Finance may seem like a glamorous world from the outside looking in but for people in the thick of all of it, it’s a whole new ugly hellish realm of burnout and overwork. Because of this, there’s a 10% rise in bankers under 30 who suffer from illnesses that stem from stress and fatigue such as heart attacks and cardiac conditions.
It’s not a new state of affairs in the finance sector. In fact, measures had already been taken following the death of a Bank of America intern. However, these measures are largely ignored by industry captains and they continue to keep employees stuck in the office for an unhealthy amount of time. As a result, cases of cardiac arrhythmia and myocarditis among young bankers are steadily increasing. Doctors suggest that these conditions are likely triggered by fatigue, stress, and drug use.
The prevalence of drug users in the finance industry is also an interesting subject to look at. The 12 – 14-hour workdays often demanded by banks are likely causing employees to take uppers such as cocaine in order to cope with fatigue and lack of sleep. However, their drug habits are adding to their health issues by amplifying the negative effects of their exhaustion.
Researchers from the Administrative Science Quarterly even published a study in 2012 where they followed the lives of 4 groups of rookie investment bankers from different banks. They noticed that by year 4 of their careers, all of them had already developed stress-related illnesses.
There is also evidence that this phenomenon of young people falling ill due to stress is not only confined to finance but is also slowly encroaching to other industries as well. It is becoming so widespread that doctors are starting worry and had begun calling for more research.