Moelis & Co., the investment bank founded by Ken Moelis, is giving its young investment bankers a $10,000 allowance for 2021 while encouraging workers to take time for themselves on Friday nights into Saturday at noon.
Executive directors, vice presidents, associates and analysts will get a $5,000 payment, then two installments of $2,500 each that the firm is encouraging to be used on improving mental health, people familiar with the matter said, asking not to be identified discussing personnel matters. Moelis is also encouraging bankers to take one Saturday a month away from work for dealmakers, except during active deals or client requests.
