Bradley Russell 2017-01-24 13:00:00
If you work in any sector of financial services, you probably spend a god chunk of your day dealing with stress. Everything from your working hours, the external pressures, and the responsibilities involved with your career choice can all contribute to your stress levels. But who has the most (and least)? Read on to find out the top 10 most stressful jobs in finance as well as the least stressful.
The main reason that investment bankers are voted as having the most stressful job on Wall Street and in all of financial services overall comes down to the difficulty of the work as well as the amount of work required.
Traders have slightly less crazy hours compared to investment bankers, but they have a more acute level of stress. It happens in real time and can pretty instantaneous. There’s a lot out of their control: sometimes the market works in their favour and sometimes it doesn’t, and there is nothing they can do about it.
These finance workers are seen as the enemy from colleagues who want to get a transaction approved. These roles are particularly stressful because you’re there to escalate issues.
This is a sales job and you often have to target friends and family. You start off with a ridiculously low wage and you need to sell to keep your job. Wealth managers get fired almost as often as they are hired.
Any role that requires you to sell has stress. Job security and the ceiling on salary just aren’t what they used to be, either. As banks switch over to more automated functions, the pressure on salespeople will probably increase. They will need to interact with the most important (and demanding) clients.
Travel is the main cause of stress in management consulting. A lot of people in this field work 15 hour days and sleep fewer than six hours a night. To learn more about management consultant jobs, you may visit Indeed.com to see what the typical job description looks like.
These are some of the most desirable jobs but are also the most difficult to get into. There is less day-to-day pressure except when a new investment is being made.
Researchers now have a more marketing-oriented role compared to in the past, and they need to work harder than before.
If you’re right in your investments, the buy-side is the easiest place to work. If you’re wrong, the buy-side is just as stressful as the sell-side. Still, this job is better than working at an investment bank.
Tech pros get yelled at, which means some level of stress, and they constantly have to take courses to stay on top of their game.
Accounting is pretty much stress-free aside from the long hours on a seasonal basis. If you like routine and don’t mind working long hours during tax time, you’re golden. Those in product control can be more stressful due to the contact with traders required, and the least stressful accounting jobs are in banks that involve forecasting and budgeting. These are less stressful because they aren’t subject to external review pressures and are more qualitative. If you want to learn more about accounting jobs, The Mason Group has compiled a list of useful resources on their website.