Drugs in IB
Everyone talks about coke and adderall in IB...how much of it is random wolf of Wall Street hype and how much of it is actually real? Like will I actually walk into the bathroom and people are just doing lines of coke?
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I have been in finance my entire life, never seen a line of coke. Maybe I am in the boring teams?
Most of these movies are exaggerations or cliches.
100% of it is hype. IB is just a regular corporate job that happens to have shitty hours.
is it possible that this kind of thing may sometimes happen, but only at the senior level? I'm thinking of sage kelly and how his wife, not an employee, was the one who ended up exposing him. seeing cantor pick him up so quick also gives me the impression MDs there really don't seem to care...
Sure, you could have some random MD who does it, but that could happen in any job. 95% of MDs have families and are pretty focused on that type of thing, not this baller party lifestyle portrayed in movies
No. The reality of banking is sitting down for long hours, grinding and being able to to drop everything and respond to senior bankers requests. Standard corporate work environment with outdated policies that treat employees like disposable toys.
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You'll never once see drugs in the office... there will probably be a decent number of people on prescribed ADHD meds, but it's not like they'll be snorting it in the bathroom, just taking it at home along with their blood pressure meds and beta blockers.
Some people will definitely do party drugs on their weekends off, but it's kept entirely separate from work life and if you're not in that crowd you'll never hear about it. I've almost certainly met more bartenders and bouncers who do coke regularly than all the professionals I know combined, including finance and everything else (at least that I'm aware of), and I don't know that many bartenders or bouncers. I've never seen or heard of anyone doing it in the office, even from older guys who came up during the 80s.
People in finance like to make money, and being fucked up during work hours and openly breaking the law are really bad for profits
My dad is an ER doctor and told me one of his colleagues was suspended and then fired for using coke at work. This story is relevant because the guy was a former longtime Goldman M&A banker who got an MD because banking was "not exciting enough." He was fired after failing his mandatory cocaine tests (instituted after he was caught using at work). I asked my dad, "doesn't cocaine leave your system really quickly?" He said, "yes, but apparently not quickly enough!"
A senior banker an info session was acting really weird last year. Apparently he was on coke.
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