My team makes me do work for no reason, has anyone experienced this
I work in coverage in Chemicals and for some reason my team is obsessed with doing tasks that do not need to be done.
Literally spent this weekend on a report that my bank phased out over 5 years ago from what I heard but seniors on my team still like doing it.
It gets worse because jobs that are meant to be done by the offshore team are sent to me, things like writing credit reports and some in house materials are now done by me which takes up my time, other analysts are learning the actual job but some days I am stuck on really long KYC checklists that again other teams simply send to the designated offshore team
I just do not get it, I spend most of my time not doing actual work but work that is created for the sake of taking up time, other analysts, associates and VPs have expressed shock on what they see me working on sometimes and its ridiculous because i'm not learning anything, some days i'm just writing ultra detailed 10 page reports on how robust our clients internal auditing practice is, or working on obscure KYC tasks that would be saved on the drive never to be seen again.
I am 100% trying to leave the bank because I can't stand this bizarre job anymore.
One of the VPs who make the decision to do this jobs said one day over drinks that his wife told him she loves it when he's at work and she's home alone so he's been coming into the office and finding things to do since mid 2020. That explains why he wants to keep busy all the time but it doesn't explain the rest of the team, they seem to have pretty normal lives but are still keeping up this insanity.
What do you guys think I should do
I’ve been on active deals since I lateraled to my bank a year ago and despite all the work related to that, I’ve spent countless hours working on tasks that get put into our shared drive and never opened again. It’s part of the job.
The senior bankers’ job is to make decisions that benefit the deal process or help win new work, which means they’ll decide they “may” need something at some point in the future or change their mind on how they’re going to execute even after the original plan is already completed, if they feel it’s best.
If you’re not on live deals at all then I’d be concerned but if deal flow is low and there’s nothing available for you then they’re just trying to keep you busy
You're not getting me, what I'm doing is not part of the job. Its made up tasks, I don't mind working on a model or presentation that would never see the light of day but what i am getting is KYC work and treasury related work that our offshore teams do for other verticals.
Literally other people on the floor have noticed this but its not their place to speak up, I spend some days talking to our team in india trying to see why a program or software isn't working correctly and documenting the progress in having the issue fixed on documentation no banker should ever see when there is an IT team for that.
When other teams have issues they get IT to fix it, when my team has issues, i have to work with IT hand in hand to fix it and even have been told to do their paper work for them
Got it. While I’ve certainly found myself doing admin work usually reserved for our offshore team, it’s not as egregious as you’re describing. How long has this been going on? Do you do any revenue-generating work whatsoever? Has there been an instance where a new deal has come down the pipeline and they opted to staff someone who was already staffed on another deal, instead of staffing you?
Is this Barclays lmfao
was thinking about lateraling to barclays, does this also happen there so i'll avoid?
If you think you're doing KYC for no reason, I don't know what to tell you...
Odds are you probably keep fucking up the administrative stuff so no one trusts you to do anything more substantial.
Dude that sucks for the VP
this dude is definitely at Citi or BAML.
Sounds like one of two things...
1) You don't have your team's trust and are intentionally not staffed on live deals because they don't want you screwing up
2) Dealflow is christ awful and you're at a Citi/Barclays type of bank with an ultra white-washed corporate PC culture where they still believe giving people busy-work is a productive form of management and way to keep Analysts engaged
del
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