"You're only doing it for up to 10 weeks so there's a general acceptance of it. I see many people wandering around, blurry-eyed and drinking caffeine to get through but people don't complain because the potential rewards are so great. We're competing for some very well-paid jobs."
Another intern living at Claredale claimed that Erhardt, who had been earning 2700 ($5343) a month, collapsed from exhaustion.
"He apparently pulled eight all-nighters in two weeks. They get you working crazy hours and maybe it was just too much for him in the end."
Users of the popular finance blog wallstreetoasis.com insisted Erhardt regularly worked long hours, with his final three days consisting of 21-hour stints in the office.
The bank said it could not comment on the claims about Erhardt's hours.
FinanceInterns, a careers advice group, condemned the City's long-hours culture.
"Young people who jubilantly accept a summer internship thinking they've landed a chance at their dream job find themselves declaring that what should have been a summer full of hope is in fact the 'worst three months' of their lives due to all-nighters, weekend work and the magic roundabout.
"In the toughest job market experienced in recent times, competition is even higher. Consequently these talented, diligent, young people are ever more willing to work hours which more senior staff would not."
- Independent