How do MD's find the time to have so many kids?
For some reason, most of the MDs I meet have 2-5 kids and they're even paying private school tuition fees. Only way I see possible outside of the 70-90 hour work weeks (including travel though that has reduced since COVID) is on vacation. But at the same time, I'm guessing they would also be pretty tired so I still don't understand how.
Wow the human instinct of reproduction is too powerful.
It just takes 5 minutes
*5 seconds my man
Haha, under most circumstances, it does not take all that long to get a woman pregnant. May be your focus is mostly on raising kids in the context of MDs working long hours. Their wives probably do not work and/or they hire a nanny. If the MD works 70-90 hours, he or she is probably not very involved in raising the kids.
yeah that's what I meant lol.
The vast majority of MDs aren't working 70-90 hours a week
Everyone VP+ in my group works until 6, goes home, has dinner with family, puts kids to bed. Then logs back in for a few hours if needed
On weekends, wake up early Saturday to spend a few hours working. Then spend rest of the day and Sunday with family and log back in Sunday night if needed to finish anything still outstanding.
Where possible, schedule meetings in early afternoon or morning when traveling so you can get home before kids go to bed. You just kind of have to accept that some clients will be unhappy that you're not available to meet from 6-9pm (or whatever time you have carved out) and need a wife that's understanding if you have to travel 3 days out of 5 most weeks.
wow ok that's a bit different perspective because everyone always says that while the hours reduce as you go more senior in IB, the hours aren't that good and you are expected to be on-call even on a Saturday evening.
Also when you say "VP+" do you mean everyone senior INCLUDING VP's or everyone ABOVE the vp's?
The above was meant to include VPs.
If you work 8am - 6pm and then log back in from 9pm-12am on weekdays, and then spend a few hours in the morning or evening on Saturday/Sunday, that already gets you to 70+ hours but that's on the extreme end for a senior.
Not sure where you heard that MDs are expected to be on-call on a Saturday evening but the clients themselves don't want to be working on the weekend so not sure why an MD would need to sit around waiting for a call.
Honestly, our analysts only average 70-80 hours a week so not exactly unreasonable for a VP to average 60 and an MD to average 50.
That's not how client services works lol. Dinners are very common between the client and banker.
I think anyone with a shred of common sense would be able to figure out that the above only applies for nights where you're not taking a client to dinner...
And that might be once a week.
3 days is 72 hours (assuming they stay the night) and most definitely the MD is working some on the other 4 days of the week. You can argue that the MD isn't working while he's sleeping but the point is he isn't at home with his family or playing with his kid so I would assign it as work. 70-90 hours isn't that unrealistic once you look at it that way.
I'm not sure why you're arguing about this when you've clearly never worked a day in banking in your life.
Unless you're going to SF or going to the same place location for multiple days in a row, there's really no need to do more than a day trip for 90% of travel. Most of the time, the schedule can be arranged so that you're back in time to put your kids to bed.
Well, some of them might be MDs (or at least still MDs well past otherwise being able to retire without kids) because they have multiple kids and private school tuitions...
They don't actually parent or spend time with them. Rich guy has lots of kids,throws money at anything life has to offer, tale as old as time bro move on
give me two and a half minutes...maybe even four....................
FYI, a lot of 7-figure type of salaries require this sacrifice with family.
From personal observations, their kids tend to grow up more independently and self sufficient. I can't think of a single wealthy family where the kids aren't able to be independent and at least are passionate/determined in their career paths (maybe not high paying but they advance pretty far in their career of choice - arts, media, finance etc).
I've seen it go both ways (just from personal observation). Either the kids are stellar and successful in their own right, or complete screw ups with no future. I haven't seen an in between, but that's not a huge sample size on my part.
Et necessitatibus fuga adipisci fuga praesentium voluptas. Optio nam natus eos culpa accusantium. Qui ipsam natus aspernatur recusandae fuga alias at.
Ut eligendi aut illum id molestias impedit est. Tenetur doloremque libero dolor placeat voluptates est facere. Earum sequi nostrum aut impedit molestias aperiam dolorum. Aperiam et ipsam tempora.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...