Why do MDs have to give you so much shit?
I actually like my MD and think he’s good at what he is does, but the guy is just always crapping on you for every last mistake or issue that comes up. It’s like pointing out the mistake isn’t enough but it has to come with something like: -“Do you want me to do your job for you? Because then I don’t need you” -“Come on this is basic sht” -“Are you a first year analyst?” -“Do you think this is acceptable work?” -“What the fck are we doing here?”
What’s the point of that crap? I don’t ever feel the need to speak like that to anyone nor do I think it ever help the team be better.
I'm definitely NOT saying that it's ok, but I do understand where this MD's behaviour comes from.
He does seem a little more "asshole" than most, but they are probably getting shit themselves. You get put under a huge amount of pressure at the more senior level, and your job becomes so much easier when juniors just execute flawlessly - it clears space for thinking, which is where money is made, and it will feel frustrating for him / her when they spend time on what they will perceive as more menial tasks.
There's an element of taking out your own problems on someone else to this. And it's not ok, or fair, but humans since the beginning of time have done it, and your MD is human. One thing which I have found (because other MDs have told me) that people see as particularly frustrating is when someone who screws up does not show remorse. I used to apologise (it might not be obvious to your MD that you feel like shit already about your mistake) in person or in writing for specific mistakes, and explain what I would do to stop that happening again - it was received quite well.
Forgot to mention that this is usually after giving very generic guidance and vague instructions. So not only are you not given enough instruction but you’re also crapped on and it’s after they are unavailable for questions.
Ok this is one of my biggest grievances. I'm not senior enough to do anything about it, but it does piss me off to see MDs giving hell to other people because they didn't have the fucking energy to give clear instruction (forgive the language which I purposely leave in, but it really does bother me).
Strategically though, I'd advise you to suck it up and play nice / remorseful unless and until you have the internal reputational weight to push back a bit.
If anyone on my senior team talked to me like that, I would leave. Why do you stay?
They don’t. They are just being an asshole.
MDs treat juniors so poorly in this industry.
Being MD is like driving cab in NYC for 30 years. You do this over and over all day, and see people making same mistakes over and over (like jaywalking on a green light on an avenue …). The analyst or pedestrian might do it once a week, but entire group does it all day, every year. And sometimes you blurt out why … just why
They see it time and time again, but that's not good enough. MDs that give constant shit are assholes. As an MD, you ultimately cover a single team with a handful (max a dozen) people. So if you work with other Seniors in your team to give direction and set processes in mind to improve work, then people make fewer mistakes. As much as you seen the same mistakes over and over again, most MDs do not have the EQ to realise 1) they once made similar mistakes, 2) shouting instills fear / anxiety and not awareness of your mistakes and 3) people are stressed / overworked so mistakes are likely to happen.
Do you actually want your job?
Most of these guys are shitty managers.They are used to managing high quality well paid talent which is why they can afford to be shit managers. They could never recruit and retain high quality talent on their own without a bank's brand to lean on.
IMO totally unacceptable to manage like that.
Sometimes people actually suck at their jobs in regards to attention to detail. I've had subordinates send me Excel models with huge errors and they think they are fine.
First, MD’s become MD’s because he/she is good at deal making or some skill and then put in a position to manage people. Dealmakers tend to have some edge to them. They are under pressure from above. You might not see it (C-Suite pressure to your MD), but it can be hostile as well (ie for each day the IC memo is late, $10,000 out of MD’s bonus or other penalties if there are mistakes). While I’m not defending being a dick, I understand that they are under a lot of pressure.
Not in my experience. In my experience, Analysts are nice, most Associates are nice, VPs for some reason become incredibly stuck up, nitpicky, unconstructive, rude, you name it. Directors can be 50/50. MDs generally nice.
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