JPMorgan is capping junior bankers' hours at 80 per week

JPMorgan just capped junior bankers' hours— at 80 per week.

Transcript

00:0080-hour workweeks might be the new norm for some junior bankers at J.P. Morgan.

00:04The investment bank is capping workweeks after an investment banker died of a blood clot

00:08while working more than 100 hours a week.

00:11It's double the average workweek, but some junior bankers will be exempt from J.P. Morgan's

00:15new policy.

00:16A sample 80-hour workweek for a young J.P. Morgan banker could consist of 6 days of working

00:21roughly from 8.30am to 10pm, with short breaks for meals, or 11 hours a day for 7 days straight.

00:29This is in addition to the company's existing pencils-down period from 6pm Friday to noon

00:34Saturday.

00:35And a guarantee of one full weekend off.

00:37Every three months, overworking can be dangerous.

00:41And banking bosses at Bank of America and J.P. Morgan are being pushed to make sure

00:45policies aren't being violated and to monitor their subordinates' workload better.