Hours/WLB in Distressed / Special Sits Funds
Current Rx banker looking to make the switch. WLB is terrible and hours are crazy at the moment given how busy it is.
Wondering if it gets any easier on the other side as I look to recruit out?
I just want to be able to workout without the stress of a hundred emails coming through and eat dinner with my family and friends. Thank you.
Depends on the fund, can range anywhere from 50 hours a week to 80/100
Agree on fund-to-fund variance. Also depends on how close you are to deploying capital on any given name.
There are down periods where you're mostly just doing early stage work -- can be out by 7. Other times, when you're close to making an investment, you get multiple post 12am days.
Is it more or less worse at the mega fund SS groups (ASOF, TPG AG, Bx TacOps, APO HV)?
I'm at one of the above mentioned (and have been at other similar shops before). I can tell you, hours are bad and worse than my friends in PE. Banking is longer hours overall, but less brain-consuming
Jesus OK that’s not good to hear. Appreciate the insight and hoping things get easier for you!
Hours are better at leaner SMs than large funds with lots of mid-level guys. Pitching directly to the PM is much better lifestyle wise than preparing tons of work material for I/C and getting work reviewed by VPs.
Hours are better at 100% public / mostly public funds. Hairy private credit is still deal driven which takes away visibility from your schedule.
Hours are better at funds that want to avoid restructurings which are still a huge time suck on the buyside if you are SteerCo.
Hope the above is helpful. I will say that there are real trade-offs here to the point where I don't think maximizing WLB for your first seat is the right move.
Thank you! Appreciate the insight!
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