How much do you actually work at work?
Before I every got to the business world, I thought that people worked super hard while at work and than would go home after a hard days work.
Recently, I realized I was wrong as shit.
All I notice is people fucking around at work all day.
Usually, I go half and half on my work day. Half messin' around and half going hard.
I'm sure it's different for different parts (IB/HF/Corp. Fin...etc)
But Corp. Fin seems to be pretty chill at the moment.
You guys feel the same way?
It really depends on your firm. My firm doesn't allow for and MDs make sure you have plenty to do and they always set crazy deadlines. You're lucky then. Getting paid to work 50/50.
That's a pretty accurate observation. There are places where people literally don't do anything all day and get upset when they are asked to do anything, while there are places that really kick you from milestone to milestone.
Milestone...I should've added that word to that list someone recently posted about words members hate in the business context.
Milestone sounds like the absolute worst, I'm glad nobody says that around here. "Here's your next milestone!" aka shit sandwhich.
I've been out of school for five years and worked for three companies: Consulting, CF/CD, & MF(15 man shop, F50, & a F1000).
Consulting had very erratic workloads dependent upon client demands. I can't say that I was always busy. Of the time I spent in the office, I was probably actually working 75% of the time. I'm sure it's different at MBB.
CF/CD was the worst. We were constantly busy and understaffed. Earnings, Forecast, Planning, Acquisitions, Ad Hoc Projects, etc...the inbox was never empty. While sitting at my desk I was probably working 95% of the time. Sadly, fear was the primary motivator forcing everyone to work so much. Our VP was the biggest asshole I've ever met in my entire life and he would make your life hell if you didn't get something to him on time. It was depressing walking into the office knowing that if I worked w/ 100% efficiency I might be able to leave the office by 8PM.
I'm new to my MF role so I can't speak volumes regarding the (work)/(time at the office) mix. We're extremely busy around earnings season, but when we're off-cycle I have time to myself and can actually get out of the office for lunch. I also have time to post on WSO now...
@beny23, yea man, I'm thinking that my work load is still so light because Im an intern, but do you think it continues the same when you reach FT? or is there a dramatic change?
@kingtut Damm man, you're one busy ass dude. I'm usually surfing WSO 60% of the work day.
Luckily tomorrows friday and my boss wont be at the office either... probably 80% WSO tomorrow haha.
I know for me it's hit and miss. I might go a week doing maybe a couple hours of actual work, liquid lunches, come in late and go home early, but then the next week I'll be balls out for 12 hours a day and through the weekend. It just depends what's needed and when.
50/50 is a great way to describe it. not including lunch.
Anybody want to elaborate on how prevalent this is in IB? and PE?
I summered at a BB IBD and it varied drastically. When it was slow (first 3 weeks for me) i sometimes did almost no work until dinner and then got staffed. When it got busy (rest of summer), I went 3 weeks straight without having more than an hour of down time per 18 hour day, and the hour was usually not even at a convenient time so I would still eat lunch at my desk. Things usually got less time sensitive around dinner, were past in the morning and sped up again while approaching midnight because me/other people on my team wanted to leave. It also depends on who you work with in IB. Some associates would give me work well in advance of when they wanted it, so there was decent down time. Others would give me something and expect it instantly, so I'd have to work consistently until it was done. My last week of summer I think I did 10% work, 90% bullshit though.
In PE, I would say it's 80-90% work when you're working on origination (however, that 80-90% includes a lot of reading about various things, including the news, sector research, company research, etc.) but then goes to 100% when you're in deal mode. The 10-20% gets spent on reading sports news, emailing with friends / girlfriend, planning your next vacation, thinking where to go for next dinner / night out, etc. I think it's 80-90% because you really have to crank pretty hard to get out at a reasonable time (i.e. 7-8pm).
I think this is very accurate and reflects my experience in PE to a high degree. However, I think that the deal sourcing/origination can be quite heavy, as well, but in an entertaining way.
As strange as it might sound, I multi-task working and slacking for say 75% of the day and then work balls to the wall for 25%.
Most of my day is leaving voicemails for people, and I've gotten to the point now where I can do it while reading WSO or even posting.
If I actually get through to someone I can't bs on the Internet, or if I'm touring, or if I'm canvassing in the field, or if I'm working on a pitch, but those aren't every day or necessarily every week things.
I fly though my call sheets and work longer hours in the office than anyone minus like 4 people too, so in comparison my productivity is still up there
Word.
Probably about 15-20 hours of actual work a week... seriously.
One of the major issues with BB employees is many are so old that they don't know how to be efficient with technology so basic tasks take them 20x longer than it takes me. It's rather pathetic and mediocre.
@yeahright, I feel the same way at my fin. analyst internship. Some of the olders (maybe in there 40's/50's) either dont want to, or dont choose to using so many of the shortcuts tech. has provided in the recent years,
But whos to say we'll be different when were 50.
aka they are onto something
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