Stress: Behind The Abnormal Death Of The Workplace

Glossy Finance The pressure on the industry is Workplace The pressure is also the pressure of survival. Who will release them? pressure ?
In May 4th, the Shanghai Composite Index fell 2900 points. Domestic stock index futures fell and the main contract fell by 2.60%.

Zhao Lichen, who studies stock index futures, has not seen this scene. Today is his "seventh day" anniversary.

A week ago, in April 28th, Zhao Lichen, a researcher at Shenyin and WAN Guo, died in a jump building. He was only 33 years old. Before him, he also had a sudden death of a researcher at CICC, a PWC master's "karoshi", and the first generation of "suicide" in the city of London.

The accumulation of financial industry has become more realistic under the impact of these extreme cases.

Determination of Death

In April 28th, Zhao Lichen jumped from the 11 floor of peacetime work. This floor is the headquarters of Shenyang Wanguo Securities Investment and derivatives headquarters, and the Zhao Zaigai department is engaged in the research of stock index futures.

Even if the information is limited, we can still piece together a typical youth image of the financial industry.

Zhao Lichen, born in 1978, Liaoning Province, is a master of finance from Shanghai University of Finance and Economics. After graduating in 2007, Zhao entered Shen Wan head office. At that time, he applied for quantitative research on financial derivatives. In December 13th of that year, he obtained the certificate of securities qualification.

The death of a young brokerage researcher

It seems that Zhao Lichen's resume in Shen Wan seems to be plain sailing.

In April 2009, Zhao Shen and Shen Wan were awarded the two or three prize of the financial products innovation award of China Securities Association in 2008, which was related to stock index futures. In the same year, he also worked with alumni alumni to publish papers in a national academic publication.

Referring to the salary system of the securities industry, Zhao Lichen's qualifications can be exchanged for about 300 thousand annual salary and a certain number of quarterly awards and year-end awards.

But Zhao Lichen stopped all of them.

Along with the news of his suicide, a rumor that Zhao Lichen was born as a derivatives investment manager and led to a recent stock index crash led to the trend of the stock market since April.

Data show that in April 11th, the Shanghai and Shenzhen 300 index hit 3380.53 points in the first half of the year, but then fell again and again. To the last trading day of the month, that is, 3147.14 points in April 29th, the total has dropped 6.90%.

"At present, the margin of Futures Company is generally around 15%, which is equivalent to about 6 times of leverage. When the Shanghai and Shenzhen 300 index dropped by nearly 7%, it means a loss of up to 40% or so. If investors insist on doing more at high positions or even make up their positions, the result will be a storehouse." A founder of a private company in Shanghai told reporters.

"But this is a very extreme situation." The official stressed that in reality, once there is a continuous loss, resulting in insufficient funds, investors will be required to increase margin or forced liquidation. It is not common to really lose a warehouse.

What should be more concerned is that Zhao Lichen's securities industry has been subject to more stringent regulation in stock index futures trading.

Judging by Zhao Lichen's Department, the securities investment and derivatives headquarters is responsible for the operation of Shen Wan's self operated account. Under the supervision regulations, the purpose of securities companies' participation in stock index futures is firmly limited to the scope of hedging.

Hedging, that is, buying or selling futures contracts that are quite similar to the spot market but contrary to the futures market, to hedge the risk of the spot market in the future.

"If the operation is guaranteed, the spot positions held by the securities companies are basically long, and the corresponding hedging transactions should be short sellers. Instead, they should profit from this downward trend." The head of the securities derivatives Department explained to reporters.

On the evening of 28, Shen Wan first responded to the rumour of "stock index futures warehouse explosion": "the employee is a researcher at the company headquarters". The company explained that Zhao Lichen, as a researcher, would not be in touch with the actual investment operation.

In addition, Shen Wan also stressed that since last year, the company has launched the stock index futures hedging business, and has not traded other stock index futures, and the stock index futures hedging operation is normal and profitable.

The elite under overdraft

"The financial industry is under pressure. This pressure may not be the pressure on your survival, but the change in the market, and the emotional anxieties of this change." After hearing Zhao Lichen's accident, a senior manager of a brokerage firm in Beijing said with emotion to reporters.

Prior to this, there were cases of sudden death of a Chinese gold researcher, a vice president of Pudong Development Bank's capital department, and a case of PWC's master's death. In April 22nd, Liu Ying, head of the Chinese city of London, ended her life in the parking lot of the office building.

The latest suicide accident is a pity for the bright financial industry.

In the impression of colleagues, Zhao Lichen was "introverted, not good at self releasing pressure", and his former colleague recalled that Zhao had a job hopping plan recently, but unfortunately it did not succeed.

It was only after Zhao Lichen's accident that the fragmented memories were remembered.

Unlike the researchers in the traditional concept, Zhao Lichen worked in Shen Wan's self employment department, which explained why there was no report in four years' work. "We also have research reports, but it is for the company's own operation to provide recommendations, not disclosed." A researcher from another self dealer department in Shanghai explained to reporters.

Therefore, the study of such researchers needs another system.

"We were asked to set up our own simulation asset pool, and the company would compare the profits according to a certain period." In the industry, there are also brokerage firms to define the inspection cycle as weekly.

"Generally speaking, the shorter the cycle, the greater the pressure; this has higher demand for our stock market and stock selection capability." The above Securities researcher evaluation.

In other respects, the researchers are not very different, of course, including overtime.

Xiao Hua (a pseudonym) is a research fellow of the securities company. He has rushed to the golden tablet of finance. He jumped from the real estate company to his present position two years ago.

"Because there are morning meetings, we usually go to work at 8 in the morning, and it's 5 by duty, but basically we have to postpone it until about 8 p.m. and go home." Xiaohua told reporters.

"The biggest fear is preparation strategy, or temporary policy, which has to stay up all night; until the mail is seen, it is basically issued in the morning; and even some colleagues stayed up late writing the report, immediately rushed to the airport to participate in research."

"There is no overtime pay. The benefits our company gives us is free dinner and the cost of returning home."

Despite many complaints, Xiao Hua still intends to stay.

"We will have to endure the task of doing our job, and it will be easier to change jobs." Xiao Hua plans. Around him, many colleagues have gone to the buyer organizations such as fund, insurance, private placement, and even have the chance to personally run the business. When this level is reached, the corresponding one may be a million annual salary.

Just now, Ma Nan, 27, did not survive.

In December 31, 2010, Ma Nan was found dead at home. At that time, he was a research assistant in the agricultural food industry of CICC. He even worked in KPMG earlier. Although there was no official response afterwards, the industry rumoured that Ma Nan was working overtime after three consecutive nights of overtime, because his team had hit the top three target of the industry, and the intensity of work was larger than that of other researchers.