Over the past couple of months, news of bankers committing suicide has been making the headlines left and right. In just a week, three bankers allegedly killed themselves for reasons still unknown.
This left people baffled. Why would these people, coming from the same industry, take their lives now? What is it with being a Wall Street banker that makes them want to end their lives?
A Little Background
In order to fully understand the situation, it would be best to have a profile of these bankers. Who are they?
The Wall Street is basically the financial markets of the United States. Needless to say, it is one of the toughest and most vicious industries in the world. To be part of it, one must be highly competitive and profit driven. Naturally, you would expect that the Wall Street bankers (those who have made a career in this business) have an alpha personality. They are strong, intelligent individuals who are financially stable. They are perfectionists, aggressive and with great leadership potential.
Considering the positions that the bankers who committed suicide held, it is safe to assume that they are good at their jobs. In such a competitive industry, reaching such high positions in well- respected companies can only be a product of hard work and long hours.
So the question is, why throw all of the hard work away? Why did they choose to end their lives?
We have to consider that this is a high stakes job. There is a lot of pressure that comes with it. In order to make it in the business, one must take on the responsibility to make more profit. Profit has to be above all. Otherwise, you can get booted anytime.
Just as extreme pressure turns carbon into diamonds, the pressure in the said business expects to hasten people’s achievements. However, the stress to keep the job, to rake in money and to excel in the field can be too much. Considering the fact that most of these bankers have alpha personalities, the pressure is always great. This can break people. When people can no longer cope with the stresses of the job, they could end up giving up. Thus, the bankers commit suicide.
The Proposed Solution
Because of the recent events, banks have recently encouraged their employees to take some time off. They believe that the stress from work have pushed those bankers over the edge. To prevent any more casualties, they are pushing the bankers to take weekends off for recreation and rest.
However, many see this as a temporary solution to the problem at hand. The bankers are well aware that taking less hours of work would mean raking in less profit. That could put their job in jeopardy.
Therefore, it is less likely that bankers would opt to take time off when there is so much at stake.
Because the suicides happened so close to each other, it is difficult to chalk it up to coincidence. It is hard to believe that a number of people, in the same business and holding good positions in highly respected companies, would commit suicide almost at the same time. The timing is very unlikely. This raised a few speculations.
There are others who believe that these “suicide” events are not really suicides.
They believe that these bankers were gotten rid of due to some information they are privy to. Others believe that these bankers took their own lives because they knew something was about to happen and they didn’t want to be around when it happens.
Whichever may be true about the reason behind these deaths, the fact still remains that it is an alarming issue that must be dealt with right away.