Are bosses/superiors in banking really that bad?

I see a lot of stories on wso about how they got chewed out non stop, how their boss goes on abusive power trips etc etc.

Is it really that bad though? I mean bosses in general aren't supposed to be the nicest people on the planet. I'm sure there are a lot of nasty bosses in other industries too. Of course I'm interested to hear stories of just how bad it can get.

 

You've never heard a story about how someone fucked up a project costing their company $1mm+ in fees and his boss sat him down and told him it was okay, that he'd get it next time? Hrm, I wonder why...

Also, not every boss goes on abusive power trips. There are 1,000s of MDs on Wall Street. You've read, what, maybe 10-20 stories?

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

Its called "complaining syndrome". Most bosses are good and some are great that they really want us to do well. I can say for a fact, I could not ask for a better and more understanding boss. However, I am not going to write a story on WSO about how great he is because it doesn't make much sense. However, if my boss was a total d-bag, I would need to vent on WSO or to tell people about it. Also finance is a high pressure job, so percentage wise there are more douches that exist because of the stress. You hear a great number of stories because people are simply complaining about their dickhead bosses, but you won't hear stories about great bosses. It just doesn't work that way. Hope that clears it up.

Array
 

I actually find the lower-level employees on Wall Street to be worse. Especially at the analyst level - lots of hot head college kids think they are awesome & invincible, and they show it through excessive arrogance.

 
Best Response
Captain Murica:

I actually find the lower-level employees on Wall Street to be worse. Especially at the analyst level - lots of hot head college kids think they are awesome & invincible, and they show it through excessive arrogance.

Yup. I had multiple interviews for positions over the past couple of weeks. I met with MDs, VPs, and analysts. The biggest d-bags were the analysts, precisely because they thought they were so awesome. There was one phone interview I had for a boutique my senior year. At the time I already secured another position so didn't care as much. The VP and MD liked me and got along great with them. The analyst calls me up and just starts being a bitch for no reason. I kept my cool and acted nice. After 20 mins of him being a douche, I just hung up on him. He calls me back saying we got disconnected, I said no, I hung up on you. The MD calls me up and asks me what happened. I told him I don't want the job because the analysts was rude and even though I answered the questions, he kept being a POS. The MD was shocked and seemed pretty pissed at the kid. He forced the analyst to call me and apologize. He didn't seem very apologetic, but he said he was just joking around, even though we both knew he wasn't. I accepted his apology, thanked him for a great interview, and withdrew myself from the interview process.

Array
 

Holy shit that is an awesome story. I'd like to hear more details about what he was saying in response to your answers. Any idea where the cuntiness came from? Is it a test because they know the job sucks at the analyst level and they want to see how badly you want it?

I interviewed at a top group and everyone was really cool. Except for the Global Head of said group. He looked at my resume, saw my undergrad state school, asked where I went to high school and asked me why I "never went to a private school". He finished up with "I don't think you've ever had to work hard". All this despite the fact I told him I got my MBA part time while working in another group at the same bank. Needless to say without his blessing I didn't get an offer.

 

I've worked at multiple banks, and I have had myself ripped apart by individuals at the top of my old bank who really did NOT know what they were doing in investment banking. Everyone makes mistakes, but some people can be just sadistic. That being said, I now work for an incredible MD who has decades of heading BB's and always takes the time to explain very complex concepts BEFORE mistakes are made. Hence, when I do make mistakes I have gotten ripped apart, deservedly...So I stopped making stupid mistakes. I agree with the above posts about younger bankers...they are the ones who typically don't have any managerial experience and never make it to the top. D M is right...if you fuck up a project and cost the company millions...you better pray your boss is related to Jesus Christ. However, the best advice is have a thick skin, despite any volume listen to what they're actually trying to convey, and be tough...If you're not tough there's a jcrew down the street...

 

Et aspernatur iste modi consequatur. Sed est ad molestiae vel est voluptate. Modi delectus aliquam impedit iste a voluptatem. Quasi placeat nostrum sint ut ipsum ut.

A ipsum omnis animi ea quia hic incidunt. Nisi omnis tempora aut molestiae quis accusantium. Mollitia excepturi impedit magnam cum aut quasi est sunt.

Doloribus sunt maiores nisi vel qui. Molestiae ipsa quibusdam labore omnis at. Nobis iure dolores voluptatem aut expedita. Ex iusto et aut sint sed et consectetur.

Ut voluptatum aspernatur incidunt quam numquam hic. Veniam quod nam id sequi cum voluptas sit at.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”