixing the industry itself

46:05 – Hard work, mentorship, and doing things your way

49:11 – Jamie’s current project

51:24 – The last thing Jamie changed her mind about and one thing she would want others to know about her

55:31 – Jonathan thanks Jamie for joining the show and lets listeners know where to connect with her

Tweetable Quotes

“I think, for me, that mindset that I kinda inherited from my father and a little bit from my grandfather is what fueled my almost twenty years at Goldman. And then I started seeing what that cost me.” (06:50) (Jamie)

“I did well at first because I have a really good head for numbers, I have a work ethic – I was first in, last out – and I was really good with my clients. But what I realized at this part of my career, when I was five to seven years in, is what really gets you catapulted at Goldman is keeping your mouth shut.” (19:52) (Jamie)

“In order to be successful, I had to put up and shut up. And what I realized was that, over time, when you’re constantly living against your values, when you’re constantly feeling like you’re acting in opposition to what your gut says, it just takes its toll.” (22:19) (Jamie)

“I felt like Charlie Bucket. I felt like I had just gotten the Golden Ticket to the Chocolate Factory. And from the first day they said, ‘Getting a job at Goldman Sachs is harder than getting into Harvard. So, thank your lucky stars that you did something right.’” (27:51) (Jamie)

“Goldman was like an addiction…I couldn’t just walk away cold turkey. I was addicted to the prestige. I was addicted to making my family proud. I was addicted to saying I was Jamie from Goldman.” (33:32) (Jamie)

“Until these firms marry their wonderful goals of ‘We believe in equality, blah, blah, blah.’ They need to marry those wonderful soundbytes with actionable steps. And I think in order to do that, you need a curiosity and you need a humility.” (42:04) (Jamie)