A high-profile lawsuit involving Centerview Partners and a former analyst has quietly ended with a settlement, leaving unanswered questions about the demanding work culture on Wall Street. Kathryn Shiber, who joined the boutique investment bank in 2020 after graduating from Dartmouth, claimed she was wrongfully terminated after asking for a more consistent schedule to manage mood and anxiety disorders.
Shiber’s complaint described the analyst program at Centerview as a “dream opportunity” at first. She was initially allowed to work from midnight until 9 a.m. remotely during the pandemic. However, about 10 weeks into her job, she was let go during a video call. She was told she should have expected the role’s unpredictable hours and that her position was highly sought after by others.
The claims spotlight the intense demands often placed on young bankers. Court papers suggest analysts working on active deals at Centerview regularly put in between 60 and 120 hours a week. An internal email referenced in the case revealed tensions around Shiber’s midnight sign-off, with a colleague expressing concern about being the only one working late.
Centerview declined to disclose details of the settlement and stood by its position, calling Shiber’s claims baseless. A company spokesperson said they are ready to move past this issue and focus on their clients.
This case comes amid broader concerns about junior bankers’ workload. Some major banks have made efforts to ease the pressure. For instance, JPMorgan introduced an 80-hour workweek guideline and protected weekend time, while Bank of America uses tracking tools to monitor hours. Still, these measures haven’t significantly cut down on the long hours, according to recruiters and recent surveys.
A study from 2025 found first- and second-year analysts work about 78 hours weekly on average, with those at elite boutiques putting in even more—around 82 hours. This is slightly higher than the 81 hours seen at big banks like JPMorgan and Bank of America. The lean teams at boutique firms mean juniors often carry heavier workloads, an industry recruiter explained.
Despite the spotlight on work-life balance, the culture on active deals remains tough. Senior bankers expect their analysts to be available whenever they are, reinforcing a relentless rhythm. As Wall Street and wealth management firms prepare for another busy year of mergers and acquisitions, young professionals are weighing their options carefully. Many now consider factors like mental health, schedule predictability, and flexibility alongside pay.
The Centerview settlement closes one chapter but not the book on the challenges facing junior bankers trying to keep up in a demanding industry.