BOA Merrill Lynch

To Die For Your Company?

No One Will Openly Ask…

No one will openly ask if you are prepared to die for your company. I am replacing my other happier post with this solemn but timely post about the unnecessary waste of a young life in the unforgiving environment of a financial institution, one amongst many who had to be baled out only recently. Remember these investment banks which were responsible for tipping the world into recession in 2008? A 21-year old German intern Moritz Erhardt died was found dead on 15 August after working until 6am for three consecutive days.  He was into his final days of completing a gruelling 7-week internship at the Bank of America Merrill Lynch International investment bank division.

Pressure To Conform…

Despite the closed culture of the investment banking industry and the widely-known competitive environment and long-working hours, there is no shortage of youths in Gen Y who are seeking high-paying jobs there. The pressure to conform and the desire to succeed might also have prompted bosses to continue “milking” these young interns. Adapting to each company’s culture they, the HR people would say. What I suspect, and learnt from insiders, is that bosses over-promise their clients as well as over-bending backwards to please them. So who has to do the work and meet deadlines? Yes, you’ve guessed it.

Calls For A Shake-up…

One good that can come about from this tragedy is the rising call for improvements and perhaps a shake-up within this closed industry. Talented youths should not have to undergo such tortured demonstrations of their worth and loyalty just to make a living.

Related Posts:

1. Youth Unemployment And Apprenticeship

2. Merrill Lynch reviews office culture over intern’s death

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