Matt Levine, Columnist

Levine on Wall Street: Go Home, Bank of America

Investment banking is so much fun that you can't get anyone to leave the office. I'm starting a small-batch artisanal stock exchange. Some people went to a law school near Boston.

January 13, 2014 at 12:35 PM UTC

By Matt Levine

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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It's hard to get junior investment bankers to go home .

This is a story about two crazy things. One is Bank of America's copycat effort to get analysts and associates to stop working all the time. You'll recall that Goldman mandated that junior employees take one day of rest (Saturday, of course) per week, and that JPMorgan now requires one full weekend off a month. Bank of America discourages weekend work generally (sure it does!), but now has a new policy of especially discouraging working four weekend days a month. Which four? Oh, you know, whichever ones don't conflict with work. "Sorry boss, I'm taking one of my four days off this Saturday." "Hmm, well, we have a pitchbook to do, why don't you take next Saturday?" "Sure thing boss." Et cetera. This is a dumb policy.