Voice of Experience: Alison Mass, Co-head of the Financial Sponsors Group in the Investment Banking Division, Goldman Sachs

“Clients want to do business with people they like and trust, and you can only build trust over a long period of time,” says Goldman Sachs’ Alison Mass.

Mass began her career in the fast-paced industry at Drexel Burnham after earning her MBA in 1981 from New York University. Then in 1990, Mass went to a competitor before joining Goldman Sachs in 2001 as a partner.

“I’ve been fortunate to have had the same client base for most of my career, and have seen the private equity industry grow almost from inception,” she says, recalling that when she started in the 1980s, there were few funds over $1 billion. “I’ve been able to grow with my clients and invest in relationships that span decades. It’s been a privilege to watch private equity firms evolve over that period of time. Most professionals don’t ever get that kind of an opportunity.”

But with that continuity often comes the question of how she can remain engaged and energized when working in the same area for so long.

She says that some of the best advice she ever received was to invest in relationships with people – both with clients and internally. “The people at Goldman are brilliant, fun and diverse and that is what keeps me motivated and interested.”

And she remains energized by her current role advising her clients as the alternative asset management space evolves. “It’s fascinating to talk with my clients about how they will continue to be market leaders in the years to come.”

Success for Women

Mass acknowledges that progress has been slow for the advancement of women in the 33 years she’s been in the industry. One reason she sees for the slow pace is that women don’t advocate for themselves as aggressively as they could. She believes that’s a self-inflicted barrier that must be overcome.

“It’s not a coincidence that the groups around Goldman Sachs that are led by women have more women in them. Some women don’t want to be in a male-dominated environment, where there are not as many role models and therefore they gravitate toward these other groups that are led by women.”

She also believes that a huge piece of career success is in how you present yourself, and advocates for women to invest in public speaking and other skills that underscore their authority. “There are all sorts of resources to get better at those things. Nobody is born having presence as a leader or looking professional or speaking with authority. Those are all learned.”

When it comes to career choices, Mass believes enjoying what you do is vital. “The industry is all encompassing, and the lifestyle is tough so you have to choose a career you love.”

And she stresses that loving your career in investment banking doesn’t have to mean you get excited about reading balance sheets, for example. “You have to love learning, and working with diverse teams of people to help clients address their needs and challenges.”

The Formula

Over the years Mass has found a successful method to achieve both her personal and professional goals. In her 30s, when she was feeling nervous that she couldn’t succeed at work with her other priorities weighing on her, she hit upon the formula that changed her thinking.

She acknowledges that you can’t be A+ at everything, every day, so she measures with what she calls the “weighted average week theory,” which involves looking at the week as a whole, to earn that A average overall.

“You have to proactively manage your time and make sure that you’re consciously not letting anything fall for more than 48 hours,” she says. So if Mass is traveling overseas and being an “A+” banker that probably means she is not an A+ mom and wife those days. But she can come home from the trip and go to dinner with her husband, and, when her children were younger, do the school pick up the next day, to help raise her weekly average.

Mass says this mentality can be a struggle for high achievers who are used to always wanting to be an A+. In school or work, they can study or work harder, or talk to someone who can help them. “But as your commitments grow exponentially, there is nobody who can create more than 24 hours in a day for you. You have to get comfortable achieving the balance over a period of a week.”

A responsibility to give back

In addition to your duties at work and at home, Mass believes that at some point in your career it’s time to give back to your internal and external communities. “I believe men and women alike have a responsibility to give back in terms of sharing success stories and acting as mentors,” she says.

True to her beliefs, she is active in a number of Goldman Sachs’ formal and informal mentoring groups, including the Women’s Career Strategies Initiative where she is a senior sponsor. She also takes an active role in recruiting top talent.

In addition, Mass pursues charitable endeavors: She serves on the Board of Trustees of Excellence Boys and Excellence Girls Charter Schools, which are college preparatory public charter schools in Bedford-Stuyvesant, Brooklyn. She is also a member of the NYU Stern Board of Overseers and the Board of Directors of The Mount Sinai Children’s Center Foundation.

Making Time for Family

Along the way, Mass learned the importance of maintaining interests outside of work. “When I first started at Goldman Sachs, they underscored the need to block out time for your personal life on your schedule.”

Early in her career, she and her brother, another partner at Goldman Sachs, bought tickets to the ballet. “Knowing I had paid for the tickets already was the push I needed to get out on a Friday night and do something cultural in this beautiful city.”

She shares this theory with others in the firm. “I tell them to proactively put things on their calendar so they don’t sleep or waste away the weekend. If you love cooking or SoulCycle, book a Saturday class. If you’ve paid for it, you are more likely to go.”

Mass, who notes that one of her major achievements is 25 years of marriage to her “hilariously fun and great husband,” has also successfully raised twins, who are now seniors in college. By using her proactive calendar management tool, she’s been able to attend tennis matches and other key events, while never sacrificing client priorities.

She also makes time for weekly Sunday night dinners with her dad, and always anticipates her annual ski vacation.

For her, it’s all part of the goal to average an A in all aspects of her life.

By Cathie Ericson