PM me if you're interested (include your email and I'll send it to the reporter).
More info:
Here's a little summary about the story and what I'm looking for:
I'm a features writer at New York magazine, and I'm working on a story investigating the experience of young bankers (primarily analysts and associates) today, as well as their recent efforts to advocate for better working conditions, and what kind of response (if any at all) those efforts have received from senior managers and banks. I'm speaking with as many people as possible who are currently or have recently been analysts and associates — anonymously is totally fine, and I won't use any potentially identifiable info — in order to create a rich and detailed picture of what they go through in their jobs and the culture they work in at their company, as well as across the industry.
I'm exploring questions such as: How have working conditions changed or evolved in recent years, particularly during the pandemic? What's driving requests for better conditions and treatment and are they having an impact? Why are more analysts and associates leaving (or considering leaving) their jobs or the industry entirely, and what effect does that have on those who stay? Are banks' new comp increases and other perks making any difference? What impact does the job have on mental (and physical) health, and are banks responding appropriately?
Again, I'd love to speak with anyone who has been an analyst or associate at a bank (anonymously! unless they want to be on record) about their experience — each person's own story and anecdotes are valuable as I work to create a deep composite portrayal of what's going on now and broader trends affecting those roles at the moment.
GS13 May now speak to you.
I have one person so far, anyone else? Let me know by early next week (send me a pm with your email) and I'll put you in contact
Can you mention in your article that most firms only raised salaries for IBD, but not S&T or ER or AM.
While IBD has the worst hours, the other ones certainly work crazy hours as well, and often these departments generate more revenue for the firm as well.
Some good press could maybe convince firms to raise salaries across the board like GS13 articles did for IBD
I hope you guys get your salary raises but it probably shouldn’t have been the same in the first place
S&T has the lightest hours by far and AM works nowhere near IB hours.
IB gets cranked the worst and gets the most press - switch to IB if you want on the gravy train
IMO it's a bit greedy to be expecting to have a match with IB. Let's be real the reason you went into S&T is either for the better WLB or because you couldn't hack it in IB recruiting. The tradeoff for not being a prime candidate or lower hours should be a lower total comp.
Again, I never asked for a match, just a raise.
And no, I did an IB internship and felt like I wasn't learning anything except how to use Excel and PowerPoint quickly, whereas the whole reason I got into finance was because I am interested in the markets. That bank asked me to come back and I got another offer from a different Boutique with great WLB, but chose S&T because it was a bigger name, better pay (yes I'm getting better total pay than average IB pre-GS13 raises), and I'm doing prop, which is rare. Also move to a new city which I couldn't pass up on.
The only reason I pursued IB in the first place was because of my interest in PE.
If the pay is so good why beg for money? Banks pay bankers more because their skills are more valuable and they can go to boutiques(no equivalent in S&T). Talking about revenue generation without mentioning balance sheet risk is also disingenuous.
Not begging, simply asking but okay lol. And why ask? Ummmm, because I want more money... Is it that hard to understand?? Post GS13, IB is def getting paid more, which wasn't the case in the past. I understand if IB is paid more, but for the whole department to get 10-25k upgrade and the other departments get nothing is dumb asf.
And skills more valuable? That's a joke lol. It's not about skill, but about time commitment.
Like I said, I still understand if IB is paid more, but a raise would still be nice given how stagnant they have been while inflation is high and markets have been more active than ever.
For the B/S risk statement, can you provide any economic example where compensation is tied to risk rather than profit? Actually curious b/c I have never heard anyone mention that as a reason for the pay differential but I'm not closed to the idea. Just sounds more theoretical rather than realistic.
This shit is happening in law, consulting, tech - why do they need to write an entire story about it?
Just go watch Industry on HBO if you want to froth over what a bunch of 22 year olds are going through. It’s not that deep.
Writers publish a bunch of articles, that’s what they’re supposed to do. Doubt they really give that much of a fuck, but know people will be curious enough to check it out
@andylouis / OP - I’ll take a stab, what the heck. DM me and we can move convo offline to email, etc.
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