Hello monkeys,
I recently read this article about Facebook's bereavement leave policy which was, in my opinion, quite generous.
“Starting today, Facebook employees will have up to 20 days paid leave to grieve an immediate family member, up to 10 days to grieve an extended family member, and will be able to take up to six weeks of paid leave to care for a sick relative,”
Just wondered what are the bereavement leave policies in BB investment banks? Do you think they're generous enough? I'm confident that these banks should give some slack to analysts for deaths of family members. Or am I wrong? I'm hoping I don't have to work the coming Monday if a family member just died.....
Not to be insensitive but life goes on and the markets don't close when a loved one dies.
You've clearly never had an immediate family member die.
I have and if I recall I took 5 days off of school. It was some time ago so before university. Whether you take 2 days off or 20 I'm not sure you're going to feel any better. Naturally the circumstances come into play too where if Grandma dies at 90 it's a bit different than your parent or younger sibling dying in a horrible accident.
I think people would be sensitive of a potential loss and it's likely better for you to get back into things for your own sake. Again, I don't think most places have firm policies so you take the time you need while at the same time realizing your time off isn't going to change anything and you are kind of leaving your team hanging if you take extended time off. Ultimately you're an adult and you have to do what's best for your health while at the same time being responsible and managing your commitments.
Frankly, it's a bit of a weird question to ask. I don't know of anyone who would be psyched for tons of bereavement leave as it sucks to have to use it. While it doesn't seem like it all of the time, bankers are still people too and they generally have empathy and compassion.
Life goes on and the markets don't close when you take a few days off for bereavement either :)
Cool man. Doesn't seem to answer OP's question, but I'm sure all those IB or bust kids will see the light and start doing their obsessing on 'Big4oasis.com'.
I'm not suggesting a career at a Big4 over IB. Obviously its much more difficult to land a position in banking and there are more exit opportunities to PE/VC funds or Corp Development.
What I was saying though, is if OP cannot deal with the mindset or mentality to not take proper bereavement leave, or if he/she has an elderly parent that requires care, then Deloitte might not be a bad option.
In terms of salary, I wasn't trying to compare salaries in IB vs Consulting. I was merely offering the 6 figure remark that a few years in, yes you will be making 6 figures, and yes 40% of that will offer you enough funds to quite comfortably travel abroad while on sabbatical. Most Consultants I know (non-MBA, year 2) are right at the 100K if they're high performers. Also, if you receive a rating of 1/5, then you get a 15% raise after your first year, which puts you around 84K, then another 15% raise based on a performance rating of 1/5 puts you around 95K at the end of your year 2. There's a 23 year old girl on my team pulling in over 90K base but granted, she's a top performer. I'm slightly older at 25 and pull in a bit higher than that, but I came in as an experienced hire.
What the fuck kind of thread is this? Sometimes I wonder which posters on here are people vs robots