1/12/12

Interesting article in Here is the City... its from a London analyst that just quit and is bitching and complaining about banking. I'm actually quite surprised by what a naive bleeding vagina this guy is. How the fuck do you even get into this business with expectations that you won't be working 18 hour days and expecting to get warm fuzzy hugs and MDs that put their large fatherly man hands on your shoulders and say "you doing ok, champ?"

Don't get me wrong, its by no means expected that someone would enjoy the lifestyle aspects of our careers. But this little guy is getting his feelings hurt because his MDs send him emails with the message in the subject line and nothing in the body of the e-mail.
http://hereisthecity.com/2012/01/11/ex-mergers-and...

"When we'd discuss a pitch or potential project with the team, nine out of ten times the first question would be: 'where's the "fee event"? How can we make money from this?' I mean, I understand banks need to make money, but you can't think of yourself as 'trusted adviser' - the big term in M&A - while at the same time putting your own fee first.

My flatmate is in finance too. I've seen him coming home crying, from exhaustion, from something that happened to him. Why are we doing this to ourselves?

I found it a surprisingly coarse world. The first few weeks I was really surprised about all the 'fucks' being used. Often superiors will use only the subject line in an email, with a one sentence question: 'have your started working on this yet?' or 'call me asap!', which doesn't show much respect in my opinion

Comments (15)

1/12/12

The problem is that most of the people entering this industry right now are from the generation that has been pumped full of entitlement. They feel like they should be able to make six figured without having to endure the work that comes along with it. Fortunately, most senior bankers aren't very compassionate and won't coddle them, so they'll be gone quickly for the most part. This reminds me of when the Marine Corps started listening to the mothers of America and changed their training programs a few years back. All of the sudden we had complete pussies showing up to our unit telling us we couldn't treat them a certain way.

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1/12/12

Typical 'It can't be as bad as they say' rude awakening.

What a bitch.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

1/12/12

Ha!! the guy wants his superiors to show respect in an e-mail. Now who gets that!

"Sincerity is an overrated virtue" - Milton Friedman

1/12/12

Are you serious? Those quotes make it sound like a fucking vacation.

1/12/12

"When we'd discuss a pitch or potential project with the team, nine out of ten times the first question would be: 'where's the "fee event"? How can we make money from this?' I mean, I understand banks need to make money, but you can't think of yourself as 'trusted adviser' - the big term in M&A - while at the same time putting your own fee first.

This is classic. What for profit business anywhere operates with a truly altruistic approach to their clients? Companies that sell their products and services at a loss go out of business...simple as that.

This kid just doesn't get it. You are pitching to win a deal for which you will be compensated. If the opportunity cost is too high, you shouldn't be pursuing the transaction.

1/12/12

Marcus_Halberstram:
I'm actually quite surprised by what a naive bleeding vagina this guy is. How the fuck do you even get into this business with expectations that you won't be working 18 hour days and expecting to get warm fuzzy hugs and MDs that put their large fatherly man hands on your shoulders and say "you doing ok, champ?"

I often wonder the same thing about Michael Lewis. What a bitch. I read this kind of thing to educate myself on what I'm going to face.

Get busy living

1/12/12

The guy in the article is a pussy.

Thread closed.

1/12/12

hahaha what a clown

i'm on a sell-side trading desk at the moment. if i even turn my head to look at one of the other traders, i might get a 'BOY-look at your fucking screen'...

it was rough at first but you have to block it out

1/12/12

haha I mean it is Europe... would you really expect anything but?

In reply to WestCoastDeveloper
1/12/12

Nobama88:
haha I mean it is Europe... would you really expect anything but?

I thought the same thing. The guy talks about his male roommate also in finance coming home crying. The guy is a total wuss and his roommates cry . . . WTF??? How many pussies can you fit in a London flat?

Gimme a break!

2/24/12

I hate to bump this...

No, wait.. this should be bumped for pure lol sake.

Enjoy. I especially like the 3rd example.

2/24/12

"I mean, I understand banks need to make money, but you can't think of yourself as 'trusted adviser' - the big term in M&A - while at the same time putting your own fee first."

Just...wow.

Naivete to the max.

"When I was young I thought that money was the most important thing in life; now that I am old I know that it is."
- Oscar Wilde
"Seriously, psychology is for those with two x chromosomes."
- RagnarDanneskjold

In reply to GentlemanJack
3/5/12

GentlemanJack:
Nobama88:
haha I mean it is Europe... would you really expect anything but?

I thought the same thing. The guy talks about his male roommate also in finance coming home crying. The guy is a total wuss and his roommates cry . . . WTF??? How many pussies can you fit in a London flat?

Gimme a break!

Central London, I would say 50 but going out, venturing into East London, I would imagine at least 75.

LOL on a real note, I think he worked at either JP or MS. I would bet my money and say MS as I know at least two another analysts that left the bank in their analyst years because it was too much. I would imagine a summer internship is more than enough to say "Hey, 100/wk is too difficult, this is not for me." You can then apply for grad jobs elsewhere.

Its these delusions of granduer, where people think that FT will either be a) different to their SA experience (which has happened to a few monkeys I know) b) the money will be worth it c) I will be a completely different person by then doing 100 hours week, benching 350, training for a marathon.

In reply to Rumplesmoothspin
3/6/12

Rumplesmoothspin:
GentlemanJack:
Nobama88:
haha I mean it is Europe... would you really expect anything but?

I thought the same thing. The guy talks about his male roommate also in finance coming home crying. The guy is a total wuss and his roommates cry . . . WTF??? How many pussies can you fit in a London flat?

Gimme a break!

Central London, I would say 50 but going out, venturing into East London, I would imagine at least 75.

LOL on a real note, I think he worked at either JP or MS. I would bet my money and say MS as I know at least two another analysts that left the bank in their analyst years because it was too much. I would imagine a summer internship is more than enough to say "Hey, 100/wk is too difficult, this is not for me." You can then apply for grad jobs elsewhere.

Its these delusions of granduer, where people think that FT will either be a) different to their SA experience (which has happened to a few monkeys I know) b) the money will be worth it c) I will be a completely different person by then doing 100 hours week, benching 350, training for a marathon.

Definitely not JP as they are located in the city of London, not Canary Wharf (though JP is moving their offices to Canary Wharf this quarter I believe- but doesn't matter as JP would chronologically inconsistent with the article)

The only true bulge brackets in Canary Wharf at the time of the article would be MS, CS, Citi, and Barclays

My money is on MS or CS TMT

In reply to Affirmative_Action_Walrus
3/6/12

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