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THE MEAT GRINDER PHASE OF DREAM WALL STREET JOBS: A NECESSARY EVIL?


The pandemic has brought about circumstances which have been an aberration to the Wall Street businesses. These businesses run on an innovative, collaborative and apprenticeship model for which the current scenario is not ideal. All this has created strenuous conditions for the employees who have to face mental health issues, work in isolation, operate without direct supervision and most importantly, work for inhumane levels of hours, giving up their personal lives. The notorious world of Investment Banking along with the pandemic has blurred the differentiating lines between the employees’ home and office as they have to work for an average of remote 100+ hours a week with their phones ringing at any odd hour.


This led to a dustup wherein 13 employees at Goldman Sachs reached out their management, mocking up a presentation to express their concern over the long working hours and the inhuman working conditions. In wake of this issue, the Chief Executive David Solomon, enforced the ‘Saturday’s Rule’ fencing the employees from work from Friday evenings till Sunday mornings. Eventually, the dream Wall Street jobs might bring along incredible wealth, high social status and amazing amenities but at the same time, grind their employees who have to work day-night to fulfil the strident requirements of their jobs.


BY:

Archit Agrawal


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