- Have you had a bad experience while working at Baird? E-mail germania.rodriguez@mailonline.com
An investment bank’s grueling 110-hour weeks allegedly gave a trader organ failure, with his bosses then cruelly firing him, it is claimed.
Robert W. Baird, a small bank based in Milwaukee, has been accused of imposing grueling hours, regularly demanding that junior bankers work until 4am or even through the night.
One former employee, who has not been named, was reportedly diagnosed with a failed pancreas after collapsing at home from exhaustion.
They had previously raised concerns about regular 20-hour days, and doctors believed the medical issue was linked to the heavy workload.
Shortly after the banker ended up in the emergency room, they were fired for poor productivity, as reported by the Wall Street Journal.
Former Baird employees told the outlet they feared complaining about the workload would make them look weak when big deals are being ironed out.
They also said senior bankers often replied with the old chestnut that they’d had it much worse in their day, with that alleged machismo defense making it much harder to complain.
One ex-analyst told the Journal that he was admonished when he stepped away for 25 minutes to have dinner as he worked on a deal that took a year and involved all-nighters.
Robert W. Baird, a small bank based in Milwaukee, has been accused of making junior members work grueling 110-hour weeks
Steve Booth, chairman and CEO of Milwaukee-based Baird & Co, is pictured in 2022
The former banker said his boss became furious and told him he should never leave his desk for over five minutes without notifying him.
Amid the alleged taxing conditions, over a dozen junior members have left the bank since the start of 2024. At least two reportedly ended up in the hospital.
A viral anonymous post on Reddit earlier this month highlighted the working conditions at the bank, saying: ‘As an analyst and associate, you are treated as scum.’
The post then received hundreds of comments from people sharing their own alleged experiences at Baird and other financial institutions.
Baird, which claims it has a ‘no a-hole culture,’ then summoned a town hall and encouraged junior traders to come forward with concerns, with management pledging to listen more.
Meanwhile Aaron Haney, a mid-level banker who was mentioned on the Reddit complains for supposedly assigning 20-hour days, was fired after the posts went viral.
However, several analysts told the Journal Haney was well-liked and often worked as hard as his juniors.
DailyMail.com has reached out to Baird for comment on the Journal’s claims.
Working conditions for investment bankers have become a topic of discussion in recent years as complaints increasingly emerge.
Last year, former Green Beret Leo Lukenas III died just one year into a grueling investment banking job at Bank of America
Last year, a former Green Beret died just one year into a grueling investment banking job at Bank of America, where associates said they worked 100-hour weeks that left them feeling sick.
Leo Lukenas III, 35, died in New York City from ‘acute coronary artery thrombus, – a disease that causes the formation of a blood clot inside a blood vessel of the heart.
The father of two and former member of the Army’s Special Forces moved to banking in an attempt to ‘pursue new opportunities for his family.’
The Brooklyn resident had reportedly recently worked on UMB’S $2billion deal acquisition of Heartland Financial USA, Inc.
But, while his death was officially attributed to ‘natural causes,’ it sparked claims from Wall Street workers who say the industry’s conditions are unsustainable, particularly when ironing out a big deal.
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