HYDERABAD: Is it the pressure of ‘having it all’ that is taking a toll on IT professionals in the city? With two incidents of techies committing suicide reported in the last one week from the Gachibowli IT Corridor, questions are being raised on what’s going wrong. While some dismiss the case pointing towards the huge population of techies who have made Hitec city their home, some others do not shy away from admitting that techies owing to their peculiar work culture and lifestyle often fall prey to acute depression.

Speaking about the two latest cases, Gachibowli police inspector J Ramesh Kumar says that it is family issues that drive individuals to end their lives. According to him, a major chunk of the IT professionals are those who join companies straight after finishing graduation and fumble at the first sight of a problem.

“The reasons can be as bizarre as possible. In one of the cases, an IT employee had committed suicide because her sister asked her to put a lid on her injudicious talking habits as the sister believed it did not suit a woman. The techie couldn’t take it and ended life,” said the inspector.

Seconding the argument, Bharini Kumar Aroll, secretary of Society for Cyberabad Security Council, pointed out that most techies are alien to local culture, and language. “Many of them have no friends to share their problems.

Not Suicide but Stress related

SAP India head dies after heart attack

Mini Tejaswi Joseph & Reeba Zachariah | TNN | Oct 22, 2009, 01.27 AM IST

BANGALORE/MUMBAI: Ranjan Das, CEO and MD of SAP for the Indian subcontinent region, died after a massive cardiac arrest in Mumbai on Wednesday. It is learnt that he collapsed at his home in Raheja Bay, Bandra, after returning from the building's in-house gym on Wednesday morning. He was rushed to Lilavati Hospital.

The funeral will be held on Thursday afternoon. The 42-year-old Das was the youngest CEO of a multinational corporation in the country.

The Most High Profile Executive Suicides Of Recent Years

Erin Fuchs

Aug. 28, 2012, 7:08 PM
50,619
10

Mark Madoff

News emerged last week linking a Deloittepartner's suicide to the Standard Chartered scandal.

Daniel Pirron had reportedly warned his daughters of "big trouble" ahead related to accusations that Deloitte had helped Standard Chartered hide shady transactions from regulators.

Sadly, Pirron's suicide is not unique.

In recent years, several high-profile executives plagued by scandal have killed themselves or attempted suicide, from ex-Enron executive J. Clifford Baxter to Mark Madoff, the son of the most infamous Ponzi schemer since Ponzi himself.

The Most High Profile Executive Suicides Of Recent Years

Erin Fuchs

Aug. 28, 2012, 7:08 PM
50,619
10

Mark Madoff

News emerged last week linking a Deloittepartner's suicide to the Standard Chartered scandal.

Daniel Pirron had reportedly warned his daughters of "big trouble" ahead related to accusations that Deloitte had helped Standard Chartered hide shady transactions from regulators.

Sadly, Pirron's suicide is not unique.

Suicide Among Bankers Appears To Be On The Rise Again As Pressures To Get Banks And Businesses Back In The Black Takes Its Toll

BY CHRISTOPHER HARRESS @CHARRESS ON 09/04/13 AT 8:54 AM

Last Monday in the small, idyllic town of Zug, Switzerland, just about 35 km (22 miles) south of Zurich, banker Pierre Wauthier, 53, penned what would be his final words. S

s.hortly afte

r that, he killed himself.

The full contents of the note are unknown, but as his family later revealed, it did contain an accusation that apparently forced the resignation of Wauthier’s boss, Josef Ackermann, and may cause waves across the entire Swiss corporate and banking sector.

Wauthier’s death focuses a spotlight on the strains and pressures that working in the corporate environment can bring. Only two months earlier, the body of Swisscom's CEO, Carsten Schloter, was found at his Freiburg home in what officials deemed a suicide. His depression allegedly resulted from his over-reliance on his smartphone, which left him feeling isolated, something he had spoken about in interviews.

This is not the first time that banks and corporations have seen a spate of suicides. In early 2009, just after the start of the financial crisis, billionaire Adolf Merckle lay down in front of an oncoming train after bad business deals threatened his family business. Steven Good, a Chicago businessman, killed himself inside his Jaguar after his property auction business floundered. And then there was René-Thierry Magon de La Villehuchet, who took sleeping pills and slit his wrists after losing $1.4 billion in the Bernie Madoff scandal. One of Madoff's sons also took his own life.

But the downturn in the financial services world didn’t affect only those at the top of large businesses. On 2010, Jessica Fashano, a 27-year-old Citibank investment associate, went to the top of Trump Tower in New York and jumped off after suffering work-related depression. London-based Michael Burdin jumped in front of a train after being forced out of his trading job with Bank of America in July 2013. And in October 2012 investment banker Nico Lambrechts became the third banker to jump from the same restaurant roof in London in the past three years.

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Historically, bankers have been stereotyped as the most likely to commit suicide. This has a lot to do with the famous 1929 stock market crash, which resulted in 1,616 banks failing and more than 20,000 businesses going bankrupt. The number of bankers committing suicide directly after the crash is thought to have been only around 20, with another 100 people connected to the financial industry dying at their own hand within the year.

In a cutthroat industry staffed by many of the world's sharpest minds, recruited from hypercompetitive business schools, it seems no surprise that the shame of failure is hard to take when an individual’s whole identity is built around success.

In places like Japan where a patriarchal society still dominates, failure in business has been the main driver of suicide rates. For example, out of 2,207 work-related suicides in 2007, the most common reason (cited in 672 cases) was overwork.In the middle class, suicide rates rise with unemployment, when people become anxious about their jobs and being a provider for their families, while their identity isn’t necessarily attached to their wealth in the same way a banker's can be.

Former Zurich Insurance CEO Martin Senn Commits Suicide

Senn stepped down last December after a difficult period for the company

Then-Zurich Insurance Chief Executive Martin Senn at the company's annual news conference in Zurich, Switzerland, in February 2015. Mr. Senn, who stepped aside in December, committed suicide, the company said Monday. PHOTO: ARND WIEGMANN/REUTERS

Martin Senn, former chief executive of Zurich Insurance Group AG who stepped aside in December, has killed himself, the company said—the second suicide by a onetime top manager at the company in the past few years.

Mr. Senn’s death at age 59 follows the suicide of former Zurich Insurance Chief Financial Officer Pierre Wauthier in 2013. An internal probe at the insurer, conducted under the supervision of Switzerland’s financial regulator, later cleared company leaders of placing an inappropriate amount of stress on Mr. Wauthier.

During the company’s annual meeting in early 2014, Mr. Senn said that, “The grief and shock we experienced at the suicide of our colleague Pierre Wauthier was enormous.”

Mr. Senn’s exit from Zurich Insurance capped a difficult period for the company. At the time, Mr. Senn cited Zurich Insurance’s difficulties in revamping its largest business and its failure to seal an ambitious acquisition of U.K.-based RSA Insurance Group PLC.

Is there a suicide contagion on Wall Street?

by
Jen Wieczner

@jenwieczner

FEBRUARY 27, 2014, 10:00 AM EDT

A series of untimely deaths at J.P. Morgan Chase and other banks has left observers wondering if there are more to come.

A few days ago, a Wall Street executive was debating whether he could get away from the office long enough to see his shrink uptown. In the midst of a busy workday, it was looking unlikely. Then he stumbled across an article in the New York Post with the disquieting news that a J.P. Morgan Chase JPM -1.78% employee had jumped to his death from the bank’s offices in Hong Kong, just three weeks after a fellow banker at the firm had committed suicide by jumping off the roof of the bank’s London headquarters. “JPMorgan suicide is 3rd mysterious death in weeks,” read the Post headline.

The executive went to his appointment. “He said, ‘That’s what drove me into your office today, I want to make sure that I’m all right,’” says Alden Cass, the psychologist who treats the executive, as well as a bunch of clients who are portfolio managers, investment bankers, and traders of all types.

The rash of suicides has sent a shudder through Wall Street and beyond. The third death referenced by thePost—that of a J.P. Morgan executive director who died inside his Connecticut home in January—did not appear to be intentional. (A report is still pending.) Yet the J.P. Morgan incidents are only the most recent in a string of at least a half-dozen suicides in the financial world since late August. Those include executives at Zurich Insurance Group ZURVY 0.02% , Deutsche Bank DB -2.74% , and Russell Investments, among other firms.

Banker suicides aren’t a new phenomenon. Clusters of them in quick succession occurred during the Great Depression and during the recent Great Recession. Indeed, research has shown that suicides can be contagious, so to speak. That is particularly true when graphic and sensational reports of the fatalities lead to copycats, according to the American Association of Suicidology. So the recent untimely deaths have sparked concerns that there could be more on the way. J.P. Morgan spokesman Joe Evangelisti says the company has sent notices reminding employees that 24/7 mental health-related support resources are available at the bank, and that its hearts go out to the families of the deceased.

But with each new wave of suicides come questions about whether the deaths signify a disturbing trend: Is finance a potentially deadly occupation? That is, do bankers kill themselves more often than other people?

To find out, Fortune asked the Centers for Disease Control and Prevention to pull the latest suicide statistics from its National Occupational Mortality Surveillance database. During 1999, 2003, 2004, and 2007—the most recent years during which research was funded and for which data is available—there were 329 suicides among financial specialists, more than in any other occupation tracked by the CDC except for the broad grouping of “engineers and scientists,” a cohort that lost 502 to suicide.

Finance, however, is a vast profession, and while the total number of finance professionals who commit suicide may be larger than for some other professions, they are actually less likely to do so than, say, lawyers or firefighters.

Take J.P. Morgan as an example: At a bank with more than 260,000 employees around the globe, a pair of suicides may seem shocking and random but the figure is, in fact, well within the range of statistical probability. Two might even be a low number. “You would expect that when people work these long hours,” says Alexandra Michel, a former Goldman Sachs GS -2.27% investment banker turned management professor at the University of Pennsylvania who for 12 years has been tracking the performance and health of a group of Wall Street recruits at two banks (she can’t say which) in an ongoing study. “You would think that it would happen much more often.”

A close examination of the CDC data does reveal a worrisome connection between certain types of financial jobs and an elevated risk of suicide. The CDC organizes its mortality numbers by census categories, which can be pretty broad. The Wall Street-oriented classification is “sales representatives for financial and business services”—a category that includes a variety of banking positions, ranging from investment advisers to brokers to traders to investment bankers. People in that group are 39% more likely to kill themselves than the workforce as a whole. (Members of some other white-collar professions are at even greater risk: Lawyers are 54% more likely than average to commit suicide, and physicians are 97% more likely.)

Within finance, observers say that investment bankers are often under the most acute mental stress. “Out of all the sections of finance, no position do I know of that’s more extreme in terms of the emotional endurance one has to have than investment banking,” says Cass, the psychologist who is also the co-author ofBullish Thinking: The Advisor’s Guide to Surviving and Thriving on Wall Street.

It’s a syndrome Michel has also observed while shadowing investment bankers over the years. After her subjects had worked at a bank for four years on average, she began observing signs of sleeplessness, anxiety, and depression: “I could see how people came in chatting happily on the phone with friends, how that became less and less,” she says. “People became completely absorbed in the office, in work. Some are feeling trapped.”

J.P. Morgan says the two employees who committed suicide weren’t investment bankers, per se. According to their LinkedIn LNKD -1.05% profiles, Gabriel Magee was a vice president overseeing technology for fixed-income securities in the London office, and Dennis Li was an associate in the billing department supporting the investment bank.

But the high-stakes world of Wall Street has become a more stressful work environment across the board. The 2008 economic crisis and subsequent recession have exacerbated the problem, says Cass, especially now that the new reality of smaller bonus checks, regular layoffs, and heightened regulation has sunk in. While those factors have impacted many professions, Cass says, “In investment banking, it becomes a weed-out process—who can take it and who can’t?”

Cass has noticed the scrutiny weighing on his clients. The anxiety has trickled down from bosses and pervaded the culture, he says, with bankers kept in a “fear position,” worrying constantly about keeping their jobs—or worse, facing criminal charges.

A CDC analysis of suicides by occupation for 2008 and beyond won’t be ready until 2015. But the government agency recently reported an alarming increase in suicides between 1999 and 2010 among Americans old enough to be at the peak of their careers or well-established in the C-suite. Suicides among 35- to 64-year-olds rose 28%, with even larger increases among white people (40%) and those over 50 (more than 48%).

While it’s not fair, warns Cass, to point blame at any one firm or the industry itself, he sees the increased pressure to avoid mistakes as taking its toll on bankers. “Obviously it’s good for the collective health of our financial security in the long run,” he says. For the near term, his clients are keeping their appointments.

Suicide in India

About 800000 people commit suicide worldwide every year,^[2] of these 135,000 (17%) are residents of India,^[3] a nation with 17.5% of world population. Between 1987 and 2007, the suicide rate increased from 7.9 to 10.3 per 100,000,^[4] with higher suicide rates in southern and eastern states of India.^[5] In 2012, Tamil Nadu (12.5% of all suicides), Maharashtra (11.9%) and West Bengal (11.0%) had the highest proportion of suicides.^[3] Among large population states, Tamil Nadu and Kerala had the highest suicide rates per 100,000 people in 2012. The male to female suicide ratio has been about 2:1.^[3]

Estimates for number of suicides in India vary. For example, one study projected 187,000 suicides in India in 2010,^[6] while official data by the Government of India claims 134,600 suicides in 2010.^[3]

According to WHO data, the age standardized suicide rate in India is 16.4 per 100,000 for women (6th highest in the world) and 25.8 for men (ranking 22th).^[7]

Causes for suicide in India In 2014^[9]
Causes	No of people
Bankruptcy or indebtedness	2,308
Marriage Related Issues	6,773
Non Settlement of Marriage	1,096
Dowry Related Issues	2,261
Extra Marital affairs	476
Divorce	333
Others	2,607
Failure in Examination	2,403
Impotency/Infertility	332
Other Family problems	28,602
Illness	23,746
AIDS/STD	233
Cancer	582
Paralysis	408
Insanity/Mental illness	7,104
Other prolonged illness	15,419
Death of dear person	981
Drug abuse/addiction	3,647
Fall in social reputation	490
Ideological causes/Hero worshipping	56
Love affairs	4,168
Poverty	1,699
Unemployment	2,207
Property dispute	1,067
Suspected/Illicit relation	458

Regional trends[edit]

The southern states of Kerala, Karnataka, Andhra Pradesh and Tamil Nadu along with eastern state of West Bengal, Tripura and Mizoram have a suicide rate of greater than 16 while in the Northern States of Punjab, Uttar Pradesh and Bihar, the suicide rate is less than 4.^[3] Puducherry reported the highest suicide rate at 36.8 per 100,000 people, followed by Sikkim, Tamil Nadu and Kerala. The lowest suicide rates were reported in Bihar (0.8 per 100,000), followed by Nagaland, then Manipur.^[8]

Age and suicide in India[edit]

In India, about 46,000 suicides occurred each in 15-29 and 30-44 age groups in 2012 - or about 34% each of all suicides.^[3]

Suicide in cities[edit]

There were 19,120 suicides in India's largest 53 cities. In the year 2012, Chennai reported the highest total number of suicides at 2,183, followed by Bengaluru (1,989), Delhi (1,397) and Mumbai (1,296). Jabalpur (Madhya Pradesh) followed by Kollam (Kerala) reported the highest rate of suicides 45.1 and 40.5 per 100,000 people respectively, about 4 times higher than national average rate.^[8] There is a wide variation in suicide rates, year to year, among Indian cities.

Gender[edit]

On average, males suicide rate is twice that of females in India.^[10] However, there is a wide variation in this ratio at the regional level. West Bengal reported 6,277 female suicides, the highest amongst all states of India, and a ratio of male to female suicides at 4:3.^[8]

Dynamics[edit]

Domestic violence and suicide in India[edit]

Further information: Domestic violence in India

Domestic violence is a major risk factor for suicide in a study in Bangalore.^[11]^[12] However, as a fraction of total suicides, violence against women - such as domestic violence, rape, incest and dowry - accounted for less than 4% of total suicides.^[3]

Suicide motivated by politics[edit]

Suicides motivated by ideology doubled between 2006 and 2008.^[5]

Farmer's suicide in India[edit]

Main article: Farmers' suicides in India

India's economy vastly depends on agriculture with around 60% of its people directly or indirectly depend upon it. Different reasons like droughts, lack of better prices, exploitation by Middlemen, inability to pay loans etc. lead a large number of Indian farmers to series of suicide

Suicide in cities[edit]

Gender[edit]

Builder suicide: Policy paralysis, corruption suffocating developers

Housing market in Mumbai Metropolitan Region recording worst half-yearly performance since global financial crisis in 2008 has worsened the situation for them

Raghavendra Kamath | Mumbai October 8, 2015 Last Updated at 14:20 IST

Builder suicide: Policy paralysis, corruption suffocating property developers

ALSO READ
Top builders sitting on 70,000 crore worth of unsold inventoryWhy are investors, buyers shunning real estate?Mumbai realty continues to be lacklustreWill reform bring realty investors back?Indiabulls, developers host property show to boost sales in Gandhinagar

Facing mounting debt and approval delays for his projects, Suraj Parmar, promoter of Thane-based realty group Cosmos, on Wednesday committed suicide.

Kasaradavali police said the 45 year old Parmar had shot himself with a pistol in a so-called sample bungalow in a project he was developing in the area.

Policy paralysis and political interference are rampant in Mumbai and Thane and could soon lead to more developer sucides, warned property developers that Business Standard spoke to.

In his 15-page suicide note, Parmar, who was also president of the Maharashtra Chamber of HousingIndustry, has allegedly cited both of those factors among the reasons for taking his own life.

While Mumbai is home to India's costliest real estate, Thane is the fastest growing residential market in the country.

“Parmar used to fight politicians and officers over corruption but most of us settle the matter and close it, (but) those kind of margins are no more left in real estate to pay politicians and officers," said the managing director of Mumbai based developer. He declined to be identified given the sensitivity of the matter.

Builders, he pointed out, are caught between stagnant sales on one hand, and corruption and delay in approvals on the other.

The housing market in the Mumbai Metropolitan Region has recorded its worst half-yearly performance since the financial crisis of 2008, with sales weakening even as two lakh units remain unsold, according to property consultant Knight Frank. Worse, new housing project launches have fallen by almost half, or 47%, during the first half of the year.

“Politicians and officers are exploiting and squeezing developers. It has become difficult to run the business. Most of the developers are under distress and balance sheets of developers are under stress due to delay in approvals,” said the founder of another large group in Mumbai. This person, too, declined to be identified.

"Like farmer suicides, soon you will hear developer suicides,” he cautioned.

Pranay Vakil, founding chairman of Knight Frank, says there is total confusion in the way the government is coming out with policies.

“Development control rules have lapsed long ago and new set of rules are yet to be announced despite the fact that they are 20 year policies. Developers' interest meter is ticking and nobody likes uncertainty,” he said.

As an illustration, he pointed out that if under the old policy, a developer paid Rs 5 crore for certain development rights, but needs to pay Rs 8 crore under new policy, he is not allowed to set off the Rs 5 crore already paid and instead must pay the full Rs 8 crore.

Raj Travels owner Lalit Sheth commits suicide, debt to blame ...

www.traveltechie.com/...owner...suicide...to.../4757 इस पृष्ठ का अनुवाद करें

02/08/2012 - Lalit Sheth, owner of Raj Travels and pioneer of leisure package tours in ... after Sheth failed to pay dues to HDFC Bank and ICICI Bank too.

Britannica COO jumps to death from 19th floor in Gurugram

PTI New Delhi Last Updated: May 16, 2016 | 16:03 IST

A top executive of Encyclopedia Britannica allegedly committed suicide by jumping from the 19th floor of a building in DLF Phase-III (Gurugram), police said.

47-year-old Vineet Whig, COO of Britannica, committed suicide on Sunday and a note was found from his pocket stating that he was fed up with his life, Hawa Singh, PRO, Gurgaon Police said.

Whig lived in Block-D of DLF Belvedere Park with his wife, two sons, a daughter and his father who suffered a heart attack after receiving the news of Whig's death.

The body was found in the ventilation shaft of Block-C by sweepers when they went to clean it at 9 AM on Sunday.

Harassment: HDFC Bank Employee Commits Suicide

Hundreds Of Suicides In India Linked To Microfinance Organizations

AP

Feb. 24, 2012, 8:18 AM

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MUMBAI, India (AP) — First they were stripped of their utensils, furniture, mobile phones, televisions, ration cards and heirloom gold jewelry. Then, some of them drank pesticide. One woman threw herself in a pond. Another jumped into a well with her children.

Sometimes, the debt collectors watched nearby.

More than 200 poor, debt-ridden residents of Andhra Pradesh killed themselves in late 2010, according to media reports compiled by the government of the south Indian state. The state blamed microfinance companies — which give small loans intended to lift up the very poor — for fueling a frenzy of overindebtedness and then pressuring borrowers so relentlessly that some took their own lives.

The companies, including market leader SKS Microfinance, denied it.

However, internal documents obtained by The Associated Press, as well as interviews with more than a dozen current and former employees, independent researchers and videotaped testimony from the families of the dead, show top SKS officials had information implicating company employees in some of the suicides.

An independent investigation commissioned by the company linked SKS employees to at least seven of the deaths. A second investigation commissioned by an industry umbrella group that probed the role of many microfinance companies did not draw conclusions but pointed to SKS involvement in two more cases that ended in suicide. Neither study has been made public.

Both reports said SKS employees had verbally harassed over-indebted borrowers, forced them to pawn valuable items, incited other borrowers to humiliate them and orchestrated sit-ins outside their homes to publicly shame them. In some cases, the SKS staff physically harassed defaulters, according to the report commissioned by the company. Only in death would the debts be forgiven.

CEO of a prominent MNC commits suicide in Gurgaon

IndiaToday Television | May 16, 2016

Vinit Vij a 47-year-old CEO of a prominent MNC jumped to his death from the 19th floor of the Belvedere Park at Gurgaon's DLF area.

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Suicides of People in high profile jobs(CEO's, IT sector,Entrepreneurs,builders etc)

Two Techie Suicides Within a Week, Is Stress Pushing Them to the Brink?

SAP India head dies after heart attack

The Most High Profile Executive Suicides Of Recent Years

The Most High Profile Executive Suicides Of Recent Years

Suicide Among Bankers Appears To Be On The Rise Again As Pressures To Get Banks And Businesses Back In The Black Takes Its Toll

s.hortly afte

Former Zurich Insurance CEO Martin Senn Commits Suicide

Senn stepped down last December after a difficult period for the company

Is there a suicide contagion on Wall Street?

A series of untimely deaths at J.P. Morgan Chase and other banks has left observers wondering if there are more to come.

Suicide in India

Regional trends[edit]

Age and suicide in India[edit]

Suicide in cities[edit]

Gender[edit]

Dynamics[edit]

Domestic violence and suicide in India[edit]

Suicide motivated by politics[edit]

Farmer's suicide in India[edit]

Suicide in cities[edit]

Gender[edit]

Builder suicide: Policy paralysis, corruption suffocating developers

Housing market in Mumbai Metropolitan Region recording worst half-yearly performance since global financial crisis in 2008 has worsened the situation for them

ALSO READ

Raj Travels owner Lalit Sheth commits suicide, debt to blame ...

Britannica COO jumps to death from 19th floor in Gurugram

Harassment: HDFC Bank Employee Commits Suicide

Hundreds Of Suicides In India Linked To Microfinance Organizations

CEO of a prominent MNC commits suicide in Gurgaon

2 comments:

Who is responsible for a suicide?