Leo Lukenas Death - Nothing Has Changed
https://www.wsj.com/finance/banking/bank-america-…
Latest from the WSJ about how certain banks are instituting 80 hour a week caps for bankers, with the caveat that there are no limits when on a live deal. LOL. This means absolutely nothing. Definitional virtue signaling.
For all the junior guys out there - your bank does not give a shit about you. Do your two years, don’t try too hard, and GTFO while you can. Giving yourself irreparable health damage to impress a bunch of glorified salesmonkey MBA seniors is extremely dumb.
Heard the same from BofA analysts/SAs who were limited to 60 hrs but ended up pulling way more lol
Such performative bullshit. What these senior guys don’t understand is that compared to their junior banking experience 1. we are always expected to be on now with wfh stations and phones and 2. We get paid so much less than they did as juniors (inflation adjusted)
My friend said 50% less pay inflation-adjusted from a decade or so ago
I didn't really check the numbers but at the current pay scale for me to do this job for a long ass time, the numbers are just way too low
For what it's worth, I know MULTIPLE places that had SA's capped at ~60hrs but the interns actually worked ~80 and only reported 60.
This industry is really shit when it comes to that.
Man, sometimes wish I had left earlier when my analyst stint was up.
Started losing more brain cells by the day when I did a few years of associate.
Thank god consistent nutrition and exercise saved my body through the years.
are you still in the industry? curious what youre doing nowadays
Hey, feel free to check out my AMA thread in my profile.
I left finance not too long ago, currently at a startup in an unrelated field.
This isn't great, but still better than what we did in our IB days just a few years earlier. Some nights were graveyard because the client was in a timezone ahead of us.
Gary Howe 🤡
Did he quit/resigned/get fired? Or is he still the co head of FIG?
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