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Realistically 8am - 10pm on a normal day and obviously some longer days, very few shorter days. This is what I guaged from a friend who interned in ECM last summer at GS/MS/JPM. Depends on how busy the specific coverage group within ECM is.
I know of two ppl in ECM in GS/JP/MS who are/were pulling down 75hrs a week on average. some early nights some late nights, but id say around 7/8am to 10/11pm with some variations. They both seemed to enjoy their weekends, maybe 3-5 hours working on Sunday If they had a couple 7/8pm nights that week, but really just dependent on deal flow.
I've heard 7-7 for Citi/Barclays/CS
Citi ECM definitely not 7-7...8-9/10 mentioned earlier in the thread is more accurate. Syndicate especially gets crushed (8-12)
Equity Syndicate is literally the easiest job in investment banking. If you plan on going to b-school, that is the job you want. Thank me later.
Maybe it is, I don’t know, I don’t work in ECM. But they sit on my floor and the Syndicate side of the desk consistently gets crushed for some reason.
Maybe it is, I don’t work in ECM so I wouldn’t know. But I have friends in the group and they sit on my floor, and for whatever reason the analysts rotating through ECM Syndicate (its an 8-month thing I believe) get absolutely crushed.
My cousin worked in Syndicate and then transferred out. He said he never had to touch excel or ppt, wasn't involved in pitching business, they were just "executing" deals that were in market. Basically, calling around to see who wants in/out on a deal and collecting investor feedback, which essentially feels like telemarketing. He felt like he learned nothing about actual finance, but felt more versed in market and deal dynamics. It's a job where your role is to not originate business (that's the job of coverage/ECM origination), but rather to place the deals with investors, how to build an order book that doesn't fall flat on its face when a deal starts trading, etc.
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Tbh id rather work in a coverage/product group if ECM hours is actually 8am-10pm.
My hours (pre-covid) was typically 9:30am - 11:30pm of course will go to 1-2am during crunch time on live deals (probably once week s month)
If people are working 14 hours day in ECM, not sure what the upside is other than somewhat better weekends, unless you just really like the product.
Yeah agreed. But if the hours are the rumored 7-7 then it’s not bad at all despite no exits. I’m joining a mid-tier BB ECM group and I was under the impression that hours were 7-7, sometimes leaving at 5, sometimes leaving 10-midnight. Not much weekend work. Unfortunately not in the office right now to gauge how true that is.
It would make sense though that the top BBs (one of which is almost always lead left on any big IPO) would work longer hours. Maybe it’s different for the rest of the BBs who typically have co-lead roles
All I can say is when I email ECM for something unscheduled past 8pm, I do not expect an answer in short order unless they're in the office working on a live deal. I can tell you at my bank it's 7-7pm at the junior level, maybe a couple hours more if they're busy. Weekends are a write-off to get them to do anything unless it's a live deal.
Does anyone have info on evercore’s ECM group?
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