Have you worked in the financial services area? Then you most likely experienced spending stressful days and nights. The working hours are terrible, the responsibilities are quite heavy, and the pressure can be overwhelming. But who’s had worse? Here is a list of five of the most stressful jobs in the banking and finance industry, beginning from the most to the least job description.
- Mergers And Acquisitions Marketing Professional
The job of the investment banker or the marketing professional is at the top of the list on Wall Street and the whole financial sector in general. This is because investment bankers have to face stress triggers regularly. One is the difficulty of their job and second is the amount of work they do every day of their lives. In their world, they fight to survive and thrive as there are a lot of them climbing to the top at the same time. It’s not uncommon for them to not be able to eat and do their exercises because of how crushed they are at the end of the day.
- Risk Management And Compliance Professionals
The banking sector is full of scams and scandals these days, and pacifying headlines like this is one of the more stress-triggering tasks that risk management and compliance professionals are burdened with. What’s more, their enemies are not only press but their colleagues as well – especially those who are looking to land an official transaction desperately. Most professionals working in this department say that compliance is not a very likable job at all. It’s not empowering to collect money but lose your principles in doing so.
- Bank Traders
Luckily, traders don’t work as many hours as the compliance or the acquisitions professionals. However, they experience a more sudden and acute type of stress. According to trading coaches, there’s so much in the daily tasks that they don’t have full control of, which is quite difficult for them to manage. You sit in your position, and you wait and cross your fingers hoping that the market will favor you, but sometimes it doesn’t, and in the end, other people will doubt if trading with you is the right decision.
- Financial Advisors Or Asset Managers
Asset managers are among the most sought-after professionals in the banking and finance industry, yet they are also the easiest to fire. If their clients don’t get what they want, then they’re terminated from their job just like that. One asset manager said that within his five years of employment, he lost 30 colleagues who decided just to leave the job without second thoughts. It’s a sales industry, and the first clients are usually family and friends, which make the pressure even greater. Your salary is barely on the minimum, and you work your ass off to remain on your position. Now, that’s quite stressful.
- Management Consulting Professionals
Is being a management consultant stressful? Most consultants say yes, it is, if you’re working in a company like BCG and you don’t have the opportunity to travel because you live close to home (this means it is quite stressful!) Management consultants usually travel on overnight or even weekly trips, even monthly sometimes. Consultants who were interviewed said that often they travel very far from their homes but try their best to visit their families on the weekends.
A research done on the working situations of top consulting firms a few years back found that managing consultants who were successful – meaning that they worked 15 hours a day and slept less than 5 hours a night – that success was possible only if they sacrificed much of one’s time to do more work. Fortunately, consultants now have better ways of managing their stressors.