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21-08-2013, 09:50 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
'I was expected to excel in life': High-flying bank intern who died after working 'crazy hours' had written of huge pressure to succeed
Moritz Erhardt had been interning with investment bank Merrill Lynch
Erhardt, from Germany, was found dead in his East London flat last week
He said he felt pressured to be good at everything, a competitive streak which he admitted sometimes led to 'severe injuries'
21-year-old had pulled eight all-nighters in two weeks during his summer internship
He wrote 'I have learned that complacency implies stagnancy'
By Christian Gysin (http://www.dailymail.co.uk/home/search.html?s=&authornamef=Christian+Gysin), Claire Ellicott (http://www.dailymail.co.uk/home/search.html?s=&authornamef=Claire+Ellicott), Martin Robinson (http://www.dailymail.co.uk/home/search.html?s=&authornamef=Martin+Robinson) and Allan Hall In Berlin (http://www.dailymail.co.uk/home/search.html?s=&authornamef=Allan+Hall+In+Berlin)
comments
http://i.dailymail.co.uk/i/pix/2013/08/19/article-0-1B5F2D75000005DC-495_306x490.jpg 'All-nighter': Moritz Erhardt, 21, had been working gruelling hours as an intern at an investment bank
A young student who died after working 'crazy hours' as an intern at a top investment bank said he felt 'pressurised' to succeed before his death.
German student Moritz Erhardt collapsed in the shower at his student halls in east London just days before completing a grueling internship at Bank of America Merrill Lynch International investment bank division.
Friends of the 21-year-old, who had recently completed a study abroad programme at the University of Michigan, claimed he had been forced to work through the night eight times in a two week period in an effort to secure long term work with the firm.
But it has emerged that he always felt compelled to be the best, a competitive edge which, he admitted sometimes caused him 'severe injuries.'
In an online portfolio Mr Erhadt told prospective employers that his upbringing taught him to always be driven to be good at everything.
He wrote: 'I have grown up in family that expected me, in whatever respect, to excel in life.
'By implication, I felt somehow pressurizes [sic]. However I did not intend to blie my parents' expectations.
'Therefore I have become highly competitive and ambitious nature from early on.
'Already during my times in elementary school I began playing soccer as well as tennis, I engaged in track and field athletics, and I started ski racing.
'Sometimes I had a tendency to be over ambitious, which resulted in severe injuries.
'With respect to my performance in school, I was striving for excellence and trying to be the best all the time.'
Reflecting on his intensive approach to his education he added: 'Over the last year, I have learned that complacency implies stagnancy.'
http://i.dailymail.co.uk/i/pix/2013/08/20/article-2398415-1B6235F9000005DC-828_634x1090.jpg Grueling internship: Friends of the 21-year-old claimed Mr Erhardt, pictured, had been forced to work through the night eight times in a two week period
The profile also shows that prior to his seven week internship at Merrill Lynch, he had also completed placements at KPMG Consulting, Morgan Stanley and Deutsche Bank's corporate finance division.
Mr Erhadt had studied business administration as an exchange student at the University of Michigan before attending WHU Otto Beisheim School of Managment in Vallendar, Germany, according to the Evening Standard.
Last night a representative for the Otto Beissheim School of Management business college where Mr Ergardt studied and from where he was due to graduate next year, called him 'a wonderful person.'
Head of PR Peter Augstin said: 'We are all deeply shocked. He was a wonderful person and a dedicated student. He will be sadly missed. We are still trying to come to terms with his death.'
http://i.dailymail.co.uk/i/pix/2013/08/20/article-2398415-1B6235F5000005DC-396_306x423.jpg Body: The body of Moritz Erhardt, pictured with a friend, was discovered on Thursday evening
He was a regional leader of the Junge Union, the youth organisation for the political pary of Christian Democratic Union and also a regional champion tennis player who won school awards in maths, English and French.
The student had also visited Israel to try to 'understand' the Arab-Israel conflict and donated English book to Palestinian teenagers at an international school in Bethlehem.
He as planning to apply to the MBA program at the Ross School of Business in Michigan and was also considering a graduate degree in public policy, foreign affairs or philosophy.
Mr Erhadt was discovered by friends at Claredale House in Bethnal Green on Thursday, paramedics tried to resuscitate him but he was pronounced dead at the scene, it is believed that he suffered from epilepsy and could have had a seizure.
Speaking outside the student halls which are let to hundreds of interns each summer, one friend said he believed the long hours played a part in Mr Erhadt's tragic death.
He said: 'He was working in investment banking and apparently he pulled eight all-nighters in two weeks.
'They get you working crazy hours and maybe it was just too much for him in the end.'
Paid interns at the bank normally earn £45,000 ($70,550) a year pro rata - around £2,700 ($4,200) a month.
Yesterday, internet forum users also said he had been working 'all-nighters' during his stay with the company.
Many banks are known to encourage their young students to work late into the night and in the past there have been claims those keen to impress have put in long hours with very little sleep.
http://i.dailymail.co.uk/i/pix/2013/08/20/article-2398415-1B6235F0000005DC-263_634x468.jpg Superstar: Friends called Mr Erhardt, pictured center, the 'superstar' of the internship programme
On one site, called wallstreetoasis.com, many posters insisted Mr Erhardt regularly worked long hours and added: 'One of the best interns at BAML – three all-nighters, didn't turn up, colleagues went to find him.'
A fellow intern called Mr Erhardt 'the superstar' of the programme.
He said: 'We typically work 15 hours a day or more and you would not find a harder worker than him.
'He seemed a lovely guy and was very popular with everyone. He was tipped for greatness.'
Mr Erhardt had been living in the Claredale House student accommodation flats in Bethnal Green, East London. The apartments are rented out to hundreds of interns during the summer months.
A friend from one of Mr Erhardt's classes said that he was such a workaholic that he would turn in assignments early because he 'wanted to be the best.'
http://i.dailymail.co.uk/i/pix/2013/08/21/article-2398415-1B620ECB000005DC-822_634x460.jpg Work experience: Student Moritz Erhardt, pictured in front of St Paul's Cathedral, was working as an intern in London
http://i.dailymail.co.uk/i/pix/2013/08/21/article-2398415-1B620ED4000005DC-532_306x423.jpg
http://i.dailymail.co.uk/i/pix/2013/08/21/article-2398415-1B620EE8000005DC-517_306x423.jpg
Dedicated: Moritz Erhardt, pictured taking time out of work (left), was an ambitious 21-year-old
The female friend, who was in his strategy class at the Ross School of Management, also revealed that he was a 'night owl' who was used to staying up late studying.
She said: 'He was always asking questions of the teachers to stay ahead of his work. He was always presenting his work early, handing in his projects ahead of time.'
The friend added: 'He was just a hard worker. He wanted to be the best.
'I don't know what happened in that situation... maybe the situation got the better of him.
'He would work very late in college, I don't know if that lifestyle was hard for his body. He would stay up late at night and he was a night owl. He liked to sleep in.'
Another poster on the wallstreetoasis.com site added: 'It is absolutely true – he was found dead in the shower by his flatmate. Intern at BAML who went home at 6am three days in a row.'
On Friday, staff at the Claredale complex issued a statement to residents, part of which read: 'Some of you might be aware that the emergency services were called to Claredale yesterday evening.
'The reason for this is that we were made aware of an incident involving one of our residents. Sadly the resident concerned had passed away.
'To avoid any rumours or misinformation, we would like to inform you all that there were no suspicious circumstances surrounding the death.'
In recent years interns have told of working long hours at investment banks.
http://i.dailymail.co.uk/i/pix/2013/08/19/article-2397527-1B5F2D24000005DC-767_634x414.jpg Long hours: Mr Erhardt was near the end of his seven-week summer internship with Bank of America Merrill Lynch International in London when he died
One 20-year-old told London's Evening Standard in 2011 that 'you work whatever hours you're asked to.'
He added: 'Every intern's worst nightmare is what's called "the Magic Roundabout" – which is when you get a taxi to drive you home at 7am and then it waits for you while you shower and change and then takes you back to the office.'
Another 24-year-old told the same newspaper: 'About 100 hours a week was the minimum and the average was probably 110. I worked six-and-a-half days a week.'
http://i.dailymail.co.uk/i/pix/2013/08/19/article-2397527-1B5F4ED5000005DC-308_634x400.jpg Summer stay: Mr Erhardt, from Germany, had been staying at Claredale House in Bethnal Green, London, during his internship
A source at Merrill Lynch said Mr Erhardt had completed previous internships at other investment banks but could not confirm or deny claims he had worked exceptionally long hours.
However he insisted staff are given both 'mentors' and 'buddies' when they join the firm and are monitored by staff from the human resources department.
The source added Mr Erhardt was very well-liked by members of staff and there will now be a post mortem examination and inquest into his death.
A statement from BAML said: 'We are deeply shocked and saddened by the news of Moritz Erhardt's death.
'He was popular amongst his peers and was a highly diligent intern at our company with a promising future.
'Our first thoughts are with his family and we send our condolences to them at this difficult time.'
Read more: http://www.dailymail.co.uk/news/arti...#ixzz2cYpe7uU1 (http://www.dailymail.co.uk/news/article-2398415/Moritz-Erhardt-dies-High-flying-bank-intern-died-working-crazy-hours-written-huge-pressure-succeed.html#ixzz2cYpe7uU1)
Follow us: @MailOnline on Twitter (http://ec.tynt.com/b/rw?id=bBOTTqvd0r3Pooab7jrHcU&u=MailOnline) | DailyMail on Facebook (http://ec.tynt.com/b/rf?id=bBOTTqvd0r3Pooab7jrHcU&u=DailyMail)
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?160485-There-is-no-limit-to-being-competitive-It-starts-from-PSLE&goto=newpost).
'I was expected to excel in life': High-flying bank intern who died after working 'crazy hours' had written of huge pressure to succeed
Moritz Erhardt had been interning with investment bank Merrill Lynch
Erhardt, from Germany, was found dead in his East London flat last week
He said he felt pressured to be good at everything, a competitive streak which he admitted sometimes led to 'severe injuries'
21-year-old had pulled eight all-nighters in two weeks during his summer internship
He wrote 'I have learned that complacency implies stagnancy'
By Christian Gysin (http://www.dailymail.co.uk/home/search.html?s=&authornamef=Christian+Gysin), Claire Ellicott (http://www.dailymail.co.uk/home/search.html?s=&authornamef=Claire+Ellicott), Martin Robinson (http://www.dailymail.co.uk/home/search.html?s=&authornamef=Martin+Robinson) and Allan Hall In Berlin (http://www.dailymail.co.uk/home/search.html?s=&authornamef=Allan+Hall+In+Berlin)
comments
http://i.dailymail.co.uk/i/pix/2013/08/19/article-0-1B5F2D75000005DC-495_306x490.jpg 'All-nighter': Moritz Erhardt, 21, had been working gruelling hours as an intern at an investment bank
A young student who died after working 'crazy hours' as an intern at a top investment bank said he felt 'pressurised' to succeed before his death.
German student Moritz Erhardt collapsed in the shower at his student halls in east London just days before completing a grueling internship at Bank of America Merrill Lynch International investment bank division.
Friends of the 21-year-old, who had recently completed a study abroad programme at the University of Michigan, claimed he had been forced to work through the night eight times in a two week period in an effort to secure long term work with the firm.
But it has emerged that he always felt compelled to be the best, a competitive edge which, he admitted sometimes caused him 'severe injuries.'
In an online portfolio Mr Erhadt told prospective employers that his upbringing taught him to always be driven to be good at everything.
He wrote: 'I have grown up in family that expected me, in whatever respect, to excel in life.
'By implication, I felt somehow pressurizes [sic]. However I did not intend to blie my parents' expectations.
'Therefore I have become highly competitive and ambitious nature from early on.
'Already during my times in elementary school I began playing soccer as well as tennis, I engaged in track and field athletics, and I started ski racing.
'Sometimes I had a tendency to be over ambitious, which resulted in severe injuries.
'With respect to my performance in school, I was striving for excellence and trying to be the best all the time.'
Reflecting on his intensive approach to his education he added: 'Over the last year, I have learned that complacency implies stagnancy.'
http://i.dailymail.co.uk/i/pix/2013/08/20/article-2398415-1B6235F9000005DC-828_634x1090.jpg Grueling internship: Friends of the 21-year-old claimed Mr Erhardt, pictured, had been forced to work through the night eight times in a two week period
The profile also shows that prior to his seven week internship at Merrill Lynch, he had also completed placements at KPMG Consulting, Morgan Stanley and Deutsche Bank's corporate finance division.
Mr Erhadt had studied business administration as an exchange student at the University of Michigan before attending WHU Otto Beisheim School of Managment in Vallendar, Germany, according to the Evening Standard.
Last night a representative for the Otto Beissheim School of Management business college where Mr Ergardt studied and from where he was due to graduate next year, called him 'a wonderful person.'
Head of PR Peter Augstin said: 'We are all deeply shocked. He was a wonderful person and a dedicated student. He will be sadly missed. We are still trying to come to terms with his death.'
http://i.dailymail.co.uk/i/pix/2013/08/20/article-2398415-1B6235F5000005DC-396_306x423.jpg Body: The body of Moritz Erhardt, pictured with a friend, was discovered on Thursday evening
He was a regional leader of the Junge Union, the youth organisation for the political pary of Christian Democratic Union and also a regional champion tennis player who won school awards in maths, English and French.
The student had also visited Israel to try to 'understand' the Arab-Israel conflict and donated English book to Palestinian teenagers at an international school in Bethlehem.
He as planning to apply to the MBA program at the Ross School of Business in Michigan and was also considering a graduate degree in public policy, foreign affairs or philosophy.
Mr Erhadt was discovered by friends at Claredale House in Bethnal Green on Thursday, paramedics tried to resuscitate him but he was pronounced dead at the scene, it is believed that he suffered from epilepsy and could have had a seizure.
Speaking outside the student halls which are let to hundreds of interns each summer, one friend said he believed the long hours played a part in Mr Erhadt's tragic death.
He said: 'He was working in investment banking and apparently he pulled eight all-nighters in two weeks.
'They get you working crazy hours and maybe it was just too much for him in the end.'
Paid interns at the bank normally earn £45,000 ($70,550) a year pro rata - around £2,700 ($4,200) a month.
Yesterday, internet forum users also said he had been working 'all-nighters' during his stay with the company.
Many banks are known to encourage their young students to work late into the night and in the past there have been claims those keen to impress have put in long hours with very little sleep.
http://i.dailymail.co.uk/i/pix/2013/08/20/article-2398415-1B6235F0000005DC-263_634x468.jpg Superstar: Friends called Mr Erhardt, pictured center, the 'superstar' of the internship programme
On one site, called wallstreetoasis.com, many posters insisted Mr Erhardt regularly worked long hours and added: 'One of the best interns at BAML – three all-nighters, didn't turn up, colleagues went to find him.'
A fellow intern called Mr Erhardt 'the superstar' of the programme.
He said: 'We typically work 15 hours a day or more and you would not find a harder worker than him.
'He seemed a lovely guy and was very popular with everyone. He was tipped for greatness.'
Mr Erhardt had been living in the Claredale House student accommodation flats in Bethnal Green, East London. The apartments are rented out to hundreds of interns during the summer months.
A friend from one of Mr Erhardt's classes said that he was such a workaholic that he would turn in assignments early because he 'wanted to be the best.'
http://i.dailymail.co.uk/i/pix/2013/08/21/article-2398415-1B620ECB000005DC-822_634x460.jpg Work experience: Student Moritz Erhardt, pictured in front of St Paul's Cathedral, was working as an intern in London
http://i.dailymail.co.uk/i/pix/2013/08/21/article-2398415-1B620ED4000005DC-532_306x423.jpg
http://i.dailymail.co.uk/i/pix/2013/08/21/article-2398415-1B620EE8000005DC-517_306x423.jpg
Dedicated: Moritz Erhardt, pictured taking time out of work (left), was an ambitious 21-year-old
The female friend, who was in his strategy class at the Ross School of Management, also revealed that he was a 'night owl' who was used to staying up late studying.
She said: 'He was always asking questions of the teachers to stay ahead of his work. He was always presenting his work early, handing in his projects ahead of time.'
The friend added: 'He was just a hard worker. He wanted to be the best.
'I don't know what happened in that situation... maybe the situation got the better of him.
'He would work very late in college, I don't know if that lifestyle was hard for his body. He would stay up late at night and he was a night owl. He liked to sleep in.'
Another poster on the wallstreetoasis.com site added: 'It is absolutely true – he was found dead in the shower by his flatmate. Intern at BAML who went home at 6am three days in a row.'
On Friday, staff at the Claredale complex issued a statement to residents, part of which read: 'Some of you might be aware that the emergency services were called to Claredale yesterday evening.
'The reason for this is that we were made aware of an incident involving one of our residents. Sadly the resident concerned had passed away.
'To avoid any rumours or misinformation, we would like to inform you all that there were no suspicious circumstances surrounding the death.'
In recent years interns have told of working long hours at investment banks.
http://i.dailymail.co.uk/i/pix/2013/08/19/article-2397527-1B5F2D24000005DC-767_634x414.jpg Long hours: Mr Erhardt was near the end of his seven-week summer internship with Bank of America Merrill Lynch International in London when he died
One 20-year-old told London's Evening Standard in 2011 that 'you work whatever hours you're asked to.'
He added: 'Every intern's worst nightmare is what's called "the Magic Roundabout" – which is when you get a taxi to drive you home at 7am and then it waits for you while you shower and change and then takes you back to the office.'
Another 24-year-old told the same newspaper: 'About 100 hours a week was the minimum and the average was probably 110. I worked six-and-a-half days a week.'
http://i.dailymail.co.uk/i/pix/2013/08/19/article-2397527-1B5F4ED5000005DC-308_634x400.jpg Summer stay: Mr Erhardt, from Germany, had been staying at Claredale House in Bethnal Green, London, during his internship
A source at Merrill Lynch said Mr Erhardt had completed previous internships at other investment banks but could not confirm or deny claims he had worked exceptionally long hours.
However he insisted staff are given both 'mentors' and 'buddies' when they join the firm and are monitored by staff from the human resources department.
The source added Mr Erhardt was very well-liked by members of staff and there will now be a post mortem examination and inquest into his death.
A statement from BAML said: 'We are deeply shocked and saddened by the news of Moritz Erhardt's death.
'He was popular amongst his peers and was a highly diligent intern at our company with a promising future.
'Our first thoughts are with his family and we send our condolences to them at this difficult time.'
Read more: http://www.dailymail.co.uk/news/arti...#ixzz2cYpe7uU1 (http://www.dailymail.co.uk/news/article-2398415/Moritz-Erhardt-dies-High-flying-bank-intern-died-working-crazy-hours-written-huge-pressure-succeed.html#ixzz2cYpe7uU1)
Follow us: @MailOnline on Twitter (http://ec.tynt.com/b/rw?id=bBOTTqvd0r3Pooab7jrHcU&u=MailOnline) | DailyMail on Facebook (http://ec.tynt.com/b/rf?id=bBOTTqvd0r3Pooab7jrHcU&u=DailyMail)
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?160485-There-is-no-limit-to-being-competitive-It-starts-from-PSLE&goto=newpost).