Plus: RTO Policies Get Mixed Reviews | Travel Ban Exacerbates Doctor Shortage | The Companies Making The Workplace More Accessible |
| Young bankers looking to break into private equity could be looking at a new recruiting timeline. In recent years, many of the top firms in the country have recruited aspiring bankers and investment managers for post-grad jobs two years in advance. Fighting for coveted internships, many recruits begin their first full-time job with a signed offer for their second already secured, but with a delayed start date of two years. It’s a typical practice for competitive positions in other industries, too. Law students seeking to work in Big Law, for example, often seek out their second year summer associate job during the spring and summer after their first year, with the hopes of getting an offer for a full-time position at the same firm after. But JPMorgan is over it. The bank told incoming graduates that they would be fired if they accept future job offers at other companies before starting at the bank or within their first 18 months of employment, according to Bloomberg. Private equity firms are already responding. Apollo Global Management told prospective investment banking applicants that it won’t extend offers to the class of 2027 this year. Still, while recruiting potential hires so early might seem counterproductive, it’s what many big banks have resorted to in order to beat out competition for the best talent. Happy reading, and hope you have a lovely week! |
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 | | JPMorgan’s Internal Memo Highlights 2 Missed Signals In RTO Mandates LightRocket via Getty Images |
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| Full return-to-office mandates were all the rage at the start of the year, with firms like Amazon and Dell calling their employees back on-site. Six months after implementation, some workers are filing disability claims and employee morale is falling. It’s been six months since thousands of U.S. workers were brought back into the office full-time, and many returning employees are now unhappy, unmotivated and even complaining about the lack of disability accommodations. Workers across generations are unsatisfied with RTO, according to the Adaption Institute, and more days in the office is not improving burnout or intent-to-quit rates. At JPMorgan, an internal culture study found that fewer employees feel like their health and well-being are a corporate priority, likely triggered by the bank’s strict five-day in-office policy. Then there are those who say that their requests for exemption from RTO mandates due to disabilities are not being heard. Employees at Amazon have filed disability complaints both with the Equal Employment Opportunity Commission and the National Labor Relations Board, two federal agencies tasked with regulating working conditions. In one complaint, workers allege the company is deleting posts in internal chat rooms that share dissatisfaction with the RTO process, according to Bloomberg. But not all companies are forcing their employees to come back to the office. Bankers at Citibank, for example, are seeing the opposite response, as the bank’s hybrid employees will be able to work remotely for two weeks of their choice in August, according to its new policy. Working Euro-summer, anyone? |
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| Many companies don’t instinctively know how to hire and support disabled employees. Forbes’ Accessibility 100 ranked the best companies building accessibility tools across teams and industries. From crafting better job descriptions to creating workplaces where different ways of thinking can thrive, these companies are opening doors to jobs that were once inaccessible. President Donald Trump’s new travel ban is already having widespread impacts. For one, foreign doctors slated to start their residencies in July from the 19 countries banned may not be able to enter the U.S. at all, exacerbating the country’s doctor shortage. Despite the persistent calls for increased deportations from the president, the Trump Organization continues to bring in foreign workers to staff its clubs and winery, Forbes’ Zach Everson reports. The company has filed to bring in at least 1,880 seasonal workers since 2008, and this year has posted intentions to hire 31 foreign workers on temporary visas to work for its winery through October. New York state updated its WARN notice requirements—which identify mass layoffs for companies with more than 50 employees—to include robotics or AI-related cuts. It marks the first time employers will have to explicitly disclose if automation is replacing workers, which could lead to more worker protections down the line. The line between showbiz and content creators is blurring. Forbes’ Top Creators list, which ranks the 50 richest influencers across Instagram, TikTok and YouTube, is filled with creators who have started their own media and entertainment companies, as private funding into such brands explodes. |
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Infinite | That’s how long the workday is getting, according to new research by Microsoft. Even before 6 a.m., 40% of workers are already tackling their inboxes. And the workday continues into the night, as meetings after 8 p.m. are up 16% from last year. | |
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| | As companies cut middle-management positions, what firm is planning to hire assistant managers for all of its stores by 2026? | | A. | Walmart | | B. | Starbucks | | C. | Bank of America | | D. | Chipotle |
| | Check if you got it right here. |
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| Where the brightest young leaders meet and careers take off, the Forbes Under 30 Summit is the ultimate gathering of founders, creators and visionaries shaping the future. Join us in Columbus, from September 28 through October 1, for an experience designed to inspire and accelerate your next move. |
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