Citigroup is offering junior bankers two weeks of ‘fully disconnected’ holiday, the latest perk for analyst and associates amid pay rises and one-off bonuses across the sector.

The US investment bank has told all of its analysts and associates in Europe, the Middle East and Africa to take two weeks off by the end of September, complete with promises to fully disconnect from work, according to a person familiar with the matter. Banks are making efforts to shake-up their long-hours culture and improve work-life balance for junior staff amid an increase in burnout, as well as hiking salaries in a bid to retain staff.