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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...

Quote:
"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.

Quote:
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?

Quote:
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)

  • Rupert Pupkin's picture

    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.

  • happypantsmcgee's picture

    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

  • OhYeah's picture

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

    "Sincerity is an overrated virtue" - Milton Friedman

  • TechBanking's picture

    Quote:
    "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.

  • UFOinsider's picture

    Marcus_Halberstram wrote:
    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

  • UncleMilty's picture

    "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.

    Naiveté 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