What does "extremely busy" mean for Evercore?
Joining a group where the analysts I have spoken with are extremely busy and a lot of activity is occuring. What are your thoughts on how many hours a week this translates to? I know that EBs run lower headcount and analysts hold more responsibility, so I knew the baseline would be higher. Baseline should have been around 75 to 90 a week, but that was before this recent uptick.
168 hours a week
92.5 hours a week according to DLJ:
https://www.wallstreetoasis.com/files/DLJ%20Too%20Busy.pdf
92.5 (weekday) + 21 (weekend) = 113.5 hours, based on their calculations.
Their assumptions are 16 hours a day + time to grab food and travel on top of those 16.
Wow lol.
they are busy
Evercore analyst - 80-95 hours is the range at all times. Even if there is not a lot of transaction work, seniors keep us busy with consulting like work. We are understaffed. Help
do you find the consulting like work more interesting than deal execution? Have always heard that this is the differentiating factor (besides money) about EBs that makes the experience 'better."
Are you able to make reliably for the coming weekend? I realize this is group-dependent, but I was just wondering whether the protected weekends are enforced well even for the sweaty / bad culture groups like tech and industrials.
The energy group is very busy right now. 100+ hours a week since summer.
Lol that sounds terrible
How is that even sustainable, I’d quit 2-3 months in
It’s not. They’ve had a multiple analysts bounce before 6 months the past few years
Did you handle the PureWest sale?
Energy is undoubtedly the sweatiest group at most EBs too
Somewhere between very busy and no capacity
The real answer is it’s 100% group dependent. Very busy for any of the TMT teams is going to bed at 5am and all weekend long. Very busy for certain other groups would be 10pm nights and sending an email on a Sunday evening. Some groups aren’t allowed to leave the office before midnight, others are all gone by 6pm (if they even come into the office). Any generalized answer for the entire firm is inaccurate.
Dm me with that 10pm group tho
Would just look for most of their product groups outside of RX
Some groups aren't allowed to leave office before midnight? Wut?
There’s a group where all the VPs stay in the office late so it’s highly frowned upon to go home and WFH early. Also, if their analysts aren’t there by 9am the next morning, their staffer will call them asking where tf are they
Very group dependent. Friend in Tech group says 5am is an average sign-off time, with all nighters common. TMT sounds like the ultimate sweatshop.
When are they expected to be in office? That doesn’t seem physically possible without drugs lol
Within investment banking, very busy = 80-90 hours per week
HC and Rx had most of my networking calls after 9pm. Seems to be the new 1pm for them
That’s an early night…the standard is 1 am sign off for most good EVR groups
Don't know anything about RX but health care has actually been the zero facetime group of the firm since COVID and is probably the last top deal flow group that has a good culture (media was in that bucket but COVID changed them for the worse). There's certain weeks where you can walk around the health care floor and it's deserted. And when they're in the office, most people are out by 7 PM. They have all nighters still but most people in that group are in bed by midnight if their projects aren't blowing up.
Healthcare has fantastic proprietary deal flow - no pitching. Definite too group to be at
How are the hours within Private Capital Advisory?
Same or if not worse than m&a.
PCA made the most money for Evercore and is by far the market leader in secondaries - it’s absolutely crazy here and politics are insane…
Could you elaborate on the politics of PCA? Or could you allow me to DM you? Interested to know what it is like with the new SCS group (sub-vertical, same as GP and LP) and overall expansion.
I heard comp is the same, if not more than evervore m&a? Is that true?
Can you elaborate on the politics? Curious if you would recommend joining.
Evercore is the best hence more work
Heard Transpo and Infra are terrible
The real question is - what does extremely busy mean for Moelis?
Moelis is building a homeless shelter for the analysts and associates if that gives you a feel
Worked at Moelis a few years ago. There was a blacked out office with a cot in it. The cot saw a warm body every night, sometimes people took shifts. Saturday and Sunday were basically normal work days, where it was expected that you were in the office and working at least 12-8. Weeknights it was a blessing if you were finished by 1am. It had to have been one of the worst experiences on the street then, although sounds like EVR is giving Moelis a run for their money these days.
This was one week timeframe as a 2nd year - had a large buyside that blew up:
All nighter from sunday to monday, then finish at 3-4am for the whole week including weekends. I think I clocked in actual work of 120+ hours as even with the all nighters I still didnt have enough time to finalize the model in a short period of time.
Unfortunately the following weeks were also 80-100 hours without rest - probably one of the worst weeks of my life.
What are the sweatiest groups in M&A? Sounding like TMT, Infra, Transpo?
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Tech gets grinded, but let's chill out with 5am average sign-off time... That's physically impossible on an average basis.
Extremely busy for any of the sweaty groups translates to average 2am sign off time (still horrible but the 3 hours makes a huge difference) with total hours anywhere from 85-105 depending on how much you work Saturday / Sunday
Source: In one of the sweaty groups
Are you able to reliably make plans for Friday evenings or are protected weekend policies not there / not enforced?
What the fuck are you even flung until 5am 5 days a week? That screams seniors are just assholes with no time management skills
Transplant MDs from mid tier BBs who pitch non-stop even when deal flow is good. This is why
Sweatiest groups in order —
Tech (NY)
Energy (Houston)
Industrials
Tech (Menlo)
Media
How about infra
infra has one of the worst cultures/hours but they like to brand themselves as having good culture during matching. their partner doesn’t support analysts leaving after two years. his expectation is that analysts stay a third year. one of the extremely rare groups at evr that doesn’t support analysts recruiting.
media is worse than Industrials in terms of hours from what I’ve seen. Industrials ppl take their protected weekends way more seriously than the media people who don’t know the difference between a Wednesday and a saturday. Both are also fratty but industrials is fratty in the football and beers douchebag way while media is like a preppy but slimy wolf of wall street boys club
Are the protected weekend policies enforced well for the people in sweatier groups in NY?
any more details on transpo?
any more details on transpo?
From what I’ve heard it’s a dog shit group- really bad hours
What about C&R? Seems like the one group never described as sweaty
Heard they laid off recently bc of poor deal flow
Can anyone confirm?
The question should be what is their chillest group with best hours?
Alternative Asset Managment and Insurance are the best culture / WLB teams that still have fantastic deal flow (and they have strong exits still despite appearing niche)
Is alternative asset management what they call their sponsors group?
How big is the insurance team
How is power & renewables?
New group head from CS - probably sweaty and 1-2 AM sign off typical from people I’ve heard there secondhand
Any idea if this is still the case?
Tech group brings in 25% of firm revenues
Is that a new group? Only heard of infra, M&A and rx
mining?
Evercore always sweaty
Do people ever enjoy their experience at evr?
Menlo Tech is insane and super top heavy. Just announced another GS senior transplant.
How about Menlo Health Care?
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