1st day internship work until 2 am (fucked up)

At EB Right now. It's already 9pm talked to analyst who told me I'll be working until 2am on average (including today). I've been "reading" the compliance book since 2pm since there's not a lot to do on my first day.

I think I fucked up and chose the wrong profession.

Comments (109)

May 13, 2019 - 3:20pm

That's pretty crazy. Not all IB jobs are like that

Money can purchase freedom, if you have the guts to buy it

  • 1
May 13, 2019 - 5:05pm

Sounds shitty but use the time wisely. Dig into some models, read up on old pitch decks/deals. Master your excel knowledge and shortcuts. Learn VBA or something. Bond with the other analysts.

This is your time to shine don't waste it.

"Out the garage is how you end up in charge It's how you end up in penthouses, end up in cars, it's how you Start off a curb servin', end up a boss"
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May 15, 2019 - 10:51am

IDK where you work but this is not the case at all EB's - far from it in fact.

"Rage, rage against the dying of the light."
  • Anonymous Monkey's picture
  • Anonymous Monkey
  • Rank: Chimp
May 14, 2019 - 10:21am

The hardest choices require the strongest wills, and reality is often disappointing, little one

May 14, 2019 - 12:19pm

If it makes you feel any better, accepting a summer internship =/= choosing a profession. Taking a FT analyst job isn't even that big a commitment. I'm not sure what the current percentage is of analysts who exit IB after a two years to a different role, but it's pretty high, and most of those roles (PE, HF, startups, corp dev, etc.) are quite desirable.

My advice, FWIW: Work as hard as you can, learn as much as you can, and aim for a return/ FT offer, even if you wouldn't accept it in a million years. It will give you considerable leverage in OCR.

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May 15, 2019 - 10:53am

It's amazing how people trivialize sacrificing two years of your early twenties on this website. These should be the best years of your life and spending them slaving away at a job that doesn't make you happy / consumes your entire life won't be something most sane people will be happy they did down the road.

"Rage, rage against the dying of the light."
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May 15, 2019 - 3:02pm

^^^ This. Generally those that trivialize it are college students that have no perception of what it's really like... Can't blame 'em though. I was the same way.

I'd say that unless you genuinely enjoy/are excited by finance and are okay with having your life tethered by the whims of your seniors, there are far greener pastures than IB, speaking from experience.

May 15, 2019 - 6:03pm

No one is trivializing it, and yes, if your career aspirations have literally nothing to do with finance or business in general than you shouldn't spend 40 hours a week, let alone 80, in IB. But the ever replenishing cohort of people happy to take FT analyst jobs are making a rational present value calculation.

Most of us will work for 40 years before retiring, and the IB analyst job will open doors for the next 38 years that would otherwise be closed or really hard to crack open.

  • 7
May 14, 2019 - 8:05pm

About to pack up., It's 2am here. So far it's been ok. Team is alright, I like the other interns. MD seems like a genuine scary person. We can hear him scream all the time. I hope to never interact with him. Analyst recommended me to never talk to him and also adress him with Sir/Mr. If I happen to bumb into him.

Executive Director is funny. Yes, he's a little sadistic but still, he's funny. Even his racist and sexist comments are usually hilarious. Also one fucking hot Analyst. She seems like a extremely career minded person and kinda scary. But I would still smash.

Everybody has their toothbrush here. I bring mine starting from tomorrow as well. Also, culture is kinda heavy on the binge drinking after work.

Nevertheless, I don't think I'll start here FT. I'm already in contact with a few headhunters, including PER who wants to talk with me about a potential Investment Analyst role after undergrad.

Most Helpful
May 14, 2019 - 8:23pm
EUROPETARGET:

About to pack up., It's 2am here. So far it's been ok. Team is alright, I like the other interns. MD seems like a genuine scary person. We can hear him scream all the time. I hope to never interact with him. Analyst recommended me to never talk to him and also adress him with Sir/Mr. If I happen to bumb into him.

Executive Director is funny. Yes, he's a little sadistic but still, he's funny. Even his racist and sexist comments are usually hilarious. Also one fucking hot Analyst. She seems like a extremely career minded person and kinda scary. But I would still smash.

Everybody has their toothbrush here. I bring mine starting from tomorrow as well. Also, culture is kinda heavy on the binge drinking after work.

Nevertheless, I don't think I'll start here FT. I'm already in contact with a few headhunters, including PER who wants to talk with me about a potential Investment Analyst role after undergrad.

This group sounds miserable.

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May 15, 2019 - 10:56am

Where tf are you in Europe that it would be 2AM at 3PM EST? I'm smelling bull shit.

"Rage, rage against the dying of the light."
May 20, 2019 - 3:17pm
EUROPETARGET:

About to pack up., It's 2am here. So far it's been ok. Team is alright, I like the other interns. MD seems like a genuine scary person. We can hear him scream all the time. I hope to never interact with him. Analyst recommended me to never talk to him and also adress him with Sir/Mr. If I happen to bumb into him.

Executive Director is funny. Yes, he's a little sadistic but still, he's funny. Even his racist and sexist comments are usually hilarious. Also one fucking hot Analyst. She seems like a extremely career minded person and kinda scary. But I would still smash.

Everybody has their toothbrush here. I bring mine starting from tomorrow as well. Also, culture is kinda heavy on the binge drinking after work.

Nevertheless, I don't think I'll start here FT. I'm already in contact with a few headhunters, including PER who wants to talk with me about a potential Investment Analyst role after undergrad.

Damn bro that sounds like the worst experience ever. Good for you knowing to get out ASAP

May 16, 2019 - 10:17am

I've heard some horror stories and lived through one myself. A lot of boutique tier firms insist on the optics of long hours just to feel more legit. One of my friends told me his VP said straight up, 'we don't really get that much dealflow compared to the big players so we make up for it by working longer and harder'.

May 16, 2019 - 11:39am

Not at a boutique but had a principal tell me during my internship verbatim "this book is good but we didn't have to work hard enough for it, that's what we're paid to do we work really hard" and then tore apart the book with changes.... just about said no to banking right then and there

May 14, 2019 - 9:51pm

My first day of an IBD internship in an EMEA satellite office (guess which country) I strolled in at 8:30 AM excited to learn about high finance, only to leave the following day at 5:45 AM. On that remarkable orientación day I learned that as an intern I will spend most my time in the downward dog adho mukha svanasana position.

That proved to be true, as for the next nine weeks I worked every single weekend and on some protected lol Friday nights, massaging numbers in a model or making boxes rounder in PPT.

If you are on a similar boat, I suggest you jump ship once done. But in the meantime, learn as much as you can.

May 14, 2019 - 10:53pm

Just as a friendly reminder - buyside is actually on par in terms of hours if not worse. Grass won't be greener there. I genuinely miss the team aspect of banking a ton (though yours seems to suck ass so good call getting out)

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May 14, 2019 - 11:56pm

If OP accounts are true (I am not doubting the veracity of your statements) then this must be one of the most poorly run teams at your shop, and I'm in HK which is known for shitty work culture.

It makes zero sense to force an intern on day 1 to work till 2am. OP added marginal value (maybe moral support cracking a solid joke here and there?), more likely zero value add and you just soured his/her experience for the rest of the internship.

I respect my interns, and in turn they respect me and work their ass off if/when the time comes, people want to please and work hard when they are respected you respect their time. This sweatshop mentality needs to be wiped from our industry. No doubt we work long hours and they are required but there is a time and a place. Day 1 for an intern is neither the time nor the place, sorry mate for such a shitty introduction to the industry.

Dec 13, 2019 - 5:51pm

Agree. So I work in a niche field of project finance and somehow the team structure is like a consulting company, with people called managers and all that. My MD is very chill and once he told me: if you do not have anything due today and your comments are not coming in tonight, go home. Yes he's that sweet.
My manager, well, he likes to tell me "I might need your help" or "i might have something for you" then after an hour or two he disappears and comes back after 30 minutes and tell you he actually does not have anything for me. LoL.

May 17, 2019 - 5:39pm

Haha kind of knew it. I know a few guys that did RTH and also went through PER to get a MM PE analyst gig in munich. If you are willing to do LMM PE/VC,, you should do just fine!

May I ask you one honest question: Do you think you will work saturdays and sundays? Heard mixed stuff on this from RTH

May 15, 2019 - 9:00am

Guys from London/US, I've got some mates in EBs on the continent and have heard many similar stories. Sadly wouldn't surprised if this isn't exaggeration, I think it's fairly different over there.

Array
May 15, 2019 - 10:04pm

The culture in FFM is honestly disgusting. I worked at an MM there so hours weren't bad, but I don't understand why Germans have such a boner for facetime, useless shitty turns, appearing stiff and preppy as fuck 24/7, and thinking they're a BSD cuz they work in M&A. At BB IB in NYC now and the people are 10x more chill, and I say that as a non-American. WHU/FS students and graduates are probably the most insufferable people I've ever met in my entire life; the Stern/Wharton hardos are not even on the same planet in terms of how much I want to kill myself when I'm sitting next to them for 16 hours a day.

May 16, 2019 - 6:48am

Yesterday was fucked Up. VP told me I do great work and a few hours later he ripped me a new asshole because I did horribly wrong. He was about 5 minutes in his monologue when I told him that he opened the wrong document...
After saying sorry multiple times he told me that at least I didn't get hit by a stapler or mobile phone ... Awkward smile

Honestly, peers from my uni who are at smallcap/lmm PE funds and smaller vc's seem significantly better than me. Personally, choosing an EB and trying to get into an UMM PE Fond is not my way. I realized that chasing prestige/money is fucked up

May 19, 2019 - 7:24am

Company culture in Europe can be ridiculous sometimes. I've heard stories of Managers throwing lipsticks and make up boxes at interns at places like L'Oreal

May 16, 2019 - 8:37am
EUROPETARGET:

Yesterday was fucked Up. VP told me I do great work and a few hours later he ripped me a new asshole because I did horribly wrong. He was about 5 minutes in his monologue when I told him that he opened the wrong document...
After saying sorry multiple times he told me that at least I didn't get hit by a stapler or mobile phone ... Awkward smile

Honestly, peers from my uni who are at smallcap/lmm PE funds and smaller vc's seem significantly better than me. Personally, choosing an EB and trying to get into an UMM PE Fond is not my way. I realized that chasing prestige/money is fucked up

d

May 20, 2019 - 6:45am

You are right, HSG hardos are usually fine. FS/WHu aka wannabe academics however are insufferable

1488
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May 17, 2019 - 4:36am

I'd say give it time, it may or may not come to be what you need. When I started working at Timbu, I used to write creative pieces until I had to broaden out to more tech related works. Best of luck!

May 17, 2019 - 6:05pm

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"That was basically college for me, just ya know, fuckin' tourin' with Widespread Panic over the USA."

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