Bank of America limits junior banker hours to 80: Here’s the reason

Remember pulling all-nighters in college? Now imagine doing that for a living. That’s the reality for many young investment bankers. But things might be changing at Bank of America.

The bank is taking steps to limit the hours its junior employees work. Why? It’s a complex situation.

The 80-Hour Limit: What’s the Deal?

Bank of America wants to keep its analysts and associates to an 80-hour workweek. Yes, you read that right. 80 hours. That’s like having two full-time jobs.

To put it in perspective, most Americans work around 34 hours a week. These young bankers are putting in more than double that. Think about it: Is that sustainable?

Why Now? A Wake-Up Call

There’s a bigger story here. Last year, a 35-year-old junior banker at Bank of America died. He’d reportedly been working 110-hour weeks. While the coroner didn’t directly link his death to overwork, it definitely raised eyebrows.

It forced the bank to rethink its culture and how it manages its employees. A tragic event, no doubt. But one that spurred action.

Who’s Watching the Clock?

Here’s where it gets interesting. Bank of America is tasking senior bankers with making sure the junior folks don’t exceed the 80-hour limit. These senior bankers, at the director level and above, are now essentially timekeepers.

Imagine having your boss’s boss making sure you’re not working too much. A bit awkward? Maybe. Necessary? Perhaps.

Big Money, Big Hours

Let’s be clear, investment banking is a lucrative field. Junior bankers can make anywhere from $160,000 to $475,000 a year. Serious cash. But it comes at a cost.

Working 80 hours a week means long days, every day. 7 a. m. to 8:30 p. m. , six days a week. Is the money worth the sacrifice?

More Than Just a Number

Bank of America says they want their junior bankers to have a good experience. They want them to learn and grow. Hard to do when you’re constantly exhausted, right?

The bank is also looking at using AI to help with tasks like creating presentations. Anything to save time. A smart move?

Not All Sunshine and Roses

There’s another side to this story. Bank of America recently laid off 150 junior investment bankers based on performance. Ouch. The pressure is still on.

What do you think? Is this a real change, or just a PR move? Can you really put a limit on ambition?