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Feeling Miserable in Financial Markets?

http://hereisthecity.com sought the views of more than 2,000 financial markets professionals over a 7 week period to find out just how miserable they felt in their current job.

 And 79.4% of staff working in compliance said that they were either ‘fairly miserable’, or ‘very miserable’.

One compliance staffer told us: ‘This is no surprise. In the light of the UBS rogue trading scandal, Standard Chartered and HSBC’s money laundering issues, and the LIBOR fixing probes, the pressure is on us like never before.

‘We have to be on top of our game, but we still have to deal with traders and other staff who just see us as an inconvenience, and a waste of space. We’re between the proverbial rock and a hard place’.

In second slot is Human Resources. 64.9% said that they were ‘fairly’ or ‘very miserable’ in their jobs, followed by operations staff on 56.3%.

Here’s the ‘most miserable’ top 10

1. Compliance – 79.4% said that they were ‘fairly’ or ‘very’ miserable

2. Human Resources – 64.9%

3. Operations – 56.3%

4. Media Relations / Brand / Marketing – 48.3%

5. Sales – 43.8%

6. M&A -  41.5%

7. Risk Management – 37.4%

8. Trading  - 34.2%

9. Internal audit – 31.3%

10. IT – 23.1%

Overall, 54.1% of investment banking employees described themselves as ‘fairly’ or ‘very’ miserable, followed by 43.5% who work in asset management, 35.3% in private banking, 21.7% in private equity and just 16.1% who work in hedge funds.

Geographically, 52.5% of employees based in Europe said that they felt ‘fairly’ or ‘very’ miserable in their jobs, followed by 47.3% based in Asia-Pac and just 31.9% based in the Americas.

And the happiest staff in the financial markets – secretarial / PA support – just 17.3% said that they felt either ‘fairly’ or ‘very’ miserable in their jobs.

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