The Workers Rights 
Citi is scrapping fixed-term contracts for its investment banking analysts in North America and shortening its analyst programme to two years, good news for those in the early stages of their careers. The bank’s Citi junior bankers will no longer have a built-in end date and may move up to associate quicker. What it means to you.
Quick Facts
- The impact of contracts: North American analysts’ fixed-term provision comes to an end
- Analyst programme: reduced from three to two years.
- VP to CEO: from 10 and a half years to 10 years
Why Citi Ends Fixed-Term Contracts?
Banks are fed up with losing analysts after two years, and private equity firms have been taking junior analysts at an early stage. To get people to stay longer, Citi banking jobs now have more of an upward path.
Before vs After
| Feature | Before | Now |
| Analyst programme | 3 years | 2 years |
| Contract end date | Pre-set | None |
| Analyst to VP | 6.5 years | 5.5 years |
What It Means for Job Security and Career Growth
For Citi, job security for the younger guys is more favourable, as there’s no fixed deadline. It is not a job security policy, but it does eliminate the automatic termination policy. Promotions for senior bankers are also on pace to be faster than those of its peers, which usually involve a two-year program.
AI helps too. Meanwhile, banks are creating tools to reduce spreadsheet grunt work, which could make it easier for analysts to find jobs in investment banking that involve working for clients, as opposed to on their own spreadsheets.
What Happens Next
Be ready to see other promotions being adjusted again by competitors. Inquire with your manager about how the new time frame relates to your job, as banking jobs at Citi will continue to change.
FAQs
Why does Citi need to discontinue fixed-term contracts?
To keep young players until they have reached a more mature level.
Does this mean that you are guaranteed lifelong employment?
No. It does not take away the end date of the contract, but performance expectations.
Is this something that would apply to all Citi junior bankers?
The transition is aimed at the investment banking analysts in North America.
Explore the latest AI and workplace trends.
Which AI Model Leads Today?
Find the latest AI performance comparison.
Will AI Replace More Jobs?
Explore how automation affects job security.
Are AI Agents Joining Workplaces?
Uncover what the future of AI looks like.
Which AI Skills Are In Demand?
Check out the skills employers want.
Why Are Factory Layoffs Rising?
See which industries face the biggest cuts.
