There seems to be a big fuss about some banks being sweatshops and others a breeze, especially with that Moelis email leak. Even though it is known that the "sweatier" the bank, usually this means better deal flow/experience at the analyst level - it still would be interesting to see the views you monkeys have formed.
Asking all monkeys on this site, do you have any intel on a ranking some of the "sweatiest" banks/groups and any anecdotes that may spice up our 8pm Thursday night Comp spreading session?
knightbanker, bummer your thread hasn't had a response yet. Maybe one of these threads could point you in the right direction:
Any pros willing to rescue this discussion? nate11111 @Vincent Adultman" CORP
I hope those threads give you a bit more insight.
Is Ibanking the first few years like a sweat shop? (Originally Posted: 02/12/2007)
I noticed the poll and the 2nd option right after "I have no significant other" is sweatshop. that got me thinking....since this is an Ibanking forum no one really works at one, but is it like a metaphorical view of Ibanking? I'm probably very late on this metaphor but a simple confirmation like "you're an idiot" or "are you really that slow?" will suffice...
ha but seriously expect to work 80-100 hrs a week ibanking at a BB...sweatshop? depends on your definition
^Overworking for less than you deserve. lol it actually fits the description perfectly.
I am pretty sure that in this type of sweatshop you make cash rather than sneakers
Golden handcuffs.
golden handcuffs? is that what ibankers get? man this job sounds more appealing every moment!
what would the hours be like at a boutique?
Boutique hours are, on average, less by (maybe) 5-10/week depending on the firm/location...but you're still on IB-type hours and the lifestyle remains similar. The same can be said for pay, less than BB, but still more than most.
This is just not true unless we are clear how we are defining "boutiques". In my view, these are leaner shops like Centerview, Evercore, PWP, Moelis, Jefferies, etc. All of these shops require more hours, at least 5-10 a week (more for Moelis / Jefferies), but normally pay more.
If you are referring to boutiques as the lower MM shops that do small deals and are not in the realm of competition of the BBs, then your statement is true.
Yes they are if you are not sweating away doing work, you are getting hot under the collar watching the hot girls. Or even the avg ones as you dont get to see the light of day anything starts looking good.
Lol which banks are a breeze? Thats the real question
At the EOD, hours depend on your firm / group / you. The firms I mentioned above and PJT will work you, with Moelis, Jefferies, and PWP probably edging out the sweatiest banks. To answer your question, at boutiques you will get worked (speaking from experience having worked at the mentioned banks) and you will more than likely work less at BBs. BBs have much more light on them from the press and have much more dedicated and focused HR groups and more generally have a focus on “culture”.
To reiterate, you’ll work long hours most places, but it depends on what group and how hard you want to work. There is a BIG difference between hours worked for top and bottom bucket analysts (obviously)
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