U.S. Court to Rule on Banker Firing Over Sleep Demands in Disability Case
A federal jury in New York is poised to deliver a landmark verdict in a case that questions whether financial professionals can be dismissed for insisting on adequate nightly rest. The trial centers on Kathryn Shiber, a former junior analyst at elite mergers and acquisitions advisory firm Centerview Partners, who was terminated after requesting a guaranteed nine-hour sleep window to manage her diagnosed mood and anxiety disorder.
The Controversial Termination
In 2020, shortly after Shiber commenced her role at Centerview, the firm agreed to an unusual accommodation: she would receive a protected nine-hour period each night for sleep, while remaining available to work all other hours, seven days a week. However, less than three weeks after implementing these terms, Centerview summoned Shiber to a video call and fired her. According to court documents, the firm's chief operating officer criticized the then-21-year-old for even pursuing an investment banking career given her rest requirements.
Shiber subsequently filed a lawsuit alleging disability discrimination under both federal and New York state law. Her legal action seeks compensation for lost earnings over the next decade, back pay, and damages for emotional distress, potentially amounting to millions of dollars.
Essential Functions of Banking Roles
Federal Judge Edgardo Ramos ruled in October that the case should proceed to trial, noting there is "a genuine dispute about whether the ability to be available at all hours of the day and to work long, unpredictable hours is an essential function of the analyst role." This central question will likely dominate the proceedings: is round-the-clock availability truly necessary for junior bankers, or merely an entrenched cultural norm within Wall Street's high-pressure environment?
Katherine Macfarlane, a law professor and director of the disability law and policy program at Syracuse University College of Law, observed that it is "incredibly unusual" for such a case to reach trial. She explained that judges frequently dismiss claims under the Americans with Disabilities Act—which Shiber is citing—at earlier stages. Macfarlane added that arguing in court that employees must be available 24 hours daily would be "slightly absurd" and would exclude a significant portion of the workforce.
Broader Implications for Wall Street Culture
This trial intensifies an ongoing debate about the working conditions that ambitious young professionals endure in exchange for lucrative salaries and prestigious positions. Wall Street's grueling hours have been a persistent source of controversy. In 2021, a presentation created by first-year investment banking analysts at Goldman Sachs detailing their excessive remote work hours and sleep deprivation during the pandemic gained viral attention online, prompting some institutions to implement protective measures like capped hours and guaranteed weekend time off.
Centerview has defended its position, asserting that junior bankers, similar to their counterparts across the financial industry, "are known to work long and often unpredictable hours, a consequence of the job of an investment banker." The firm contends that the nine-hour sleep arrangement was intended only as a temporary solution when Shiber initially disclosed her sleep needs.
Shiber maintains that her termination irrevocably damaged her investment banking career prospects. The outcome of this case could establish important precedents regarding reasonable accommodations for employees with medical conditions in demanding professions, potentially reshaping expectations about work-life balance in high-stakes financial sectors.
