Goldman Sachs Group Inc. has introduced a policy that will require its junior bankers to certify every three months that they have not accepted employment offers elsewhere, according to information circulated on 9 July 2025. The initiative is intended to curb aggressive recruiting by private-equity and other buyout firms, which have been hiring analysts only months into their training in a practice known as on-cycle recruiting. By compelling periodic attestations of intent to remain, the Wall Street firm hopes to protect the investments it makes in early-career staff and reduce attrition at a time when competition for talent has intensified. The move follows reports that rival financial sponsors have stepped up efforts to lure analysts away soon after they start, offering higher pay and faster promotion paths.