"One common reason I heard is that bankers simply like to flex - not necessarily their visible arms, but where they work - as many firms give out branded vests. "It's an earned status thing. You put in a lot of work to get to equity research for your team, to get to the PM role for a team, to be able to get to that said firm," one analyst told me. "That's why you wear it.""
""People like to have the vest on to make it known that they are part of that," said Jonathan Grossman, who is two years into working at UBS. Bankers will even wear them inside the office, citing frigid air-conditioned temperatures, Grossman said. "They do claim that it's cold inside, but I don't buy that," he said. "They want to look cool. They want to look part of the act.""
The vest has become synonymous with the finance industry and is widely seen on Manhattan streets during weekdays. Its ubiquity functions as a Midtown uniform and internet meme while signaling professional status. Bankers wear branded vests as earned markers of firm affiliation and career achievement, and generic vests from mainstream brands also indicate membership in the finance club. Vests are worn indoors to counter frigid air conditioning and to project a composed, 'cool' image. Professionals in finance-adjacent fields adopt vests to gain credibility with financial clients. The vest operates as both a practical layer and a social badge in financial workplace culture.
Read at Business Insider
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