Leading the Way with Karey Dye

 

Leading from Work
 

How did your career develop?

When I graduated from law school, I accepted a position at a law firm, Vinson & Elkins, in Houston. I wanted to do oil and gas law since that is what my father did, but there were no openings in that department. A colleague suggested I give tax law (personal tax and tax exempt organization planning) a try since I really like people. It was a perfect fit and I became a subject matter expert working with some of the largest tax exempt organizations and wealthiest individuals in Texas.  I then came to Goldman Sachs (with Stacy Eastland and Jeff Daly who I continue to thank each day) to start a wealth advisory services practice in Private Wealth Management and became the designated philanthropy specialist. When Institutional Client Solutions launched for Endowments and Foundations, John Mallory asked me to join the effort to bring non-investment industry knowledge to our clients and teams from a governance and nonprofit field perspective. As our business continues to grow, it’s been so exciting to increase the ways in which we can help clients with philanthropy and to be able to help them accomplish important things for society.

What’s the most important career advice you’ve received? 

I gave myself some advice many years ago when advice from others didn’t align with my personal and career goals. For example, I’ve been told: “make a 5‑year plan,” “wear this type of clothing,” “be more like the men at the office,” “don’t go part-time to balance work and young children and your husband’s career,” and “quit laughing so much.” Making hard choices based on what felt right to me and my family at the time has allowed me to achieve success in my career and life, while staying true to my values and authentic self.

What is your role at Goldman Sachs, and how do you support clients?

I oversee our philanthropic practice within Private Wealth Management. We help clients strategically plan so that they can accomplish their philanthropic goals. This includes advice about structures, taxes, goal alignment and including family in philanthropy. Our team also serves as a liaison and curator of organizations that can support our clients during their philanthropic journey. These include academic institutions, philanthropy centers and philanthropy advisors. I also serve as the President of the Goldman Sachs Philanthropy Fund which is our donor advised fund. In addition, the team assists endowment and foundation clients on governance and nonprofit field developments to complement their investing strategies.

How do you lead by example?

I work really hard to put our clients’ interests first so we can help them identify the best solution to fit their needs. It often keeps me up at night! I strive to be accessible, supportive and kind to my colleagues, recognizing that pretty much everyone is fighting some type of battle that is often unknown to us. Finally, working in a fast-paced and intense environment, I try to keep things in perspective. When I first started at the firm, Phil Murphy made the observation that “things are never as good as they seem nor as bad as they seem.” I have found that to be true over and over again. I also try to lead a balanced life – spending time with family and friends, serving on nonprofit boards and participating in volunteer activities (I love being in the Garden Club!) and getting a good amount of exercise and rest. 

What are some interesting themes and/or trends that you see in your area of expertise?

There are so many! Client interest in philanthropy is booming. The volume of people committing substantial amounts of money to the community is incredible. It creates a lot of opportunity to deliver valuable insights and solutions to help make the most impact.

What is your favorite thing about your job?

It is a privilege and a true joy to be able to help clients have a positive impact on the world through philanthropy. I also enjoy working with such talented, committed and interesting people at Goldman Sachs. 

 

Leading from Home

 

What advice would you give to your younger self?

To quote Chicago Tribune journalist Mary Schmich, "Wear sunscreen!"

How do you find motivation and inspiration?

Challenge motivates me. All types – solving a difficult problem for a client, decorating the house, cooking the perfect meal, showing my athletic trainer that I can do something, getting my golden retriever puppy to stop gnawing on the kitchen floorboards or my hands… the list goes on. Beauty in the world (broadly defined) inspires me. Creative people motivate and inspire me.

What is one thing you make time for every week?

Hosting Sunday night dinner for my family at my house. I started this tradition long ago by hosting my parents when my daughters were little. Now that my girls are all grown up, they now make time to come over for our Sunday supper. 

What is your favorite weekend activity?

Sleeping in!

How do you stay healthy – mentally, physically or both?

I love to exercise. Running, swimming, lifting weights, hiking, skiing... you name it. Being active is a great stress reliever as is being in nature. For me, staying healthy mentally means adopting a gratitude mindset. I am so grateful for all of the opportunities that my family and I have had and for those that make them possible.

What is your favorite book, movie, podcast or artwork?

My daughter Margaret is an art teacher, and she has a lot of friends who are artists. I love their work and the unique ways in which they express themselves.

What is one app on your phone that you can’t live without and why?

Maps! I have the world’s worst sense of direction. My husband is genuinely shocked that I always return home from my work travels. If you’re supposed to go right, I will for sure go left! 

 

Leading for the future

 

How do we provide more leadership opportunities to women in the workforce?

Support a culture where leadership qualities are not defined by outdated gender stereotypes. Specially, how leaders should look or sound. 

What are some of your professional and personal goals?

I have a lot of goals. A focus at this stage of my career is to support women who are experiencing difficult transitions (having a new baby for instance). I want all women to know that although things may seem overwhelming, they can do it.

What suggestions would you give to women who are starting their careers?

Whatever you are, be a good one! By that I mean you should put in the hard work and take time to invest in yourself so that you have expertise and experience that can add value. Select a job because it plays to your strengths and interests. Choose a workplace where you can truly be yourself. After my interview at Goldman Sachs, I called my husband and said, "I would do this job for free!" If you have a family and both spouses work, invest in a good support system at home so that you don’t have to worry while you are at work. Balance work with family, friends and community activities.

Where do you see yourself in 5-10 years?

Remember, I don’t make 5-year plans!