Like Bank of America, JP Morgan, and Goldman Sachs before it, Credit Suisse announced this week that analysts and associates will have some semblance of a weekend, moving forward. Unlike JP Morgan’s monthly “protected” weekend and BofA’s “take the number of UNAUTHORIZED weekend days you were previously working and cut it in half,” Credit Suisse has chosen to adopt the Goldman Sachs 36-hour weekend model, unless of course urgent work needs to be done, in which case, consider your ass glued to that desk.

The Swiss bank, which has a major presence on Wall Street, said in an internal memo on Monday that it was issuing new guidelines to discourage analysts and associates — the two lowest employee levels — from working in the office on Saturdays. The bank said the new policies, covering junior bankers in the Americas, would take effect this week. The initiative is the latest attempt by a major investment bank to alter the hard-charging culture of its entry-level jobs, which are often seen as a steppingstones to higher-ranking positions. For analysts across Wall Street, working into the wee hours or even pulling all-nighters is an unwritten expectation of the job, and weekend work is common…On Monday, Credit Suisse said internally that its analysts and associates should not be in the office from 6 p.m. on Fridays though 10 a.m. on Sundays. In addition, conference calls should be avoided on Saturdays but are permitted early on Sunday mornings, the memo said. The rules don’t apply to “live deals,” which require analysts’ immediate attention. A Credit Suisse spokesman said that a live deal was “a deal that is actively being put together.”

As you were.

Credit Suisse Tells Junior Bankers to Take Saturdays Off [Dealbook]

Related: Goldman Sachs Spells Out New “Saturday Rule” For Junior Employees; Christmas Come Early For JP Morgan Junior Employees; BofA Recommends Junior Employees Stop Doing That Thing It Never Condoned In The First Place

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Comments (25)

  1. Posted by CS Analyst | January 14, 2014 at 12:30 PM

    "The rules don’t apply to “live deals,”"

    What are those?

  2. Posted by Brady's Ladies | January 14, 2014 at 12:35 PM

    Considering we haven’t done a meaningful deal since Google (Which we did for free/no-fees) this won’t be an issue. Except for those Saturdays that we will need you to come in so we can Rif you…

    – FID Management

  3. Posted by HandsomeMan | January 14, 2014 at 12:56 PM

    Great, now I'm only wasting time from 8 am to 8 pm all the other days of the week. After 8 pm is when the dick MD finally gets around to sending around the work that needs to be done.

  4. Posted by guest | January 14, 2014 at 1:10 PM

    Utter tosh. Have these banks not heard of karoshi? They can learn something from the Japanese. It's a risk you take in banking– just like policemen getting shot.

  5. Posted by Shaz's beard | January 14, 2014 at 1:36 PM

    36 hour weekend > bonus paid in subprime and vertical slices of CDOs with 5 year lock-up, 100% clawback and multiple knock-out clauses that the bank didnt want to keep on their own balance sheet

  6. Posted by BAML | January 14, 2014 at 1:49 PM

    Play it again Sam.

  7. Posted by Guest | January 14, 2014 at 2:00 PM

    Splooooosh

  8. Posted by Guest | January 14, 2014 at 2:00 PM

    Thursday's the new Friday.

  9. Posted by Guest | January 14, 2014 at 2:10 PM

    Thank God analysts not on any deals can now have the weekend offf

  10. Posted by top-tier talent | January 14, 2014 at 2:43 PM

    I don't know if I made a mistake accepting the GS offer now that CS is offering people a FULL 4 HOURS more "protected time" on the weekends.

  11. Posted by MFIN Grad | January 14, 2014 at 3:24 PM

    So if Goldman jumped off the brooklyn bridge you would do it too?

    UBS – Chief Disciplinarian Officer
    /s top bucket '13

  12. Posted by guest | January 14, 2014 at 3:36 PM

    Advising Beam you jackenape!

  13. Posted by Humph | January 14, 2014 at 3:40 PM

    End of year review

    MD: So thanks for all the good work this year, your bonus came out to 50k and you were rated as a solid performer
    Associate: Oh okay, doesn't that seem to be a bit on the low side?
    MD: Keep in mind what the opportunity here really provides. The firm has shifted into a more sustainable business model also. Besides 3% less hours vs last year really improved everyones quality of life. The team needs to be in this together and we need team players, not golf/tennis players.
    Associate: Thanks (fuck you)

  14. Posted by Not a Golfer | January 14, 2014 at 3:50 PM

    MD: Great talk, gotta run though, late for a tee time.

  15. Posted by Itau BBA guy | January 14, 2014 at 4:04 PM

    Right, we had the idea first but now come GS and everyone is like "what a great idea"…

  16. Posted by IBANK4LIFE | January 14, 2014 at 4:35 PM

    I sure hope Capital One adopts this model

    -Guy who is in i-banking like you guys

  17. Posted by Bored Guest | January 14, 2014 at 5:11 PM

    check you fine print

  18. Posted by LouisFineberg | January 14, 2014 at 5:23 PM

    That's Christian of CSFB

  19. Posted by St. Copious | January 14, 2014 at 6:34 PM

    This is probably the best signal we'll get that the tech bubble is about to burst.

    It's been a while, but I recall GS rolling out some panicked quality of life improvement plan for analysts circa late 1999, because they couldn't attract and retain vs. tech. Six months later, of course, it was all gone.

  20. Posted by A-Side | January 15, 2014 at 1:01 AM

    - Jon Knee

  21. Posted by kizi 1 | January 15, 2014 at 3:10 AM

    The banking and related events, maintaining and developing the necessary elements for the current period.

  22. Posted by Sad but true | January 19, 2014 at 1:15 PM

    Sad thing is that after a year in ibanking, most analysts have lost their college friends already (both of them) and don't actually know what to do with their free time.

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