Canada - Investigating IB Unpaid Overtime Class Action
I am a lawyer based in Ontario, investigating potential class action litigation against IBs for non-compliance with Ontario’s Employment Standards Act, specifically regarding overtime for analysts and associates.
If you previously held an analyst or associate position in Ontario and left due to excessive hours (e.g., 80–100 hours per week, 6–7 days per week), I would like to discuss this with you. Recognizing that there may be concerns about potential career implications, particularly for early-career analysts and associates, I would like to speak with former analysts and associates who have recently transitioned to a different career path (e.g., within the last 2-3 years). However, I am also open to hearing about current practices.
If your experience aligns with these circumstances, I invite you to contact me confidentially (Eighty-One West Law PC). All discussions will remain private, and there is no obligation to proceed—merely an opportunity to assess potential rights.
Can you shed more light on the law here?
Sure. Information, not advice. The ESA provides exemptions for specific industries and jobs, as well as special rules for many roles (meaning they don't have to be paid OT). For example, in the case of professionals, roles such as lawyers and articling students, as well as accountants and accounting students, are exempt from daily and weekly limits on hours of work, daily rest periods, time off between shifts, overtime pay, and other ESA rights & benefits. There is a lengthy list of roles under the ESA that are exempt; however, the IB analyst and associate roles have not been designated as exempt professional roles.
Accounting being in there and IB not being in there is comical
You know everyone signed waivers for this stuff?
I didn't. Thanks much. That raises an interesting question of enforceability.
Enforcing what? This isn’t a “gotcha”, people take and leave these jobs willingly
you cant sign away labour rights...
Yeah good luck with that lol
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