What bank / group has the BEST WLB?
I would much rather work 70 hours at a mid-tier bank than 90 at a top-tier one. Are there any reputable banks or groups that offer notably fewer hours than is typical?
Theoretically, it is totally possible for a good group to offer better hours (shouldn't necessarily mean shit deal flow):
Imagine a good group hires 20% more analysts and cuts analyst comp by ~17% so that their total spending on analyst wages would be unchanged. Meanwhile, a 20% increase in analysts means each analyst could work ~17% fewer hours per week and the same amount of total weekly work would be achieved. So the group's productivity would remain unchanged and the bank's wage cost would remain unchanged; it would be net neutral for the bank. Analysts would get paid ~17% less (for example, $120k->$100k), but would also work ~17% fewer hours per week (85->71). Personally, this is a trade I'd be happy to make. I don't think it would come at the cost of attracting talent, because many talented junior bankers would probably be glad to sacrifice some comp for better WLB.
bump. I agree with this guy.
The problem is deal flow is extremely high right now. Even what used to be lifestyle banks/groups are getting worked.
You'd have to cut comp % more than the number of employees % you hire due to benefits; but yes I think this is the direction banks should head in.
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