Elsewhere online
March 16, 2016

Citigroup Offering Young Bankers Year Off for Service Work

A program unveiled Wednesday by Citigroup to recruit and retain millennials includes an option for young employees to take a year off to do charitable work, reports The Wall Street Journal. The banking giant has already selected nine incoming analysts to spend 12 months with one about 40 organizations selected for the program by volunteerism group Service Year.

The new hires will receive 60 percent of their Citigroup salary over their year of nonprofit work. The bank is also offering young workers four-week tenures with a microfinance project in Kenya. The move represents a cultural shift on Wall Street, where junior employees were long expected to work grinding schedules in their early years, and an attempt to attract a generation that is increasingly eschewing finance for the tech sector, the Journal writes.