Young bankers on $300k given extra $3k for holidays

If you are already incomes $300k+ as a 24-year-old associate at PJT Partners, will an extra $3k in vacation allowance actually make a lot distinction to your motivation to work? 

Apparently, sure. Financial News has famous that boutique agency PJT Partners has begun providing a “trip stipend” of $3k to its already very properly remunerated junior bankers, as per its newly launched annual report

The stipend is not accessible to PJT’s analysts, however is on supply to its associates and VPs. An insider tells us it might probably solely be claimed as soon as throughout a person’s tenure at every title. The transfer accompanies what PJT says is intense competitors for workers, each by way of pay and tradition.

Paid holidays aren’t the one factor on supply: “We proceed to make important enhancements to our promotion course of and our dedication to mentoring our rising expertise, together with by partnering with exterior coaches,” PJT says.

Where do you go along with your extra $3k deal with? The PJT insider says individuals do not appear to have gone wherever but, probably as a result of they have been too busy – though this will change as warfare in Europe dampens the appetite and ability to do offers. 

PJT juniors are extremely compensated, however their working hours which are commensurate with that. Insiders say weekend work is the norm, days and nights are lengthy and sleep is minimal. In mid-2020, one VP on the agency was widely criticized for complaining that junior colleagues weren’t responding to his emails at 3am.  “I sleep common [sic] of 5 hours or much less. Expect the identical or extra of my junior workforce, particularly on stay offers. Please flip my feedback and work as quick as you may,” he added. Last time we appeared, he was nonetheless at PJT.

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