Investment Banker Fired for Needing Nine Hours of Sleep Sues for Discrimination

A young analyst found herself jobless because she sought nine hours of sleep per night. This individual, Kathryn Shiber, is now suing a New York investment bank for discrimination, casting a spotlight on the industry's notorious 120-hour workweeks.

Shiber had a seemingly reasonable request: to be allowed nine hours of sleep nightly to manage a mood and anxiety disorder. However, her employer deemed this unacceptable and terminated her employment. The upcoming jury trial in a New York federal court will delve into the merits of her discrimination claim.

Shiber joined Centerview, a prominent mergers and acquisitions advisory firm, as a junior analyst in 2020. Shortly after, the firm granted her a guaranteed sleep window from midnight to 9 AM. In return, she committed to being available for work seven days a week during all other hours.

Yet, less than three weeks later, Shiber was called into a meeting where she was dismissed. Her manager reportedly criticized her for even applying for a role in investment banking given her need for consistent rest.

The jury will now deliberate on whether a bank can officially demand what is already commonplace for many entry-level professionals on competitive Wall Street: extremely long hours, minimal days off, and constant availability. Client demands can arise unexpectedly at any time, requiring immediate attention, often in the early morning or late at night.

This reality puts young bankers under relentless pressure. Proactive planning is nearly impossible, and personal lives inevitably suffer. Relationships strain under canceled plans, and meeting friends or visiting family becomes challenging. However, the lure of prestige, substantial income, and the prospect of a rapid career ascent often outweigh these downsides.

Centerview, the bank in question, disputes Shiber's claims. They maintain that all junior bankers are aware that long and often irregular working hours are an intrinsic part of the profession. The guaranteed nine-hour sleep window, they argue, was merely an interim arrangement. It quickly became evident, they contend, that such an arrangement was not sustainable long-term. If Shiber genuinely required eight to nine hours of undisturbed sleep every night, she could not perform the job effectively.

Shiber's conflict with the bank intensified after she was assigned to a deal codenamed "Project Dragon." After working until approximately 2 AM for several consecutive days, she logged off around 1 AM on a Friday morning without prior notification to her team leaders, according to court documents.

Depositions submitted in the case reveal that long workdays are routine, especially during deal preparation. When questioned by Shiber's lawyers about typical first-year analyst work schedules, Centerview partner Tony Kim stated they could range from 60 to 120 hours per week. He added, "On some projects, you work 24 hours a day," clarifying that while not the goal, it does occur. "You never know when you need to be available. But you just have to be available when the team needs you."

Shiber's unannounced log-off led to an email exchange with one of her supervisors. She explained that she believed her work was complete and expressed frustration with the unpredictable workflow. "There were several moments yesterday where I could have done more if I had known earlier," she wrote. Her boss responded, "A part of this job (and the worst part of it) is that you often cannot take care of things in advance or get them done early because there will always be more you need to do."

Shiber asserts that her dismissal has permanently damaged her investment banking career. She is seeking the salary she would have earned over the next decade, plus compensation for emotional distress, totaling millions of dollars.