Junior Bankers Need to Work 12 Hour Days, J.P. Morgan's Erdoes Says
Junior Bankers Need to Work 12 Hour Days, J.P. Morgan's Erdoes Says
Mary Callahan Erdoes, J.P. Morgan Asset & Wealth Management CEO, says new bankers need to work 12-hour days, six days a week, to master their jobs. She’s on the latest episode of “Bloomberg Wealth with David Rubenstein.” The interview was recorded on June 7.
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Hang on a moment….the time it takes to train people to become wealth managers shouldn't be overly relevant if you keep hold of them and they stay working for the company. I'm not in finance in any way…so could be wrong, but this sounds like an admission they overwork new people till many break and thus have a huge turnover rate. As a company they can't be expanding THAT much annually……
I started into banking at 18 years old as an associate, then at 19 as an advisor at 20 as an analyst, got a Bch in Economics, Master in Applied Finance, Went back to Banking. Became an senior analyst then a trader then a PM. How much Friends I have: 0 How much Family I have : 2 brothers How much money : Millions. Sacrificed, my youth, my health, my soul and a lot more. Satisfaction level 100000/100 but not everyone is like me. So if you are young understand the sacrifices you will have to make. Not every money is good money.
Just invest on the Indian market (BSE Sensex). As an American, this was the best decision ever – made 23 percent average returns over the last decade. The market has returned 15.44 percent average in the last 3 decades. F**k S and P 500, also my returns are tax-free and I hedge the currency for a small fee.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Typical wealth manager – Talks a lot of bullshit without answering the question. If she really worked 12 hours a day she wouldn't label herself a so-called wealth manager that offers sub-par returns; with returns being lower than what Chad makes by investing his money in a S&P 500 and that too from his mother's basement without a college degree.
She is full of bs
Training criminals on how to tax evade
She seems to be an evil witch
12 hours, you taking half day vacation? 16 years in IB
Corporate puppet
Why taxpayer bailouts then
I wonder what it is like to work for The Rothschilds…..
Hmmm. Strange how no bankers are in prision. LOL.
Wow. So oblivious.
Dont know how many more studies need to prove you are more efficient with more rest for these boomers to understand. Need to just vote these guys out of positions of power already.
She’s the problem with the world people just like her who have created nothing provide nothing employees no one, helps no one, completely meaningless, and meaningless job titles that do nothing. These are the worst type of people.
One thing I’ve learned is these people are not smarter than you but they are corrupt, manipulative, deceitful with no moral code except making money in anyway possible. Nepotism always keeps these same families in power. U can just see the pompist attitude of this lady. Unfortunately our government has been taken over by these people.
All these training and they can’t beat S&P 500
Go get a real job! Add some value to the world.
lol
i worked from 6:30am to 9:30pm when i was a junior bond trader at goldman sachs london in 1993. it sucked, but at least it was only 5 days a week
I work in the film imdustry, and twelve hour days are the norm… however, since its a bunch of departments all fulfilling different roles on Set, the work is a lot like Americam football, where if the offense is on the field, the defense is resting and studying. Intense bursrs of activity, followed by moments of "rest/preparation."
If I was working 12 hours non stop, it would be humanly impossible. Now, maybe investment banking is physically easier, so 12 hours of continuous work is possible, but I doubt it. Look at how taxing playing chess can be.
10 hours should be the limit, and certanly not the norm, if you want good output from your workers.
She has the mentality of a slave driver.
This woman is a slave driver
She’s a good talker. Was one of the main people though who helped enable Epstein to keep doing business with JPMorgan for many years. Google it.
This material serves as a key to new thinking. A book I read with akin topics was crucial in shaping my views. "A Life Unplugged: Reclaiming Reality in a Digital Age" by Theodore Blaze
Considering 10,000 hours isn’t a scientifically sound theory, nor did the original study apply to knowledge-based professions, this is an entirely dumb take.
Listening to this women is like listening to paint dry.
❤🎉 NO WAY
they need to sleep
She’s delusional . It’s sickening
This is the reason why i prefer shift based , non target based jobs .
Example IT admin be it database , network , storage , infrastructure etc . In other feilds it could be any worker doing jobs in shifts but no definite target , just routine daily job .
Anything that gets a target attached to it would mean 60 , 70 , 80 plus or sometimes 100 plus hour week job , with even weekend work involved . In a few years u will get bur n ed out completely .
Time to buy up Identitii shares on the ASX..
Payday is coming
Good luck to all holders.. Identitii has filed a patent infringment claim on JPM. Big News!!!
Don't know how I ended up watching this video because I'm not interested in a damn thing she's saying. I'm sitting here listening to her blathering on and just thinking about all the ways she's derived great enjoyment being sexually degraded by men over the years. It's like a movie playing in my mind.
Investment banker here and let me tell you nothing in this life is worth spending 14-15 hours a day at the detriment of your health and happiness. Yes I do know people that are extremely hard working and gain knowledge and experience from this, but a lot of them don’t know how to work smart and are also some of the most obnoxious bullies I’ve ever come across. Banks won’t ever get the culture piece right because generating fees is above and beyond all other priorities. And there’s not enough hours in the day for banks to truly get to the bottom of ensuring there is a fair and inclusive culture across the business. I have worked in D&I steering groups and this is my own experience!
This explains why they're so incompetent.
She looks evil
She hires slaves.
There is more to life than money Mary. Sorry. Good luck with that. Pathetic.
Astonishing how unlettered these American executives are. Vocabulary and oral skills of a 16 year old