Mental Health in Finance: Recognizing Burnout and Building Resilience

The associate hadn't slept more than four hours a night in three weeks. He was making mistakes. He was snapping at analysts. He knew something was wrong but didn't know what to do about it.

"I thought if I just pushed through, it would get better," he said later. "It didn't."

Finance takes a mental toll that the industry has historically ignored. The hours, the pressure, the constant performance evaluation—they accumulate. Some people thrive in this environment. Many don't. Most struggle at some point.

This isn't a guide to "fixing" mental health with five easy tips. It's an honest look at what finance does to people and what actually helps when you're struggling.

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The Reality

What the Industry Does to People

Finance creates specific mental health challenges:

Chronic sleep deprivation. 80-100 hour weeks mean insufficient rest. This affects mood, cognitive function, and emotional regulation.

Sustained high pressure. Constant deadlines, demanding clients, and performance evaluation create chronic stress.

Lack of control. Your schedule isn't yours. Plans get canceled. Life happens around work.

Social isolation. The hours leave little time for relationships, friends, or outside interests.

Identity fusion. When work consumes everything, your identity becomes your job. Struggles at work become personal crises.

Comparison culture. Everyone around you is accomplished. The baseline for "success" keeps moving.

The Numbers

Data on mental health in finance is limited, but what exists is concerning:

Anxiety and depression: Studies suggest higher rates among finance professionals than general population

Substance use: Elevated rates of alcohol and stimulant use

Sleep disorders: Widespread, often normalized

Burnout: Majority of junior bankers report symptoms

Suicidal ideation: Present but rarely discussed openly

The industry is slowly acknowledging these issues. But cultural change is slow.

The Culture Problem

Finance has a culture that compounds mental health challenges:

Normalize suffering. "Everyone works these hours. What makes you special?"

Stigmatize struggle. Admitting you're struggling feels like admitting weakness.

Glorify the grind. Stories of all-nighters and heroic effort are celebrated.

Ignore warning signs. Until someone collapses or quits, problems are often invisible.

This culture is changing, slowly. But it still dominates many firms.

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Recognizing the Signs

Burnout vs. Tired

Everyone in finance is tired sometimes. Burnout is different.

Tired:

• Recovers with rest
• Still engaged with work
• Temporary state
• Knows it will pass

Burnout:

• Doesn't recover with rest
• Emotionally exhausted and detached
• Chronic state
• Feels endless

The Burnout Symptoms

Physical symptoms:

• Chronic fatigue that sleep doesn't fix
• Frequent illness
• Changes in sleep patterns
• Headaches, muscle tension
• Changes in appetite

Emotional symptoms:

• Feeling drained and depleted
• Cynicism and detachment
• Sense of failure or self-doubt
• Loss of motivation
• Feelings of helplessness

Behavioral symptoms:

• Withdrawal from responsibilities
• Isolation from others
• Procrastination
• Using substances to cope
• Taking frustration out on others

Cognitive symptoms:

• Difficulty concentrating
• Forgetfulness
• Making more mistakes
• Inability to make decisions

When to Worry

Take these signs seriously:

Persistent changes. Symptoms lasting more than a few weeks

Functional impact. Affecting work performance or relationships

Physical manifestations. Body showing strain

Thoughts of self-harm. Seek help immediately

The Honest Self-Assessment

Ask yourself:

• When did I last feel genuinely rested?
• Am I still excited about any aspect of my work?
• Do I have relationships and interests outside work?
• Am I using substances to cope?
• Would I want to continue this for another year? Five years?

Honest answers may be uncomfortable. That's the point.

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What Actually Helps

Professional Help

Therapy works. Having someone to talk to who isn't your colleague, friend, or family member provides valuable perspective.

Types that help:

• Cognitive Behavioral Therapy (CBT) for thought patterns
• Talk therapy for processing
• Stress management techniques

How to access:

• EAP (Employee Assistance Program)—most firms have them, they're confidential
• Insurance-covered therapists
• Private pay therapists

The barrier: Stigma keeps people from seeking help. This is slowly changing.

Medical Support

When to see a doctor:

• Physical symptoms that don't resolve
• Sleep problems affecting function
• Anxiety or depression symptoms
• Substance use concerns

What they can help with:

• Rule out physical causes
• Medication if appropriate
• Referrals to specialists

Sleep

Sleep is foundational. Everything else works worse without it.

What helps:

• Protect sleep time as much as possible
• No screens before bed (hard in banking)
• Dark, cool room
• Consistent wake time (more important than consistent bedtime)
• Naps when possible (20-30 minutes)

The reality: You can't always control sleep in banking. But every marginal improvement helps.

Exercise

Physical activity significantly impacts mental health.

What helps:

• Any movement is better than none
• 20-30 minutes is enough
• Morning is often most reliable time
• Don't let perfect be enemy of good

Making it work in banking:

• Gym in the office (many banks have them)
• 20-minute hotel room workouts
• Walking whenever possible
• Weekend workouts when you can't during week

Connection

Isolation makes everything worse. Connection helps.

What helps:

• Maintain at least one or two close relationships
• Talk to people outside the industry
• Stay connected with family
• Find peers who understand (other junior bankers)

The challenge: Hours make this hard. You have to prioritize it.

Boundaries (Where Possible)

You can't set perfect boundaries in banking. But you can set some.

What's often possible:

• Protecting one meal a day to eat properly
• Taking 15 minutes for yourself daily
• Saying no to unnecessary extras when stretched
• Communicating when you're at capacity

What's usually not possible:

• Refusing work when needed
• Leaving early regularly
• Weekend protection during live deals

Know the difference.

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Coping Strategies

Day-to-Day

Small things that help:

• Take actual lunch breaks when possible
• Step outside for fresh air
• Short walks between meetings
• Hydration and nutrition basics
• Brief phone calls with people you care about

Mindset shifts:

• This is temporary (analyst stint is 2 years)
• Others have survived and thrived
• Your identity isn't only your job
• There are other options if needed

During Brutal Stretches

When you're in the worst of it:

Survival mode is okay. Don't expect to thrive. Just get through.

Focus on basics. Sleep, food, hydration. Everything else is extra.

Find small wins. Something to feel good about each day.

Know it ends. The deal will close. The pitch will happen. Nothing lasts forever.

Reach out. Text a friend. Call family. Stay connected.

Building Longer-Term Resilience

Develop perspective:

• Finance is one chapter, not the whole book
• Your worth isn't your work
• Success has many definitions

Cultivate outside interests:

• Something that isn't work
• Hobbies, relationships, activities
• Even small investments in outside life matter

Find meaning in the work:

• Connect to what you're learning
• Appreciate the team you're on
• Remember why you chose this

Plan for the future:

• Know this isn't forever
• Have a sense of what comes next
• Use the hardship purposefully

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Having the Conversation

With Managers

Discussing mental health with managers is delicate.

What to consider:

• Manager's receptivity (some are better than others)
• Firm culture around mental health
• Your performance standing
• What you're actually asking for

Approaches that work:

• Framing around performance: "I want to do my best work, and right now I'm struggling because..."
• Being specific: "I need X to function better" (sleep, day off, fewer staffings)
• Professional tone: Not venting, problem-solving

What to avoid:

• Vague complaints without solutions
• Comparing yourself to others
• Threatening to quit (unless you mean it)

With Peers

Peer support is valuable but complicated.

What helps:

• Finding trusted colleagues who get it
• Sharing experiences (you're not alone)
• Practical tips from people in the same situation

What to be careful about:

• Not everyone is trustworthy with sensitive information
• Constant complaining can be toxic
• Competition can make vulnerability risky

With Family and Friends

Outside perspectives help but require translation.

The challenge: Non-finance people don't fully understand the environment.

What helps:

• Explain the context
• Be specific about what support you need
• Don't expect them to fix it
• Accept that they'll worry

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Knowing When to Leave

The Honest Question

Sometimes the answer is: this isn't working for me.

Signs it might be time:

• Persistent mental health struggles despite intervention
• Physical health deteriorating
• Relationships suffering beyond repair
• No joy or meaning in the work
• Better options exist

The Fear of Leaving

People stay too long because:

Sunk cost: "I've invested so much already"

Fear of failure: "What will people think?"

Identity: "I don't know who I am without this"

Uncertainty: "What would I even do?"

These fears are real but shouldn't trap you in something harmful.

The Permission to Choose Differently

Leaving banking isn't failure. It's a choice.

Many successful people left finance for other paths. Many people who stayed wish they'd left sooner.

There's no right answer—just the answer that's right for you.

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What Firms Should Do

The Firm Responsibility

Firms bear responsibility for mental health culture:

What good firms do:

• Protected time programs (enforced, not just announced)
• Mental health resources (EAP, counseling access)
• Training for managers on recognizing struggles
• Staffing that doesn't require constant emergencies
• Culture that doesn't glorify suffering

What many firms still do:

• Announce programs but don't enforce them
• Rely on individuals to manage their own wellbeing
• Celebrate extreme work without questioning it
• Ignore problems until they become crises

Asking About Mental Health in Recruiting

It's fair to ask firms about mental health culture:

Questions to ask:

• What support is available for mental health?
• How are protected weekends enforced?
• What happens when someone is struggling?
• How do managers get feedback on team wellbeing?

The answers reveal culture more than the website does.

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Resources

If You're Struggling Now

Crisis resources:

• National Suicide Prevention Lifeline: 988
• Crisis Text Line: Text HOME to 741741
• International Association for Suicide Prevention: https://www.iasp.info/resources/Crisis_Centres/

Less acute support:

• Your firm's EAP (Employee Assistance Program)
• BetterHelp or similar online therapy
• Your primary care doctor

Building Support Over Time

Reading:

• "Burnout" by Emily and Amelia Nagoski
• "Why We Sleep" by Matthew Walker
• HBR articles on burnout and work culture

Apps:

• Headspace or Calm (meditation)
• Sleep cycle apps
• Habit trackers

Professional:

• Therapist (ongoing relationship, not crisis only)
• Executive coach (for work-specific issues)
• Career counselor (if questioning the path)

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The Bottom Line

Finance takes a mental health toll. The hours, pressure, and culture create challenges that the industry is only beginning to address honestly.

The reality:

• Burnout is common, not rare
• Struggle doesn't mean you're weak
• The culture often makes things worse
• Professional help works

What actually helps:

• Recognizing the signs early
• Getting professional support
• Protecting basics (sleep, food, connection)
• Building perspective beyond work
• Knowing when to make changes

The hardest truth:

• Sometimes the job isn't right for you
• Leaving isn't failure
• Your mental health matters more than any job

You're not alone in struggling. Others have navigated this and come out okay. Some changed their approach and stayed. Some left and thrived elsewhere. Both paths are valid.

Take care of yourself. It's not selfish. It's necessary.