JPMorgan just capped junior bankers’ hours—at 80 per week

 

Orianna Rosa Royle

Updated Thu, September 12, 2024 at 12:53 PM PDT 2 min read

Two of Wall Street’s largest investment banks, JPMorgan (JPM) and Bank of America (BAC), are cracking down on the industry’s infamous always-on culture, which has recently been linked to the death of a Green Beret turned investment banker.

Now, JPMorgan will limit junior banker hours to 80 per week in most cases, as confirmed by the company to Fortune—a first for the bank.

This is in addition to the company’s existing “pencils down” period from 6 p.m. Friday to noon Saturday and a guarantee of one full weekend off every three months.