Finance
Junior Bankers Log 100-Hour Weeks Again, And Tensions Are Up
- Trainee workloads swell as rainmakers chase an upturn in deals
- Underlings at JPMorgan, UBS and BofA debate how to game system
Commuters exit the Wall Street subway station.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
To see the stress mounting again on Wall Street’s junior bankers, just look a half-rung higher, at staffers.
Not staff, as in employees, but staffers, the unheralded deputy managers who dole out assignments to trainees. When investment bankers or clients want something done, staffers find underlings for the drudgery. That’s getting trickier as banks exit a slump in deals with thinner headcount and big ambitions for landing new mandates.