JP Morgan Introduces AI Tool to Monitor Junior Banker Hours for Wellbeing
JP Morgan Chase has initiated a pilot programme that compares computer-generated estimates of junior investment bankers' work hours against their self-reported timesheets. The US bank plans to roll out this tool more widely across its investment bank, using IT estimates based on employees' weekly digital activities, including video calls, desktop keystrokes, and scheduled meetings.
In a statement, JP Morgan emphasised that the tool is designed for awareness, not enforcement, similar to weekly screen time summaries on smartphones. It aims to support transparency, wellbeing, and encourage open conversations about workload among staff.
Background on Wellbeing Initiatives in Banking
This move follows JP Morgan's appointment of a senior banker in 2024 to oversee the wellbeing of junior staff, along with measures to curtail weekend work and cap the working week for younger employees at 80 hours. The banking industry has increasingly adopted technology to monitor employees, known as bossware, particularly since the rise in remote work during the Covid pandemic.
However, some workers have raised concerns about privacy violations, and the industry has been stricter than others in enforcing back-to-office policies post-pandemic. Investment banking is notorious for brutal workloads and punishing hours, often accompanied by high salaries for entry-level roles.
Historical Context of Workload Issues
The issue of excessive hours has led to tragic incidents in the past. For example, two years ago, Leo Lukenas III, a junior banker at Bank of America, died of a blood clot after citing work weeks exceeding 100 hours. In 2013, Moritz Erhardt, a 21-year-old intern at Bank of America Merrill Lynch, was found dead in his London flat after working 72 hours consecutively.
Other banks have also addressed workload concerns. In 2015, Goldman Sachs instructed summer interns to leave before midnight and not return before 7am, still potentially resulting in 17-hour days. During the pandemic, newly hired analysts at Goldman Sachs compiled a slide deck showing they worked 100-hour weeks and faced abuse affecting their mental and physical health.
Goldman Sachs has stated that management monitors junior banker staffing and activity levels, regularly adjusting workloads to mitigate such issues.
JP Morgan's new monitoring tool represents a continued effort to balance productivity with employee wellbeing in a high-pressure industry.
