What are/is considered a "lifestyle group" at a BB in NYC?
Same as title, I keep hearing this, but how do you identify one, is it just low hours, low bonus? How many hours for it to be a lifestyle group? What about culture?
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not at a BB nor am i in NYC but i work at a MM firm on a IB team that is max ~60 hours a week and i haven't worked a weekend since last year. i would consider that a decent lifestyle group lol
i still get paid $105k base and a decent stub bonus ~$30k so it's not like i'm making less money either. just slightly lower bonus than street but for the hours, i do not care
Same exact boat here...makes me wonder if we're at same shop lol
What shop…
There are few lifestyle groups at NYC BBs. Too much pressure/resources for any group to coast for a long time. Even the ones low on the league table will be pitching a lot, seniors stressed out etc. ECM/DCM are more "lifestyle" focused across the street if either is of interest.
Target MM groups that are mid to lower on the league tables, ask analysts what the culture/lifestyle looks like and what they like to do for fun (they might offer up, well I work every weekend, so not much). I'd say consistently 70 or under is a lifestyle group
Corp banking
ECM is probably the most 'lifestyle' friendly, but not necessarily a 9-5. DCM also, but it really depends.
On the coverage side, Technology doesn't have the best hours, but--in my experience--the people tend to be a bit more friendly/laid back. Note: I am saying 'tend' not 'are' because there are Tech desks that are absolutely brutal.
The average IB analyst is working 80-90 hours a week. Anything averaging in the 70s is lifestyle in my view. I'm a VP2 and average around 70 for reference.
FSG
Across all banks?
Some more so than others, but in general yes.
"Lifestyle Group" and "BB" aren't really compatible. You might have certain old-school MDs who are allowed to kind of coast because of their tenure and if you work closely with one of them you can skate by without getting killed, but the JPMs and Goldmans or the world are earnings-motivated machines.
Contrary to popular belief, there are indeed many lifestyle groups (65 hours per week) among BB/EB, but people just don’t wanna say it out loud here. In general, FSG hours are relatively light (~50 hours). C&R can be decent too for some BB/EB
Bruh the FIG groups at BBs get absolutely murdered what are you talking about? Maybe if you're talking about like Sandler O'Neil or KBW but those aren't BBs or EBs
Think by FSG he means Financial Sponsors Group - not the same as FIG.
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