Rude Analyst or Industry Norm?

Hey, so I got a coffee chat invite for a top boutique bank recently and the analyst rescheduled with me 4 times total. She completely canceled on me the first day we were going to meet and only informed me 5 minutes before our call so I was basically left waiting for her for the entire afternoon. Happened again the next week when we rescheduled. She never apologized for it and assumed that I was just available the whole time, waiting at her beck and call. Is this an industry norm or is she just damned rude?

 

Ye it happens bro. No one is trying to be rude but understand that ur asking them for their time to do you a favour so don’t expect apologies if they have to cancel. Just follow up.

 

pretty normal I had a contact at a solid MM that we had to reschedule a few times all on pretty short notice. The first time I waited an extra hour for him to call just incase just for a text that read lets do sometime next week. Ended up having a call with him after a few attempts and tbh it went like shit cause I was new to networking and he had a shit week. Reached out again 5-6 months later had a call again (I improved a lot at nw at this point) and the call went as good as it could've outside of him giving me a job but getting other contacts for his team to calls have with leading up to applications.

She probs just had a rough week and tbh understand that to you the networking call is everything #1 priority but to the Analyst it's last on there list along with shoveling the shit. Just do not take it personally because like the others have mentioned these employees and especially on an Analyst level stare at computer for 12+ hours a day on a good day. So any time they aren't working is directly correlated to them getting less sleep/relaxation. 

 

30 minutes could be used to go to the gym for a quick workout after a 14 hour day. It doesn’t impact the deal process but these people have lives that they want to have outside of their work.

 

I’m all for helping in the recruitment process and I consistently talk to kids that didn’t even go to my school. That being said, there are most definitely times in a live deal process that it would be frowned upon to take 30 min away from desk to talk with a potential candidate. If seniors/clients are chasing for deliverables and the ball’s in your court, yeah, no way I’m being caught talking on the phone for 30 min. However, I can count on one hand the times I’ve actually needed to cancel/reschedule when compared to the ~25 calls I usually take a year

 

The issue is more that disappearing from the desk for 30+ minutes might piss off your ASO/VP if they just sent you work back and want it turned same day. you typically have a literal mountain of work to do, 30 minutes does make a difference

also 1 kid whatever that does make no difference, but I talk to 10-15 candidates a week in the height of recruiting season. I take the calls because others did for me, but sometimes you just have to roll with the punches a bit if people have to reschedule.

 

No 30 min does not make a difference.  Banking creates work for the sake of work, most of it is utterly useless and is never read or even remotely actionable from an investor standpoint.  I recently sold a company with Citadel for $2 billion which also involved Blackstone, so I know what I'm talking about. 

I understand that if you're charging several million for advisory work there is a need to make it look like you spent a lot of time and resources in return, and that's fine.  But stop pretending that 30 minutes will ever make a difference.  It would be better if bankers told clients we want to take our time to be more thoughful in our analysis and recommendation instead of having sleep deprived, mentally drained analysts staying up until 3am every night. 

 

It’s normal. When you’re networking, you’re supposed to be their bitch. You’re supposed to work around their schedule. These are busy people who are getting fucked by their seniors every single day and they’re taking their time out to speak to you. Don’t mean to be harsh, but part of being a good networker is learning when you’re supposed to be someone’s bitch. She’s not gonna apologize to you. She’s actually testing you to see if you understand the dynamics of banking and how this goes down.

Just keep being patient Continue trying to set up a time if she cancels just keep trying. Eventually she will meet you.

 

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