What’s the current state of IBD at BofA?

Based on the most helpful WSO content, here's what you need to know about IBD at BofA in NYC:

1. Hours and Culture:

   • The culture across BofA's IBD groups has reportedly improved in recent years. Analysts and associates in some groups are now working fewer hours compared to the past. For example, many A&As are working less than 80-90 hours most of the time, whereas it used to be 85-105 hours consistently.
   • Protected Saturdays are a real thing, and they are generally respected unless there’s critical deal-related work. Sundays are increasingly reserved for essential tasks like preparing for Monday morning meetings.
   • There’s also been a push for a 9 PM work stoppage on Fridays, which is a positive shift for work-life balance.

2. Group-Specific Insights:

   • LevFin: Known to be a competitive and demanding group, often described as "sweaty" due to the high deal flow and intense workload.
   • FSG (Financial Sponsors Group): Generally regarded as a strong group with good deal flow. The culture is considered solid, and hours are comparable to other top groups.
   • REGL (Real Estate, Gaming, and Lodging): Specific details on this group weren’t highlighted, but it’s worth noting that culture and hours can vary significantly depending on the MD and team dynamics.

3. Headcount and Hybrid Policies:

   • Some teams at BofA are noted to have bloated associate/VP headcounts, which can sometimes alleviate the workload for junior bankers.
   • The firm has also embraced a hybrid work policy, with most employees coming into the office 2-3 days a week, typically between Tuesday and Thursday.

Overall, while some groups at BofA can still be demanding, the firm has made strides in improving work-life balance through initiatives like protected Saturdays, Friday work stoppages, and hybrid work policies. However, the experience can vary significantly depending on the group and leadership.

Sources: Information on BofA FIG, Investment Banking Hours - What to Expect?, Investment Banking Hours - What to Expect?, London IBD Associates: hours?