GUEST COMMENT: Banking is for bullies

27 February 2009

2 minute read

In my 26 year career in financial services, I have come across more than my fair share of kingdom builders, bullies and quite frankly immature and insecure managers.

Many of them have reached their positions simply by virtue of contacts or working in the same place for a long time. The polite and trustworthy ones never seem to stay around for long!

Personally I work to live, but many of my colleagues live to work. Do you really need a close and social friendship with a manager to ensure you receive the optimum remuneration? Or could you keep your independence and self respect intact and aim for the top based on your performance and technical proficiency? Or am I just bitter or a cynic whom has spent too long in the City?

I can't complain as I've done rather well for myself. I've had a successful career, have avoided management jobs, and have earned credit and rewards via a track record of positive P&L generation.

I have, however, been less successful at avoiding some of the terrible managers at work in the City. At least one of a catalogue of inept superiors was a definite bully. He excluded me from all business discussions and desk meetings, even though I had proved exceptionally successful within my role. I could only suppose it was because I didn't fit the mould of the ideal workmate: I had neither the correct ethnic background nor shared the general interests of my colleagues,

Most people are fearful of raising a complaint internally in case they're labelled a liability. The fear of losing a discretionary bonus perpetuates this. As a result, we have a dog eat dog world - a pernicious and damaging culture in which the most bullying and assertive thrive.

Should we be left with a fragment of dignity? Or have we sold our souls to the highest bidder in return for a life of luxury, private schooling, health benefits, and the ability to look down on others from up high above!

The author is a trader at a European bank.

AUTHORAnonymous

Insider Comment

Ma
Marianne123
27 October 2009
Hey Guys
I am french and was awfully bullied by Brits here in london in a small office. So pleaseeeeeeeeee
It is not a french things, its a corporate culture.
And BTW is not better in the US, just bullying is quite legal. That is it.
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Sc
Sceptic
19 March 2009
Bullies in the end are cowards and as the OP rightly said are rife in banking.
Now of course the whole game is destroyed and hopefully we will see many of these types licking their own rear ends on the dole .
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Gl
Glad2begone
19 March 2009
You think banks are bad!?! Try Hedge Funds where there is no HR department!!
At a Fund I worked at the head of the European office used to swear, throw pens at the execution traders, shout and verbally destroy people for his own personal pleasure. It was only when the whole execution desk threatened to walk out on the same day (a collective action unheard of in banking) that this guy reprimanded by the other directors.
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AS
AS
2 March 2009
Thanks Anon,
I guess I was so desperate I would have done that anyway. I did keep records of her behaviour and also printed out abusive emails she used to send to me at ridiculous times completely undermining my work. The thing is, I also knew she was supported by all senior staff locally and abroad - it was a real fraternity in there. All Americans too! Of course, bring in the Americans to manage the little Europeans who don't know any better....
Everybody knew this. I had an easy way out, as most of us were made redundant anyway. And I say...Thank God! Needless to say, she is of course still there, and am enjoying the thought of her having to learn the job and working her bits off, for once. :)
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An
Anon
2 March 2009
AS,
Sorry to hear about your situation. It is tricky, people always warn the victim not to complain otherwise they will be booted out of the bank. But you need to be aware this is part of the wider strategy they use to avoid litigation. The likihood is that if you are getting bullied your days are numbered anyway and if you don't make an official complaint and keep a record of the bullying, if you want to bring legal action you will have very little credibility.
I was bullied out of my job but because I have a legal background I knew to approach HR, who naturally used every psychological tactic to make me backdown. No one in my team supported me and I did get made redundant. But I also walked away a lot stronger knowing that I was not their B**ch and also had a rather large payoff to keep me quiet. Bullying is hell and you never get over it till you stand your ground and fight back!
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