Gone are the days of working until 2AM on an assignment. Staying only until midnight will be the new and exciting way of doing things.
In its corporate and investment bank unit, both the summer programme for analysts and associates, and the full-time recruitment scheme that starts at the end of this month, will be around 40 per cent larger than in 2013, according to an internal memo seen by the FT. BofA’s corporate and investment bank unit normally hires “a few hundred” into the two schemes each year, a person familiar with the process said. “Our increased hiring reflects our desire to invest in our people in light of our growing activity levels and the need to provide more support to our junior bankers to have a better experience,” said Christian Meissner, head of global corporate and investment banking at BofA, in a memo...In January, Mr Meissner sent a separate memo to staff discouraging weekend working for junior employees at its corporate and investment bank. The memo recommended that analysts and associates – the first and second rungs of the corporate ladder – take at least four weekend days off per month.