Investment Bankers strike? Thoughts on overworking

For someone who studied Economics and enjoyed the course, Investment Banking was a dream job. Being the whiz who plays around numbers, build models, manage mergers, explore acquisitions and meander around complex financial transactions while making cool cash? Enchanting!

That's what I thought until I heard the number of hours people put in to work weekly. 100-120 hours? Not me.

I once had a colleague (who is an averagely succesful investment banker now) who experienced incessant burn-outs when he started his career. His eyes were always red, his face wrinkled and his shoulder haggard. He didn't go on leave in two years until he almost slumped at his desk one day and got a one week bed-rest thanks to Doctor's recommendation.

Talking of Doctor's recommendation, the FIG associate who kicked the bucket last week will not be able to get that after working 120 hours consistently.

In response to this tragic death, it was rumoured that the the junior investment bankers in the US will go on strile yesterday, however, the mood today is that everyone is sober, and sombre.

Strike or not; this incident is another reminder of the need to revisit people-processes, and everything around the "work-life" balance discussion.

I am presently writing from a country that wholeheartedly believes in overworking. I mean, a twitter space was even organised to discuss if "Talents should work on public holidays". That's how much we work, and how much we are required to work.

As someone who started his career in Tax, working with a tax firm owned by two amazingly brilliant lawyers, I can not count how many times I worked till 10 or 11 pm, but should that be the norm?

I occassionally think it's a transferred culture- a perception handed down from senior colleagues. I worked 100 hours when I started my career so you must too. My Partners called me at 02:00am to wrap up legal documentations and annotate presentations so you must pick my calls at 02:00 am. Isn't this corporate slavery?

While it is very important to put in the hours, and put in the efforts; there needs to be a balance between putting in the hours and pushing through the hours and very importantly; people managers need to put required processes in place to ensure people are predisposed towards taking (and actually utilising their leaves when necessary).

How do we balance the dynamics of working overtime and paying your dues?

Share your thoughts below.

P:S- I am sending all my love to the family of the deceased; and I hope that this continous culture of working overtime in order to pay your dues draws its curtain soon and we do better than those who came before us.