JPMorgan is reportedly tracking junior bankers’ – Business News
JPMorgan is reportedly utilizing pc tracking to monitor junior bankers’ hours — evaluating their self-reported time sheets with inside knowledge to catch underreporting amid ongoing considerations about Wall Streeters working themselves previous the purpose of exhaustion.
The nation’s largest lender will give junior investment bankers computer-generated stories measuring how long they really work, the Financial Times reported.
The estimates draw on workers’ digital footprints — together with video calls, keystrokes and scheduled conferences.
JPMorgan CEO Jamie Dimon is rolling out new tech to trace junior bankers’ hours amid scrutiny of Wall Street workloads. Houston Chronicle by way of Getty Images
“Much like the weekly screen time summaries on a smartphone, this tool is about awareness — not enforcement,” JPMorgan advised FT in a assertion.
“It’s designed to support transparency, wellbeing, and encourage open conversations about workload.”
The Post has sought remark from JPMorgan.
In 2024, JPMorgan and Bank of America imposed limits on junior bankers’ hours after the death of a 35-year-old BofA affiliate who reportedly labored 100-hour weeks on a $2 billion merger.
JPMorgan imposed a cap of 80 hours per week whereas Bank of America rolled out a new timekeeping device that requires associates to specify how their hours had been spent.
JPMorgan Chase is utilizing inside knowledge to trace junior bankers’ hours and evaluate them with self-reported time sheets. Corbis by way of Getty Images
Jonathan Alpert, a New York-based psychotherapist who works with Wall Street shoppers, mentioned junior bankers already report “intense pressure” from long hours, being consistently obtainable and worry of falling behind. He warned that added monitoring might reinforce a “never off the clock” mindset — and “accelerate burnout rather than prevent it.”
“The deeper issue is cultural,” Alpert advised The Post on Friday. “On Wall Street, overwork is still often treated as a signal of commitment. Until that changes, tools like this risk treating the symptom, not the cause.”
Months earlier, Leo Lukenas III, 35, a former Green Beret and married father of two younger youngsters, died of a coronary heart assault in 2024 after logging workdays of at the least 16 hours at BofA.
Social media outcry laid the blame on the ft of Lukenas’s supervisor, Gary Howe, BofA’s co-head of the financial establishments group. Howe deleted his LinkedIn account shortly after Lukenas’s death.
Lukenas was so worn down by his grueling schedule that he had been searching for a new job within the weeks main up to his death.
In 2013, BofA enacted an 80-hour cap on junior bankers’ work hours following the death of a 21-year-old intern, Moritz Erhardt.
Leo Lukenas III, a Bank of America affiliate, died in 2024 from a heart-related situation after reported 100-hour work weeks. Linkedin / Leo Lukenas
Erhardt, who interned on the bank’s London places of work, died of what officers described as an epileptic seizure. Reports indicated that he’d labored till 6 a.m. three nights in a row earlier than his death.
Carter McIntosh, a 28-year-old Jefferies affiliate in Dallas, was discovered useless in his condo in January of final yr.
His death was later ruled an unintentional overdose from fentanyl and cocaine. Colleagues and media stories mentioned he had been working close to 100-hour weeks.
A subsequent investigation by the Wall Street Journal discovered that BofA managers had been flouting the company’s 80-hour workweek cap.
Wall Street’s grind tradition has long demanded punishing hours from junior bankers, with analysts and associates routinely pulling all-nighters to fulfill consumer deadlines and chase multimillion-dollar offers.
The workload is typically seen as a ceremony of passage in an industry the place stamina and round the clock availability are prized as a lot as technical talent.
The payoff could be monumental: entry-level bankers can earn up to $200,000 in wage and bonuses, with far greater paydays down the road.
Moritz Erhardt, a Bank of America intern, died in 2013 after an epileptic seizure following days of intense work.
That profitable upside — together with exit alternatives in personal equity and hedge funds — continues to attract recruits regardless of growing scrutiny of the toll the job can take.
Carter McIntosh, a 28-year-old Jefferies banker, died of an unintentional overdose in 2025 as colleagues mentioned he had been working close to 100-hour weeks. Facebook / Carter McIntosh
The concern of brutal hours burst into public view in 2021 when a group of first-year Goldman Sachs analysts circulated a leaked slide deck detailing brutal situations together with 100-hour work weeks, persistent sleep deprivation and deteriorating mental health.
The presentation, which shortly went viral, described junior bankers as “abused” and pushed high executives to acknowledge the issue.
Goldman’s management responded by pledging to implement the 80-hour weekly cap and improve working situations, however complaints about long hours have endured throughout Wall Street.
