Centerview sleep lawsuit settles, but Wall Street hours stay in the spotlight

A wrongful termination lawsuit brought by former Centerview Partners analyst Kathryn Shiber has been settled, averting a public trial that promised to scrutinize the intense working conditions faced by junior bankers on Wall Street. Shiber alleged she was fired after disclosing mood and anxiety disorders and requesting a consistent schedule allowing for eight hours of sleep. While Centerview maintains the claims were meritless, the case arrives at a time when banks are under pressure to address overwork among junior staff, following previous tragedies and increased scrutiny.

Despite efforts by some large firms like JPMorgan and Bank of America to implement guidelines and track hours, industry data suggests that average workweeks remain stubbornly high. A 2025 survey by Odyssey Search Partners showed analysts working an average of 78 hours per week, with those at elite boutiques averaging 82 hours. Recruiters report that the expectation of constant availability during live deals persists, with senior team members expecting analysts to match their own long hours.

As the financial industry anticipates a potential M&A boom in 2026, competition for young professionals is intensifying. Many are now prioritizing mental health, predictability, and workplace flexibility alongside compensation, potentially forcing firms to re-evaluate their demanding cultures and work-life balance expectations.

(Source：Investmentnews)