Saturday, May 28, 2016

What are the disadvantages of working on Wall Street?

Though the financial rewards can be astronomical, working on Wall St has more than its fair share of disadvantages. For one thing, most jobs in the world's financial center are highly pressurized, which is not surprising given the vast sums of money involved. Wall Street may seem like a very glamorous place to work, but in actual fact just about everyone who works there has to put in incredibly long hours—placing an enormous strain on their personal health and on their family life.
For women working on Wall Street it's even tougher. The finance sector has always been notorious for having a macho working culture in which women are routinely marginalized, underpaid, or subjected to all kinds of sexual harassment. Despite some progress in recent years, Wall Street companies remain inadequate with regards to providing their female employees with an appropriate work-life balance.
For instance, taking time off work to have children is often frowned upon in this sector, with many women feeling that they are treated unfairly if they express a desire to raise a family. Even when women have been given paid maternity leave, they've often found, upon returning to work, that they've been demoted in their absence.
Wall Street also has a pretty lamentable record when it comes to dealing with racism. People of color are massively under-represented, and the relative few who do manage to find work on Wall Street often find themselves subjected to blatant racial discrimination and harassment, not to mention encountering similar problems to those of their female colleagues, such as the lack of opportunities for promotion.
https://www.newyorker.com/news/news-desk/women-say-rigged-system-allows-wall-street-to-hide-sexual-harassment-problem

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