Currently an IB SA at a top BB. Also in a group with strong deal flow. I've been working 80+ hrs in office, same for my analysts. Not terrible, but not ideal. Was networking with other interns at smaller banks (Nomura, Mizuho) and they're pushing 60 hrs a week, and barely staffed on anything. I can see the difference in experience we'll get but don't ever see myself pursuing MF PE or HF. Can see myself being a career banker in the right situation. Wondering if it's worth stressing at a BB for 2 years, compared to chilling at a smaller bank with a decent reputation.
What have your SA hours been? Are there FT analysts at sub 80 hours a week?
Had mostly 60ish hours in my SA stint at a BB last year. Ended up moving away from IB to trading just because I liked markets more, but the FTs were usually 70-80 unless there was a big deal going on
Was it difficult switching to trading and what skill set does a trader need?
I noticed during my internship that some banks were limiting the no. of deals and the hours the interns worked every week. My bank staffed our interns on say 4-5 deals on avg. (most of which were live) and I know at another BB their interns were on 1-2 deals and barely doing anything. Thus, it might be a fallacy to see how much interns at other banks worked you know.
Also, a lot of time is spent on moonshot pitches or "biz. dev" that never goes anywhere at a lot of those international banks - so as an analyst you are still likely putting in a lot of hours, except now you'll barely get any meaningful deal flow. just my 2 cents.
Yes, the majority of IB analysts (even at BB/EB) average fewer than 80 hrs a week. If I were you I wouldn't be inclined to put up with that - you need to really value the step up in experience/prestige for it to be worth it
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