Recently caught up with a friend who is working at a middle market IB. He told me the most people in their group have worked 50 to 60 hours weekly for the majority of this year.
Is this the norm for middle markets? Curious what type of bank you work at and what hours you’ve averaged this year?
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Jef - 90+ average. as many 100+ as around 80. Handful 110+
What office/group are you in?
Those hours are straight up BUTTfuckville hours
Shawty you need therapy. When you’re getting asks from your Associate at later than 2 PM just have a magical “problem with your internet”
I'm sure that would go over super well during RIF season
At Keybanc/Oppenheimer/BGL equivalent. About 50-55 hours on average. Probably ~60 hours last year as An1.
Damn that seems sweet considering the pay
At KeyBanc, my group is doing 70-80 but I'd say we are doing much more than other groups right now
Analysts in other groups are doing 50 hours a week bro
I'm at the lower end of MM (Solomon / Cantor Fitz / Stifel tier) and typically work between 55-70 hours a week. Comp isn't great though, $150K base + $70K bonus for FY '22.
You’re telling me 220k for working 55-70 hours a week isn’t great haha - you’re basically a tech software engineer
Bro that’s amazing comp for the hours
Ha, funny because my bank gets shit on here a lot. It works for me though man! Thanks for the kind words.
That’s the ideal hours to pay ratio
I’m also at the lower end of MM firms. I’m at a satellite office (southern us) and average 50 hours a week +/- 10
Damn. I work for a large MM bank (not IBD tho) and hours average ~80 for this year (some weeks 40 hours, some 100+). Comp may not even hit 100K if they screw me over with bonus lmao
Averaging 60-70 hours this year due to reduced headcount, last year probably 50-55
Which bank?
RJ analyst, average is around 90 with occasional 100+. In the MM space it really depends on the team you are on as, unlike BB, there is a huge difference between teams. Top/sweaty teams can have brutal hours due to banks targeting volume over size.
Would that be a tech or industrials group? Feel like coverage grp would makes a huge difference so wondering if you’d be willing to disclose
curious how it is for blair/baird
My hours in MM were absolute shit. Those saying MM has a better lifestyle are talking about the boiler rooms/small-mid cap regionals that call themselves MM because they won a mandate of one manufacturing company that is 300M EV.
MM is worse, because most of the time the MM because they’re likely in product groups that are more gruesome. I was in M&A and while I was focused on executing, I was also working around the clock keeping up to date with the clients, while I also pitching to other companies, and potential buyers. Shit was tiring. 85-90 hour a week minimum.
Would I do it again? I honestly liked MM. I’m moving onto a much larger firm in a coverage group so I’ll let you know the lifestyle difference when I start. The skills i learned in MM have def helped me with understanding and leading M&A transactions.
Working at a typical MM bank (WB, Baird, Piper, RJ, OPY, RBC, Stifel, Solomon, MacCap, etc) in technology averaging about 70-80 hours a week, with generally at least one weekend day with minimal to no work.
Currently finishing up A2 at one of the banks above, most of my weeks look like
Mon-Thur: 10am-9pm but wfh after 6
Fri: Wfh and wrap up around 4-6pm.
Weekends: Between 5-8 hours
Usually average 50-60 hours like OP with some heavier weeks reaching 80, but weeks when hours are sub 40 as well. Guessing those who say they work significantly more consistently are either stretching hours, at a sweatshop or not efficient workers yet
I'd love to come to your bank; even at my lightest weeks, I'd say I'm still online until midnight M-Thu (obviously with downtime between turns).
Middle Market IB has such easy hours lol
EDIT: Replied to the wrong post.
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