I’ve
been playing a game I loved as a child when I considered horrifying
counterfactuals such as: under what conditions would I eat a bowl of
sick?
This time I’ve been pondering something even less appealing: what would make me regularly work 14 hours a day? I’ve come up with three possibilities. First, if I were being paid by the hour and my family was barefoot and hungry. Second, if it were my own business and I had become unhealthily obsessed with it. And third, if the work was a matter of life or death. If I had been a nurse behind the lines in the first world war, I would not have been clocking off at 5.30pm.
None of these situations applies to young investment bankers. They are under no financial pressure. Anyone who has been hired by Bank of America could surely have got a more civilised job elsewhere. The work of a banker in M&A (where Erhardt was posted) is hardly the sort of thing that spreads human happiness: all the studies show that more than half the deals bankers have talked clients into undertaking destroy rather than create value.
- More Here
This time I’ve been pondering something even less appealing: what would make me regularly work 14 hours a day? I’ve come up with three possibilities. First, if I were being paid by the hour and my family was barefoot and hungry. Second, if it were my own business and I had become unhealthily obsessed with it. And third, if the work was a matter of life or death. If I had been a nurse behind the lines in the first world war, I would not have been clocking off at 5.30pm.
None of these situations applies to young investment bankers. They are under no financial pressure. Anyone who has been hired by Bank of America could surely have got a more civilised job elsewhere. The work of a banker in M&A (where Erhardt was posted) is hardly the sort of thing that spreads human happiness: all the studies show that more than half the deals bankers have talked clients into undertaking destroy rather than create value.
- More Here
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