Calling All Bankers: This Is For You
While the life of a banker is one that is thought of as prestigious and holy, those in the profession know that the job entails arduous political management, intense focus, vapid connection to social life, and much more. While this is everything you signed up for, you (likely) need a place to vent. But calling your friends, parents, and significant other endlessly to complain feels like talking to a brick wall. They just don’t understand. Moreso, sometimes it would be nice to hear other talk about navigating problems, or even being able to share advice on situations.
Welcome to Balancing The Bank, a newly formed anonymous group designed to give those in high finance a place to communicate, destress, and vent about the baggage weighing them down. My name is Archer, and I’m a 2nd year associate in coverage with a degree in psychology. I formed this group to create an environment for people to lean on and use anonymously. As someone who went to therapy, I found it frustrating navigating the gates of basic communication. Underqualified therapists, insurance, long treatment plans, medication, the stigma around it: all barriers that keep people out of therapy or give up finding a place to do the most basic human action: talk.
Balancing The Bank meets virtually once a week (Sat or Sun TBD) for members to talk about their week, their stress, and come together to offer joint solutions. Above all, the platform offers a place to be heard or to listen, allowing for the understanding that the industry is hard. We welcome all levels from interns to seniors to participate in this anonymous (and free) group. While more details are to come, please drop a comment if this is something you would be open to weekly or biweekly. Should there be enough interest, I will communicate next steps. Looking forward to seeing the response.
Interested
Interestdd
Interested
So basically you want to start a therapy group
Sounds like a support group - tell us what the big bad MD said to you!
Different times
When my senior MDs were coming up, they didn't drug test and first year analysts weren't bringing in tupperware because they were barely above even pre-bonus.
/
don't act like this shift is gen z's fault. It's like when older generations complain about the participation trophy effect/trend not acknowledging that they were the ones giving the fucking things out. We are the product of the world older people built. Not to say that totally absolves zoomers from being soft but just keep that in mind.
interested
Great idea; I made a post about this almost 2 years ago (anonymously). I think it's an incredible idea, as really only professionals that have been in or are in this industry can understand the struggles. With that said, there are a couple of questions that should be addressed very clearly to anyone interested.
Let me reiterate that this is a great idea and would be interested in joining; but again, having been a part of peer groups in the past, the single most important key to making them work is trust. In most peer groups this is often an implicit assumption because you're almost always meeting with complete strangers, so you feel more free to share openly. This is the type of resource this industry needs, but also understand there are a lot of people in this field that don't give a shit about other people (see half the stories on this site of nightmare MDs, VPs and associates). I think this fact combined with being in a very tight-knit industry can create a lot of opportunity for nefarious actors. Just some things to consider.
Ultimately, it's my belief that there needs to be some authority involved to give it legitimacy and a level of safety (e.g. WSO associating itself with it).
Hey man. Great points. Thought of these and address below
1) Join via zoom. Upon entry I message you asking for bank and product or coverage group (not specific ex: BofA Coverage Tech just BofA Coverage). If there are two people from same bank (regardless of group), I message the individuals letting them know someone else from their bank is there.
2) Each week we'll have a set goal in mind and topic to cover. Ex: managing up, managing down, stress relievers, social life, conflict aversion etc. Because of that theme, individuals can share stories from their past/current role but not so specific that it's "hey I just got blown up by my VP last night wtf". So it eliminates a scenario where things are happening in real time. I will lead discussion and allow people (if need be) to voice their thoughts if they are really having a hard week. Could be a round table depending on member so if there's only 6-7 people that's enough time for everyone to share in depth.
3) Not specific to banking. In fact, I think having more people just in general finance helps creates insight in problems you're too close to see. Ex: Agency trader getting crushed by upper management gets advice from 2nd year analyst in managing up.
Looks like there isn't a lot of interest but it's still a solid idea. I have always thought a SOHO House type of thing for bankers would do well but not just a place to crash but to workshop and use as a resource like an elite club not just a drinks place. Hard criteria to get in but great resources and opportunities.
I think those are all great responses.
IMO this is something that gains momentum over time. Starting with even just 3-4 people would be a pretty big win. Would be interested in getting it off the ground if you need any assistance
Would love the assistance. Will circle around after few days to see if any others interested.
...
Template: I’m so stressed about that deal for X company that values it at Y valuation that will be announced by Z date.
Expedita dolor occaecati dolor quo cum suscipit ipsa. Iste occaecati quo similique minima tempora odit.
Quae qui quam dolores provident impedit. At autem consequatur vel alias voluptatem non alias. Excepturi ullam accusantium quia aut et. Voluptates et molestiae alias modi. Consequatur deleniti voluptas beatae distinctio doloribus ullam cumque. Ea ea iusto et. Enim animi consequatur vero atque quos nam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...