How are people "summer ing" in hamptons/cape cod?

To be able to afford to summer in Hamptons, Martha's Vinyard etc you need a very very high paying career (ib, pe, etc).

People in IB PE work weekends, holidays, excessively long hours, skip vacations routinely, and travel all the time.  There's also a huge push for 4 to 5 days a week in office.

How are any of these people just taking off to chatham ma for the summer?  My neighborhood in a nice nyc suburb is empty all summer(everyone is at their summer home).  Meanwhile I'm in the office grinding deals with mds and senior group heads 5 days a week.


Who are these mythical creatures that "summer"?

 
VP in IB - Cov

To be able to afford to summer in Hamptons, Martha's Vinyard etc you need a very very high paying career (ib, pe, etc).

People in IB PE work weekends, holidays, excessively long hours, skip vacations routinely, and travel all the time.  There's also a huge push for 4 to 5 days a week in office.

How are any of these people just taking off to chatham ma for the summer?  My neighborhood in a nice nyc suburb is empty all summer(everyone is at their summer home).  Meanwhile I'm in the office grinding deals with mds and senior group heads 5 days a week.

Who are these mythical creatures that "summer"?

From what I’ve seen:

1) senior people who have a lot more flexibility across industries (but including PE/IB/etc)

2) family money in any career 

3) mid/junior people in more flexible finance careers (I.e. HF, asset management, etc) or even tech

I know at my HF many of us spend significant amount of time away over the summer (second home or rent a place, etc). 

 
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Grew up in the Hamptons every summer, short answer is work in finance but not IB. My dad is at a HF and everyone he works with goes to the hamptons all summer. Plenty of senior PE people do it too, though all the ones I know are at least back and forth a little and not fully gone for the summer.

AM is great too (especially in the Boston summer spots from all the Fidelity/Wellington/etc people), those guys make a ton of money and great WLB.

Don’t know anyone in IB who fully disappears to a summer place for months on end, maybe during Covid but there is just too much of a FaceTime culture

 

The senior partner at my fund has been working from the Hamptons since May. He just dials in remotely for everything.

For anyone junior or even in middle management, no I have no idea how you could 'summer'. Maybe doable if your parents had a place out there. Still probably a hassle to get back by Monday unless you have a sweet remote arrangement. Seems like the key is these folks summering are senior enough that they decide when they need to be in the office.

 

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