Junior Goldman Sachs analysts complaining about 100-hour work weeks should just suck it up, apparently. Why is investment banking so stuck in the past? Click to read; Young Bankers Have an Absurd Work Life on Bloomberg
In the first episode of “Industry,” a BBC and HBO television drama about young investment bankers, the depiction of their world couldn’t be bleaker. There, a graduate trainee dies in the office toilet after pulling several all-nighters.
Both writers of the cult show had left banking disenchanted by their own experiences, and they had a real example to give the plotline substance. In 2013, a summer intern at Bank of America Corp. in London died from an epileptic seizure caused by overwork.
As Matt Levine points out, working crazy hours to meet unrealistic deadlines is a regular thing in banking. It is a rite of passage that bestows honor on rising stars.
But this attitude belongs to a different era. Not a period where work-life balance and mental health are taken seriously. At least that’s what employers always say they’re doing.
The pandemic was meant to help. More so, since working from home allowed people to avoid competitive presenteeism. It may be making things worse.
By Marcus Ashworth and Elisa Martinuzzi
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