Working 5-10 Hours / Week for Past Several Weeks: What are your weekly hours during COVID?
I've been working 5-10 hours / week for the past several weeks and am getting scared I am being let go even though I work at a BB that promised publicly that no one will get fired this year. All of our deals are stalled and we're having meetings here and there that I've been staffed on but other than that, I haven't had almost any work to do on a daily basis (most days, I'm not even opening up my work laptop or even getting emails - one day I will work for several hours but that's it). I have been recently getting emails every week or so by associates working on other projects saying the staffer told them I have capacity and can help with some admin / boring tasks like creating profiles and pulling a bunch of logos or data from FactSet or Bloomberg. It's weird because I have a few projects that I've been on for weeks and every time the junior team follows up with the senior bankers on them, they always say they are swamped and can't even look at our work until the next week.
Am I alone in thinking this way? Should I be worried?
Deals are slow because everyone is trying to wrap their heads around the situation and holding tight for the time being but rest assured that there are still plenty of companies that are sitting on a lot of cash. BBs are likely not going to let go of their analysts because who the fuck will do all of the work when it picks back up? Remember that the only real sources of analysts are SA programs or OCR, both of which are up in the air right now, so BBs will try their best to hold onto the analysts that they DO have, especially when retention has always been an issue to begin with. Just do the work that is asked of you, be available when needed, don’t bitch when asked to pull logos (and don’t pull the blurry or pixelated ones ffs)
I really don't know what to do with the extra time. It's really crazy how little there is to do.
I don't know about BBs not firing since Cantor is firing people L and R. Also, heard Stifel is taking care of a few chaps.
There’s a big difference between a BB and cantor. And weren’t their cuts from back office or other units, not banking? You should be fine
So long as you're not at UBS / DB you should be alright
seems like in my experience, there is either literally zero things for me to do, or I’m working til midnight or later. you’re probably just in that down period, but keep volunteering and ping your bosses, give them a call to say hey. let them know you want to contribute more. it’ll be ok bro
Enjoy being on the sell side for once. PE is tough right now. Working more hours than usual, mainly around portfolio monitoring / surveillance, no new deals- not fun...
Consistently 70-80 hours per week, most likely to bump up to 90 hrs the next two weeks
My senior manager and Lead just left the firm - I am basically having to do the work of someone 2.25-2.5x my pay grade.
OH, what happened to them? Think they got asked to leave? Lots of shifts are going to be happening if they haven't lareyd happened.
They decided to leave because they have kids on the way this fall + consulting and travel risks during this time is not a good place to be at when your wife is expecting.
Consistently 70-90 hours a week....but my sector is on fire (in the not good way).
mon-fri wake up at 7am...quick shower and sit down at desk 7:30 till futures close at 5pm...take a nap...wake up at 6pm for futures open and trade until 10-11pm and goto sleep
so, 12 hours a day, mon-fri plus the occasional 3am wakeup when levels get triggered overnight at the london open
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