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Career Resources
Bank Tier: Well-known boutique specializing in a specific sector Average Hours: 80-100+
This is a significant improvement from prior years when interns worked with everyone else at the firm until 3 or 4am (due to people at all levels leaving all the time in the summers). Unfortunately, interns won't leave until after their superiors are gone so they would usually stay for very late into the night. The interns were really good at their jobs though by the end of the internship period since they got their reps in. You got to put in the effort to reap the gains though.
If you're a really good intern, expect to work 100+ hours every week. Saturdays were supposed to be protected but like many banks, were not followed with interns. If an intern was working
At any reputable bank there's a position called staffer, sometimes a dedicated role or filled by a VP / assoc, who puts analysts / associates on pitches / deals depending on their capacity. For example, at my shop we have a dedicated TMT staffer who will coordinate with MD's based on their junior banker needs. Additionally, we have a staffing sheet where you list hours worked on a particular pitch / deal. Based on your capacity (upper limit is 80 hours worked, so actual work, not "in the office" for 80 hours), you're either put on a new project or skipped over for someone with more capacity.
Ex: If John and Jane have 60 and 50 hours listed on their staffing sheet, respectively, Jane will be staffed on MD 1's pitch since she has more capacity, unless MD 1 hates Jane because she produces shit work.
At a BB, often times the staffer is a rotational year for junior VPs - it is beneficial career wise because you build a lot more connectivity internally, especially with the senior team, and visibility into what is going on broadly across the group from a business perspective (i.e. what clients matter to seniors, how the deal pipeline looks, etc). They don't only manage staffing, but also usually work in a quasi-chief of staff role for the group. Usually they can choose if they want to be working on deal teams too and sometime they'll keep 1-2 key clients that they like, but mostly they take a back seat from actually executing to focus on the staffer role for the year
1080 hours in total
Bam! OP roasted for lack of Attention to Detail
Uhm... dafuq? Isn't that the definition of facetime?