Tuesday, March 20, 2018

"Concerned about your health? Don't become an investment banker..."

From City AM:

Investment banking worst for your health says giant survey of British bank employees
Investment bankers think their jobs are the more damaging to their health than their counterparts in business or retail lending, according to a massive survey of British bank employees.

Some 29 per cent of investment bank employees said their job is having a negative impact on their wellbeing, a poll of more than 36,000 bankers by the Banking Standards Board (BSB) will show today.

On average across the banking sector 26 per cent of employees had a negative perception of their job’s effect on their health.

Investment banking was the outlier on wellbeing in both the 2016 and 2017 surveys, in spite of investment bankers reporting they felt under less “excessive pressure” than other branches. The BSB’s report suggested high levels of pressure are par for the course for banks’ dealmakers.
Investment bankers were also the least likely to respect their risk and compliance departments.

The poll also found women were significantly more likely to believe that turning a blind eye was a problem at their bank, at a time when the spotlight on sexual harassment in the workplace has become more intense.

The huge survey was started to help banks work out how to improve their cultures, after the string of misconduct scandals which has besmirched the reputation of the sector and lead to billions of pounds of fines....MORE