Industry season four exposes the Faustian bargain of modern work culture
When Industry first aired in 2020 it seemed, ostensibly, to be a drama about a recent cohort of ambitious young graduates entering the cut-throat world of investment banking. But as the opening season unfolded and its central characters were established, it became clear that although the trading floor of the fictional-but-all-so-familiar Pierpoint and Co. was its setting, this was not just a show about finance.
In 2021, I had the opportunity to speak to the show’s co-writers and creators, Mickey Down and Konrad Kay. In this conversation, Down described the show as “a universal take on workplace culture”, which, he explained, was why they gave it such a generic title.
For the first time, a television drama was treating contemporary corporate cultures and graduate work with an unprecedented seriousness, sensibility and insight. It managed to capture, in heightened form, pressures that are recognisable far beyond the world of the trading floor and the corporate boardroom.
Indeed, Industry is about work, and how central work has come to all facets of our lives. As it heads into its fourth season and beyond the trading floor, the show is set to expose the all consuming nature of work more than ever before.
Industry was, and remains, a show about how work has become more than a mere site of economic activity. For some people, work is the main arena in which a person’s self-worth is awarded or withdrawn. In this, ambition is sharpened into pathological obsession and the employment contract contains a Faustian logic where total submission to work will be answered with “more” – more money, more power, more life.
In its fourth season, Industry continues to capture the tragic underbelly of modern professional life. The tone is set in the opening episode by Harper Stern, the series’ most vivid engine of ruthless ambition.
Early on she announces: “The story of our lives – giving everything to something that kills you.” If the previous seasons are anything to go by, this line works as a verdict not only on her, but on the entire grammar of contemporary professional life.
With Pierpoint collapsing in the finale of season three, the pathology of work that Industry has shed a light on is definitively revealed as a universal issue – the trading floor was simply its first and most visible stage. As the workplace drama grows outward beyond the office, the conditions of competition, appraisal, self-preservation and self-assertion are set to be revealed as something even more totalising.
In episode one, Harper is introduced on her 30th birthday as heading her own fund. By episode two, she has already alienated her investors. And, by episode three, she is starting again – back alongside her old Pierpoint mentor, Eric Tao, pitching a new venture to investors.
Harper may be an extreme case, but she shows, in concentrated form, what a constantly changing and increasingly insecure job market: the imperative of perpetual reinvention and self-assertion to gain and maintain employment. These characters and real world workers do all of this in the pursuit of a future that is always promised and never quite possessed.
Indeed, a dark irony and dramatic tension in Industry is that it so often places its characters near power – money, titles, access, invitations – only to show how little control they possess.
For instance, the two remaining characters from the first season have risen in status: Harper begins season four as head of an asset management fund and Yasmin is now tied to the peerage through her marriage to Sir Reginald Henry Ferrers de Chartley Norton Muck, the failed green-tech prince of season three.
However, they remain perpetually devoured by the same forces that shaped their self-destructive trajectories (and relationship) from the beginning. The difference now is that these forces have extended beyond the office and have spilled over into the intoxicating worlds of politics, start-ups, high-finance, aristocracy and celebrity.
The spilling over of work culure is most clear in episode two where Harper attends a birthday party hosted by Yasmin. As ever, the lines between work and play, networking and socialising, intimacy and leverage blur into a heady mix of debauchery, embarrassment and new business opportunities.
Only those who refuse to keep any part of life separate from the job are set to gain: “It starts and ends with work. And being proven fucking right”, Harper tells Eric in episode three.
Season four will likely be bigger and glossier but also the bleakest yet: more wealth, more ambition, more politics, and more reputational warfare. But, more subtly, we can expect Industry to reveal more of what has been its deepest cruelty and deepest truth from the beginning: that for so many, life no longer interrupts work – life is work.
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Peter Watt does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.