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Guest comment: Is a banking career worth the sacrifice?

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We all need enough financial resources to get by and then some for those nasty little contingencies that come our way. But once those needs have been met, it is always good to step back and re-appraise what life is all about.  Read all comments »

Are long hours, high pressure and bonus obsession worth it? The premature death of a close relative has helped one ex-banker put things into perspective.

Over the past couple of weeks, I’ve been asking myself a lot of questions about my recent life. My cousin, one of my best friends and more akin to a sister than a cousin, died two weeks ago at just 42. A life tragically cut short, suddenly one sunny January Monday morning. She leaves behind a husband, two young toddlers who don’t understand what has happened and will not remember their mother, and a wealth of grief compounded by legal and tax hell.

For 15 years I worked hard in the City. I was obsessed with doing a good job, working long hours, winning mandates, getting paid and promoted. It was exciting to be a 'name' in the market and to be cited in the financial press. It gave me a buzz.

The accolades of my clients and colleagues were crystallized in a year-end review and bonus number. I felt worthy.

My firm had a genuine commitment to work-life balance, and as an MD, I was encouraged to promote it. But for most of my career, I didn’t really follow it myself. Many of the people I worked with were the same: we thrived in the high pressure environment. I had an adrenaline rush from going to work, wrapped up in the excitement of doing deals.

My friends stopped calling me as I was never available (or if I did make plans I generally had to change them), my husband was fed up with the phone ringing in the middle of the night, and at me for constantly focusing on my Blackberry. I didn’t care; I was seduced by my work. I was ensconced in my own bubble.

These days, I think about my cousin, her children and husband constantly. The things I could have said and done. How often I blew her off because I had to work, how often I forgot to call back, called her back with my mind on other things, didn’t go to see her, was critical of her. I can’t sleep.

I quit work 18 months ago to spend time with my family, to change my life, to get to know my children, to reconnect with my husband, to have a life. Yes, we have less money than before – we have gone from two incomes to one. But we are happier. The stress has dissipated. My husband and I have a normal relationship. Our children know both their parents. It was the right decision. My life has moved on. I wish I could have shared it with my cousin for longer.

COMMENTS

Ben, Research,  Sun 24 Feb 08

Thanks for sharing your thoughts with me, my mother passed away when I completed Uni and I totally agree that the value of life is irreplacable. I studied overseas and had regretted not spending more time with her.

I am still at an early stage in my career, and soon I will move back to asia, hopefully to take my career to a new stage. I will work hard to earn $, give a good life to my family but I will promise myself to keep life in perspective. Not to neglect those important people around me.

There is an excellent book I've read called "Tuesday with Morrie", that really resonates with the idea of work life balance.

God bless.

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Work-Life Balanced, Risk Management,  Wed 26 Mar 08

Dear ex-Banker

Thank you for sharing.

We all need enough financial resources to get by and then some for those nasty little contingencies that come our way. But once those needs have been met, it is always good to step back and re-appraise what life is all about.

Although you have lost your cousin and close friend, you have also managed to turn the painful loss into something positive and meaningful. If your cousin were alive today, I think she would be proud of what you have done.

The answer to the question title of your essay would be: Yes but Mostly No.

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