The Most Horrifying Part of Bloomberg’s Story on Young Bankers

A blog about business and economics.
May 12 2014 2:02 PM

The Most Horrifying Part of Bloomberg’s Story on Young Bankers

439778127_9cf5bd94fa_b
Young bankers on Wall Street are sacrificing their health for deals.

Photo by Nicola Romagna via Flickr.

Bloomberg pulled a Kevin Roose last week with a long story detailing how young bankers are fed up with their 90-hour workweeks. If you read Young Money, Roose's three-year investigation of young Wall Street culture, there isn't too much new in the Bloomberg piece. It hits all the main talking points on the plight of the entry-level banker: the sleep deprivation, the personal sacrifices, the question of whether or not the lucrative salaries are worth it.

But Bloomberg has dug up one anecdote that we've never heard before, and it's truly horrifying:

Executives can be less interested in their young assistants’ health than they are in getting a deal done, former junior bankers say. One recalls working on a deal through a nasty sinus infection. When the banker resisted flying out of town to meet with the client, the managing directors said it was mandatory.
The pressure from the flight ruptured the banker’s eardrum, which started bleeding. The team pushed on with the deal talks despite the fact that the banker had lost hearing in one ear. Upon returning to New York, the banker went straight to the emergency room, where doctors ordered no flying for the next five months, preventing the banker from attending future client meetings on crucial deals.
Advertisement

So you can now add "bleeding eardrums" and "hearing loss" to the potential risks of being a junior banker. Here's to hoping Wall Street will revise its sick-day policies, or that newbies will realize their health is more important than a deal.

Alison Griswold is a Slate staff writer covering business and economics.

 

TODAY IN SLATE

Politics

Don’t Worry, Obama Isn’t Sending U.S. Troops to Fight ISIS

But the next president might. 

The Extraordinary Amicus Brief That Attempts to Explain the Wu-Tang Clan to the Supreme Court Justices

Amazon Is Officially a Gadget Company. Here Are Its Six New Devices.

The Human Need to Find Connections in Everything

It’s the source of creativity and delusions. It can harm us more than it helps us.

How Much Should You Loathe NFL Commissioner Roger Goodell?

Here are the facts.

Altered State

The Plight of the Pre-Legalization Marijuana Offender

What should happen to weed users and dealers busted before the stuff was legal?

Surprise! The Women Hired to Fix the NFL Think the NFL Is Just Great.

You Shouldn’t Spank Anyone but Your Consensual Sex Partner

Moneybox
Sept. 17 2014 5:10 PM The Most Awkward Scenario in Which a Man Can Hold a Door for a Woman
  News & Politics
Altered State
Sept. 17 2014 11:51 PM The Plight of the Pre-Legalization Marijuana Offender What should happen to weed users and dealers busted before the stuff was legal?
  Business
Business Insider
Sept. 17 2014 1:36 PM Nate Silver Versus Princeton Professor: Who Has the Right Models?
  Life
Outward
Sept. 17 2014 6:53 PM LGBTQ Luminaries Honored With MacArthur “Genius” Fellowships
  Double X
The XX Factor
Sept. 17 2014 6:14 PM Today in Gender Gaps: Biking
  Slate Plus
Slate Fare
Sept. 17 2014 9:37 AM Is Slate Too Liberal?  A members-only open thread.
  Arts
Brow Beat
Sept. 17 2014 8:25 PM A New Song and Music Video From Angel Olsen, Indie’s Next Big Thing
  Technology
Future Tense
Sept. 17 2014 9:00 PM Amazon Is Now a Gadget Company
  Health & Science
Medical Examiner
Sept. 17 2014 11:48 PM Spanking Is Great for Sex Which is why it’s grotesque for parenting.
  Sports
Sports Nut
Sept. 17 2014 3:51 PM NFL Jerk Watch: Roger Goodell How much should you loathe the pro football commissioner?