American Bankers Association, Brought to you by Green Circle Life
Junior bankers at Goldman Sachs made a splash last year after their presentation outlining 100-hour workweeks and abusive conditions made headlines. Many bankers have left the industry since then, citing long working hours and inexistent boundaries between work and life. What is the big problem in banking? Their employees say: burnout.
Burnout levels for the financial services industry were estimated to be as high as 85% in 2016, even before the pandemic made it harder to balance life. Despite promises to change firm culture, the changes and headlines from the past few years have not solved Wall Street burnout (yet another Goldman analyst made headlines in September for quitting after 17+ hour workdays).
As bankers ease COVID-19 restrictions and return to office, it is key for HR managers to understand banking burnout so they can help their employees.
Read more at American Bankers Association