JP Morgan Chase Tracks Junior Bankers' Hours with Tech

0:00On March 20, JP Morgan Chase is launching a pilot program to verify the work hours reported by junior investment bankers. The bank will compare their time sheets with data from IT systems that track digital activity. This tech pulls from things like video calls, key strokes on desktops, and scheduled meetings to estimate weekly hours. Officials plan to expand it across the investment bank division soon. It's part of broader changes, including capping younger staff at 80 hours a week and limiting weekend work. The bank even named a senior executive last year to focus on junior employee well-being. Meanwhile, monitoring software has spread in finance since remote work surged during the COVID pandemic. Some employees worry it invades their privacy, especially as banks push hard for office returns. Investment banking has long-man grueling schedules paired with big entry-level pay. Tragedies highlight the toll, like junior bankers at other firms who die from blood clots or exhaustion after 100 hour weeks.

1:01Efforts continue to balance heavy workloads with staff health, as banks track activity and tweak team assignments to prevent burnout.