Investment Banker Dies Because He Worked Too Much…
Bank of America Intern Death Sheds Light On Cutthroat World Of Aspiring Bankers
BY Eleazar David Menendez
After learning that a summer intern within its investment banking unit had been found dead at his London student housing complex last week, Bank of America offered the other interns in his program the opportunity to call it quits.
They all had just one week left on their contract, but, according to London’s Financial Times, no one went home.
Such devotion is part of a hard-charging, competitive culture that some blamed for the death of 21-year-old intern, Moritz Erhardt. Since he was found dead by flatmates in his London apartment, talk spiraled online suggesting long hours were at least partly to blame. On Friday, John McIvor, the London spokesman for Bank of America, told The Huffington Post the bank will convene a formal working group to look into Erhardt’s death, as well as to consider how to improve the work-life balance of the institution’s junior staffers.
McIvor said the action was not an acknowledgement by the bank that overwork had contributed to Erhardt’s death, as has been intimated by many commenters since the incident became known last week. Rather, McIvor said, “it’s an acknowledgement that there’s always things that we can learn.”
Several former investment banking interns gave HuffPost a glimpse into the banking’s hard-charging work environment.
“I know five of my fellow interns who pulled all-nighters over the past eight weeks,” a London investment banking intern at JPMorgan, who asked her name not be used, told The Huffington Post. “Someone stayed at the office to continue work until after 10 p.m. on the following day, bringing the total hours worked in one go up to around 40.”
If we’re being honest, we can drop the whole “he died because he worked too much” act… He died because he was a threat to all the other Investment Bankers.. and they put the hit on his head.. rich investment bankers can do that. And we can throw the all-nighters out the window too.. I’ve pulled all-nighters before.. on a weekly basis, study for a couple exams last minute find myself in the library for 24 hours.. it’s happened.. did I die? No. Did I masturbate in the library’s bathroom during them? Maybe. I worked 85 hours a week in July.. Did I die? No. Granted I was scooping ice cream and playing basketball with kids all day at some day camp.. but I even had time to slip some German au pairs in to my schedule, while balancing a relationship with the old ball and chain. I think this stories in the title here “Bank of America Intern Death Sheds Light On Cutthroat World Of Aspiring Bankers” you’re damn right it’s cutthroat.