Hi Everyone, I am interested in IB at an EB/BB as analyst in M&A or Tech located on Wall Street/NYC
Do IB analysts ever get to travel on company business or is it on your own for vacation?
If so, how much per year and is it on Business/First Class?
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If you end up on a technology team at an EB you'll only travel by SpaceX rocket. Middle market can suck it up in AirEmirates.
I’m many years removed from being a BB analyst, but I traveled extensively and mostly international back in the day. This was not typical and primarily due to a couple of PE funds who wanted me on all of their deals. I was in sponsors coverage, and our European team was not well supported at the time.
Our rules across IB for travel weren’t really title dependent. Within the US it was economy. Coast to coast in the US or international was first class. We could only stay at “approved” hotels, but they were usually the best hotels in a given city anyways.
The travel was done at a luxury level, but I grew tired of it pretty quickly. I would typically get notice day of for a flight from NYC to Europe mostly in the afternoon. MD’s assistant would come by at like 2pm and say we need you on the 11:45pm flight to London for a meeting tomorrow AM. It was always last minute and exhausting, and it made it hard to manage a personal schedule. On the plus side, if the meeting was on a Fri or Mon, we were allowed to stay for the weekend.
I campaigned hard to get moved to London to cut down on travel, plus London is awesome, got approved and then ultimately denied. There was a bunch of bureaucratic bs involved. Our group wasn’t approved to add headcount in London so they were using me out of NYC as their resource. I was spending more than $200k in travel per year (book a day of 1st class ticket from NYC to London...back then it was about $12k a pop). Citi, my employer at the time, was willing to effectively pay for a non-existent analyst based on my travel but wouldn’t just move me to where I was primarily working in London/Amsterdam.