JPM is apparently about to roll out a firm-wide policy regarding the work-life balance for Jr. bankers. The plan is supposedly going to set in place 1 weekend per month that each jr banker will receive off (compared to the 36 hour/week rule GS announced in November.) Do you guys expect more banks to follow suit and implement similar plans? Will these plans only be seen at the BB level or do you think they eventually trickle down to boutiques and MM firms?
Link to the story here: http://dealbreaker.com/2013/12/christmas-come-early-for-jp-morgan-junio…
I think it'll slowly trickle down. Junior pay just hasn't outpaced other job options enough to keep the killer hours.
Which would you rather have: the GS or JPM rule? Option to travel someplace cool once a month vs. option to always go out on friday / recover on saturday?
I'd prefer the JPM rule. Would love to take off 1 weekend /month to go home, skiing, hiking trip, etc.
2 days off a month would be a lot better. Seems like you would be able to get a lot more done then just the 9 to 9 rule at GS.
From what I've heard from a bud there, this was already true in Healthcare. Interesting to see it go firmwide. I'd certainly rather have a guaranteed weekend monthly. The killer is the uncertainty. Yeah, the 36-hour period is a great move. No, it isn't the panacea to all an analyst's ills.
You don't know if you're going to get legitimately blown up on Friday afternoon and void the blackout period. You may start seeing emails stacking up all Saturday and know that your Sunday-Tuesday is going to absolutely suck. The variability is what kills. Granted, it's the nature of the business, but one weekend per month? That would mean I could add a vacation day to make Thanksgiving a four-day protected period, and again at Christmas. God, the possibilities.
EDIT: did not originally read the article, glad to see it corroborates what my boy said.
I like the idea of a small break more often. But, if you could legitimately implement the strategy APAE speaks of, a 4 day break, no telling what you could do with that kind of time, I never even dreamed of the possibility.
can anyone who currently works in GS ibd share if the GS policy is followed?
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