Office Politics in IBD and PE: Any stories?

As a prospect in IBD, I've heard a lot about the office politics that appears as you move up the ranks in both IBD and PE. I'm having a tough time visualizing what this means, even after reading a couple other posts. Can any of you clarify this with examples or general things you've noticed at your firm? How does one get "stabbed in the back" or "punched in the face" by a colleague? Is the rumor that politics is more prevalent in IB than PE true? Finally, any tips on how to deal with this in the workplace? I just want to make sense of all this and know what I'm trying to get myself into. Thanks.

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