Going into a first year analyst job in New York, been hearing a lot of all nighter stories. Im sure theyre true, my question is how often do these all nighters occur/ how many hours can you expect to work on an average day?
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Are you doing IBD? If so, which group?
Depends the group but from my friends in new york...when there is a lot of deals going on, a few a week.
correction: *are a lot of deals going on
Sorry for the confusion, misworded the question. Im actually still in college just wanted to know how the all nighters/hours vary from group to group.
When I was doing my summer analyst program (several years ago at one of the firms that disappeared in 2008), my roommate was in IBD. 2 AM was the norm with 2-3 all-nighters in the eight weeks. But 2006 was a different market than today.
All nighters are uncommon for anyone right now, even in sweatshop groups. Sure, you will undoubtedly have to pull them on occasion (1-2 times a week when times are rough aka deal just blew up, upcoming bakeoff, etc) but in a market like the one today, I severely doubt anyone is doing them consistently unless they suck and work very slowly.
If you're on a live deal you could be living at office
a friend of mine who worked at goldman was so happy b/c he got to come home by 12.30 AM on average this summer..
Suprisngly, groups like FSG, Healthcare are not as facetime orientated, and theres lots of time there`s no dealflow. But when there is, a few all nighters in a row for sure.
Apparently in a lot of other groups, like TMT/CRG at GS/MS etc., it's at least 4 am every night and a 10 am start the next day. tough world.
all bravado aside, all nighters will crush your productivity in the days following. Only if something is due first thing the next morning should be you pulling an all nighter. I have seen several analysts who will pull all nighters as a sign of their commitment to the job/work. Doesn't help me at all if you work all night and are borderline comatose when I need you for something else. I often give firm instructions to analysts along the lines of "do not work past midnight on this and, if something else comes up, work on this tomorrow." Develop a good working relationship with your VPs/associates so that you are comfortable straight up asking what the level of urgency is. Especially in a small group, life tends to be more of a marathon. I find that I can work 8am-1am constantly without much of a fall off. If I am at work until 4-5am, the second day after that night is not very productive.
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