Bank of America Intern Dies After Reportedly Working Three Straight Days With Little Sleep
A 21-year-old intern at Bank of America has died after he reportedly worked three back-to-back shifts of nearly 24 hours each. Moritz Erhardt, a recent German exchange student at Michigan’s Ross School of Business, had one week left of his internship at Bank of America’s London office. Last week, a roommate found him dead in the shower.
A spokesman for the company said a coroner is investigating the cause of death. Police say there were no suspicious circumstances surrounding his death.
A fellow intern reportedly described Erhardt as a “superstar” who worked very hard.
Bank of America released the following statement: “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.”
Fox Business Network’s Charlie Gasparino reported other firms have acknowledged that there is an unofficial “hazing” policy where interns work around the clock at these companies. He said there is nothing forcing people to work for 72 hours without sleep, but added, “there’s nothing tell them not to.”
Gasparino said Goldman Sachs is now rethinking their own policy as a result of this news. He also noted that interns are paid as much as $100,000 dollars a year, but warned, “It’s not worth your life when you’re working around the clock.”