Ecm analysts
Those of you who are analysts in ECM - do y’all have a life outside of work and can do things during the week? It’s obviously super slow now but given a normal week is it more or less a slightly more grind of a 9-5?
So last year it was insane. Monday - Friday was 7:30am to 1-2am. Saturdays no work and Sundays were usually 1-2pm till 8pm ish. It was non stop, we were marketing 2-3 deals a week. Depending on the team, maybe escape on a random Thursday for an hour to have a chill dinner but it was hard to plan anything other than for a Saturday.
Now it’s super slow. I make plans every night and it’s been weeks since I’ve had to cancel. Kinda sucks because we aren’t doing much and some people are afraid of layoffs since we expanded so much last year and now we have to many heads for no deals. Healthcare is doing ok but still nothing compared to last year. Right now it’s like 8:30ish till 6ish. Pretty normal boring day job atm, when ever markets pick up again I’m sure things will change but for now, we are coasting.
Damn that’s a lot last year even given the markets. Are you at a BB? Typically is it more of an 8-8/8-9?
A MM and if I was working so late I can only imagine the BB people. It was pretty brutal. So yes normally it’s like 8-8
At top BB. I interned pre COVID, hours were 8-11 mostly + weekend work. During COVID while the market was hot, we worked 7 days a week, all day every day, it was non stop. I left after that year but I’m sure my old colleagues are chilling these days
How is this different from the hours at any product or coverage group?
most people think ECM is 8-8, my point is that it’s not especially at top firms. Until now I guess, I’m sure it’s a true 9-5 now
How are the hours now ? Has ECM came back to life ?
It’s senior dependent. I’m 8:30-9 but know people working til 1-2 regularly
I just had my finished my ecm internship but have interviews for other groups rn. One reason I want to leave is I hated doing the boiler slides and marketing updates that was just used for internal discussions. Is that what your group does a lot or is there more meaningful work?
It’s all boilerplate slides but you get paid the same as coverage and work way less but your work is less interesting and it’s easier to get stuck. I dislike my job but made ~190k last year but have no technical skills and spend way too much money so taking a pay cut and the risk of hating my new job just isn’t worth it. Advice I’ve gotten is either stay where I am for 5 years and go to IR in a more senior position (that’s too long), spend 2 years in coverage or research and go to a hedge fund (that lifestyle isn’t appealing), stay where I am forever, or take the pay cut now because every year it’s only going to get harder as my comp rises. With the skills you learn in coverage, you have more opportunities to go down different paths after 2 years.
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