Hazard of the Trade: Bankers' Health

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chad.sandstedt's picture

The WSJ has an article on their site this morning about the health and mental impacts from working in investment banking. It’s about a study that followed 1st and 2nd year bankers to see how they coped, or did not cope, with the workload of young investment bankers. 

About the work:

“During their first two years, the bankers worked on average 80 to 120 hours a week, but remained eager and energetic, she says. They typically arrived at 6 a.m. and left around midnight.”

And the side effects:

“By the fourth year, however, many bankers were a mess, according to the study. Some were sleep-deprived, blaming their bodies for preventing them from finishing their work. Others developed allergies and substance addictions. Still others were diagnosed with long-term health conditions such as Crohn’s disease, psoriasis, rheumatoid arthritis and thyroid disorders.”

Read the full article.

FrankArabia's picture

I saw the article too….its kinda sad…..but I think the biggest stress is really doing something that is unenjoyable for so long a time period…..

ohai's picture

I’m pretty sure that if you spend 100 hours a week doing anything for 4 years, it will start to drive you crazy…

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

transferpricingCFA's picture

I sarge 100 hours a week minimum. Hasnt affected me.

No excuse for not being on constant sarge.

FrankArabia's picture

what exactly do you do 100 hours per week? i do 100 hours of work a week, but 40 hours of it normally is for personal reading, investing etc…i’m not in front of a spreadsheet or at the office 100 hours for sure….

ohai's picture

A lot of it is definitely face time. Also, waiting for things to happen. Like if your client says they will call “some time tonight”, you have to wait around until they call. 

“Be aware of this 40 year old men in our country.They suffer from mid life crisis and are always trying to be in the good books of young girls.” -Rahul Roy

Goodwill's picture

They earn all that wealth at the expense of their health, then they spend all that wealth to regain their health.

I want to become a recreational stock analyst of professional caliber.

Black Swan's picture

Can’t get your youth back.  Glad I learned that lesson when I did, lost all interest in becoming a banker as I was coming out of grad school.

redacted

bchad's picture

Aha, now bonuses will be described as hazard pay.  Though not for firefighters and garbagemen.

You want a quote?  Haven’t I written enough already???

CFAvsMBA's picture

But Leveraged Sell Out makes it sound so worth it!

I like my bankroll bro, keep your fuggin work/life balance…

itera's picture

And when the end of the year comes around, and you are told your bonus is 0

OR that not only is your bonus 0, but that they are clawing back last years bonus.. you’ll want to puke blood

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

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