Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
A Moelis email has been circulating this week, first reported by Wall Street Oasis.
Oh man. The President of the investment bank Moelis had to send a letter to staff reminding them to treat young bankers with respect, after an internal email got posted blasting young bankers for not being at work at 2 AM https://t.co/tLzxrI7IPi pic.twitter.com/J3KC2ldYs2
— Joe Weisenthal (@TheStalwart) April 13, 2018
No doubt readers' thoughts will turn to their own memories at the powerpoint coalface, but consider what this line reveals:
Given that new staffings continue to flow in and you are all very near capacity, the only way I can think of to differentiate among you is to see who is in the office in the wee hours of the morning.
The only way?
Either the young staffers are so uniformly brilliant and informed their caffeine intake is all that's left to tell them apart, or investment banking has a productivity measurement problem.
Wonder how they decide who gets paid.
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