Discover your dream Career
For Recruiters

"I work in banking. I am frugal, and thankful"

I work in banking, but I am not a high earner. I work in a role where I have access to the front office but am paid far less. From this vantage point, I can see the lifestyles of the high spenders in the front office who are complaining they can't afford themselves.

I have seen these people up close. I know how much they spend and I know why they spend it. One of my previous bosses had multiple ex-wives to support and a massive mortgage to pay. He'd chosen that lifestyle and if he can't afford it, that's his choice. There's only so much food one person can eat.  

Get Morning Coffee  in your inbox. Sign up here.

Personally, I prefer to live differently. I don't earn those huge amounts of money and I don't need them. I live in a very modest house. I'm not married and I don't have kids. I keep my liabilities low and potential liabilities low. 

 

My plan is to keep working at a steady pace in my moderately paid and comparatively undemanding technology job, to slowly pay down my mortgage and then to retire young, rent my house and live somewhere hot with my boyfriend. Life is short; there's no need to over-spend or show-off. Use it wisely and you won't need that much money. If MDs in banking can't afford their lives, they're doing something wrong. 

Rati Patil is the pseudonym of a person in banking, but not in banking 

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHORRati Patil Insider Comment
  • Ge
    Geraklit
    24 November 2023

    Someone chooses to live the life rather than been a fruit


  • Hu
    Huggy Bear
    24 November 2023

    Same here. Have worked in trading & banking in NYC and NJ for nearly 40 years. Lived within my means because this business is very cyclical. I have 2 grown children, a modest home, college tuition, cars (not BMW or Mercedes) are all paid for. I don't need to show off. I sleep well. Great article.

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Carisbrook Partners
G10 STIR FX Trader
Carisbrook Partners
London, United Kingdom
Investment Manager / Associate - Private Equity
C C Consortium Management Limited
London, United Kingdom
Edgworth Partners
Private Equity Associate - Direct Lending Fund
Edgworth Partners
London, United Kingdom
Edgworth Partners
Hedge Fund Research Analyst - Asset Management
Edgworth Partners
London, United Kingdom

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.