Chalk up another casualty of the Great Recession. Investment bankers -- those perceived titans of the financial industry -- face greater risks of burnout, mental-health problems and other stress-related hazards, new research shows.
The nine-year University of Southern California study found greater rates of alcoholism, temper-management problems, insomnia, heart palpitations and eating disorders in about two dozen investment bankers tracked.
The research, to be published in the journal Administrative Science Quarterly, concluded the bankers’ challenging work environments drove a pattern of “habitual overwork that bankers experienced as self-chosen” that led to a variety of stress-related health problems.
“Surprisingly, the banks benefited … because the bankers’ ethics, judgment, and creativity increased,” despite the negative impact on bankers’ health, researchers concluded.
The USC study was conducted at two Wall Street banks that agreed to participate as long as they remained anonymous.