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Brokers, analysts abuse alcohol

Posted - Aug. 17, 2004 at 2:20 p.m.



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NEW YORK, Aug 17, 2004 (United Press International via COMTEX) -- A New York consultancy has found financial-sector workers have a problem with alcohol abuse, Business Week reported Tuesday.

Catalyst Strategies Group found of 151 respondents, 32 percent had six or more drinks at least once a week, and 54 percent indulged in binge drinking at least once a month.

Nearly all respondents were transaction brokers, financial analysts and investment bankers.

Many were male, single, in their mid-20s and making about $100,000 annually, said the consultancy's head, Alden Cass.

Cass said highly paid financial-sector workers in New York face numerous pressures to hide their stress, which contributes to alcohol abuse.

"There's a stigma against mental illness on Wall Street. Things like sadness, depression, illness, and anxiety are viewed as a weakness in character or ability. There's a perception that (such things) are bad. Often, people are afraid that if others find out, they'll be fired."

Copyright 2004 by United Press International.

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