City stress: the health risk to bankers

The high-pay, high-risk, high-stress lifestyle of London's financial services is not just bad news for the health of the economy - it's also ruinous to the health of the individuals themselves.
Subscribe for more like this, every day: bit.ly/1epe41j
Dangerous world: bit.ly/1JCsSYb
The news explained: bit.ly/1epgay4
Music: bit.ly/1RVTRNy
Technology: bit.ly/1LI1K9y
Like us on Facebook: on. 1wQ1Gty
Follow us on Twitter: bit.ly/1mFUjBD

[@arsenalforlife1508]

This is mainly referring to Investment Banking... ECM, DCM, and M&A divisions... commercial banking divisions don’t face this.

[@JohnnyJohn12503]

M&A has some of the worst hours of the entire industry what are you on about lol.

[@wolfofbishopsgate66]

Commercial banking includes large corporate banking and even some structured finance at NatWest/HSBC... so yes they do

[@sanktalucia4959]

@@JohnnyJohn12503 That's literally what he said

[@BeanyOwns]

This ‘banker’ label is ridiculous. Seems to be a generic term for anybody who works in finance. There are so many different jobs in finance,’banker’ is such a poor description of everyone in finance. People who don’t understand finance seem to think it involves just sitting in a nice suit playing around with a bank account called ‘normal people’s money’.

[@thebutchalmighty]

"this banker" define his or her job.....it's like saying "this medical worker"....vague on purpose to demonise the industry

[@jamesbyrne9312]

You get paid exorbitantly. It's really very simple. Yeah you need to be clever but the pay structure us obscene

[@bobbyrickson]

My 25 year old school mate sometimes works 100 hour weeks. In the office for 6am and out at 8pm. Constantly drinking every night, relying on stimulants and adderal to get through the day. He gets paid a lot but at what cost? He’s not living

[@eriksvonrosen267]

he works now so he can live a nice life later.

[@hype2335]

@@eriksvonrosen267 exactly work now life no one else and then live like no one else

[@kanieraliapeng724]

@@hype2335 what??

[@Nazo_moon]

@@kanieraliapeng724 😂😂😂

[@watsappenin2865]

What if you fall I'll when your older? Plus people are in their prime in their 20s and 30s if you spend all them years chasing money then at 40 your left with not much friends or social life and just sums of money in the bank then sorry but poor people are living a much better ljfe

[@PeteS_1994]

I wonder why do we need others to tell us what makes us happy, we already know what does ourselves. From experience financially successful people don't always seem much happier than someone that isn't rich but can afford all their basic necessities.

[@luk303]

It is actually proven that life quality does not increase after 60K USD yearly income.

[@oclvcarbon123]

Oh, they're also being taxed at 40% or more by the way, and that's just getting started with income tax.

[@BurritoSenor]

Exactly, for example 100k sounds nice but does it sound as nice as 66k

[@Steveb7281]

We're all humans doing things we weren't designed to do to provide a living. It's no surprise so many are feeling the stress of a system out of control

[@hishdp1464]

Lol jordon belfort wasn't a banker 😅🤦‍♂️

[@NickJonathanFischbach]

Of course he was... a broker is also a banker. What do you think wall street bankers do. Giving advice to little private customers? They trade with stocks...

[@oxy204]

@@NickJonathanFischbach just talk about what you know

[@amulyamishra5745]

Investment banker

[@hishdp1464]

@@NickJonathanFischbach no he wasn’t 😂 . You have market makers within the sell side IB’s and they can facilitate markets and provide liquidity, some may trade / execute on behalf of clients. But belfort’s businesses was purely an advice/execution service on stocks, it did not handle client investments at all.

[@joshjouault9050]

@@hishdp1464 it took steve madden through an IPO though?

[@thebutchalmighty]

I'm sorry to say it, but this lot support our national GDP, come up with a new industry, then you can critisize

[@GonzoTehGreat]

The industrial revolution started in Britain. After WW2, the UK was a world leader in mining, steel production, industrial manufacturing, textiles, energy generation including nuclear power, electronics and computers. You have only to look at Japan or Germany to see what moderrn hi-tech goods they export. Also, financial services are not the only service industry. The service sector also includes I.T., education, (especially higher), scientific and technical services (including consultancy), defence (incl. armed forces) health (incl. NHS) retail, hotels, social care, restaurants.

[@andrewd6956]

@@GonzoTehGreat the thing is businesses who strive to scale up need the help of investment bankers/ banks. If businesses dabble in debt and equity securities then you will always need a banker.

[@andrewd6956]

@@tomchch ok

[@andrewd6956]

@Niels how would debt and equity markets operate without them?

[@sunnydavies3990]

For the people here defending the bankers and yes I'm referring to IBD lot, they chose this role, they knew the hours If they are unhappy then leave? Where is the issue?

[@lukeallan6486]

Even retail traders feel the stress.

[@nicolamiceli9097]

Well, one knows how it works before choosing that career path so..

[@Friendznco]

I know friends from high school that work at big investment firms and international investment banks such as Goldman, JP Morgan etc. Anyway most of these guys don't last two years at these places before they're chewed up and spat out, in a graduate position they're earning 65k AUD a year for working 12-14 hours a day and when their bonus arrives in the value of stock options they can't even cash them in for another five years. Investment banks are fucked I would recommend no one work there and if you are into finance go work at a smaller investment firm first.

[@alfredhitchcock45]

And then they complain if they're laid off

[@zannettos]

Poor bankers, we should give them a bonus to compensate them.

[@peninasemira3570]

It's every man for himself in the city of London

[@gianmariagori8991]

I'd love to live like that.. Never made it..

[@habibtalukter5895]

how far did you get?

[@awaqar2]

Greed, interest, money, chase for this world

[@kwekujunior2600]

This what happens when you employ people from history and french educational backgrounds. They have no clue what their doing @ these investment banks. Britain is an awful place.

[@hokageenergy9599]

The worst is that if you leave in bad terms you are fuked

[@tomchch]

Usury should be illegal. These guys should all be in jail

[@zippydodahquirk9039]

Yes they should

[@milotherussianblue3691]

So glad I got out of banking

[@billwang8502]

Why does everyone hate banker?

[@KurtGodel432]

Only those who don’t understand banking and think these people are unduly paid for what they do would hate them. Financial services are the bedrock of every developed capitalist economy.

[@KurtGodel432]

+Benny C ahem, Iceland didn’t jail all bankers and bankers are humans with families to raise to. The City of London plays a vital role in the UK and European economy. If you got rid of it, the UK would be a backwater like any other Eastern European country.

[@krill4235]

Yeah Eastern Europe, I have been there. Where Greece is failing economically and requiring aid and bailout from how many governments? Tell me that Italy and Romania, Turkey and Poland are better off than West Europe.

[@krill4235]

That's a really great philosophy you have there, do you want a medal? If your argument to why bankers are bad is 'because people who live in excess do so un-necessarily" then my friend, you are not worth having this conversation with. "they owe us taxpayers for bailing them out." The people who enabled them to cause that crash where the Government, who passed laws regarding financial regulation, the actual bankers themselves, the 'little' guy, isn't particularly doing much in this scenario. You owe more to the financiers than you would think. Some people would rather make an impact in the world and be remembered as something great, exceed their expectations of self rather than just enjoy life and be happy. Would you rather be the Italian dough maker making nice pastries out of his oven, or would you rather be the person, who pays for the dough maker's living and who says to people from the other side of the globe (where the dough-maker will never travel) "yeah Italy was nice"?

[@zackcash4941]

Envy

[@Dg-zj6jo]

1930 was worse

[@Azhucabomb]

Bankers should just buy Bitcoin. Jamie Dimon says make as much money as possible but don’t touch Bitcoin.

[@samspade5824]

They will all be leaving for Europe after the Brexit vote.

[@Mr74261000027]

😍😍😍 love it

[@HollowHill17]

oh stressful rich people worrying about their fancy mansions and car collection and their next pay day and never met a client that lives homeless near dumpster of their skyscraper scavenging for food for the past day and is beaten by their security and arrested by the cops because, they are an eye sore to society...... that is STRESSFUL

[@HK-tk4ix]

HOLLOW HILL unless you work in the city you would never know how it feels. But think about it, we work all our lives in order to get a job in the city. Once you're there you have to work crazy hours and the pressure is immense. Once you get home you're thinking about work and even on the weekend you're consumed by work. You earn all this money but never have any time to spend it. You can't leave because this is something you've worked your whole life for. Everyone has their struggles, whether you're a city boy or working in Burger King

[@GonzoTehGreat]

@@HK-tk4ix Nobody is forcing these people to work in these jobs. If you want to join the rat race then accept you're a rat!

[@sirtrollalot7762]

Mo' money, mo' problems

[@will9444555]

This is such a bad take. Lots of bankers come from poor areas of the country they just worked harder than you in school

[@alvarolopez8448]

@@GonzoTehGreat When you have a huge pile of student debt from a fancy school what else would you do?

[@Kuziai]

There is no fucking stress if you know what you doing. I made so much money in trading and my stress lvl is 0 lol

[@How.Dare.You.]

dont hire pricks. invest in clever, hard working, emotionally mature people. problem solved

[@asingh5035]

butterfflyess Fucking Agreed!

[@user-ew8ib7rr9k]

Those clever, hard working, emotionally mature people turns to those who only thinks about money, when they start working on London City, Wall Street etc

[@pdiddyprof]

true

[@tamarawest6203]

Why do bankers complain about being unhappy in the job? They know the culture and what will be required of them so why do they apply and accept the job? There are many people in much lower paid positions who are also unhppy and unhealthy but they get no air time, nor will they have the money to start a yoga studio to escape the daily grind. All in or all out mate.

[@alvarolopez8448]

Why do heroin addicts get air time if they're people who are worse off without expending a dime? Most of these lads have piles of student debt from their fancy degrees, and once they have paid off those they find themselves isolated due to the working hours: Friends and family have long forgotten about them. Thus, being the only thing left to just keep making money. You can't critisize people just because there are others who are "worse off", we all have problems. And when these start making groups of people commit suicide there must be at least some concern.

[@ichabaudcraine2923]

Diddums, I don't care if they all top themselves

[@gooner7911]

Ichabaud Craine they’re still human beings

[@laurenn123able]

you would when they're all gone along and there's no one to look after your pension fund..

[@ignazzzzzio]

doesnt anybody see the problem.is capitalism?

[@movesky6696]

should be low pay work make them see reality