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NextGen Magazine

 
 

Goldman Sachs Offering $20,000 to Employees for Fertility Treatments

By:
Chris Gaetano
Published Date:
Nov 5, 2019
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Investment bank Goldman Sachs has announced a new policy that will give employees trying to start a family up to $20,000 for fertility treatments, according to Financial News London, as well as 26 weeks of paid parental leave regardless of gender, caregiver status or method of parenthood (birth, adoption, surrogacy). The policy applies to all offices worldwide, which means many offices that had been operating under local rules, such as New York City, which offered 16 weeks, will be getting a boost. Specifically, the company is offering a $10,000 stipend for egg retrieval and a $20,000 stipend for egg donation. 

The new offers are reflective of overall changes in the types of benefits companies offer as women make up larger proportions of the workforce. Women have made up the majority of bachelor's degree holders since the 1980s, a proportion that has only grown since then; ever since the late 1990s, about 57 percent of degree holders have been women. Yet it took until the late '90s before women represented 45 percent of the total college-educated labor force, and until 2013 to reach 49 percent. 

Consequently, between 2015 and 2018, the number of companies offering egg freezing as a benefit grew from 6 percent to 17 percent. Companies offering paid parental leave, meanwhile, rose from 24 to 40 percent in the same time period.