As long as the big bank’s and financial institutions continue getting butchered on Wall Street, we poor wives of investment bankers will have to live with high blood pressure and hypertension.
I am saying so because, I have gone through a fraction of the pain of how it feels to have an unemployed husband at home searching for jobs online and making frantic calls to companies and HR guys. This gives me a high blood pressure.
What adds to my hypertension are depressing tales like — my friend (an i-banker) is doing more volunteering work at his housing society. Another laid-off banker has been spending more time with her daughter. And I am writing a blog.
Like the top executives of some of the country’s financial firms, all of the above people can trace their misfortune directly to the US financial meltdown. Unlike their bosses, however, they can’t rely on million-dollar golden parachutes to carry them through tough times.
It’s ironic how times have changed and fortunes have dipped. Dow Jones newswire carried an interesting read.
One summer evening, six bankers celebrated a business deal with dinner at a London restaurant. Several hours and three bottles of Chateau Petrus later, they had run up a bill of more than GBP44,000 (that’s roughly Rs 3,281,849)- according to Guinness World Records, the most expensive meal per capita ever.
It is unlikely that they are still celebrating. Five of the diners – employees of Barclays Capital, the investment banking division of Barclays PLC (BCS) – have reportedly lost their jobs, and the sixth is keeping a low profile.
Examples of cost cutting can be found back home too. And with every rupee cut that happens in the household budget, I see my blood pressure rise. It’s a crushing reality to live like second class citizens, but then times are tough and good jobs are tougher to come by.