"I work 16 hour days in data remediation for a big US bank and am paid a pittance"
Next time you read about the huge pay on offer at US investment banks, take it with a pinch of salt. Some people in banks are paid a lot, but many are paid a little.
I work in data quality at a major US bank, and my job involves long hours. I work 10-16 hour days, and often work weekends. We are working on remediation tasks and have strict deadlines or the bank may be fined. We are understaffed and have to work a lot of additional hours without compensation. Sometimes I work until 1am. It's very stressful, and I have had major health issues and been hospitalized as a result.
For this, I am paid far less than the big bankers on seven figures. Bonuses in my area are $4k-$6k. Last year I had a 2.5% pay rise. No one is getting promoted.
The situation seems to be getting worse rather than better. The bank has been letting people in my team go and is instead filling positions in Costa Rica and the Philippines where people have no experience.
In the meantime, we are being told that the bank cares about us and values our work, but are paid little, worked ridiculous hours, and given no pay rise. Instead, last year we received a small gift certificate to buy something from an overpriced catalogue. When I was out of the office sick with stress, no one contacted me to ask how I was.
This is the reality for many of us in banking jobs. Don't believe the hype.
Vanessa Bernier is a pseudonym
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