New fathers working at Goldman Sachs just got some good news.
The giant investment bank is doubling its paid parenting leave for non-primary caregivers, Business Insider reports, citing an internal memo the bank sent out to employees.
Starting this week, new non-primary parents at Goldman (GS) will now get four weeks of paid leave in the first year after their child’s birth instead of two weeks. Goldman offers 16 weeks of paid maternity leave; same-sex partners are eligible for the bank’s parenting leave policies.
Laura Young, the head of Goldman’s wellness programs, told Business Insider that several factors went into the bank’s decision to offer more parenting leave to new dads:
‘Mainly, we realized that we have a number of employees where both spouses or partners are working and in order to provide opportunities for them to balance both their work and personal lives, it was important to provide individuals the opportunities to spend more time with their families,’ Young said.
Goldman is not the only Wall Street fixture to offer paid leave for new dads, as Citigroup (C) offers two weeks of paid leave and Bank of America (BAC) offers 12 weeks. Last year, Change.org made headlines by offering 18 weeks of fully-paid leave to all parents, while both California and New Jersey have installed state-wide, mandatory paid leave programs.