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I smiled. “I know you weren’t in favor of adding this position, but that quote actually supports bringing someone on board to help people deal with stress, since everyone processes things differently.”
“Or I could just fire the soft potatoes and keep the hardened eggs.”
I chuckled. “Speaking of which, how is your retention rate with employees?”
“The financial-service industry has one of the highest attrition rates. Ours tends to run a little higher than average.”
“What’s a little higher?”
“Ten to fifteen percent. It’s not a coincidence that our profits also run in tandem with that higher-than-average turnover rate. We’ve been the highest-performing firm three years in a row because I only employ the best.”
“So I take it that means you fire a lot of people?”
Merrick shrugged. “They tend to quit when they can’t keep up.”
I wrote some more notes and then nodded. “Okay. And how many hours would you say your employees work, on average?”
“Most are in by seven and clear out by seven or eight, unless something is going on.”
“Is that every day?”
“Weekdays, when the market is open.”
“Do they work weekends?”
“Usually. But not like weekdays. The analysts tend to work more than the traders on the weekends when it’s quiet. The traders might work half a day on Saturday and then take off until the following evening. They usually start back Sunday night when the international markets begin opening.”
“So twelve to thirteen hours a day, five days a week, and then five to six hours on weekends each day? Does that sound right?”
I did the math as he thought about it and nodded.
“So seventy to eighty hours a week would be the norm?”
He shrugged. “I guess.”
“And what about you?”
“What about me?”
“How many hours do you work?”
“I’m always the first one in and usually one of the last to leave.”
“Can I ask you a personal question?”
“That depends on what it is.”
“Are you married?”
“No.”
“Were you ever?”
Merrick shook his head. “Engaged once. Not anymore.”
“Don’t you find it difficult to maintain a relationship while working that many hours?”
“The divorce rate in this country is fifty-one percent. I think most people find maintaining a relationship difficult, and the majority of them work nine-to-fives. But to answer your question, no. It’s not impossible to have a relationship. Both parties just need to have the right expectations about how much time they’ll have available.” He leaned in. “Here’s the thing about this job—it’s all about expectations. You need to learn how to set them and meet them. The job is not easy. The time commitment is not for everyone. But it’s a choice. And if you can’t hack it? Leave. But don’t sue me on the way out because you couldn’t put in the work.”
