Busy this summer for SAs?
I'm working at a BB bank this summer. We started about three weeks ago. But i haven't been working the crazy IB hours. Most of my day for the last week was spent doing nothing except some minor tasks here and there - formatting for a while, etc. I'm putting in the hours and asking questions, but still not getting more work. Should I ask for work directly? As for the other interns, some are reasonably busy, while a good number are in a similar situation. What does all this mean?
how busy are you guys at other banks? How late are you staying? What projects are you doing?
What kind of hours are you pulling per week?
I'm not staying too late. This week I left at 9pm everyday except once (stayed til 2am). However, it is because I was not staffed on anything live so there was no reason for me to stick around and my supervisor told me to go home (since we get overtime) and so I don't stay there doing nothing important.
However, one of the other kids in my group stayed til about midnight every night but that was because he was in the middle of a deal with his analyst.
Also, I think it is because we barely started last week. I'm sure the workload will increase a lot, especially after the 2nd year analysts leave in a couple of weeks.
at a boutique (I know it is not a BB) but I have been going in at 8 or 9 and have been leaving anywhere between 9 and 11 (with the exeption of today, I was off at 8). They also have been asking me to come in on Saturday's; The last two weeks, I've stayed until about 8.
Because it is a boutique, and the training is a little more unstructured. I have been doing a lot of comps, research, editing, pitchbooking, going into conference calls, classroom training,and have shadowed the analyst in performing some dcf and comp modeling. I am in the Energy services group, so the analyst that I work for are super busy.
I think you should be ok. Dan2k, is right, the work load will get heavier as the summer develops. Just enjoy the time you have off. Also, it depends on your group and the demand for their services.
This happened last summer. In the beginning, almost all of the other summers were staying way later than I was because the deals they were on required it, while mine didn't. By the fourth week everything had flipped and then I was getting killed and they weren't.
It's hard, but try not to think of it all as a reflection of how the staffers perceive your ability. When you aren't staffed on anything live, just shoot your staffers an e-mail letting them know you have capacity (or whatever stupid buzzword they use at your bank). But be careful, because if you get staffed on too many deals there's a possibility that you'll get crushed big time if everything goes live at once.
I've stayed pretty busy, but I know some of the other SAs seem to be bored at times. It does vary based on what your staffed on, and how proactive you are at reaching out.
I average getting out around 12-1 weekdays, and 8-10 on Friday. Worked all last weekend, only here for a few hours today. Hours are a bit longer than normal for my bank, as we just lost two analysts, creating a 1:1 ratio of MD to analyst.
Haven't been that busy. A little worried I might be percieved as being lazy/non-proactive as a result. On other hand, I'm not sure I really want it to get too busy. sigh
Leaving at 8 PM... give me a break. If I cared more/were here for longer I might be tempted to give them more work, but what can I say, I'm too nice.
So far most of our interns have just been getting up to speed and learnings the basics of comps etc. They have helped out with some pitches but no deals yet as far as I know.
Of course when myself and the rest of the 2nd years who haven't been laid off or quit already are gone and we have to hand over all our work, I'm sure they'll get more deal-related experience. :)
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