Vacation Days given to analyst, true vacation?

Just curious, but what is the typical amount of vacation days given to an analyst? Are you able to truly get away from the office on these days? Are there any scheduling conflicts since I am sure most people want Xmas and other main vacation times off?

 
Best Response

20 days (4 weeks) is pretty much the bog standard in the industry for vacation days at IB and in consulting as well. You also get off the NYSE trading holidays (I think there are 8 or 10 of them). Potentially you may have some sick or personal days as well, probably 2 personal and 5 sick.

Usually you make a matrix to make sure that someone is on at all times during Xmas and thanksgiving (except day of since those are holidays not vacation days).

Sometimes you get to take your days, sometimes you don't. If you aren't on anything live at the time, the chances are you'll get your days. Also make sure you actually book something once you have your vacation approved, they will have to reimburse you for the trip you booked, which makes them less likely to cancel.

Usually at the end of your first year in August, if you haven't been able to take any days, they will force you to do so. They worry that eventually you will break under the strain. Yes its hard to take a random vacation, so you just have to be flexible and talk with your staffer.

--There are stupid questions, so think first.
 
PowerMonkey:
Usually at the end of your first year in August, if you haven't been able to take any days, they will force you to do so. They worry that eventually you will break under the strain. Yes its hard to take a random vacation, so you just have to be flexible and talk with your staffer.

An analysts should never take all their days at any point in their 2-3 year stint. As for being forced to take days, that is BS as well. Alot of places let analysts take a week vacation at the ned of their first year, but I took a total of 5 vacation days my first year and save for one Friday, everday used was around Thanksgiving, Christmas and Easter. Don't plan on taking any trips for "fun" in your first year.

 

Depends on the bank. JPM has 3 weeks (though not sure if people actually use them all), Citi has 1-2 weeks, Barclays has 2 weeks. This is all for first year.

When you start as an analyst, they usually ask you to put in your anticipated vacation times before you start on your case (that way your staffer will try not to assign you to something that may conflict). Though your plans may fall through if work demands your attention.


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Weekends do not require vacation days. However to make sure that you can use the weekend as part of a vacation, you should book the Friday in front of the weekend, and potentially the monday after if you want to use the weekend. In fact you can't use a vacation day on a weekend or public holiday in most banks systems (since they aren't work days, you just have to work).

--There are stupid questions, so think first.
 

I took five days over my two years. I did get requests to do work during those five days, but I mostly ignored them. Expect that even if you do go on vacation, you'll have to do some work while you're there.

~~~~~~~~~~~ CompBanker

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

All depends on your group culture and deal flow activity - you have to be flexible. The vacations I took as an analyst in IBD were always last minute.

Common sense dictates if and when a vacation is feasible. You don't want to be "that guy" asking for vacation at the wrong time. Actually, you don't want to be "that guy" for anything other than doing your job to the best of your ability. Analyst years are not fun, they are not meant to be.

Bottom line: Worry about vacation after your stint. If your group is cool and a small window opens up, then you might get lucky.

"Jesus, he's like a gremlin; comes with instructions and shit"
 

No, not really.

I was able to maybe jet out a few hours early on Fridays to catch a plane to Vegas, but the occasional Friday half day every here and there was as far as I got in my first couple of years. Even then there was still some resentment that I was leaving early.

If that sounds awful, I can say it wasn't so bad. I was surrounded by people in the same boat (so it's not as though everyone else was flaunting their vacation time in front of me), and when I finally did get to take a real week off, I went all out. Saving and accumulating what would've been spent on vacations over two/three years allows you to make your first one an utter blowout.

 

All offer letters from BB are going to give you two, three, or four weeks of vacation. However, you're not expected (and shouldn't!) take all the vacation days you are, in theory, entitled to. You'll be expected to take a couple of weeks per year (actually it depends on the culture of the bank and the staffing needs of your team) while you're an analyst.

 
martinrvau:

All offer letters from BB are going to give you two, three, or four weeks of vacation. However, you're not expected (and shouldn't!) take all the vacation days you are, in theory, entitled to. You'll be expected to take a couple of weeks per year (actually it depends on the culture of the bank and the staffing needs of your team) while you're an analyst.

Bullshit. Take your fucking days if you're lucky enough to have them on paper. If you're doing well at your job and playing your cards right on the social level no one will care. I'd love for someone to file a wrongful termination suit on this one "I got great performance evaluations but I actually took my stated vacation days and they fired me!".

 

You'll get a feel for the group early on but I wouldn't take a week to go to a tropical destination in your first year. You probably can, however, take a day or two here and there to go to a wedding/bachelor party/etc.

This to all my hatin' folks seeing me getting guac right now..
 

I took 7 or 8 days total my first year, excluding two weekends. Could've probably pushed for more but yeah, it depends on your group. Most people take these vacations days during the summer after their first year.

 

Take them when everything's slow (Summer or end of year) and no one will care. Depending on where you are located, here is a little trick: Go find a doctor that will write you a sick leave note starting the day when you vacation starts and you can legally claim the vacation days back and take them again. Works best in Europe.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

Most groups allow analysts to take a week over the summer after their first year. Generally people don't actually "count" how many vacation days you take against your official tally. Therefore, most analysts are able to leave the firm a couple weeks early at the end of their two years.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

Maybe it's cuz I'm several years out of college now, but I find these types of posts and replies so hilarious. Most of you will burn out before you reached the promised land (if you can even call it that). The smart ones of you will realize it's bullshit and opt for a job that gives you far better hours, still attractive comp, and lets you actually enjoy your life.

All of these jobs are only enjoyable at the upper levels (VP and above), and at least half the people in the upper levels did not start out as analysts.

 
alexpasch:

Maybe it's cuz I'm several years out of college now, but I find these types of posts and replies so hilarious. Most of you will burn out before you reached the promised land (if you can even call it that). The smart ones of you will realize it's bullshit and opt for a job that gives you far better hours, still attractive comp, and lets you actually enjoy your life.

All of these jobs are only enjoyable at the upper levels (VP and above), and at least half the people in the upper levels did not start out as analysts.

I am relieved someone said this.

For all of the tough guys who think not taking your vacation days makes you more legit or something, I hope you take some time to reflect on the sheer uselessness of what it is you're devoting your life to, and then take your girlfriend on a trip somewhere.

Good God.

 

What everyone in this thread is missing is that you still get to take all of your vacation days in banking. Even if you aren't able to take a single day off during your entire two year stint, that just means you take all of your accrued vacation at the end of your two years and you leave the bank a few weeks early. S&T isn't getting some crazy vacation day arbitrage, they just spread their vacation out more than IB analysts do.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 
NorthSider:

What everyone in this thread is missing is that you still get to take all of your vacation days in banking. Even if you aren't able to take a single day off during your entire two year stint, that just means you take all of your accrued vacation at the end of your two years and you leave the bank a few weeks early. S&T isn't getting some crazy vacation day arbitrage, they just spread their vacation out more than IB analysts do.

Actually depends if it rolls over - you get to take a week off at the end of the first year but not all firms have the rollover vaca (and if they do, it expires within the first 3 months)

 
NorthSider:

What everyone in this thread is missing is that you still get to take all of your vacation days in banking. Even if you aren't able to take a single day off during your entire two year stint, that just means you take all of your accrued vacation at the end of your two years and you leave the bank a few weeks early. S&T isn't getting some crazy vacation day arbitrage, they just spread their vacation out more than IB analysts do.

Not actually. My contract specifically limits how many days of vac I can roll over to the next year.

 

"Let me tell you what's required. You are required to work your fucking ass off at this firm. We want winners here, not pikers. A piker walks at the bell. A piker asks how much vacation time you get in the first year. Vacation time? People come and work at this firm for one reason: to become filthy rich. That's it. We're not here to make friends. We're not savin' the fucking manatees here, guys. You want vacation time? Go teach third grade public school." -Boiler Room

Seriously though, not much from what I've heard.

 

My firm has 0 days for the first six months with increasing amounts for each subsequent six month period. However, even then, most people don't use all of them. That being said, we still get some holidays (though there is still a chance we have to work during them).

 
mrbubba:
Some of my friends are getting four weeks. Is it true that the SEC requires sales and trading people to take two weeks of vacation straight?

Yes, it's so compliance can rummage through your desk, e-mail, etc. while you're gone.

 

Associates definitely do take vacation time. They won't be out of the office one week a month or anything crazy, but vacation time is available and utilized.

 

Does anyone ever really take vacation? I finally took a full week of this year and I was still getting pinged every 3 minutes. Crossing my fingers this whole RIM thing goes the other way and Blackberry goes out of business. That would be beautiful

 

If you want holidays then F500 is the way to go! When you sign IBD, you are on call 24-7 with most banks. Grind hard and don't plan on ski trips until you make VP.

 
 

depends on location, in europe we got 27days a year to start with, but MDs dont get much more than low 30s. and yes, we take them off, at least 2 weeks during the summer has to be continuous. this is for IBD, but S&T is probably not that much different. I think U.S. is 13 days from what I've heard from our nyc office

 

My contract (IBD London) says 25 days, so that's 5 weeks! but do you really use them? or is it state law to give 25 days but it's employers choice to take them or not? How much vacation do you americans have?

 
EuroMonkey:
If your starting at a BB in London, only expect to get a handful of those 25 days...

As for US, some local spreadsheet junkie may want to confirm but you get 5 days on the contract and there's a good chance you won't take them all.

At boutiques and MM it depends very much on the culture.

You will most definitely use a lot of those 25 days in London (a lot more thant in the US). First of all, most banks require you to take 2 consecutive weeks in the Summer 1) so you don't explode 2) so they can check if you are doing anything illegal

additionally, since all bank holidays in the UK are on Mondays, many people take an extra day on a bank holiday weekend to sneak in long weekend (of course subject to not being smack in the middle of a deal).

Finally, you likley get some time around Christmas.

In New York, I have heard people are getting 4 weeks, but are having trouble using much of it

 
ewout104:
illegal? what is illegal that you can do behind your desk (sorry not so creative) ?

Thanks for the reply, load of my mind.....

Not sure what the hell they look for, but as long as they are giving me two weeks off, they can look for Bin Laden, the people who poisoned the Russian spy, or Britney Spears' virginity.

All fine by me.

 

I thought the whole 2 consecutive week off thing was just for traders and salespeople so their books could be checked for anything illegal? This applies to banking too?

 

I'd say that's the case. Some banks in London do offer 20 days (think this is legal minimum on contract) for new starters when others offer 25.

I was able to take most of my hols but know a bunch of people who were well short.

You also hear of others working 200-300 days in a row, but not sure how much truth there is in those claims!

 

I'm in S&T so I can't speak for IBD, but I get standard 4 weeks, accruing at equal amounts of 1.67 each month. As far as usage, I've felt no pressure so far againt scheduling some days. Actually just the opposite. Given that I graduated in December, started in January and will be attending training in August, it was suggested by HR themselves that I take some time off before the summer.

 

In my analyst class I don't think anyone really took a day off in their first 6 months. Maybe scattered days here and there for personal reasons. I left 1 weekend for a wedding but my "vacation" was only around 18 hours, other than that no time off.

After your first year it gets a lot easier to take time off - at some banks senior people actually encourage analysts to take a vacation after their first year finishes up. Well, maybe not encourage, but it's customary for analysts to do so, at least in some groups/banks.

Basically, though, your life is going to be very painful for the first six months. It does get better though, if that's any consolation.

 

They will allow you to book it in most places as long as there is a minimum number of people on call. We did our holiday trading up front, ie I'll stick around for thanksgiving and get a few days around both Christmas and New Years. At the same time, I was on my laptop for half the vacation, but I wasn't in the office.

There were people at all levels in the office, some because they were on call, some because of deals. Unlike most times, people don't want to be there and in some ways don't want you there. So, you get a little bit of a break with the days being a bit more like weekends.

--There are stupid questions, so think first.
 

I took about 8 days total my first year, but I wouldn't recommend taking any until the end of summer/ beginning of fall, when deal flow generally slows down

 

If they told you that at a presentation than its probably a load of shit. I don't you know if you've figured it out yet but they tell you what they have to in order to get you interested. And then when you find out its not true, its already too late and you stay for the money.

 

at JPM you get 4 weeks, but obviously you really can't take nearly that much time. As a 1st year you can take a day off here and there, and maybe a little more time around the holidays. Its really the summer after where you can think about taking a more substantial break.

 

Totally agree with the point about waiting until that first bonus check hits the bank. At that point you're no longer the low man on the totem pole.

Unfortunately, despite the official party line of getting 3 (or 4, or whatever) weeks' paid vacation, there tends to be tremendous peer pressure for analysts to stay put when it comes to taking vacation (even if there is NOTHING going on). That said, if you're lucky enough to be in a group with reasonable people, take the time when you can get it, and don't apologize for it. Make the effort to accommodate other people when they take off, and they usually will return the favor. We're all in the same boat....

 

Doctor's appointments are typically handled between you and your manager. At lot of firms have an in-house doctor or nurse practitioner.

Typically as an analyst, you don't get to take vacation time for your first six months to one year. After that, it generally goes to 3 weeks/year as an Analyst, typically scaling to 4 when you hit Associate or VP 2-4 years later.

 

What about summer analysts? In London we get 4-5 days off. Is it frowned upon to make use of these days? I'm asking because my semester abroad starts before my internship ends, so it would be awesome if I could take off a couple of days at the end of the internships. Probably won't make use of it though, because I don't want to ruin my chances at an offer. Or are these vacation days mandatory in the U.K.?

 

Why would you bother to take them? You'll get around £200/day for doing f-all. It would be stupid idea IMO. You'll have plenty of time to do nothing once your term starts. It's not as if your lectures take up all of your time.

That said, I have heard of people taking breaks away and getting a return offer afterwards. Not the sort of thing that will look too good for you though.

 
Jas:
Or is this a 24/7/365 sort of job?
lol, I'm going into banking with the assumption I'm working every day for 2 years, including holidays. This will make for a smoother transition I think.
...
 

Take one week of vacation and do it in the summer. If you take it in the winter, or ask to take it in the winter, or say that you were considering asking to take it in the winter, you are pigeonholed as not a "team player" and will not be asked back after your stint is done.

Some analysts take 2 vacations of 1 week each at beginning and end of the summer. Those people aren't as bad as the people in the first paragraph, but try not to do it.

Technically you'll probably be "allowed" 3 weeks. No analyst has ever taken the full 3 weeks and lived to tell the story. Seriously, they will hunt you down and kill you. And any household pets you may have. They only put it in your contract so that you can pretend you "chose" to work more when you could have been vacationing, and thus think of yourself as dedicated to your work.

 

Can you take a vacation the summer you start as a 1st year?

My NYSE:
Take one week of vacation and do it in the summer. If you take it in the winter, or ask to take it in the winter, or say that you were considering asking to take it in the winter, you are pigeonholed as not a "team player" and will not be asked back after your stint is done.

Some analysts take 2 vacations of 1 week each at beginning and end of the summer. Those people aren't as bad as the people in the first paragraph, but try not to do it.

Technically you'll probably be "allowed" 3 weeks. No analyst has ever taken the full 3 weeks and lived to tell the story. Seriously, they will hunt you down and kill you. And any household pets you may have. They only put it in your contract so that you can pretend you "chose" to work more when you could have been vacationing, and thus think of yourself as dedicated to your work.

 

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