I spoke with a 2nd year at a BB and he went on to tell me how much he hated his job and how Analysts are not bankers and they were treated as scum by seniors, he then proceeds to tell me how a lot of Ivy leaguers are the first to bite the dust bc they can't take the abuse. Is this true?
I asked him how he liked Wall Street as a whole and he responds with "Dude, Wall Street is a big circle jerk nothing more."
Is this how all 2nd year analysts feel? What did he mean by "a big circle jerk"?
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Ever play cookie? And lose?
WTF? no, don't get it.
I just found out what it is, I'm scarred for life.
Wow, I had to urbandictionary that. I was better off not knowing what that game is.
lol.
sounds ookie
I love cookies!
sounds about right
Elephant Walk of Life
Can someone with experience comment? Please
When I graduated, I would say that 50% of my close friends went into banking (8 out of 16 let's say).
After 6 months, 6 were left After 1 year, 4 were left After 2 years, 1 was left After 2 years, 2 months, none were left.
exponential decay?
I don't think this is atypical.
Being an analyst sucks. There's a lot of BS work and a good portion of what you do never sees the light of day.
A ton of senior bankers are losers who like to beat up on analysts because they can. However, those same "tough" senior bankers are pansies who are willing to cater to the dumbest demands by 25 year old PE associates.
I'm an analyst at a bulge bracket, and yes, this job sucks. I can't speak for every group or every bulge bracket, but the truth is somewhere in the middle. As an analyst you definitely get a the shit end of the stick, but, I haven't been blatantly disrespected by senior bankers. Some MDs act like you don't exist, some are assholes who love the fact that you have to do whatever the hell they tell you to do and some are cool/personable.
Youngblood that is the kind of response I was looking for, thank you!
No problem man. Always remember that most things you hear in relation to wall street are exaggerated to a degree. No, your MD doesn't spit in your face, no you don't have all-nighters on a regular basis and no you don't fetch coffee for your office workers (at least not in my group -- never have, not even once). People like to add "color" to this industry, as they say far too often in this business.
That being said, yes, you do have the occasional all-nighter, yes some MD's are a royal pain in the ass to work for, and yes you spend more time than you would like formatting and manipulating useless data.
I don't know anyone in IB that gets coffee for their desk, but I have friends in S&T who get coffee/lunch for their desk on a regular basis.
And as far as "all-nighters on a regular basis" - this depends on how you define an all-nighter and how you define regular basis. I know of very few people that have had to stay in the office for over 24 hours straight without going home, but it definitely happens (one guy was there over 36 hours straight).
But if you define an all-nighter as getting back to your apartment at 6:30 AM and then having to be back at the office at 9:30 AM, then I know of people doing this way more often than they'd like. Sure this technically isn't an all-nighter because you get to go home and sleep for a few hours, but it's not really a sustainable sleep schedule either.
Did you somehow skip over the part where I stated I am in banking? Right here, from the horses mouth, I am describing my experience -- not hearsay or third person like yourself.
I most definitely have had 24 hour periods at the office. I had a weekend where I wasn't at the office for a total of maybe 6 hours. So yes, explicit all nighters most definitely happen occasionally. The "back by 4-6 AM" is too common to consider it an all-nighter. That's just simply a very late night.
Boutiques have even worse hours than most BB's, there is no division of work if you get crushed. Take it from someone who knows.
BB's are a party compared to good boutiques, guys walking around, joking with each other, tossing a football at cubicles, waiting to get staffed, etc.
Att a boutique you are grinding 24/7 so if you can't handle a BB you definitely can't handle any decent boutique.
How do mm's compare?
Just got home from one of those boring $50k/year corporate finance jobs at F500...no picnic either
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