Do you ever think to yourself, "Gee, I should have gone into finance"? Well allow me to cure you of that regret right now ...
😱 OFFICE HELL
A workplace survey from a group of junior analysts at Goldman Sachs is about to make you feel a lot better about your job.
These first-year, bottom-of-the-food-chain bankers say they are working more than 95 hours a week on average — on average! On top of that, they’re sleeping just five hours a night and enduring workplace abuse. Most of them say their mental health has deteriorated significantly since they started working at the investment bank.
"There was a point where I was not eating, showering or doing anything else other than working from morning until after midnight," one analyst says in the report.
YIKES.
The bank says it's listening to its employees' concerns and working on solutions.
HOW BAD CAN IT BE? Few people entering the cutthroat world of Wall Street banking would expect a tidy Monday-to-Friday nine-to-five. But the analysts in this survey are essentially pleading with their employer to cap their weekly work hours at 80.
Yeah but they’re getting rich, right? Not really. At least not yet. Although banks are known for sky-high salaries and even loftier bonuses, that's not always the case for first-years. Goldman wouldn’t comment on compensation, but entry-level analysts at big firms are estimated to start at $91,000 (not including bonuses). Nice, but if you break that down to an hourly rate at 95 hours a week, it’s ... a lot less nice.
BIG PICTURE The complaints in the survey are at odds with the more easygoing image Wall Street banks have sought to put forward in recent years. Faced with increased competition for talent from the jeans-and-hoodie crowd of Silicon Valley, banks have loosened their formal suit-and-tie dress codes and expanded family leave policies.
Goldman has also sought to protect junior bankers' weekends with a "Saturday rule" that mandates analysts be out of the office from 9 pm Friday to 9 am Sunday, except in rare circumstances. (That rule, according to the analysts in the survey, isn't always respected.)
QUOTE OF THE DAY I am telling my employees to go home after six. Don't stay out. We came to this country for our freedom. But maybe it's not even better than China now. —A nail salon owner in New York who asked to remain anonymous
Many business owners are living in fear because of a surge in racist attacks against Asian-Americans over the past year. “My husband told me that no matter how long I will live in the United States, I will never be seen as an American because of my Asian face," the nail salon owner said. My colleague Parija Kavilanz has more.
🚨 PUT THE VACCINE CARD DOWN
Seriously, stop sharing your vaccine cards on social media.
Take it from CNN tech writer Samantha Murphy Kelly, who called out one of her editors on Instagram for posting a celebratory picture of his vaccine card. "Didn't you read our story about not posting your record? Scammers are watching!"
He argued — and you shouldn't argue with Samantha — that scammers would be hard-pressed to dupe him based on anything listed on the card.
Here’s why he was wrong: In addition to your birthday, the card may show medically sensitive information like your vaccine lot number, clinic location and the brand of vaccination received. Sometimes more.
By all means, get vaccinated and selfie it up. Go wild. But leave the card out it.
"Think of it this way — identity theft works like a puzzle, made up of pieces of personal information. You don't want to give identity thieves the pieces they need to finish the picture," the Federal Trade Commission said in a blog post last month.
So far, there doesn’t seem to be an imminent threat. But, as always, scammers will find a way.
💰 NUMBER OF THE DAY
$6.6 billion Kanye West officially became a billionaire last year. Now, he's a billionaire six times over. The 43-year-old rapper has a net worth of $6.6 billion, according to Bloomberg. That’s largely from his apparel business, including his Yeezy sneaker partnership with Adidas and his clothing line with the Gap.
WHAT ELSE IS GOING ON? ⚠️Peloton is warning owners to keep their children away from their treadmills after an accident involving its Tread+ in which a child died.
🚫Teen Vogue's new editor is resigning after staff members and readers condemned racist and homophobic tweets that she published a decade ago.
📈Energy and tech stocks led a selloff on Wall Street as the 10-year Treasury bond yield climbed to a 13-month high.
🏢Google is doubling down on office space despite the rise in remote work.
Was this email forwarded to you? Sign up to subscribe. All CNN Newsletters | Manage Profile 1 Cnn Center NW Atlanta, GA 30303 |