Has banking gotten any better since that Goldman post blew up?
Have first years / assonates at GS and other BB / EB / MM seen an hour reduction as of these last two weeks?
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Yeah forty years of industry precedent were upended in two weeks it’s totally different now
Not in the slightest. At an EB that has had a lot of attrition and the seniors truly do not give a fuck. Not a single initiative or policy in effect. People are showing their true colors right now.
Only week <90 hours I have had since the summer was the week between Christmas and New Years and even then still pulled 70.
For some reason this weekend has been quiet for me. In a sweaty M&A team too for that matter
same, almost got a full saturday
Out of curiosity, do you know if this is reflected across all EBs? I’m headed to one FT this summer so am curious if you know what your colleagues at other firms are going through
Most are not good right now. Some have been better than others, at least based on how many complaints I hear, but it isn’t good at your typical sweatshop.
It is a reflection across banking period. Not just IB which gets worst of it but corp banking not much better. Pitch pitch pitch
for sure m8, 5 news articles & 2 memes was all it took to bring a whole industry filled with toxic culture to its knees... This weekend was Passover so we had it light tho
was this weekend passover?
no wonder my satanic MDs and Ds were silent this weekend / been enjoying the break
god bless passover
Not much has changed. Obviously, CS gave out $20k/£15k retention payments, Jefferies gave some goodies, GS is semi enforcing protected Sats (not really if on deal), UBS held a panel (lol), Citi states "no Zoom Fridays", and DB is giving wfh meal stipends.
But most of these are incredibly tiny changes and the CS move seems more of an effort to stem the higher than normal levels of junior attrition than as any kind of response to GS...
Citi's Zoom fridays are for internal. That Zoom Friday thing was a total PR move for internal things back office things
Yeah much better, my staffer told me I was too tired, so it said to work on the pitch just up to 3am instead of 4am. Thank you GS!!!
Lol not at all - things have stayed the same
Lmao. Fuck no. Haven't had more than 4 hrs of sleep a night in the past 2 weeks.
good lord....where is this...? How are you alive? Prayers up
I'm leaving as soon as my bonus hit
Yup, my parents have started bringing me food now because up until the GS post, they thought I was just joking when I kept saying I was being worked to death and wouldn't leave my room! Thank you GS 13!!!
My EB set up a global taskforce to find solutions to improve WLB. Hours were on the higher end of the street though so will probably just go back to median at best ...
Instead of better hours, would getting paid more make up for the current work conditions? What if pay and bonus was back to like pre-financial crisis levels?
It would be better in terms of retention / worthiness of the job, but I can tell you that after having worked 100-110h weeks, for groups that do it on the reg the only thing you Think about is survival: sleeping (you’re sleep deprived), eating (you have fucked up eating schedule due to nonstop meetings and sometimes have to skip meals), walking (to alleviate neck/back pain and stiffness). Making an additional 20k 6months from now is not gonna make the coming week any easier for them.
Wait another month or two to see, Apollo is running a case study on that right now...
It would have to be a significant amount. With how much my colleagues / friends across other banks are working, there isn't even time to spend the money we're making right now. Can't find time to go out to nice restaurants, and sure as hell don't have time or flexibility to take a nice vacation.
Pay is already pretty high.
Idk why people say it's not pre-GFC levels.
Dollar values now are pretty much exactly where they were in 06/07. But with inflation that's still like a 25-30% haircut...
I went through that thread and this is a quote from there. BB Pay is pretty comparable to that in real dollars and this is from 14 years ago.
"of course its only the bonus..all in for the first years should roughly be 130 to 160K (including sign on)"
Yea I read it and numbers got higher as it went on. But the pay is at least comparable to better IMO.
Where it's lacking is you don't get a lot of the perks (strict meal allowances, client meals, etc very tame, no hookers and blow, etc, etc.).
Your always welcome to leave Banking. When we interview kids know we vet them so hard.
wdym vet them hard? all interviews were the same imo
Nope worst week in recent memory
How many hrs this past wk?
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