Lazard CEO Says Junior Bankers Are Fine With 80-90 Hour Weeks As Long As The Work Is "Interesting" And "Important"

Zero Hedge09-18 10:55

Lazard Chief Executive Officer Peter Orszag doesn't seem to be bothered by recent complaints of junior bankers being overworked on Wall Street. As a matter of fact, he took to Bloomberg yesterday to ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2468430411?lang=en_US&edition=fundamental","thumbnail":"https://cms.zerohedge.com/s3/files/styles/teaser_desktop_2x/public/2024-09/lazard%20ceo.jpg?itok=mFAHaLLa","is_english":true,"pubTime":"2024-09-18 10:55","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2468430411","market":"us","top_or_hot":-1,"title":"Lazard CEO Says Junior Bankers Are Fine With 80-90 Hour Weeks As Long As The Work Is \"Interesting\" And \"Important\"","media":"Zero Hedge","content":"<div>\n<p>Lazard Chief Executive Officer Peter Orszag doesn't seem to be bothered by recent complaints of junior bankers being overworked on Wall Street. As a matter of fact, he took to Bloomberg yesterday to ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/lazard-ceo-says-junior-bankers-are-fine-80-90-hour-weeks-long-work-interesting-and\">Source Link</a>\n\n</div>\n","source":"zerohedge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lazard CEO Says Junior Bankers Are Fine With 80-90 Hour Weeks As Long As The Work Is \"Interesting\" And \"Important\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLazard CEO Says Junior Bankers Are Fine With 80-90 Hour Weeks As Long As The Work Is \"Interesting\" And \"Important\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-18 10:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/lazard-ceo-says-junior-bankers-are-fine-80-90-hour-weeks-long-work-interesting-and><strong>Zero Hedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lazard Chief Executive Officer Peter Orszag doesn't seem to be bothered by recent complaints of junior bankers being overworked on Wall Street. As a matter of fact, he took to Bloomberg yesterday to ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/lazard-ceo-says-junior-bankers-are-fine-80-90-hour-weeks-long-work-interesting-and\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4127","symbol_name":"投资银行业与经纪业","start_time":0,"source_url":"https://www.zerohedge.com/markets/lazard-ceo-says-junior-bankers-are-fine-80-90-hour-weeks-long-work-interesting-and","article_id":"2468430411","we_media_id":null,"thumbnails":["https://cms.zerohedge.com/s3/files/styles/teaser_desktop_2x/public/2024-09/lazard%20ceo.jpg?itok=mFAHaLLa"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468430411","pubTimestamp":1726628100,"sourceInfo":{"source_id":"zerohedge_highlight","name":"Zero Hedge"},"weMediaInfo":null,"summary":"Lazard Chief Executive Officer Peter Orszag doesn't seem to be bothered by recent complaints of junior bankers being overworked on Wall Street. As a matter of fact, he took to Bloomberg yesterday to p","collect":0,"end_time":0,"defaultTopTitle":"zerohedge.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4127":"投资银行业与经纪业","LAZ":"Lazard Class A"},"translate_title":"Lazard首席执行官表示，只要工作“有趣”且“重要”，初级银行家每周工作80-90小时就没问题","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LAZ":1},"content_text":"Lazard Chief Executive Officer Peter Orszag doesn't seem to be bothered by recent complaints of junior bankers being overworked on Wall Street. As a matter of fact, he took to Bloomberg yesterday to proclaim his young bankers are actually asking for longer hours, providing the work is interesting.Whether its just PR spin aside, Orszag's comments come days after we reported that JPMorgan is now capping junior bankers' hours at 80 per week, while Bank of America is rolling out a tool requiring detailed time tracking. Those moves come years after the infamous Goldman Sachs slide deck, wherein junior bankers complained about working long hours on...of all places, Wall Street. Despite this, we wrote back in July that junior bankers were working 100 hour weeks againOrszag said in an interview this week: “There are many, many people who would rather work whatever number of hours per week on interesting, important things rather than fewer hours on things that are not that interesting. And that’s what we’re looking for. That’s the trade-off.”The Bloomberg report says Orszag attributes his ability to ask for 80-90 hour weeks to giving remote work two days a week and offering \"flexibility to ensure staff still have the agency to focus on other important things in their lives\". Employers must offer junior bankers more meaningful work, not just \"make-work,\" said Orszag, though professions do require effort at the end of the day.As we noted last week, the debate over junior bankers' hours resurfaced after Bank of America associate Leo Lukenas died in May, with complaints that hours were exceeding 100 a week despite prior commitments to protect worker health.Orszag concluded by hailing the company's diversity as its strength: “The evidence is clear that more diverse teams produce better outcomes when the problems are not routine. We’re going to be better on behalf of our clients as a result.”","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468430411"}