Associate Professor of Marketing and Management Joshua Bienstock, L.L.M., J.D., is quoted in a Fortune article about the trend among investment banks to require loyalty oaths and employment disclosures from junior bankers and analysts. Bienstock called the practice “draconian, unethical, and soul- and motivation-killing.”
As banking companies force their newer employees to reveal whether they have accepted future job offers, Bienstock notes they are potentially driving away top talent from their applicant pool. Furthermore, he warns that this practice could face legislative scrutiny.
“There’s going to be a really, really quick reaction, particularly [by] New York City and New York state, to creating prohibitions or limitations [on the employment disclosures],” Bienstock said.
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