Sweatiest Shops - 2022 Edition
Which firms are the sweatiest post-COVID and what are the hours like? Has any place superseded Moelis LA in being the ultimate slaveship?
I'll start: have heard that Ducera and GS Industrials have been notoriously bad
Trending Content
| +135 | How to stop feeling like shit for not making it in IB? | 52 | 3h | |
| +101 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 46 | 3h | |
| +66 | Updated LA Banking Scene (2024) | 49 | 7h | |
| +58 | Why Is It Called Investment Banking? | 19 | 16h | |
| +38 | Ranking banks that went under | 19 | 11h | |
| +32 | A strategy for SA applicants late to the game like myself | 15 | 17m | |
| +31 | UBS Actual Buyside Exits 2024 Post-Integration | 9 | 3d | |
| +30 | Burnt Out M&A ASO | 14 | 42m | |
| +29 | Relevance of A-Levels for U.K. London recruiting | 21 | 6h | |
| +26 | Series 79 Help / Tips to Pass The First Attempt | 11 | 1d |
Career Resources
Definitely not FT Partners ($140k base as an1 btw)
FT Paradise *
Del
Have actually heard from friends some weeks have been 15-20 hours because of deal flow recently
Deal flow is still pretty strong actually, but they've really put their money where their mouth is and hired enough juniors to space everything out and make the role/hours a lot more reasonable. It should be telling that in a thread with the opportunity to complain about hours nobody has actually commented FTP sincerely - who knows if this will change come the next big wave of FinTech enthusiasm but for now FTP is a really great place to be.
Source:I work here
Apparently Moelis (at least NYC) has somewhat improved according to some of my friends there
LA office continues to be a sweatshop
Networked with Moelis LA for SA and they seem crushed over there
Multiple buddies currently at/exited LA said the notion of it being a sweatshop is mad exaggerated
I think compared to other LA banks it is definitely a sweatshop
I am at Moelis although not US but some A1 in NYC reply to unimportant emails at 5-6am so would think it’s still pretty bad. I would say LA the worst then Dubai/NYC.
Other locations like Europe/Asia have improved though I think
Can confirm Moelis Dubai is up there with Moelis LA in terms of sweatshop hours, junior culture is good though
Can confirm NYC has gotten better. Typical week is 80-85 (upper mid bucket), but super flexible work from home (as of summer ‘22). I’ve only had a few 100+ hour weeks and only one 120 hour
100+ hrs week is not normal though, 85 hrs is still a lot on average, nothing to be happy about.
Del
Citi Houston
Anyone know if Lazard NYC is?
Connected with an alum who was just about to jump into MFPE who almost explicitly told me to take a different offer bc they cranked juniors.
Is this true for all Lazard groups or are some notoriously bad?
Thought on culture in their PCA group?
EVR Tech, Industrials, and Communications we’re railed
What are hours like? Thought Evercore traditionally had good hours.
Have heard it has gotten brutal
Traditionally as in two years ago before COVID
Before COVID and a bunch of new top-level hires...
EVR - across all the teams (including Energy) got clapped. The turnover in 4 of those teams at mid/senior level was high (feel free to LinkedIn search this) - know a bunch of bankers that left the industry/joined BBs, etc. for a variety of reasons. (One of my close friends moved from EVR to JPM, a move that they wouldn't have ever contemplated pre-2021 given how political JPM gets at mid/senior level and lack of WLB). They have been heavily recruiting laterally at senior and mid-level since mid 2020 and that has significantly changed the culture. Lots of new senior recruits are ex-mid-tier BB people (they had a hiring spree specifically from Citi, BofA, Barclays) trying to peddle deals - definitely not a good look for the culture. In some of the groups, more than 50% of the team at mid-level joined in last 18 months. It might change again (who knows)- but EVR right now is not what it was 2 years ago.
Luckily all in analyst comp this year was still around $240k (120k base 100% bonus) per the bonus megathread, so hopefully makes up for the culture difference against 45k BB bonuses we have been seeing
Goldman FIG is getting our assholes eaten by hours
which subvertical?
Damn y’all getting your assholes eaten??? That sucks bro…
Anyways y’all hiring??
Yeah, man that sounds horrible... can I cum?
It's not all bad, at least you'll avoid skidmarks
is FIG that bad? spoke with like 5 people while recruiting and they said they had protected Saturdays, went home early (no later than 9pm ish everyday), and had good culture
Was that just all a lie lmao?
I'm in Specialty Finance and my asshole is getting eaten BIGLY
I don't know who needs to hear this but saturdays are protected unless you are working on a live deal
...and the job is working on live deals
Go home at 9pm*
*and then log in from home to continue working for many more hours
Gs CMG
Really? Like how bad?
hows comp compared to the GS industry groups?
BofA is like Moelis nowadays in terms of hours and prestige
A real up and coming bank right there
Congrats on BofA
Heard Evercore Chicago is real tough on juniors
JEF and Citi Houston
Why is this getting downvoted
Every time I say something remotely not positive about JEF Houston I’d get downvoted like crap
Rich Handler and his spam accounts
Excellent question.
Jeff Houston will kill you from what I hear. We should start a charity for their therapy copayments.
Gs industrials tops the list by far
JPM HC
Is that West Coast or East Coast?
dudes be like "my group is the sweatiest"
source: trust me bro
Dude has one bad week - bankings a hard job
JPM Houston
Most shops in Houston, specifically JPM/Citi/Jefferies
Okay, which are the sweatiest shops in London
Lazard for sure
Does a shop being sweaty also means it has a bad culture
GS classics, MS M&A, JPM M&A, Literally any group in the EB’s (EVR, CVP, PJT, LAZ, PWP, MOE), Jeff Houston, HL RX, Citi M&A, BofA M&A/Lev Fin
*(EVR, CVP, PJT, FTP, LAZ, PWP, MOE)
in one of these and not sweaty at all
Hl rx isn’t sweaty at all
HL RX is all but sweaty
how bad is PJT (particularly FIG coverage)
BMO M&M, RBC O&G
congrats on FTP
RBC M&A - all of the bullshit they feed you about the friendly culture but the reality is 80 hours is minimum and 100 is common
Real ones know this is the true answer
Sweaty isn't necessarily bad culture but agree that RBC M&A hours are as bad as some of the known sweaty groups. RBC PU&I and FIG as well. Just hours though, I know some of the PU&I bankers are happy enough with their group culture-wise.
From what I’ve heard, Goldman Houston is an absolute nightmare.
Coincidentally this whole thread, out of 34 comments, only has two comments giving actual numerical data. One of them is FTPinsider talking about his $140k base...
How are Evercore PCA hours?
Stephens
Any group at an EB
Idk, dawg... I fuckin chillllll
Citi Power NY
Doubt it - know guys there that are absolutely chilling
Hard to generalize but would it be fair to say most P&U groups, Houston-based groups and EBs would likely be sweaty?
JPM Energy NYC (= power / renewables coverage) is one of the more lifestyle groups @ JPM
I’ve heard Macquarie is really really bad. At least in Europe.
They underpay too
Not this past year - heard it was one of the highest paying banks in London.
Salary is gbp 70-85-95 for AN1-3 and bonuses were 100%+ this year, even higher for top bucket.
BGL
I've heard this from so many people. What makes this true?
Never worked or interviewed here, but know people who have: really small (though growing?) firm that's headquartered in Cleveland pitching for super small deals that they don't win, so they just keep pitching and throwing shit at the wall to see what sticks.
DB healthcare
What about consumer?
RBC Calgary…
What sectors do they do there? Or is it product groups?
Just an energy coverage team
Guggenheim middle market and TMT are absolute nightmares
what makes u say that
What's their mm group like vs normal?
Definitely Gorman Stanley
Greenhill RX
major facts!
GS industrials, yes. But GS in general.. like wtf getting the crap beat outta of me here + other analysts.
Anyone have any insights on the HL Industry groups (not RX)?
Honestly, HL is pretty great. Days start earlier than most banks (9 AM, sharp, with emails coming before that) but they also end earlier. Working past midnight is rare.
Very professional set up, I'm happy here.
Doesn’t Houlihan have a mandatory work day on the weekend or something like that?
Are you in LA or NY? Heard NY starts around 9am but LA usually starts earlier. Do you know if that's true?
Curious what office you’re in?
Rothschild NY Infrastructure, Power, & Renewables and Rothschild Chicago in general
Not IPR but Industrials
Is IPR not chill? They don’t do anything. Never seen them around or knew they had a group before today
Are you working in the industrials group? How are the hours and what level are you?
Rothschild Chicago is the ex-GS P&P guy and I heard he was rough at GS...
RBC M&A
.
Stephens, 85+ hours are standard
Agree. Stephens is probably the worst in the MM space. Especially in Atlanta. Turnover at the junior level is high
LionTree hands down
Delete
JEF Houston for sure place is bananas
Stephens is very sweaty at the MM level, 2-3 AM nights and weekend work regularly.
Baird, most groups but industrials in particular. Consistent 2/3/4 am, Sunday through Thursday, Fridays mixed
They’re good about blocking holidays and shit but at a severe cost. Morale pretty low unless they blow bonuses out of water again
Damn, I thought Baird was doing better.
I have heard about low morale. Can you provide more color there?
yeah dawg working till 4 AM most days has you questioning your sanity and if it's worth it = low morale
The people are truly great as humans, that's what makes it such a strange dynamic
The hours can be absurd and being in communication with friends at other banks drives that point home. How are my buddies at Moelis/MS/Barc/Blair/Lincoln routinely appalled by my hours? How can my friend tell me he's worked past 2am "a couple of times, definitely under 10" in the past year, when I have worked past 2am 90% of my nights Sunday through Thursday since April?
Baird my be THE best bank to be a career senior banker and I want to be here long term which was always my plan when I joined as an analyst, but the reputation among juniors is struggling. To be clear, there are interns that chose not to come back to Baird (and went to other banks) specifically because of the hours. That really shouldn't happen imo
which HC group has best WLB?
.
Raymond James, SVB
Which city is Raymond James HC team in?
Honestly, HL isn't terrible. It used to be the worst, but they've made significant changes and the "no work after midnight" policy is pretty respected.
Heard MTS is pretty good
Any shop in Calgary
SVB SF. Bunch of absolute sweats
DB loan operations in Jacksonville
Anything with the name GS, Jeffries, or Baird, JPM O&G, BofA Sponsors, PJT RX, Lazard PC
What's Lazard PC
Private capital advisory
How can Baird be viewed as a sweatshop? Everyone I met there seemed so nice - like they are "not assholes"
https://www.wallstreetoasis.com/forum/investment-banking/multiple-baird…
Animi corrupti vero veritatis numquam magni voluptatibus rerum. Accusamus deleniti commodi sunt consectetur numquam.
Non assumenda nisi est maxime numquam saepe doloribus. Quos est quod ipsum et perferendis aut. Et quia sunt exercitationem eligendi. Magni ut reiciendis deleniti modi rerum ea quia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Voluptas sed beatae delectus est et. Consectetur et blanditiis sit eligendi voluptatibus illum.
Provident dolores totam eos dolores et voluptatibus quod. Sed ut placeat tempora qui ipsum quos. Voluptatum voluptatem reiciendis quod magnam optio libero autem. Animi similique occaecati veniam et aut incidunt.
Aut molestiae porro dolore atque. Repellat nulla a odit. Voluptas quaerat molestiae voluptatem assumenda aut facilis voluptatem ea. Cupiditate animi autem nam vero aspernatur dolorum possimus.
Accusantium ipsum dicta qui voluptatum nulla minima. Nemo quibusdam quam exercitationem velit dolorum. Vel deserunt quasi vitae aut. Quisquam aut placeat excepturi asperiores nemo. Numquam ea blanditiis voluptatem eos rerum soluta quod.
Pariatur non harum culpa quibusdam. Impedit illum optio culpa maiores quia at. Ullam quos voluptatum id. Sint asperiores deleniti ex quo. Fuga dolores amet inventore ut voluptates. Ea quam suscipit sit harum. Accusamus ipsa officia enim ut et quibusdam.
Reiciendis velit aperiam veniam deleniti aut corrupti ut non. Occaecati fugit eum harum vel aut eum. Qui magni dolor dolores ducimus reiciendis. Odit et nemo enim tempore.
Porro quisquam nesciunt laborum minima dolores. Impedit culpa aliquam dolorem quia aut culpa vero. Voluptatibus eius recusandae adipisci distinctio et rem.
Incidunt distinctio perspiciatis placeat sunt. Laudantium et nemo ipsam cum quasi et. Voluptatem rem quos sapiente aut eum odit.
Exercitationem recusandae est consequuntur numquam saepe sint. Rem facilis quia enim blanditiis qui. Officiis a ex consequatur. Iusto dolor numquam nam quo cumque.
Aut autem dolorum sequi magnam. Impedit iure repellat laboriosam. Sapiente eveniet debitis consectetur vitae sed.
Et est nihil ad soluta quae. Culpa fugit aspernatur harum quam architecto totam. Autem pariatur similique est dicta fuga nam.
Neque quo in aliquam quis laudantium debitis quasi. Amet sit repellat at veniam. Est sunt cumque fuga a ratione. Deserunt iure molestiae ea iusto aperiam nihil occaecati vero. In aliquid tenetur labore.
Deserunt consequatur ut occaecati. Voluptatem tempore maxime eum quaerat incidunt.
Dicta et molestiae iste vel soluta animi possimus. Quia esse voluptatem aut consequatur vitae. Accusantium sapiente molestiae perspiciatis ipsum iste beatae. Ab et aspernatur atque quisquam at labore sed eaque. Eligendi recusandae voluptas expedita ut quibusdam corporis iste. Ipsum culpa sint unde magnam vel alias accusamus quidem.
Ea maiores quia laborum non. Dicta sit id nemo hic. Accusamus corporis sunt ratione facilis placeat est voluptates. Enim et quas iusto consequatur. Dolor et voluptates blanditiis ab consectetur. Expedita voluptate ratione eos omnis. Et ex veritatis quos voluptatem repellat et.
Corporis non velit illum consequatur qui. Esse quisquam aut sequi debitis. Perferendis et et ipsam ut doloribus consequatur.