Difference between normal and "sweatshop" banks?

I've been reading the forum for a while and I've heard "sweatshop" thrown around pretty liberally. I'm curious if anyone could share their thoughts on the difference between a normal investment bank with good deal flow and a "sweatshop"?

2 Comments
 

It’s a catch-22. Good deal flow means that you will be working a lot, aka a “sweatshop”. Some people also say sweatshop to mean you are pulling late nights for pitches rather than live deal work, and ultimately losing the majority of those pitches. Really if you are joining a strong bank with good deal flow, you should be prepared to working a lot. The people who sign off at 7pm either are amazingly good at doing their work or they are not in a group with great deal flow.

 

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