Comments (72)

Feb 19, 2018

Not sure Presidents Day is a thing in IB. I worked for about 5 hours on the 4th of July this past summer, so I'm sure half-days are the norm on holidays for most banks.

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Feb 19, 2018

Speaking form EB M&A experience, it's very group and deal dependent. At some point or another as an analyst I worked all of the holidays you just mentioned, but I also had other holidays off when things weren't too busy (e.g. Memorial Day).

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Feb 19, 2018

Does your bank usually let you know that most years, people are off on specific holidays, or do you have to request it?

Best Response
Feb 20, 2018

What's a holiday ?

    • 22
Feb 21, 2018

haha, Everyday is basically a Monday

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Feb 21, 2018

What Happened to Monday?

time is the coin of your life: be careful, lest others spend it for you - Carl Sagan

Feb 22, 2018

What are weekends?

Feb 22, 2018
exlurker:

What's a holiday ?

(+SB) I had a Holiday once, I was told that instead of spreading month to month financials for our client, I only had to do YTD. This saved me 30min, which I then used to work on a pitch book.

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Feb 22, 2018

Banks won't tell you this, but if you don't respond while on vacation there isn't any actual consequence. That's why they instill fear in you well before you even start thinking about taking time off. When you do take time off, you'll be too scared to not respond

Feb 20, 2018

This is too general of a question. As mentioned above, it would be extremely group-specific and situation-specific. If seniors at your group comes to work on holidays or expect you to come in even if they don't (more likely), then you'll have to come in. Or even if its a norm not to come to work, you'll have to come in if you are staffed on a deal that demands you to come in.

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Feb 20, 2018

Depends on group, MDs and circumstances. In my old team it was: if there's nothing pressing, you get the holiday, so long as you can finish what's on your plate by the agreed upon deadlines. But there was nothing preventing an MD emailing you on a holiday to get something done (if it's something last min urgent... or to their whims...).

And if you're on a live deal, all bets are off.

    • 1
Feb 20, 2018

Jesus Christ... working on Christmas? What the fuck could be that important that you NEED to work that day? Client can't wait 1 extra day? That's just outright sad. No other way to put it. There are some sad people in IB (seniors that force a junior to work when it can wait)

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Feb 20, 2018

It only happened once to me - on a sellside we had three bidders completing full DD to get to a final binding bid in early Jan. 3-4 DD advisors sent in updated question lists on Christmas Eve (intentionally I'm sure to avoid Christmas work) and Christmas for me was processing / drafting responses... but nothing like a little eggnog to keep the mind focused.

    • 1
Feb 20, 2018

God damn lol but still I mean it really couldn't wait one more day? That's what I question if I really want to get back into IB (I have an "easy" ish route to do so) at a MM for one of the regional banks.

I'm curious if it's more lax T the MM banks (particularly more debt focused regional bank shops I.e STRH, Citizens, BB&T) with regards to holidays. Cuz if I can't get Christmas off to see the fam I think I'll write that potential opportunity off for good

    • 1
Feb 27, 2018

You clearly don't work in banking...

--$$--

Feb 20, 2018

I do loads of valuation work over christmas. Family keeps removing the f**king price tags on my presents so I don't know what to sell them for.

    • 16
Feb 20, 2018

Thanks for all of the responses, from talking to bankers in the field it seems like there a whole gambit out there depending on
1) Where the deal process is at
2) The group
3) The culture

Feb 21, 2018

I'm sorry, but you guys give the impression like it's completely normal to work during Christmas or it's completely normal to not to be able take some time off. WHAT THE F*CK?

This exact thinking makes IB industry so f*cking broken and horrible. MDs are just bad managers, do not value juniors, do not value people's personal time and create tons of unecessary pressure. What could possibly happen if the model is sent out 2 days later? Would the deal fall apart? Would the client finish relationship? He probably wouldn't even fcking care, because it's Christmas and no one who is reasonable person works at this special time.

Get a grip. Life is not only about (and in case of IB usually meaningless) work. If I was told I cannot spend Christmas with my parents, because a piece of shit MD wants me to run another useless model update - I'd quit on the spot. This kind of bullshit is absolutely not worth it.

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Feb 21, 2018
hijackbanker:

I'm sorry, but you guys give the impression like it's completely normal to work during Christmas or it's completely normal to not to be able take some time off. WHAT THE F*CK?

This exact thinking makes IB industry so f*cking broken and horrible. MDs are just bad managers, do not value juniors, do not value people's personal time and create tons of unecessary pressure. What could possibly happen if the model is sent out 2 days later? Would the deal fall apart? Would the client finish relationship? He probably wouldn't even fcking care, because it's Christmas and no one who is reasonable person works at this special time.

Get a grip. Life is not only about (and in case of IB usually meaningless) work. If I was told I cannot spend Christmas with my parents, because a piece of shit MD wants me to run another useless model update - I'd quit on the spot. This kind of bullshit is absolutely not worth it.

Most people in the industry are extremely insecure and just take it in the ass, props to you if you would be able to tell your MD to politely fuck off.

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Feb 27, 2018

Yeah agreed. There's no way in hell I wouldn't tell my senior to get fucked if they tried making me work on Christmas. Frankly even anything more than a half day on Christmas Eve id probably go off.

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Feb 21, 2018

It's called sucking it up for 2 years, paying your dues and then moving to the buy-side. Time is more flexible once you make the leap at least typically.

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Feb 21, 2018

No, this is an absolute bullshit, stop pushing this. This is what makes this industry so shitty work/life balance wise.

I understand this is not 9-5, you need to work a lot, you have client-focused role, etc, but I'm pretty sure LOTS of work is absolutely unecessary, avoidable, or can be done on a different day than a Christmas Eve. The whole industry is just the pure bad people management, that's it.

There are much more demanding sectors, with more demanding work than putting together excel spereadsheets - and they don't have those utterly stupid schedules.

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Feb 21, 2018
Banker4LIFO:

It's called sucking it up for 2 years, paying your dues and then moving to the buy-side. Time is more flexible once you make the leap at least typically.

beta af

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Feb 22, 2018

What a horrible mentality to life.

Feb 23, 2018

They value juniors and their free time enough to pay them quite well on top of the value of the experience. Just my two cents, it's worth it for me.

Everyone has a different slope on that trade-off. I think I am being fairly compensated for my time.

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Feb 22, 2018

They value juniors and their free time by making them work on Christmas? LOL you sad brain washed fuck. Dear lord.

Feb 22, 2018

Value of the experience?

This is one of the stupidest things I have ever heard.

Being a CEO/Managing Partner/etc. is the best "experience" you could possibly get in the business world. But they don't pay these people LESS because they are getting great "experience"

Your time and effort is your time and effort

You get paid for it

Feb 21, 2018

Analyst in my group worked on Christmas and Thanksgiving. However, sometimes you can work from home if you are going home for the holidays etc. But again - really depends.

Feb 27, 2018

Make sure the shop has a good way to work remotely. As an analyst/associate, I would regularly work from the Caribbean over Xmas/Thanksgiving. Running data room uploads or updating a model over frozen drinks for an hour a day on vacation really ain't bad. You will realize everyone at a higher level works on vacation, it's the way the world works.

--$$--

Mar 2, 2018

Holidays? What sort of blasphemy is this?

Mar 2, 2018

There ain't none.

Its 11 o'clock on a Sunday night and I'm at work. I've worked past midnight on my last 2 birthdays, I worked all day last Christmas eve and worked from home on Christmas with VPs/MDs e-mailing/calling/faxing all throughout. News Years was saved, primarily because the client decided they no longer needed to close before year end (after ruining everyone's xmas, mind you).

Its not that you won't have any holidays, its just that if something comes up, nothing is off limits.

Mar 2, 2018
Marcus_Halberstram:

There ain't none.

Its 11 o'clock on a Sunday night and I'm at work. I've worked past midnight on my last 2 birthdays, I worked all day last Christmas eve and worked from home on Christmas with VPs/MDs e-mailing/calling/faxing all throughout. News Years was saved, primarily because the client decided they no longer needed to close before year end (after ruining everyone's xmas, mind you).

Its not that you won't have any holidays, its just that if something comes up, nothing is off limits.

Marcus, have you ever considered the possibility that no vacations are awarded to you because you can hardly speak English and it's your first language?

Mar 2, 2018
Marcus_Halberstram:

There ain't none.

Its 11 o'clock on a Sunday night and I'm at work. I've worked past midnight on my last 2 birthdays, I worked all day last Christmas eve and worked from home on Christmas with VPs/MDs e-mailing/calling/faxing all throughout. News Years was saved, primarily because the client decided they no longer needed to close before year end (after ruining everyone's xmas, mind you).

Its not that you won't have any holidays, its just that if something comes up, nothing is off limits.

Agreed with Marcus, nothing is scared. They'll blow you up at 10am Christmas morning, at your mom's funeral or any other time, and not even show a hint of remorse. I know a guy who ended up working nearly his entire honeymoon from his hotel in Aruba.

Also, zalley, you're an asshole.

  • Capt K
Mar 2, 2018

Zalley, good point.

In this industry, the more highly valued you are, the more your MDs and VPs will give you days off... make sure you bring this up when negotiating your offer.

Mar 2, 2018

Zalley, what a back officey thing to say. Go back to back office where the hours are 9-5pm. You might even get Columbus day off.

Mar 2, 2018

Usually the major holidays are recognized. But a good analyst is a busy analyst. I knew guys who experienced exactly what Marcus did and knew guys who were able to take every holiday off and then some.

I'm making it up as I go along.

I'm making it up as I go along.

Mar 2, 2018
Cornelius:

Usually the major holidays are recognized. But a good analyst is a busy analyst. I knew guys who experienced exactly what Marcus did and knew guys who were able to take every holiday off and then some.

I would probably guess, in fact, that there's a link between holidays-in-the-office and end-of-year bonus; indirect of course, but still there.

And zalley, good luck keeping your DB IBD job with that attitude.

Mar 2, 2018

Really weird this topic was brought up, I was planning on posting the same thing today

Mar 2, 2018

So, even though you don't get to take them. The days you technically have off are the NYSE trading holidays. Look them up on wiki or google.

You don't get them off usually, but there they are.

Mar 2, 2018

Any takes on this?

Mar 2, 2018

Any info on Thomas Weisel Partners & Robert Baird?

Do you get any holidays, or its pretty much the same as BB's, you might get lucky or might not. I know Robert Baird is known for its 'work life balance' & Weisel on its website mentions "generous vacation policy"...not sure how much of this applies to analysts in investment banking

Mar 2, 2018

Does this mean you can't get out of town on weekends off or for vacations because you will have to be available all the time even though you're off?

Mar 2, 2018

Back when I worked in banking, I used to tell people:

"It's not that I don't get some nights / weekends / holidays off, it's that I won't know I have them off until after they are over."

Basically, you're on call all the time. 24 hours a day, 7 days a week, including holidays. Most times you get the call, sometimes you don't. Either way, every time you plan something, it could get blown up. Plan at your own risk.

Mar 2, 2018
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Mar 2, 2018
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