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Wall Street Oasis » Forums » I-Banking Bullpen

Banking is Bad for your Health Forum's RSS Feed Share

Adelbert_Buffington's picture
by Adelbert_Buffington      CO
 
(Monkey, 62
 
Points)
  on 2/15/12 at 2:18pm
Stressed Banker

From this morning's WSJ:

Every individual she observed over a decade developed a stress-related physical or emotional ailment within several years on the job, she says in a study to be published this month

What do you monkeys think? This is stating the obvious, but all the Adderall, sleep deprivation, and sh*t-taking has to catch up to everyone someday.

from: http://online.wsj.com/article/SB1000142405297020406270457722362382494447...

-Adelbert

It is better to be vaguely right than exactly wrong - JMK
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Tags:
  • health
  • Banking
  • I-Banking Bullpen
MD8's picture

I don't think she has any

MD8      IB
 
(Senior Monkey, 68
 
Points)
  on 2/15/12 at 9:35am

I don't think she has any idea what she's talking about.

The average banker gaining 30-40 pounds is completely ridiculous. Also, there is no way that associates were working 6am-midnight (no one gets there before 9am).

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Edmundo Braverman's picture

ROFLMAO. Quote: A University

Edmundo Braverman      ST
 
 
(Human, 10,971
 
Points)
  on 2/15/12 at 10:01am

ROFLMAO.

A University of Southern California researcher found insomnia, alcoholism, heart palpitations, eating disorders and an explosive temper in some of the roughly two dozen entry-level investment bankers she shadowed fresh out of business school.

Gee, ya think???

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duffmt6's picture

Edmundo Braverman

duffmt6      IB
 
 
(King Kong, 1,414
 
Points)
  on 2/15/12 at 10:06am
Edmundo Braverman:

ROFLMAO.

A University of Southern California researcher found insomnia, alcoholism, heart palpitations, eating disorders and an explosive temper in some of the roughly two dozen entry-level investment bankers she shadowed fresh out of business school.

Gee, ya think???

Does it count as insomnia if you aren't actually allowed to go to sleep? Is Seamlessweb an eating disorder?

"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie

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SECfinance's picture

In other news, Eddie hates

SECfinance      IB
 
(Senior Gorilla, 824
 
Points)
  on 2/15/12 at 10:14am

In other news, Eddie hates marriage and IP is cheap.

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Edmundo Braverman's picture

SECfinance wrote: In other

Edmundo Braverman      ST
 
 
(Human, 10,971
 
Points)
  on 2/15/12 at 10:16am
SECfinance:

In other news, Eddie hates marriage and IP is cheap.

Not so. I love marriage, I just happen to think it's a horrendously bad idea. Like alcoholism.

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SECfinance's picture

Edmundo Braverman

SECfinance      IB
 
(Senior Gorilla, 824
 
Points)
  on 2/15/12 at 10:18am
Edmundo Braverman:
SECfinance:

In other news, Eddie hates marriage and IP is cheap.

Not so. I love marriage, I just happen to think it's a horrendously bad idea. Like alcoholism.

Point taken.

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IlliniProgrammer's picture

SECfinance wrote: In other

IlliniProgrammer      ST
 
 
(Almost Human, 7,625
 
Points)
  on 2/15/12 at 11:00am
SECfinance:

In other news, Eddie hates marriage and IP is cheap.

I'm not cheap, I'm THRIFTY! There's a difference.

Cheap means I party at 1Oak and leave a 10% tip. Thrifty means I grab a yuengling at a local dive bar's happy hour for $3 and leave a $1 tip.

Work hard, play hard.

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Revolution's picture

IlliniProgrammer

Revolution     
 
(Gorilla, 720
 
Points)
  on 2/15/12 at 11:14am
IlliniProgrammer:
SECfinance:

In other news, Eddie hates marriage and IP is cheap.

I'm not cheap, I'm THRIFTY! There's a difference.

Cheap means I party at 1Oak and leave a 10% tip. Thrifty means I grab a yuengling at a local dive bar's happy hour for $3 and leave a $1 tip.

I prefer the term "economically efficient"

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CityRainMaker's picture

it's the competition that

CityRainMaker      ST
 
(Monkey, 45
 
Points)
  on 2/15/12 at 11:22am

it's the competition that drives me, love this work

Rien à prouver.. neuf quatre

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newuser's picture

MD8 wrote: I don't think she

newuser     
 
(Chimp, 1
 
Points)
  on 2/15/12 at 11:40am
MD8:

I don't think she has any idea what she's talking about.

The average banker gaining 30-40 pounds is completely ridiculous. Also, there is no way that associates were working 6am-midnight (no one gets there before 9am).

West Coast =/= New York

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Pike's picture

Haters gonna hate

Pike     
 
(King Kong, 1,033
 
Points)
  on 2/15/12 at 12:10pm

Haters gonna hate

Good is the enemy of Great

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ConanDBull's picture

Revolution

ConanDBull      CO
 
(Senior Orangutan, 480
 
Points)
  on 2/15/12 at 3:09pm
Revolution:
IlliniProgrammer:
SECfinance:

In other news, Eddie hates marriage and IP is cheap.

I'm not cheap, I'm THRIFTY! There's a difference.

Cheap means I party at 1Oak and leave a 10% tip. Thrifty means I grab a yuengling at a local dive bar's happy hour for $3 and leave a $1 tip.

I prefer the term "economically efficient"

Amen to that brother...

I work a full time, partime, go to uni and hustle Leafs/Raptors tix on the side... so just under 100 hrs a week all in... im definitely starting to feel some side effects... consulting will be a cinch whenever i get in lol... my body will be trained to handle all this no sleeping crap

"Know what to do, know how to do it, and do it hard." - Juan Castillo

If you are in the Toronto Area join my group "Toronto Prospective Monkeys"
http://www.wallstreetoasis.com/group/toronto-prospective-monkeys

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Hoogerman's picture

Revolution

Hoogerman      O
 
(Senior Baboon, 243
 
Points)
  on 2/15/12 at 3:23pm
Revolution:
IlliniProgrammer:
SECfinance:

In other news, Eddie hates marriage and IP is cheap.

I'm not cheap, I'm THRIFTY! There's a difference.

Cheap means I party at 1Oak and leave a 10% tip. Thrifty means I grab a yuengling at a local dive bar's happy hour for $3 and leave a $1 tip.

I prefer the term "economically efficient"

rofl

I banana back

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whatwhatwhat's picture

Edmundo Braverman

whatwhatwhat      HF
 
(King Kong, 1,108
 
Points)
  on 2/15/12 at 3:30pm
Edmundo Braverman:

ROFLMAO.

A University of Southern California researcher found insomnia, alcoholism, heart palpitations, eating disorders and an explosive temper in some of the roughly two dozen entry-level investment bankers she shadowed fresh out of business school.

Gee, ya think???

what if we already have those before work? 3/5 for me.

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TheKing's picture

CityRainMaker wrote: it's the

TheKing      PE
 
 
(Neanderthal, 3,024
 
Points)
  on 2/15/12 at 4:15pm
CityRainMaker:

it's the competition that drives me, love this work

Something about this post made me crack up.

Financial Modeling Training
Guide to Finance Interviews
Banking Resume

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elephonky's picture

I've read plenty of posts on

elephonky     
 
(Baboon, 155
 
Points)
  on 2/15/12 at 5:20pm

I've read plenty of posts on this at M&I, and honestly I'm not surprised that an official investigation found these results. But can some of you elaborate on this? As in, what does it feel like to spend a whole day running on red bull/Starbucks? Is everyone constantly tweaking on amphetamines?

I've had my fair share of school + work weeks that had me sleeping at 2am and waking up at 6 to start all over again. It was only worth it when I got to see people I enjoy being around and stayed active. Is there any time in IB to exercise during the day (i.e. some down time in the afternoon, etc)? Could I sneak out for a half hour run as long as i had my phone in case i was needed? Also can anyone shed light on the order out food options? How much can you spend on food each day?

Sorry for my ignorance guys.

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TheBenevolent's picture

^ ^ no down time, you crank

TheBenevolent      IB
 
(Senior Orangutan, 463
 
Points)
  on 2/15/12 at 5:44pm

^ ^

no down time, you crank from 6am to 2am straight

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SF_Reg's picture

TheBenevolent wrote: ^ ^ no

SF_Reg     
 
(Senior Monkey, 69
 
Points)
  on 2/15/12 at 5:54pm
TheBenevolent:

^ ^

no down time, you crank from 6am to 2am straight

Haha.

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Edmundo Braverman's picture

I never had trouble staying

Edmundo Braverman      ST
 
 
(Human, 10,971
 
Points)
  on 2/15/12 at 6:11pm

I never had trouble staying "up" for the job, my problems were always coming down after. That's where the booze came in. Might be the difference between trading and IB. Also, I wasn't putting in the monster hours. At its worst, I was working 75 hours a week.

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thatsWACC's picture

elephonky wrote: I've had my

thatsWACC     
 
(Monkey, 51
 
Points)
  on 2/15/12 at 6:25pm
elephonky:

I've had my fair share of school + work weeks that had me sleeping at 2am and waking up at 6 to start all over again. It was only worth it when I got to see people I enjoy being around and stayed active.

Aren't you still in high school?!?

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MD8's picture

elephonky wrote: I've read

MD8      IB
 
(Senior Monkey, 68
 
Points)
  on 2/15/12 at 6:36pm
elephonky:

I've read plenty of posts on this at M&I, and honestly I'm not surprised that an official investigation found these results. But can some of you elaborate on this? As in, what does it feel like to spend a whole day running on red bull/Starbucks? Is everyone constantly tweaking on amphetamines?

I've had my fair share of school + work weeks that had me sleeping at 2am and waking up at 6 to start all over again. It was only worth it when I got to see people I enjoy being around and stayed active. Is there any time in IB to exercise during the day (i.e. some down time in the afternoon, etc)? Could I sneak out for a half hour run as long as i had my phone in case i was needed? Also can anyone shed light on the order out food options? How much can you spend on food each day?

Sorry for my ignorance guys.

Yes, we have a pull-up bar in the office. You can usually make it to the gym most evenings; however, this is easier to do when you're full-time opposed to being an intern. Seamless is $25 for dinner plus lunch on weekends for most banks.

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rynofrowan's picture

Edmundo Braverman

rynofrowan      ST
 
(Baboon, 172
 
Points)
  on 2/15/12 at 6:47pm
Edmundo Braverman:

ROFLMAO.

A University of Southern California researcher found insomnia, alcoholism, heart palpitations, eating disorders and an explosive temper in some of the roughly two dozen entry-level investment bankers she shadowed fresh out of business school.

They were still reeling from the departure of YoHoo

Moving tonnes of product. Making fat stacks.

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westsidewolf1989's picture

ConanDBull wrote: Revolution

westsidewolf1989      IB
 
(Senior Baboon, 187
 
Points)
  on 2/15/12 at 8:22pm
ConanDBull:
Revolution:
IlliniProgrammer:
SECfinance:

In other news, Eddie hates marriage and IP is cheap.

I'm not cheap, I'm THRIFTY! There's a difference.

Cheap means I party at 1Oak and leave a 10% tip. Thrifty means I grab a yuengling at a local dive bar's happy hour for $3 and leave a $1 tip.

I prefer the term "economically efficient"

Amen to that brother...

I work a full time, partime, go to uni and hustle Leafs/Raptors tix on the side... so just under 100 hrs a week all in... im definitely starting to feel some side effects... consulting will be a cinch whenever i get in lol... my body will be trained to handle all this no sleeping crap

People go to Raptors' games when J Lin ain't in?

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elephonky's picture

SF_Reg wrote: TheBenevolent

elephonky     
 
(Baboon, 155
 
Points)
  on 2/15/12 at 8:41pm
SF_Reg:
TheBenevolent:

^ ^

no down time, you crank from 6am to 2am straight

Haha.

My question was clearly not about simply having "down time" in the context of sitting at your computer with no work to do. I'm in high school - I understand what spending hours on the internet feels like, and I know that bankers do too. I want to know if there are chances to get out of the office and get a quick run in, etc.?

As in, if your boss shows up at your cubicle and you're not there, what happens, and does he accept an excuse for leaving the office to get some fresh air? (this assumes that you're not a dumbass and you don't leave the office when it's clearly unacceptable).

thatsWACC:
elephonky:

I've had my fair share of school + work weeks that had me sleeping at 2am and waking up at 6 to start all over again. It was only worth it when I got to see people I enjoy being around and stayed active.

Aren't you still in high school?!?

Indeed. I'm one of those rare white kids that's fighting the educational downfall of America, and I need a job in order to pay for my car, etc. It'd be nice if it paid off with a college acceptance letter or two...

MD8:
elephonky:

I've read plenty of posts on this at M&I, and honestly I'm not surprised that an official investigation found these results. But can some of you elaborate on this? As in, what does it feel like to spend a whole day running on red bull/Starbucks? Is everyone constantly tweaking on amphetamines?

I've had my fair share of school + work weeks that had me sleeping at 2am and waking up at 6 to start all over again. It was only worth it when I got to see people I enjoy being around and stayed active. Is there any time in IB to exercise during the day (i.e. some down time in the afternoon, etc)? Could I sneak out for a half hour run as long as i had my phone in case i was needed? Also can anyone shed light on the order out food options? How much can you spend on food each day?

Sorry for my ignorance guys.

Yes, we have a pull-up bar in the office. You can usually make it to the gym most evenings; however, this is easier to do when you're full-time opposed to being an intern. Seamless is $25 for dinner plus lunch on weekends for most banks.

Not sure if serious about pull-up bar....

Good to hear about the gym. I'm not so worried about lifestyle as an intern, because (assuming I even get any internships), I only have to endure that for a few months. FT lifestyle concerns me a lot more.

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kmess024's picture

Too much banking is bad, but

kmess024     
 
(Senior Baboon, 233
 
Points)
  on 2/15/12 at 9:59pm

Too much banking is bad, but that applies for all things..too much is always bad.

"Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time"-Warren Buffet

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ProspectiveMonkey's picture

Wasn't there a story or two

ProspectiveMonkey     
 
(Senior Orangutan, 375
 
Points)
  on 2/15/12 at 11:42pm

Wasn't there a story or two in 2007-2008 where a banker woke up and didn't remember anything up to that point in their life? Forgot the medical term for it and was looking for the article but couldn't find it.

Either way, crazy to think that even just a few years spent in a high stress environment can cause issues that affect you the rest of your life.

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Sexy_Like_Enrique's picture

ProspectiveMonkey

Sexy_Like_Enrique     
 
(Gorilla, 703
 
Points)
  on 2/15/12 at 11:48pm
ProspectiveMonkey:

Wasn't there a story or two in 2007-2008 where a banker woke up and didn't remember anything up to that point in their life? Forgot the medical term for it and was looking for the article but couldn't find it.

Either way, crazy to think that even just a few years spent in a high stress environment can cause issues that affect you the rest of your life.

shit, is this real?

really scary.

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aempirei's picture

IlliniProgrammer

aempirei      IB
 
(Gorilla, 552
 
Points)
  on 2/16/12 at 1:03am
IlliniProgrammer:
SECfinance:

In other news, Eddie hates marriage and IP is cheap.

I'm not cheap, I'm THRIFTY! There's a difference.

Cheap means I party at 1Oak and leave a 10% tip. Thrifty means I grab a yuengling at a local dive bar's happy hour for $3 and leave a $1 tip.

There isn't a better bang for your buck then a Yeungling Lager. I'll be drinking that the rest of my life.

BTW, I don't know how prevalent it is now, but a few years ago they barely shipped out of the PA/Maryland/Deleware region. I know they recently opened a distillery in Tampa or somewhere down south. Where do you live Illini?

My name is Nicky, but you can call me Dre.

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IlliniProgrammer's picture

New York, now. You're right,

IlliniProgrammer      ST
 
 
(Almost Human, 7,625
 
Points)
  on 2/16/12 at 8:32am

New York, now.

You're right, they don't have it in Chicago. Head west of Pittsburg, and you're in Leinenkugel's country.

Work hard, play hard.

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SECfinance's picture

aempirei wrote: There isn't a

SECfinance      IB
 
(Senior Gorilla, 824
 
Points)
  on 2/16/12 at 9:30am
aempirei:

There isn't a better bang for your buck then a Yeungling Lager. I'll be drinking that the rest of my life.

BTW, I don't know how prevalent it is now, but a few years ago they barely shipped out of the PA/Maryland/Deleware region. I know they recently opened a distillery in Tampa or somewhere down south. Where do you live Illini?

Yuengling has come on real strong in the past few years - very popular down the Atlantic coast and in Georgia from what I've seen.

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hundge at top rate's picture

Remember feeling some of this

hundge at top rate      IB
 
(Baboon, 126
 
Points)
  on 2/16/12 at 12:28pm

Remember feeling some of this during the ten week sprint that is the summer analyst program. Getting out at an hour where I could get more than 4 hours of sleep in felt like Christmas morning.

Saw an associate pass out in a meeting once during that summer.

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Alpine's picture

This is a pretty scary

Alpine      IB
 
 
(Baboon, 114
 
Points)
  on 2/17/12 at 5:19am

This is a pretty scary article but I do see a lot of health issues in a lot of people due to this job (maybe not as extreme as the research suggests but still).

For example, people start looking a lot older, start getting grey hairs from the stress/lack of sleep (even an Analyst in his early 20's in my team found a grey hair the other day), mood swings (it's amazing how easily you get pissed off at meaningless stuff when you had very little sleep), people gaining weight (although my team has been pretty good at being very careful with diet and trying to get to the gym at least 2x per week), back problems, relationship issues (hard keeping gf/wife happy in this job) and general miserableness.

Currently, people are especially pissed off because clearly bonuses were terrible for last year but we are being asked to work even harder without more people as activity is picking up and also doing a lot of marketing/pitching as MD's are worried about their jobs obviously. So even tougher hours but not good pay (especially for Analysts where bonus isn't really a bonus but just delayed comp). I think a lot of people I speak with currently are going to exit this industry permanently within the next 3-6 months (it's surprising how little people seem to care about making less money but gaining a lot work-life balance and not having to deal with all the negative attention on this industry / banker hating (where you're embarrassed to tell people you work in 'banking') + structural changes leading to lower future payouts (potentially forever) + getting even less support for projects (even if live and large deals). Other opportunities are there but will take longer to get the right new job in the current market obviously.

Let's see how this shakes out but things are changing... (still on the fence myself)

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This site has really been an amazing help along my career path and I felt that it was necessary to try and give back to the community and hopefully give some hope to the fellow non targets out there that are trying to break in. I also wanted to thank everyone on this site who have been extremely...
Non Target Success Story: MBB Summer Intern
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a...
WSO Campus Representative Program
Just got back from a quick lunch break, first one i've had in 6 months not at the desk. I'm a 25yro quant trader/geek at a well known hedge fund in NYC and I pull in around $250k-$500k, all in, depending on the year. I was just at a bar downtown and this well known 23yro actress came in...
Just got a famous actresses' number. Would a young trader have any chance with a hot rich actress?
A common thread we see on WSO from time to time is regarding working for banks in their regional offices. As banks are leaning towards more cost cutting and squeezing every dollar they can from their operations,<strong> a popular tactic has been to expand existing business and move...
Consider your BB regional office.
Really pretty girl. 22 yro. Just graduating out of Columbia. Majored in computer science. So, shes really smart too. I'm a 25yro third year analyst at a BB. Date went well. Dinner went really well. We laughing all the time and then I asked her what are the most important things she...
Got back from a date. This is what she said. Is this a red flag?
Broke the news to a few monkeys in the chat room, but I proposed to my long-time girlfriend yesterday and now we're engaged. Never been scared about much of anything in my life, and always had a good idea about how to approach new situations. A bit lost on this one. Anyone (other than...
Just Got Engaged
I'm going to be an organ donor in the next few months (kidney, to my dad). I'm not at all in it for the glory (except for subtly dropping it when i'm picking up a chick at the bar) BUT should I add this experience to my resume? If so, how and where? If its subtle / small / at...
Add "Organ Donor" to my resume?
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What's your favorite Finance-related movie?
American Psycho
17%
A Good Year
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Barbarians at the Gate
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Boiler Room
8%
Enron: The Smartest Guys in the Room 
6%
Glengarry Glen Ross
3%
Harold and Kumar
3%
Inside Job
0%
Margin Call
22%
Other People's Money
3%
Pursuit of Happyness 
6%
Rogue Trader
0%
The Family Man
0%
The Game 
0%
Stocks and Blondes
3%
Trading Places
0%
Wall Street
31%
Wall Street 2
0%
Total votes: 36
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