Summary List Placement
Across Wall Street, financial firms are competing with one another to retain junior bankers, providing perks and incentives for young talent to remain on the hook.
The push among investment banks and private-equity firms to incentivize bankers to stay comes after a grueling year of working from home that includes high deal volume. Recently, the industry’s youngest talent has made its feelings known.
Whether it’s leaked pitch decks from junior employees laying out their dissatisfaction with their working conditions, or widespread associate departures at some firms like Apollo Global Management, pressures are mounting for execs to respond to their grievances.
We’re keeping tabs on how firms across the worlds of private-equity and banking are responding by rolling out special perks, bonuses, and raises across junior ranks.
CEO David Solomon promised to protect junior bankers’ Saturdays off after a survey detailing “inhumane” conditions went viral. The February survey was developed and conducted by 13 first-year analysts at Goldman Sachs about hours logged and working conditions.
The findings included estimates for this year on the number of hours worked in a week (98), hours slept each night (five), and time they get to sleep (3 a.m.). All respondents said their …read more
Source:: Businessinsider – Finance