June 23, 2018

Are Banking Jobs Worth Dying For?

Bank Of America Employee Found Dead

Entrance into the competitive financial job market is sometimes accomplished through internships. Recently Moritz Erhardt, an intern for Bank of America in their City of London offices was found dead in his apartment.

Erhardt was employed in the firm’s investment-bank division, in a 7 week internship contract. Erhardt’s salary during this time was forty-two hundred dollars a month.

Friends of Erhnardt’s reported that he been forced to work through the night eight times in a two week period in an effort to secure long term work with the firm. It seems that Erhardt was personally driven to be the best in many areas of his life, a habit that started in elementary school. He was always in over-drive to perform well.

He had recently worked through several nights and had not slept for 72 hours. The intern had an epileptic condition which also added to the tragedy.

So there are several motivating factors that push people to work beyond their limits. A strong desire to accomplish something for themselves or for their companies can push people past their reasonable points. Another desire is to advance their careers to assure high salaries in the finance industry.

What ever the reasons people have for over working, it is the employers who need to be aware of how intensely their employees are driven and try to put limits in place to help them stay reasonable. One might wonder if a workplace culture that acknowledged workers’ needs as much as employers’ bottom lines might have helped prevent the tragedy of Erhardt’s death.

Bank of America is looking into the causes of his death as well as looking at what they can do to change employee working conditions. Nothing is as important as assuring good working conditions and reasonable work expectations in the corporate world. This tragedy is heart breaking for many and can serve as a stepping stone to change policies to prevent this from happening again.

We want to offer condolences to the family in this sad time of loss.

Preventing Tragedies Like This

Be sure to take care of yourself if you know you are putting in too many hours. Keep life activities in balance by saving time for enjoying life with family and friends. Get required sleep and eat a healthy diet. Without those basics, life can get scarey and have bad outcomes.

Upset Business man Sitting on Briefcase

Behind The Scenes At BankRate.com

If you have ever wanted to know things like rates on mortgage loans or car loans you may have found the answers to your questions at www.bankrate.com. The website provides current rates on many financial products and has a goal of helping you make informed financial decisions when it comes to buying a house, a car or signing up for a credit card. It has been online since 1996 and has become one of the most trusted sources of personal financial information on the Internet today.

When you read about the history of this company and the mound of information it aggregates, you can’t help but be impressed.

In 1976, a company called Bank Rate Monitor produced a printed newsletter that provided bank rates for consumers in the United States. It became a recognized brand among those interested in personal finance. Twenty years later the company took it’s services online at www.BankRate.com. By 2009, Apax, a UK private equity and venture capitalist firm bought the company for $571 million dollars. Now it is attracts over 15 million unique visitors per month.

Amazingly, the site as it stands now, gets loan rates and bank data from all 50 states. Data is pulled from 4,800 banking institutions. Their primary focus is to provide consumers with information to help them with purchases of homes, automobiles, loans, CD’s, Money Market accounts and an additional 300 financial products.

Their databases of information includes 172,000 individual rate tables, 30,000 stories with 155+ new articles coming out each week. They run 13 blogs which are updated 2 – 3 times per week. They conduct 9 exclusive research studies per year and offer 14 opt-in email newsletters.

Their readers are educated, financially savvy and self-directed. The average FICO score for visitors is 775+. So if you visit this site on a regular basis, consider yourself in good company.

Bankrate.com is often quoted in high quality financial news organizations like The Wall Street Journal, USA Today, NBC News, The New York Times, The Los Angeles Times and The Boston Globe.

Their social presence on Facebook reaches 100,000+ users and on Twitter, they have 64K+ followers. They receive 7,000 social mentions on blogs and social media per month. They have 12,191,108 backlinks referring to them from other web sites with NBCnews.com using 1,295,337 links in reference to BankRate.com.

The current President and CEO – Thomas R. Evans has a background as the CEO of the GeoCities. Prior to that he was President and Publisher of U.S. News & World Report, Fast Company and Atlantic Monthly Magazines.

For personal finance bloggers, this company is the one to look for expert personal finance content and current rates on anything dealing with money and investing.

Behind the scenes of Bankrate Inc. you see a fast growing, reliable company providing financial information for millions of people. A leader in data aggregation and the use of technology to help people in all walks of life.