JPMorgan And Bank Of America Restrict Junior Staff’s Hours Amid Concerns Of Grueling Work Culture
Junior bankers often find themselves caught in a cycle of extreme working hours and poor work-life ... [ ] balance, putting in upward to 100 hours per week.
In response to growing concerns about the demanding work culture in investment banking, industry giants JPMorgan and Bank of America are implementing new measures to curb excessive working hours for junior bankers.
JPMorgan is introducing an 80-hour weekly cap for most junior investment bankers, while BofA is rolling out a new timekeeping tool to monitor work hours more closely, according to the Wall Street Journal.
These changes come in the wake of allegations that junior bankers were instructed to falsify their work hours, the report stated.
The investment banking industry, long renowned for its potential to generate immense wealth and prestige, has come under scrutiny for its grueling work culture. This relentless pursuit of success comes at a steep price for junior bankers. They often find themselves caught in a cycle of extreme working hours and poor work-life balance, putting in upward to 100 hours per week, in an effort to get noticed and climb the corporate ladder.
While senior dealmakers enjoy more flexible schedules, their younger counterparts are frequently burdened with tedious, time-consuming tasks that keep them tethered to........
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