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 recognise 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 hoof it over to Network Rail?