Story : USA-Wall Street Stress
File ID : 306062
Video ID : 7574308
Date : Recent
Published : July 15, 2015
Duration : 1'37
Location(s) : New York City, USA
Type : English/Nats/Part Mute
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
Pageview : 338
Summary : Young bankers on Wall Street battle high stress
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Shotlist

New York, USA - Recent
1. Wall Street road sign
2. Wall Street sign on wall
3. Various of financial service profesionals outside of New York Stock Exchange (NYSE)
4. SOUNDBITE (English) Alexandra Michel, professor, University of Pennsylvania:
"Banks are social cocoons. You work 100 hours a week and they cut you off from all of your private life, from your friends who could support you, from your family."
++MUTE++
5. Online news report on banker who committed suicide
6. Graphics showing U.S. Centers for Disease Control and Prevention's finding that people who work in financial services are one-and-a-half times more likely to commit suicide than national average

7. Various of NYSE
8. Man walking past electronic screen showing stock information
9. SOUNDBITE (English) Alexandra Michel, professor, University of Pennsylvania (starting with shot 8):
"And now with the financial crisis, the world's opinion has changed. Now you're reviled."
10. Psychologist Alden Cass walking in corridor
++MUTE++
11. Cass's books on on surviving career on Wall Street

12. Various of Cass at work
13. SOUNDBITE (English) Alden Cass, psychologist:
"They're burning the candle at both ends and there's really not a lot of insight into what's going on emotionally and the limits to what their endurance can handle, emotionally and physically. And once that candle burns out, that's when the physical symptoms start to occur."
14. Cass at work

Storyline

Investment bankers on Wall Street are among the most highly-paid workers, but they are also among the most stressed.

Factors which add to their stress level range from long working hours and unpredictable schedules to demanding clients and an isolating culture.

"Banks are social cocoons. You work 100 hours a week and they cut you off from all of your private life, from your friends who could support you, from your family," said Professor Alexandra Michel with University of Pennsylvania, who is an expert in leadership development.

For some, the stresses can be too much to handle. Over the past year, there has been a rash of unexpected deaths or suicides among young bankers.

A report by the U.S. Centers for Disease Control and Prevention finds people who work in financial services are one-and-a-half times more likely to commit suicide than the national average.

Experts say part of the problem is that high-achieving bankers tend to be particularly sensitive to the opinion of others.

"And now with the financial crisis, the world's opinion has changed. Now you're reviled," said Michel.

Alden Cass, a psychologist who has written a book on surviving a career on Wall Street, said the most vulnerable are young bankers, who have not developed proper coping skills to handle the stress and often use alcohol as an escape.

"They're burning the candle at both ends and there's really not a lot of insight into what's going on emotionally and the limits to what their endurance can handle, emotionally and physically. And once that candle burns out, that's when the physical symptoms start to occur," he said.

Those symptoms, according to Cass, can lead to full blown depression.

The recent tragedies have caused some banks to reconsider their work policies. Some have made Saturdays work-free days and others are requiring workers take a set amount of days off per month.

Experts say it is a step in the right direction, but a lot more needs to be done to help the most vulnerable young bankers keep things in perspective.

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