Banking is famous for a few things - pay, prestige and hard work. Jobs in the industry can expert a heavy toll. The 1,000 responses to our recent lifestyle survey indicate how heavy that can be.
Bankers, generally speaking, are not sleeping well. Across all respondents to our survey, people working in finance got an average of 6.72 hours of sleep a night. That’s not enough - Dr. Eric J. Olson, writing for Mayo Clinic, said that adults getting less than seven hours of sleep a night is “linked with poor health, including weight gain, having a body mass index of 30 or higher, diabetes, high blood pressure, heart disease, stroke, and depression.”
This applies globally. Canadian and European bankers slept slightly more than, for example, Singaporean bankers. However, none of the major jurisdictions we analyzed saw bankers sleeping more than seven hours on average. Breaking down by bank yielded similar results – except at JPMorgan. JPMorgan’s bankers told us they slept a whopping 7.2 hours a night, on average, more than those at any of their major rivals.
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Unsurprisingly, all the financial services professionals who responded to our survey wished they slept more. Whilst most wanted to sleep around eight hours, it was Deutsche Bank’s people (who slept the least, on average, from banks we polled) who said they’d be happy with the least sleep. They were the only respondents, aside from JPMorgan’s (the best-rested) who wanted, or were content with, less than eight hours a night.
UBS’ bankers, however, were by far the most demanding with their sleep desires, wanting to sleep an average of nearly nine hours. This made them particularly dissatisfied with the six and half hours’ sleep they typically enjoyed on an average night.
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FAQs
JPMorgan's bankers told us they slept a whopping 7.2 hours a night, on average, more than those at any of their major rivals. Get Morning Coffee ☕ in your inbox. Sign up here. Unsurprisingly, all the financial services professionals who responded to our survey wished they slept more.
What was bad about John Pierpont Morgan? ›
When things were bad, Morgan was accused of suppressing the economy. When things were good, Morgan was thought to be lining his pockets. Morgan's personal power came at a high public price.
How many hours do investment bankers sleep? ›
While working in Investment Banking, the average bedtime on weekdays for me was 1:29 AM, with an average sleep duration of 5 hours and 56 minutes. On weekends, the average bedtime was 12:02 AM, with an average sleep duration of 8 hours and 29 minutes. However, behind these figures are large fluctuations day by day.
What are some interesting facts about JP Morgan? ›
J.P. Morgan was known for reorganizing businesses to make them more profitable and stable and gaining control of them. He reorganized several major railroads and became a powerful railroad magnate. He also financed industrial consolidations that formed General Electric, U.S. Steel, and International Harvester.
What did JP Morgan believe in? ›
He believed that the combination of rival interests into rational systems was necessary to stabilize the U.S. economy and to prevent harmful price wars. During a financial panic in 1907, which threatened to trigger a run on the nation's banks, Morgan took charge.
What was J.P. Morgan's greatest weakness? ›
Weaknesses
- Regulatory and Legal Issues: Like many large banks, J.P. Morgan has faced numerous legal and regulatory challenges. ...
- Size and Complexity: J.P. Morgan's vast global operations come with inherent risks related to the complexity of managing such an extended enterprise.
John Pierpont Morgan (April 17, 1837 – March 31, 1913) was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age and Progressive Era.
What is the Goldman Sachs 15 minute rule? ›
It means you have to respond to an email in 15 minutes or less no matter what.
What time do investment bankers wake up? ›
Investment Bankers who average 80-hour work days will likely get around 7 hours of sleep per night assuming that they go to bed at around 2 AM and wake up around 9 AM.
Why do bankers work so many hours? ›
Investment banking hours are much longer than those in other jobs because of four main reasons: Huge Clients Pay Your Bank Huge Fees: When a company is paying your bank $50 million, $10 million, or even $1 million to advise on a deal, you have to do whatever it wants at any time of the day.
One of the most powerful bankers of his era, J.P. (John Pierpont) Morgan (1837-1913) financed railroads and helped organize U.S. Steel, General Electric and other major corporations.
How did J.P. Morgan make most of his money? ›
After the 1893 financial panic, he helped the railroad industry recover. He merged railroad companies and became a stockholder in every one of them. He made a fortune in railroads. In 1898, Morgan formed the Federal Steel Company.
How much money is J.P. Morgan worth? ›
JPMorgan Chase net worth as of April 19, 2024 is $533.63B. JPMorgan Chase & Co. is one of the largest financial service firms in the world.
What religion is J.P. Morgan? ›
Wall Street banker J. P. Morgan was a devoted Episcopalian. He was an officer of his local church. He served on a national committee charged with revising the Book of Common Prayer (much of which he knew by heart).
Who owns JPMorgan Chase? ›
What is J.P. Morgan culture? ›
Our Culture. We believe that diversity among our employees enables us to be the world-class company we are today. We strive to foster a culture of respect, and are committed to making our workforce, workplace and marketplace diverse, inclusive and accessible for all our employees.
What was J.P. Morgan's ruthless business tactic? ›
Morganization refers to the strategy employed by J.P. Morgan in the 19th century to create industrial monopolies. He identified weak or small players in a particular sector, such as railroads or steelmaking, and effected a series of mergers, ultimately crafting powerful monopolies.
Who was J.P. Morgan and how did he become so wealthy? ›
He made a fortune in railroads. In 1898, Morgan formed the Federal Steel Company. Again he merged with other steel companies, forming the huge United States Steel Corporation. He made another fortune in steel.
Who was Mr Morgan in the Gilded Age? ›
The Morgan family was one of the wealthiest and most elite of the Gilded Age. John Pierpont (J.P.) Morgan (1837–1913) was born in Hartford, Connecticut, and moved with his family when he was fourteen to Boston and then London.
For whom did Morgan work before co founding his own banking firms? ›
He worked at his father's bank, Peabody, Morgan & Co., and later the firms of Duncan, Sherman & Company and Dabney, Morgan, and Company. Later he helped to form the firm Drexel, Morgan & Company which was renamed J. P. Morgan & Company after the death of Anthony Drexel.
