Downtime in banking?
I recently accepted an ECM offer, coming from a trading seat at a BB. I hear a lot about the long hours, which I understand, but I also hear that there is a lot of downtime just waiting for comments and such. Personally, I would prefer to work later if there are "lulls" in the day - even if that means I can just go on instagram or whatever. From my friends in coverage, they indicate there is LOTS of "in between" time. I am wondering if this holds true for ECM, or is ECM more "go go go" from 8-10pm or something like that.
Maybe in a previous world there was downtime (being pre-covid) but now while waiting for comments you're turning comments for other projects
Combine that with markets ripping everyday, specifically for ECM + juniors quitting more than usual + lack of mentorship over virtual setting + inability to disconnect.....yeah I'm not so sure about downtime
But yes, when we weren't working from home, there was a lot of downtime
Yeah, I guess that's my broader question, should have been more specific. Given external factors right now (SPAC boom + covid), feel like this is non-standard. More so wondering during "normal" times, what the pace looks like.
Currently a first year in ECM. From my experience there is some down time during the day. My day picks up apt after market close (weird right?) mornings are pretty busy. For me personally from the 11am to about 4pm I’m working on things that aren’t due right away with Netflix on and chillen. Of course there are days where it’s non stop the entire day and night but there is down time.
I’m on tech, and know juniors in SPAC who are working nonstop 24/7. All depends on your teams deal flow really
Makes sense, I mean the SPAC stuff is just an external circumstance that (maybe I am wrong) will not last, especially with where rates are moving. Seems like on a typical day there are some breathers, which is nice.
Not in ECM, but across the hall in M&A there is definitely some downtime, i.e. right now as I am writing. Maybe ECM is hotter these days but I would have to guess it is at least similar in some regards.
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