The death of a young investment banker at Bank of America (NYSE: BAC) has sparked widespread outrage among junior bankers on social media. The deceased, a former US Green Beret and father of a young child, was reported to have worked multiple weeks exceeding 100 hours before succumbing to acute coronary artery thrombus.
News of the tragic incident has led to rumors of potential strikes by Bank of America IB Analysts and Associates, reportedly demanding better working conditions and a more balanced work-life balance.
The bar is low, too, if the circulating post from the forum Wall Street Oasis is to be believed. It notes juniors bankers are asking for work to be capped at 100 hours per week, without exceeding an average of 80 hours per week in a month, and that juniors should get at least one weekend off each month.
While Wall Street Gossip later clarified that there would be no strike and that “there are questions on the accuracy of the WallStreetOasis account” that started the rumor, the incident has reignited the long-standing debate about the grueling hours and high-stress environment that junior bankers are subjected to in the industry.
Information for this story was found via Reuters, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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