How much of your time in IB are you on autopilot?
I'm in college and considering IB. After a couple conversations with current analysts, my understanding is that the work itself isn't difficult but rather time-consuming and "sometimes unbelievably mind-numbingly boring" (direct quote). However, how often does an analyst have to sit down and just think about how to work through something? Sometimes I find that tedious tasks are preferable over the more difficult, thought-provoking problems even if the tedious tasks take longer. It's the difference between washing the dishes on autopilot and writing an essay. Writing essays can be more interesting, but I eventually end up mentally fatigued. This is a long-winded way of asking how much of your time in IB is spent on autopilot vs. having to fully process and think through problems.
Most worskstreams in banking follow an 80/20 rule where 20% of the tasks take 80% of the time. For example, you are scrubbing 10 comps, 8 have standard financial statements and the work is repetitive but 2 don’t clearly disclose the information you need so you end up going through an hours long rabbit hole to figure out the correct EBITDA adjustments. Or you are working on a pitch deck and 80% of pages come from precedents where you only need to do minor updates, but finding the data for the 20% new creates requires much more thought and resourcefulness on your end.
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