Time to start hedging your life

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Time to start hedging your life

I often thank my lucky stars I got out of banking when I did. Back in the day, client meetings meant extended afternoon lunches supplemented by the finest booze, on the bank’s account, of course.

Being charming was part of the job description and was second nature to me. I was quite the star then, so my bosses couldn’t dream of giving me the boot. 

But oh, how the tide has changed. I often wonder how I’d fare today, with the numbers crunched out by the accounting department dictating the agenda rather than the people that make up an organisation.

There certainly appears to be no end to the dark times that have befallen the banking fraternity of today. But as the saying goes, when the going gets tough, the tough get going.

A close friend of mine, who until recently worked for the ill-fated equity department of a UK bank, did just that, applying the principles of hedging to her personal life too. Rumours about the amputation of the Asian equity department had been swirling for several months before the official announcement.

Not one to wring her hands, my friend went out and found herself a new role at a bigger outfit. After signing a pre-agreement with her new bank, she was subsequently made redundant by her old bank. That meant she could pocket the payment and go on two months’ gardening leave before taking up her new job.

All I can say to those working in today’s hypercompetitive bank market is that it’s better not to be caught out like a deer in the headlights. Anticipate no profit and provide for all losses, my friends.

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