fter the 2008 economic crash, many financial institutions pulled back the reins on the budget of their annual year-end lavish soirees. Considering the taxpayer bailout and the public outrage at the industry, it was frowned upon to openly celebrate on Wall Street. Some institutions even canceled their planned gatherings altogether. In recent years, however, the holiday party is making a comeback. And it’s the time of year when the rumors and ghosts from Christmas Past usually surface after a few cocktails. We see vice presidents and assistants making out in the corners, people saying things they’ll regret in the morning, and bonus figures dancing in people’s heads. Ah yes... ‘Tis the season. But unfortunately, the holiday party offers a high-risk and low-reward scenario. In 1996, when I worked at Morgan Stanley, our holiday party was held at Au Bar in Midtown Manhattan. The darkly lit basement screamed chic and swanky... But it couldn’t hide the hints of Drakkar Noir in the air. I was in my third year on Wall Street, the equivalent to a sophomore in high school. I was no longer considered the lowest of the low, but I still couldn’t rap about nursery school admissions, mortgages, and luxury vacations. Still, I wanted to be that cool sophomore. The one who makes the varsity team, dates an upperclassman, and gets invited to senior parties. So the holiday party was a big night for me... I wanted to show off my weekend charm, dance moves, and swagger. Plus, I had few real skills other than networking, so
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WALL STREET CELEBRATIONS ARE BACK... BUT DON’T MAKE THESE SEVEN MISTAKES.
American Consequences 37
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