JPMorgan Chase & Co. plans to boost the number of junior investment bankers it employs by about 10 percent and provide them with “protected weekends” to reduce their workload, a person familiar with the matter said. Jeff Urwin, the New York-based company’s global head of investment banking, announced the changes on an internal conference call today, said the person, who didn’t say how many people would be affected and asked not to be identified because the new policies aren’t public. Jennifer Zuccarelli, a spokeswoman for JPMorgan, declined to comment. All of the major Wall Street firms are planning to increase investment-banking staff in 2014, according to Jeanne Branthover, the head of financial-services recruitment at Boyden Global Executive Search in New York. They are also trying to protect their best employees from poaching as average pay at the biggest banks declines. “Business is better and they’ve stayed lean for so long,” Branthover said. “People are burned out.” [Bloomberg, earlier]

Comments (9)

  1. Posted by guest | December 18, 2013 at 3:13 PM

    "Junior investment bankers, defined as analysts and associates, will get one weekend a month starting in January, when they won’t be expected to work either from the office or home or to answer calls or e-mails, the person said. Employees will be allowed to choose which weekends are protected and can defer them to future months. Dealbreaker reported the decision to reduce weekend duties yesterday."

    aww yeah.

  2. Posted by guest | December 18, 2013 at 3:14 PM

    "maybe the two of us working together at full capacity could do the job of one junior banker" ftw

  3. Posted by guest | December 18, 2013 at 3:17 PM

    I'm going to assume that in light of the fact that this story is about getting ONE weekend off a month, and adding a few extra people to the staff in order to reduce everyone's workload SLIGHTLY, the headline is meant to be a joke?

  4. Posted by guest | December 18, 2013 at 3:17 PM

    Gas Station Employee/Guest: I'm starting to picking up your sarcasm.

    Richard Hayden/Bess: Well, I should hope so, because I'm laying it on pretty thick.

  5. Posted by Guesto Joe | December 18, 2013 at 3:55 PM

    In related Dealbreaker news, Bess Levin is going to insist, starting in January 2014, that Shazar will have to put in one full day of work a month. He may not defer these days to future use. Strictly because he's been on the chopping block on a daily basis for months.

    Bess went on to comment, "I really don't care if he gets poached."

  6. Posted by DreadPirateLevin | December 18, 2013 at 3:59 PM

    "Good night John. Nice work today. I'll most likely kill you in the morning."

  7. Posted by guesst | December 18, 2013 at 4:04 PM

    Deal. Broken.

    Or broke…breaked?? Dammit this was supposed to be my home run.

  8. Posted by Guest | December 18, 2013 at 4:54 PM

    Three day work weeks? Get with the times, we've been doing that for years.

    - French Bankers

  9. Posted by Guest | December 18, 2013 at 10:59 PM

    You mad bro?
    -Rest of Europe