Tragic death of young banker.
Wall Street has always had a problem balancing the staffing equation: having the right number of people around to give those employed a meaningful work experience but also free time to unwind and recharge.
William D Cohan writes in The New York Times that the typical Wall Street work cycle contributes a tricky variable. Deals often have deadlines by which they must be announced or consummated, and the work needs to be done to get them to that point. But it is not easy to anticipate when a deal might pop; it is not like an assembly line, where the work flow can be calculated precisely at each step.
Often, there are not enough junior professionals for the amount of work that needs to be done — or that senior professionals think needs to be done. As a consequence, the younger workers get pushed to their physical and emotional limits in long sleep-deprived days. Smartphones ensure no one is ever out of touch.
Sometimes, the consequences can be tragic.
Take the case of Thomas J. Hughes, a 29-year-old, highly paid junior banker at the investment banking boutique Moelis & Company. Last May 28, hours after returning to New York from a business trip to Cleveland, he jumped to his death from the stone windowsill outside his 24th-floor rental apartment in Lower Manhattan, according to the medical examiner’s report.
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