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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
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, 11,075
 
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, 1,429
 
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, 840
 
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, 11,075
 
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, 840
 
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, 7,695
 
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, 1,119
 
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, 3,053
 
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.

Check out my WSO Blog

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elephonky's picture

I've read plenty of posts on

elephonky
    
 
(Baboon, 156
 
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, 78
 
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, 11,075
 
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
 
(Senior Baboon, 178
 
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, 191
 
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, 156
 
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, 239
 
Points)
  on 2/15/12 at 9:59pm

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

............

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ProspectiveMonkey's picture

Wasn't there a story or two

ProspectiveMonkey
    
 
(Orangutan, 374
 
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, 563
 
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, 7,695
 
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, 840
 
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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Hey guys, it’s been some time since I posted regularly on this site. That’s what happens when you start working in finance; you don’t have any time. So why am I posting? It’s because I am seeing an injustice being done to a lot of military guys (and gals) who are discovering they want to...
To all Military who want to work in IB/PE/Consulting
<em>Mod (Andy) note: </em><a href="http://www.wallstreetoasis.com/blog/phantombankers-gmat-study-guide">Here is the link to his study guide</a> Background: I recently took the GMAT and scored a 770 on my first and only try. Long story short, I studied and took...
How I got a 770 on the GMAT with minimal effort while working banking hours…
There was much wailing and gnashing of teeth at the close on Friday over the perceived lack of performance in the Facebook IPO. The stock priced at $38, opened at $42.50 (after a few hiccups at the NASDORK), and closed at exactly $38 after an effort by the syndicate members akin to the Spartans at...
IPO Pricing 101
Hey Guys, Been using this site for a while now and figured it would be beneficial for me to give back a bit. For starters, I thought I would detail my experiences using linkedin and cold emails to land a summer offer. Coming from a semi-target undergrad b-school, I had my hands full....
How I used LinkedIn to get Interviews and Land Offers
<a href="http://www.wallstreetoasis.com/blog/what-does-the-labor-participation-rate-say-about-our-society">Back on the topic of what the composition of the labor force says about our society</a>, the New York Times recently put out this <a...
Grandpa And Grandma Are Taking Our Jobs
The Clear Admit Shop currently has <em>free b-school "snapshot" guides</em> <a href="http://clearadmit.shop.studylink.com/index.cfm?onsale=1">available for download here.</a> The guides aren't terribly comprehensive, but can serve as a...
Free B-School Guides!
There she is again: Diane Sawyer, the primary ABC evening news anchor, with another installment in their interminable series of reports on imports and employment in America. I could just strangle her. One week their (alleged) reporters go to people’s houses and look at everything the occupants...
Sawyer’s Syndrome: The ABCs of Trade and Employment
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
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3%
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Other People's Money
0%
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Wall Street
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