JP Morgan to hire 190 bankers and employees to combat burnout

Apr 22, 2021 | 12:25 p.m.

JPMorgan plans to add nearly 190 workers to its investment banking ranks as Wall Street firms seek to lighten the burden of entry-level bankers who have been plunged into action during the pandemic, according to Bloomberg.

The largest bank in the United States has hired 65 analysts and 22 partners globally, and plans to add 100 bankers and support staff, according to a person familiar with the matter.

The effort was announced internally at an open meeting on Tuesday with Jim Casey and Ves Raghavan, global co-chairs of investment banking at JPMorgan,

It was mentioned in detail by the media in reference to the New York Times that published the information

The shift comes after Goldman Sachs bankers revealed their heavy workloads Approximately 100 working hours per week.

On the occasion, the young bankers said they sleep five hours a day and that their relationships with friends and family have been affected by the time they spend on their duties.

Credit Suisse and Wells Fargo are among the companies offering one-time bonuses, and Jefferies Financial Group said it is giving Peloton and Apple products to entry-level bankers.

JPMorgan will not join its peers in rewarding bankers with special benefits.

In addition to hiring more employees, the bank will take steps that include encouraging people to leave the office at 7:00 p.m. Monday through Friday and imposing at least three weeks off a year.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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