Is downtime in IB a myth?

So I hit the desk 4 months ago and have had maybe 4-5 days where I had a good amount of downtime. Coming in I heard that 30% of your day is no work. Is this a myth or is it just a busy time now? (I’m on no live deals just random pitches) 

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Also work at a “sweatshop” group and have a fair amount of downtime depending on the week / day. Sometimes multiple deals die / close in a short time span or you might have multiple meetings over a few days. The days leading up to the meeting will be pretty rough followed by a few days of doing essentially nothing (depending on follow ups). A lot of days where I have significant downtime I still end up working till after 2AM. 

 

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