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- Citi first hired 27 small bankers In 2022, the Spanish Costa Del Sol offers a softer schedule, more than 80-100 hours in the industry, compared to the 80-100-hour week in the industry. Closing of the program, leverage, signals how to go to employers from small talent.
Young Investment Bankers have long encountered a trade: work hours worked for big money. Between post-covig battle For the talent, Citigroup Some small analysts have tried something different from a softer schedule and a post in Spain’s famous Costa del Sol.
On Wednesday, Citi, as part of the coast in Andalusia in Andalusia announced Push continuous “Simplify the firm” and develop transactions. How can it signal Economic headlines If young bankers are protecting business safety, young bankers can give a wider impetus to the industrial efficiency that forcing the business safety.
This is a dynamic, Benjamin Granger, playing continuously, psychologist psychologist at the head workplace in online survey Qualificationexplained Fortune. It was often called during the pandemic, “The war for talent is over and won talent.” Employers returned most of this goal, although a trend that could continue if the economy weaken and Debt costs slow down to fall down.
“It consists of an ongoing Tug-of-War,” Granger said.
Warrior hopes the burning and charm of workers, Citi first used 27 analytics for more than 3,000 applicants from 2022 to Málaga. according to for Financial times. At this time, their salaries were half of the starting salaries of $ 100,000, which was taken by peers in large centers such as New York, London or Frankfurt. Instead of 80-100 hours of weeks in the industry, business evenings and weekends have been promised.
Citi said that six employees from the Málaga office will leave the company, although it will not affect the influence of more than 220 people in the primary Spanish space in Madrid.
“Our colleagues are known for our emphasis and emphasis on the mobility, our emphasis on our positions in London and Paris Hubs,” he said, “he said. Fortune.
Fight with combustion
Manolo Falcó, the global co-chair of investment banking, previously insisted on Málaga.
“We suffer from much as the rest of the industry,” he said tell this Financial times In 2022. “We lose talent for private capital and technology, so we understand that we can stop it by offering a better business life balance.”
But the effectiveness is also in the focus of attention, especially as Tariff uncertainty In M & A and IPO, TRUMP threatened with many expected in the first days of the management. The Global Investment Bank fell from 6% to $ 26.2 billion to 6% Preliminary data Dealogic compared to $ 27.9 billion in the same period last year. The information showed the fees collected by Citi, but jumping $ 1.25 billion to $ 1.36 billion.
Differently Competitors This allowed Citi’s most employees to work in a hybrid table with at least three days in the office at least three days. CEO is Jane Fraser It was reported to have something The company said he could serve tolerance to remote work as a competitive advantage and a recruitment tool.
Again, there are concerns about industrial working conditions Last tragedies. Last year, former army green beret Leo Lukenas III dead A blood clot after a few hours a few weeks in a few weeks Bank of America. Then in January, Carter Anthony McIntosh, a 28-year-old partner in Jefferies, died of a suspicious drug overdose It was reported to have something Works similar hours.
Annual in 2024 questionnaire The first year of 500 bankers made by Wall Street Oasis lasted an average of 74 hours a week.
When Citi opened the Málaga office in 2022, some claimed that the awesome schedule facing many small bankers was far from a solution.
“If I was working at Citibank, I would not go near such a proposal,” Molly Johnson-Jones, former investment banker, write In a letter Financial times 2022.
This story was first displayed Fortune.com
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