Bank of America requests junior analysts to disclose job-hopping intentions, otherwise they will face reassignment or dismissal.

According to informed sources, Bank of America is now requiring its junior analysts in the investment banking department to disclose whether they have accepted job opportunities from other companies, and informing them that if they do accept, they may face relocation. Facing the increasingly aggressive poaching tactics of the private equity industry, Wall Street banks are stepping up efforts to retain talent, preventing junior employees from being poached by competitors shortly after taking up their positions. Citigroup and Goldman Sachs have also implemented similar measures. Although Bank of America's disclosure requirement is already included in new employee offer letters and annual code of conduct, the bank recently reiterated this requirement through department managers. Failure to disclose within a week may be considered a violation of the employment agreement and code of conduct, and could result in disciplinary action including termination.