100 hour weeks, insecure bosses, crippling pressure and crises of conscience

Hard at work

Life in an investment bank.

For decades, young people have dreamed about their first jobs on Wall Street - the first-year six-figure pay check, the prestige, and an entrée into vaunted halls of some of the most hailed banks.

CNNMoney reports that the reality, however, is far less glamorous, according to Young Money, a new book by journalist Kevin Roose who follows entry-level Wall Street analysts in their first two years at Goldman Sachs, Bank of America, JPMorgan and Credit Suisse.

The truth, as Roose found out, is that these 22-year-olds' lives were less about big nights out and lavish lifestyles and far more centered around 100-hour work weeks, insecure bosses, crippling pressure and crises of conscience.

'A lot of people when they picture Wall Street they picture the 'Wolf of Wall Street,' people making a lot of money, driving fast cars, doing cocaine', Roose told CNNMoney. 'It's not like that for the young people'.

It's true that the analysts are paid upwards of $100,000 right out of college to work at some of the most prestigious banks in the world. It's also a fact that these jobs give them entry into the best business schools, private equity firms and hedge funds.

Hit the link below to access the complete CNNMoney article:

Making 6 figures on Wall Street, but life stinks

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image: © Kai Chan Vong

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