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Jobs and Career Management in the Financial Markets, Banking & Finance |
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TOP STORIESWorking hours – do China’s bankers have the right idea?14 March 2008COMMENTSMoney is important in todays world so earn as much as possible as quick as possible to give yourself and your family the best you can in life. Read all comments »Forget slogging your guts out for an investment bank, you’re much better off working for the public sector. This, at least, seems to be the conclusion reached by a senior banker in China.
Wilson Feng, former chairman of China investment banking for Merrill Lynch, told Bloomberg last week that he was quitting banking to work in a state-owned enterprise because he wanted to change his life.
“It's a nightmare,” Feng reportedly said. “My father won't recognize me if I stay in investment banking. I didn't see him for almost three years.''
He added that during the four years he worked in banking, he spent 70% of his time executing deals and never slept for longer than five hours a night.
Although salaries at state-owned enterprises are low by comparison with banking, Feng pointed out that you can at least have a (better) life.
Time to work for the state? Leave your comments below....
COMMENTSAnonymous, Accounting, Wed 19 Mar 08I say good luck to him but I think I would choose to strike a balance between work and family. Money is important in todays world so earn as much as possible as quick as possible to give yourself and your family the best you can in life. However, the way the markets are going it looks like employment could be short lived for alot of us unless your in the commodities sector or spread betting! Add your comment »Anonymous, Accounting, Wed 19 Mar 08you guys need to know that a CEO of Chinese state-owned eterprise can earn millions of "underground money" (with low presure and much less working hours) Add your comment »Fancy Pants, Accounting, Wed 19 Mar 08Show me a public sector employee and I'll show you someone who's banking their entire life on an index linked pension and the thrill of retiring at 55. Far better to make your money now, far away from the state, and live large in the process. Add your comment » |
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