JPMorgan has a color-coded spreadsheet for bankers who work too much

From Quartz:

According to a Bloomberg report on the experience of young bankers, those who spend more than 75 hours at the office in a week are coded red; those who spend less are marked blue or yellow.

Jeff Urwin, who co-runs corporate and investment banking at the company, looks at the spreadsheet weekly. If people keep coming up red, he may call them or their manager to find out if they’re working on something that justifies the hours. If it doesn’t, a manager might get a warning.

Full article.

 

As great as the article describes the tech industry, is not as fulfilling as it sounds lately. There are more implications to the technology outburst, and bankers will be needed for quite a long time. JPM is only following other BB banks that found a way to "advertise" their "less" hours policy within the bank. The work still needs to get done no matter what.....

 

A lot of this could be solved with less face time and more flex time. Tons of time spent in the office is ideal, either waiting for corrections or ducking around so you don't look like you are leaving early. Just let people come in late/leave early or take random time off when things are slow to offset the long hours when things heat up.

 
TNA:

A lot of this could be solved with less face time and more flex time. Tons of time spent in the office is ideal, either waiting for corrections or ducking around so you don't look like you are leaving early. Just let people come in late/leave early or take random time off when things are slow to offset the long hours when things heat up.

Hits the nail on the head. Smart M&A bankers seem to fail to grasp the concept.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

Agree on having people start later but you can't just have random "shifts" of people staying late or starting earlier... This just isn't how the deal process works. There is a done of deal-centric IP generated and only those working on a deal will know what's going on. Bringing on outside personnel would be more inefficient than the current system, which is why that system hasn't been adopted.

 
rufiolove:

Agree on having people start later but you can't just have random "shifts" of people staying late or starting earlier... This just isn't how the deal process works. There is a done of deal-centric IP generated and only those working on a deal will know what's going on. Bringing on outside personnel would be more inefficient than the current system, which is why that system hasn't been adopted.

I want to ask you this question then - so if someone working in IB says they worked 90 hours a week, how many hours do they actually "do work" and not sit around waiting for things to happen, or waiting for documents etc. In my humble Corp Fin experience at a well known F50, I am in the office 50 hours a week on average, but there is no way I am working for 50 actual hours. Granted being in the office for 90 hours sucks, but I was just curious.

Thanks.

 

Imagine having to brief the "night crew" on every minor piece of info every day.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Hi, Nice information.....

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