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Is working in finance bad for your marriage?

And is marriage good for your career?

Alchemy Partners boss Jon Moulton says the personal affairs of his employees become more complex the more money they have to spend. An article in yesterday's Financial Times suggests hedge fund bosses are suffering a similar problem - wealthy hedge funders are apparently using postnuptial agreements to insure their finances against marital strife.

One (divorced) ex-banker tells us that working in finance takes its toll on relationships, but says money's not the issue: "There's a huge amount of pressure. Bankers are working in the office until 7pm or 8pm at night and then off entertaining clients, while their spouses are just spending money and getting lonely. It's hard to keep a relationship on track - people diverge."

This is a shame, given a claim in this week's Economist that marriage is a "wealth generating institution." The magazine says people who marry and stay that way end up on average four times better off than those who remain stubbornly single.

Anecdotally, our contact also says people who stick with their partners outshine bachelors and spinsters: "My experience at Goldman was that people at the top had fairly stable marital relationships - but that when they blew up, they blew up spectacularly."

But he adds alpha bankers may best off with compliant spouses who are content to potter around the house: "You need someone who's tolerant of punishing travel schedules and is willing to be there at home."

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AUTHORAnonymous Insider Comment
  • Om
    Omer Dar, Deloitte
    7 June 2007

    I agree with the comments. I married on Dec 29, had 1 week off and after that till early March i worked even on weekends. Within 2 months our relations blew up. By chance i managed it well in the end

  • An
    Anonymous
    6 June 2007

    Alan, are you stupid? This guy had a severe mental proplem. But the pressure is there, if you are married or not. It just you can take it out on the spouse and she is supposed to absorb it if she is on your payroll so to speak, but not all of them are prepared to take it forever.

    In a healthy relationship there is a balance and feeding off each other in bad times and good times. Whereas if you are lonely and married to your job, you can't take it out either way at work, and friends, well, you have less of them when you become older.

  • mo
    moyo
    6 June 2007

    Are lady bankers affected by this? Do lady bankers entertain clients?

  • al
    alan
    5 June 2007

    alberto izago of GE and Swiss re is alleged to have smashed his 2 year old daughters skull - does it mean all bankers who are stressed should take stress out like this?

  • An
    Anonymous
    5 June 2007

    One wonders if perhaps the same would ring true for the relationships of all the 'female fundies' out there......

    Do men get lonely and shop???

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