JPMorgan Starts Monitoring Investment Banker Screen Time To Prevent Burnout (yahoo.com) 22
JPMorgan is piloting a system that monitors junior investment bankers to avoid burnout (source paywalled; alternative source). "[T]he bank will seek to match up hours claimed by the bankers with digital activity," reports Bloomberg. "The tool won't be used for evaluation purposes, but is designed to provide a better estimate of employee workloads." From the report: The program will monitor the weekly digital footprint, including video calls, desktop keystrokes, and scheduled meetings, the Financial Times reported earlier, adding JPMorgan plans to roll out the effort more widely across its investment bank. Banks on Wall Street are known for heavy working hours, but can in return offer salaries of as much as $200,000 for entry-level analyst and associate roles. "Much like the weekly screen time summaries on a smartphone, this tool is about awareness -- not enforcement," a representative for JPMorgan said in a statement. "It's designed to support transparency, well-being, and encourage open conversations about workload."
Right... (Score:3)
Sure, it's about making sure they aren't getting *too* much screen time and *not at all* about trying to audit that they are doing as much screen time as the managers expect them to be getting..
Re: Right... (Score:2)
They could give a fig how much time someone spends.
Those people are measured outlet on money earned / lost.
There may be a loose correlation, but revenue is the only performance measurement that matters.
Re: (Score:2)
They could give a fig how much time someone spends.
Those people are measured outlet on money earned / lost.
There may be a loose correlation, but revenue is the only performance measurement that matters.
While that may be factually correct, management rarely gives a flying fuck about factual correctness if they have the ability to micro-manage employees with tools like these.
Re: (Score:2)
My company rolled out JIRA time tracking and said it was purely to do metrics on time spent on tasks. The employees unionized and the company was trying to get us to accept that they'll use those time tracking charts as a basis for disciplinary action.
If they say "The tool won't be used for evaluation purposes", then you can bet it absolutely will be.
Re:Right... (Score:5, Insightful)
Exactly! My company rolled out JIRA time tracking and said it was purely to do metrics on time spent on tasks. The employees unionized and the company was trying to get us to accept that they'll use those time tracking charts as a basis for disciplinary action. If they say "The tool won't be used for evaluation purposes", then you can bet it absolutely will be.
The business world is pretty notorious for "whatever we say we won't do is already part of the plan." This one is so absurdly obvious I'm surprised they bothered to even say it.
Re: (Score:2)
Re: (Score:2)
Sure, it's about making sure they aren't getting *too* much screen time and *not at all* about trying to audit that they are doing as much screen time as the managers expect them to be getting..
I hear all these complaints about too much screen time like a couple of hours a day leisure time destroys lives but never about the 6-8+ a day from work or school.
It's a typo for "burn in" (Score:2)
This story is obviously a red herring. What they are worried about is the screens getting used too much and burning images into them.
Why would they care about burning out humans. Pesky nuisances whose main virtue is how cheap they are. But what do you expect when they are mass produced in such quantities but such unskilled labor?
Didn't dislike the FP, but the Subject was vacuous and should have at least hinted if you [Junta] were going for serious or funny. I'm definitely going for Funny, but it's funny I s
Ummm (Score:5, Insightful)
Re: (Score:2)
"Olsoc" eh? Is that anything like Ingsoc?
There's a coincidence... I almost added to my post that the Board of JP Morgan was considering changing their name to INGSOC.
Pay Walled (Score:2)
So anyway...
How 'bout them $SportsTeam last night? It was so close and then it was a blow out.
Typical, eh?
I can't see how they finish the season and make the $PlayOffs.
Doesn't really matter either way because my fantasy-$Sport picks really came through for me. I'm up huge.
Any war news, lately?
Haha lies (Score:3)
Fine, how about it's also done anonymously so you have no idea who is doing more or less screen time, and zero hints about who it might be.
Then you can just have open company policies if you see people getting too much screen time and workload and put in policies that reduce it.
Because it's not about figuring out enforcement, right?
uh (Score:4, Funny)
"The tool won't be used for evaluation purposes, but is designed to provide a better estimate of employee workloads."
Yeah, specific employees.
Anyway, this is a good point, people can only stare at a screen for so long, unless they're playing video games. Obviously they need to gamify trading. I mean, more than they already have
but do they want workers to book 40 hours while pu (Score:2)
but do they want workers to book 40 hours while putting on 10-30 more off the books?
Wrong metrics (Score:3)
Not yet... (Score:2)
The tool won't be used for evaluation purposes ...
Even if it starts out that way - and I have serious doubts, because those who collect such data collect ALL they can and do what they please despite promises - it's going to end up being used to decide who stays and who goes. Anybody who believes that it won't be used to cull the herd is an all-day sucker.
Everybody is already aware. (Score:2)
Investment bankers in New York are absolutely aware of how much time they spend working. They know that they slept on a cot the last two nights, have eaten delivery for their last twenty meals, and cannot remember what their friends look like. Which is why most of them quit and leave New York in two years or less. I can only imagine that the software timer is there to push the weak ones to quit sooner and not get a bonus.
Re: (Score:2)
And it will shame the honest ones into reporting fewer hours so they get paid $60k instead of $200k for that last year right before they quit and forfeit the bonus.
Right... (Score:2)