Is IB experience during COVID actually better?

WGLmaster's picture
Rank: Chimp | 4

While I know this pandemic has negatively affected many in the banking industry (across multiple sectors and firms) - it does seem that for those fortunate enough to have a job, that the experience may be better overall. The main points behind this belief are below, with the one caveat being that one still has enough deal flow to learn / make the experience worthwhile.

1) The hours are less brutal overall leading to a better mental state
2) With less deals going on, one can focus more fully on certain analyses and deal process items and hopefully get a better learning experience
3) There is less to do outside of work in the current environment so the long hours do not seem as bad because less FOMO
4) Although bonuses may or may not be down drastically based on specific firm and sector (don't worry they will be down); overall, more money is being saved from less $20 lunches, $6 coffees, $100 bar nights, etc.
5) WFH affords the opportunity to spend more time with family and the ability to better utilize downtime

As we progress into a seemingly inevitable phase II country wide shutdown in the coming months, I am interested to hear thoughts on this 'glass half full' view.

Comments (4)

Jul 1, 2020

1) The hours are less brutal overall leading to a better mental state
2) With less deals going on, one can focus more fully on certain analyses and deal process items and hopefully get a better learning experience

LOL

Array

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  • Analyst 1 in IB - Restr
Jul 7, 2020

Rx Analyst POV on those takeaways:
1. My ass is currently grass
2. No
3. No
4. If my bonus is down I may kms
5. I see my family for 15 minutes at dinner, if lucky

    • 3
  • Analyst 2 in IB-M&A
Jul 7, 2020

I work in M&A at an EB:
1. Absolutely false. The hours are worse because you're expected to start earlier (before 9am) since you no longer have to commute. Because all the senior guys are scared for their jobs, we're pitching and doing business development work like crazy. The firm has also moved downstream to work on MM deals and those suck worse than the larger transactions I'm used to working on. Probably worse for the mental state since you don't have analysts to talk to all day.
2. False. You learn important things in deals, especially sell-sides. We pitch a lot, which I guess teaches you comps / valuation / industry landscape but I wouldn't say it's a better learning experience
3. True. Less plans = less FOMO
4. Probably true. Our office provides coffee and we have a generous Seamless policy so probably not saving as much as you'd think. Sure you're saving money on bar nights but that's an early 20s experience that's worth the money
5. I guess it's true because no one's looking at your screen. You definitely won't be able to eat all your meals with family or spend that much time with them given the hours

  • Analyst 1 in IB - Ind
Jul 7, 2020
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