Middle-market investment banks<br> * William Blair<br> * Piper Sandler<br> * Stifel<br> * Harris Williams<br> <br>Typical hours: 60–80 hours/week. <p>* Does this sound right? Which is better than BB & Elite boutiques.</p>
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No idea where this misconception comes from that hours are more chill at MM. They are generally more sweaty if anything (I am at one of the aforementioned)
Fully agree. No way are MM hours 'chiller', usually tends to be more pitching, higher sponsor deal volume in LMM / MM and more 'eat what you kill' senior pay structures whereby MDs are much more motivated to close stuff. Also depends on product and sector team - DCM / ECM at a BB is rarely going to be busier than most Tech MMs, but some low performing MM sector teams will never be as busy as GS TMT. Would also say that there's a misconception that you get paid lower at MMs, when I've seen plenty of instances (and at some banks its basically the norm) that you will get comped much more handsomely at a MM than say a BB which will have the much stronger exit opps on the other hand.
Agree with other commenter. I am at one of the banks mentioned and my hours are on par with my BB peers.
My hours at a MM were not very chill lol
Have a friend at a MM bank and he has it worse than anyone I’ve seen (consistent 2am nights, with the far too frequent 5am)
worst mistake was thinking the silver lining of MM was that it was going to be more chill, lol
current A1 at one of the banks mentioned, pushing 85hrs on good weeks and 100+ when its bad
had an analyst faint recently, so we got pencils down the weekend but right back to work on monday
Genuine MM shops have just as bad hours as their BB counterparts.
Regional MM shops will have it a bit easier but definitely still tough.
Have a buddy at NYC MM that works 65 hrs
Bank?
Can people share places where, on average, people work 70 hours a week?
Piper Sandler Houston. Heard they typically sign off at 10
How true is this?
any group that sucks will on average have better hours than a group that is strong
I think if you can find a lower-mid performing sector team at a MM that doesn't lay many people off and still pay decent bonuses as they're subsidised by much stronger performing teams (and trust me, they are rare but do exist), then you've done very well by some aspects.
We are very chill. Great vibes. Everyone should come. I’m definitely not the HR. Trust me.
How’s Guggenheim?
A alumni friend of mine is an2 and does healthcare at gugg.
From what he says, gugg is a total sweatshop, and he consistently has 80-90 hour weeks, with 100+ weeks not beinguncommon. Dude actually fell asleep during one of our calls (maybe I’m just that boring though, idk)
Middle markets are glorified sweatshops. Have fun doing deals with clients that have notoriously bad data that doesn't tie to the QofE, no ERP, and an unsophicated management team that frequently lacks a CFO
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