10-Q, Member Exclusive

Banks tackle the growing issue of investment banking burnout — But is it actually working?

  • We dive into the steps banks have taken to improve work-life balance for employees following the infamous Bofa employee incident.
  • We also assess whether these initiatives are effective, and where more can be done.
close

Email a Friend

Banks tackle the growing issue of investment banking burnout — But is it actually working?

    More doing, less debating


    In the high-stakes world of finance, where metrics move and profits respond, it’s easy to forget that behind every ledger lies a legion of employees. 

    The financial sector isn’t exactly renowned for its leisurely pace. Historically, junior investment banking jobs have been synonymous with grueling hours, often eclipsing the 100-hour mark in a week, worn like badges of honor. This relentless grind, while lucrative, is a double-edged sword, leading to employee burnout, attrition, and the occasional existential crisis. 

    In May of last year, advocates loudly criticized the fact that a frazzled employee is about as useful as a screen door on a submarine. The uproar stemmed from the tragic death of Bank of America associate Leo Lukenas, highlighting the need for urgent change. In response, legacy institutions began adopting measures like limiting weekly hours and assigning senior bankers to oversee the well-being of junior staff.

    While we frequently criticize rigid policies, it’s equally important to acknowledge baby steps some legacy banks are taking to improve employee well-being. Whether these measures are sufficient is another question.

    We dive into the steps banks have taken to improve work-life balance for employees following the infamous Bofa employee incident, assess whether these initiatives are effective, and where more can be done, all served with a bit of wit and a dash of insight.

    ​Bank of America implements measures to address junior banker burnout

    Bank of America had some measures in place to address employee mental health and prevent overwork when the Lukenas incident happened.

    Post-incident, the bank has implemented additional measures:


    subscription wall for TS Pro

    0 comments on “Banks tackle the growing issue of investment banking burnout — But is it actually working?”

    Member Exclusive, SMB Finance

    Why banks’ trusted-advisor pitch isn’t landing with SMBs right now

    • For small business owners, banks still have a long way to go: just 7% view their bank as a true strategic partner, according to Grasshopper Bank’s recent survey.
    • A major problem, says Grasshopper's Danielle Kane, is that many banks still see small-business banking as a product category rather than an operating environment with distinct needs.
    Sara Khairi | August 13, 2026
    Member Exclusive, New banks, Policies & Playbooks

    Fintechs want to become banks. Bunq just found out what the OCC expects in return.

    • For fintechs seeking U.S. bank charters, the OCC is asking: Do the management, capital, risk, and compliance infrastructure hold up? And is the institution ready to operate as a bank, not just alongside one?
    • The OCC may be widening the path to a charter, but it’s also raising the bar for proving readiness.
    Sara Khairi | August 12, 2026
    10-Q, Member Exclusive

    Forget the earnings. Watch where these fintechs are placing their bets.

    • Chime, Block, and Circle each used the quarter to make the case for where fintech’s next moat will be built.
    • Chime is finding a lending advantage in the direct-deposit relationship, Block is rebuilding around AI, and Circle is betting that the bigger opportunity lies in owning the infrastructure beneath stablecoins.
    Sara Khairi | August 10, 2026
    Member Exclusive, Opinion

    Have we mistaken ChatGPT-like LLMs and AI agents for the whole transformation?

    • The industry is increasingly asking: What needs to surround AI before we can trust it?
    • AI needs four things to work well in financial services: data, context, governance, and human oversight. The first two sharpen its intelligence; the latter two make it trustworthy.
    Sara Khairi | August 07, 2026
    Banking, Member Exclusive

    How banks have stopped thinking in products and started thinking in customer journeys

    • As banks weave AI into their customer experiences, many are looking for ways to translate years of customer data into a more complete picture of each customer's needs and context.
    • The difference isn't the data itself, but how well a bank makes sense of a customer's context and goals and builds the right response around that.
    Sara Khairi | August 06, 2026
    More Articles