Great news for overworked bankers pulling all-nighters! Following a Wall Street Journal investigation, JPMorgan Chase and Bank of America (BOA) are taking steps to address long working hours among junior employees.
JPMorgan will limit junior bankers’ hours to 80 per week and maintain protected periods from 6 p.m. Friday to noon Saturday, mirroring the New York state limit for medical residents.
BOA will introduce a new timekeeping tool requiring detailed daily logging of hours and tasks.
The changes, aiming to improve work-life balance, come amid ongoing scrutiny. It follows the Journal’s report highlighting unsafe working conditions, including the tragic death of a 35-year-old associate at BOA, who worked multiple 100-hour weeks.