Is it possible that IB will ever become more bearable WLB at the Analyst / Associate level?
As WLB and general treatment of employees becomes a bigger sticking point across the board, I wonder if it's possible for Investment Banking to become more bearable from a WLB perspective at some point down the line.
Attracting top talent is becoming increasingly difficult for these banks - yes, I understand amazing salaries are great and everything, but for most people it's not everything. It seems to me that it would benefit these banks to consider how they can provide more flexibility and WLB to these young bankers in an effort to attract and retain talent.
Note I have never done IB so I'm probably missing some huge piece of the puzzle here, but it just seems to be a cultural shift waiting to happen. Interested to hear ya'lls thoughts.
I would disagree. IBs are struggling to attract top talent bc of how close-knit the industry is (aka its a peoples business and you can only know so many people). The shitty WLB is a way (albeit brutal one) of getting the most hungry kids out there. The idea is that one has to be extremely determined to make it if they stand through all of that.
What I believe will happen if this push keeps happening is that banks will hire 2X the people only to pay half as much at the junior level. At the higher levels, however, they will keep the same salaries or even higher, meaning that those who want to make it will still keep pushing through.
The reason I say this is bc this is exactly how IB works in many other countries. In places like LATAM, salaries are far below US counterparts until you get to the senior levels, where they become much more on par (obviously the best MD in Mexico City won’t make as much as the NYC equivalent, but it will be more reasonable)
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