GUEST COMMENT: Bankers are suffering from rage and defensiveness
I'm a psychological therapist, and count numerous investment bankers among my clients. People come to me on a private basis. They choose to do so because they know that in that way there's no chance of anyone at work finding out that they're seeking help and are in trouble, or distressed. There is no use of company facilities and no involvement of their employer.
Since the financial crisis began, the number of bankers on my books has increased notably. Much of the growth is attributable to increased uncertainty and anxiety about the job market. But as time goes on, I'm also encountering a new set of symptoms: rage and defensiveness.
Many of my clients feel they went into a perfectly legitimate job, usually having done very well at university. They often fought very hard to make it from the graduate training programme into the position they're in today. Yes, they made a lot of money in the process, but they also paid a lot of money to the Treasury, and that money filtered through to the rest of society.
As a result, the odium now being heaped on bankers has come as a shock to many. They feel unfairly slighted. They have thin skins and exhibit a kind of professional rage when discussing the crisis. There is a kind of extreme defensiveness. Many will highlight the role played by governments, which encouraged their electorates to live beyond their means, and are now heaping opprobrium on the bankers as a convenient whipping boy.
None of this is healthy. Living in a state of defensive rage is tantamount to living with extreme stress. Nor is it pleasant to work in an industry which is widely vilified and whose practitioners are public enemy number one.
The outcome is that some of my clients are appraising their choice of career very hard. Widespread public dislike is casting a light onto some of the genuinely unfavourable aspects of the industry, including long hours and overwhelming emphasis on P&L. For some, sticking around for the next bonus is no longer worth it. For others, staying on staying on and trying to salvage their public image is the only option, despite the possible repercussions for their mental health.
Philip Hodson is a writer and broadcaster. You can find out more about him here.
