JP Morgan follows Goldman Sachs in ‘marathon not sprint’ careers
19 December 2013
The investment banking division of financial giant JP Morgan is to ramp up hiring of more junior staff, and appears to be following rival Goldman Sachs in turning down the heat on its corporate culture, Bloomberg reports.
Thu, 19 Dec 2013The investment banking division of financial giant JP Morgan is to ramp up hiring of more junior staff, and appears to be following rival Goldman Sachs in turning down the heat on its corporate culture, Bloomberg reports.
According to the news agency, the company’s global head of investment banking Jeff Unwin announced on a company conference call the plans to up junior investment staff numbers by around 10%, as the company hires across a number of different divisions.
And JP Morgan also seems to be taking a leaf out of Goldman Sachs’ book by introducing the policy of “protected weekends” to product junior staff from overwork.
Goldman Sachs announced similar recruitment and working-time initiatives back in October, with co-head of investment banking David Soloman saying: “The goal is for our analysts to want to be here for a career. We want them to be challenged, but also to operate at a pace where they’re going to stay here and learn important skills that are going to stick. This is a marathon, not a sprint.”
Bloomberg also reports the comments of Boyden Global Executive search head of financials services recruitment Jeanne Branthover that all the major Wall Street firms are set to increase investment banking staff in 2014.
According to the news agency, the company’s global head of investment banking Jeff Unwin announced on a company conference call the plans to up junior investment staff numbers by around 10%, as the company hires across a number of different divisions.
And JP Morgan also seems to be taking a leaf out of Goldman Sachs’ book by introducing the policy of “protected weekends” to product junior staff from overwork.
Goldman Sachs announced similar recruitment and working-time initiatives back in October, with co-head of investment banking David Soloman saying: “The goal is for our analysts to want to be here for a career. We want them to be challenged, but also to operate at a pace where they’re going to stay here and learn important skills that are going to stick. This is a marathon, not a sprint.”
Bloomberg also reports the comments of Boyden Global Executive search head of financials services recruitment Jeanne Branthover that all the major Wall Street firms are set to increase investment banking staff in 2014.
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