Does Anybody Enjoy Sweaty Groups With Long Hours?
I understand when breaking into IB you take any offer you get even if it's a notoriously sweaty group that works 6/7 days a week 90+ hours consistently but what I don't get is why people stay for so long? How do these groups even have Associates and VPs that stay in the group and don't transfer internally or change firms all-together? Is it just because generally sweaty groups = more pay?
I'm at a pretty good place in terms of deal flow, experience, and hours and I quite enjoy the kind of chaos the team gets when prepping the VDR for bidders and the 2 weeks of crazy hours leading up to it but definitely couldn't do it for on a regular basis like I've heard some groups do so just curious on the sentiment.
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Did two years in a “sweaty” group at a “EB”. Most of these people that stay don’t really care about free time or quality time with loved ones. Some may be driven my money and others by “prestige”. I find it very bizarre when you have mid-level folk coming back to work the week after their wife gives birth. I do think that there are associates and VPs that have a better WLB but there are many that are grinding.
I mean to each their own - I’m a first year so what do I know. But my 2c is that some folks like the pressure and rigor that comes with a group that’s consistently working 80,90 hour weeks.
If you’re working those hours, you’re likely on a few live deals which is always interesting, again I’ve only been on the job for almost 4 months now so take it as you may.
This gets old pretty quickly for most. Hopefully you prioritize your health and life because the 90 hour week thing will significantly shorten your lifespan.
If you end up doing that, check your blood pressure / overall health now then report back in a year
Couple things here:
1) people are notorious for exaggerating their hours. There are not many groups across the street where experienced analysts and associates are working 90+ hours/week consistently (first years are a different story because you don’t know anything yet). When people say 90+ hours, they are usually working for ~60 and waiting around / dicking around for ~30 so you have some time to charge.
2) People who do these hours generally don’t care about anything besides work and prioritize work over everything else at all times.
3) I’d argue if your team has a good culture and you’re doing actual live deals / building your resume during those 90+ hours, it’s more doable for longer.
Actually working 90+ hours/week (without downtime) is very, very difficult. Even as a single guy, I struggle even doing a couple of those in a row.
^^^ a lot of ppl lie / stretch their hours to seem like they’re working harder than they actually are
I'm at a MM in a group known to be sweaty and I can promise you none of us overstate our hours.
Staffers try to have you on 2 sell-sides at all times and you are expected to be able to help with any marketing decks or pitches that get thrown your way.
VPs are usually hitting 75+ a week with juniors over 90 pretty much every week. I can message any junior in our group at 3am and 9/10 times will respond immediately. No one is dicking around at 3am twiddling their thumbs so they can inflate their hours.
If you’re working 90+ hours per week every week (actually working, not just on call), you should quit immediately. There are plenty of places where you don’t do that
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