How common is coasting at BBs?
Monkeys,
I've been talking to my friends and colleagues who used to work at BBs, and apparently there's a lot of coasting happening there. A few things I'm not sure about:
1. Is it actually that common?
2. Is it true that bad VPs or ASOs can hide behind great analysts? Also true that bad EDs can hide behind great VPs?
3. Is it true that some people can get away with WFH 4 days a week and no one knows?
4. Do staffers or EDs know?
5. At EBs and PE, deal teams are leaner, so poor performers get exposed quicker?
Thanks!
It's hard to see the 30,000ft view from 10ft and vice versa... I hear so many analysts saying their VP does nothing (and the same from VPs honestly) truthfully both of those people are probably working hard in ways that are simply less visible to the other person. The analyst spends 8hr a day building a model or a deck out and that is just not as tangible to a VP... while the VP might spend a lot of time on client development / learning to present to clients, or working across 10 deals, and the analyst doesn't see that
In general people who do nothing in BB IB do not last that long. Low bonuses or no promotions to get rid of people are common, they filter out eventually. It's an incredibly intense job and the last-minute nature of it is not well-suited for someone who wants to coast. Plenty of jobs you can coast in. EBs love to tout the lean deal teams but at the end of the day, everyone BB/EB is working their butt off..
No one is regularly WFH 4 days a week at banks with in-office requirements - or if they are, people definitely notice. Banks track swipes and if you are regularly not showing up, you will 100% hear from them.
Second this.
The "coasters" got exited in the 2022/2023 cuts.
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