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Junior bankers are revolting. Whether it's leaked pitch decks from junior employees laying out their dissatisfaction with their working conditions or widespread associate departures at some firms, Wall Street's youngest generation is making its feelings known. The complaints come after a year of frenzied deal activity and working from home. Their bosses are responding with the promise of protected time off, perks, and, in some cases, special bonuses.
Apollo is offering six-figure retention bonuses to some of its private-equity associates after several young executives quit the firm, Insider has learned. In an effort to stem the exits, Apollo has extended $100,000, $150,000, and $200,000 bonuses for first-year, second-year, and third-year associates, respectively, to be paid in April, according to two people familiar with the matter. The bonuses come with the stipulation that associates stay with Apollo at least until September 2022.
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