Morgan Stanley is encouraging associates to avoid working (or even logging in remotely) on weekends, while Goldman has been urging its junior bankers to take Saturdays off for the past two years now.
This last measure was evidently insufficient to spare the life of that up-and-coming freshman, which may be why the firm recently told its investment-banking interns to knock off work by midnight – at least until 7:00 a.m. the next morning. And, lest Cinderella become jealous of Wall Street plebes stealing her thunder, the new rule applies only to interns working in Investment Banking.
The firm reports a total of 2,900 interns globally this summer, but didn’t indicate how many of those work in IB.