Work/Life balance in IB
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Sounds like Jim Donovan. In that respect, it makes sense.
yes it is him lol, guys a psycho in my books
I think too many people want success without putting in the work. I find him to be a very articulate speaker.
You called it 3 years before everyone else lol.
I don't really understand his comment. WLB is a daily thing. You either have it or you don't. What does yearly WLB even mean?
There is perceived image of what investment banking is and then real investment banking, which people who have been through investment banking know.
There is a reason why so many people leave 175K-200K jobs at 23.
Why do you occasionally appear human on this sight but then 2 seconds later post something comparing MDs to M.D.s ?
Troll that wants to get his licks in everywhere. Sounds like someone needs more of a challenge
It’s to lighten the mood.
All of us have likely worked at some point with MDs (Managing Directors) or a colleague and get absolutely demolished by a MD.
I know on my end, the analysts often say “the MD wants this by tomorrow, it’s going to be a hard night with a face that is so sad you just want to hug the guy”
By kinda poking fun at the whole “MD” title by confusing them with M.D.s, is just to lighten the mood. Medical doctors are considered hero’s in today’s society while MDs are considered by many outside of Wall Street as rich mean bankers (re: Occupy Wall Street).
I finished at 5am because my VP started Reviewing a model officially due this morning at 10pm tonight. I have 15 pages of markups waiting for me in the morning. Here is your WLB
Theory is correct. Implentation is wrong and misguided.
I have had to cancel family vacations, gone months on little sleep to win deals. Hell, even now I still pull very late nights. However the difference is this. True WLB meand that when your out, you are OUT. No phone. No email. Nada. On vacation now (first in two years) and glanced at my phone and saw 400+ email. Dont care. Everyone who NEEDS me can call. If they do, it has to be a true emergency. No one had called yet.
That is the THEORY behind the statement. However, abusive managers do not respect this and that is why people get pissed.
If it is important enough to take away time from my wife and kids for 30 minutes on a live deal. Fine. Working on Excel models in my RV. Fuck off.
I’ve heard that MM is generally less hours (albeit not by much; 70-80 avg vs 80-90 avg).
Is this true?
Investment banking is investment banking.
I feel with increased salaries, the high hours are almost justified, but in a negative way like, "were paying you so shut up"
I fully agree with the later sentiment but I slightly disagree with investment banking is investment banking (if considering career banking).
I know some boutiques are significantly less hours but generally less comp.
But MM pay well enough so even ~10 hours less a week on average would make it a desirable place for career bankers.
Seems like a psychotherapist may appreciate speaking to him imho
To be fair, the lack of WLB is part of the brand? It's being sold to clients, sometimes quite explicitly so.
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