Anna Sebastian, a 26-yr-old chartered accountant, died of cardiac failure, which her parents blame on an unrelenting, always-on culture of work of the consulting firm, which allegedly forced the youngster to work through nights and some weekends too. Sebastian's manager allegedly ignored her pleas saying it was perfectly normal to pull in overnighters. Four months after joining the consulting firm, the youngster succumbed to a cardiac arrest.
Last May, a former army soldier-turned-banker at Bank of America, who had been complaining about the punishing hours, died of a blood clot. He had been looking to move. Chances are, he would have walked into yet another 100-day work week, because of Wall Street's poor record on work-life balance.
Since then, several banks, ranging from JPMorgan to Goldman Sachs and Bank of America, have tried to reset by implementing policies that should allow junior staff to get at least half a weekend off and reduce work hours past midnight. In theory, at least.
Trouble is, the culture of working brutal hours to unrealistic deadlines is deeply celebrated and entrenched in many firms. Rulebooks don't go far enough. There will always be managers who feel they survived the wringer and, therefore, so should others.
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