We live in an alternate reality
Anyone else feel like the hours we put up as analysts and the demand/stress that comes out of this job is just completely nuts to someone unfamiliar with the industry?
During busy weeks / months, I do nothing but wake up, work, meetings, work, until it’s suddenly 2-3am and off to bed, except I can’t fall asleep because it’s impossible to shut off my brain that’s been working for 16 hours nonstop. Rinse and repeat.
This concept that your job is your entire life is foreign to 99% of people in the US. I come from a strong target, but even there, friends with no clue what IB is wouldn’t understand why I’m in the office past 6 (when usually that’s just a checkpoint through the day)
People who do know what IB is resort to saying “you know what you signed up for” or “you’re making so much more than me stfu about work”
There really is no common ground between people who work in banking and anyone else that’s 23/24 years old. And that’s why is so hard to dissuade college kids / outsiders from entering the industry, because it’s unfathomable the demand and toll banking takes until you actually experience it.
Everyone’s first reaction to someone’s job is the paycheck, but the ends definitely don’t justify the means when you sacrifice so much of your mental and physical well-being for a MD that couldn’t even care to remember your name.
There needs to be better support for analysts, whether it’s more readily available mental health services from banks, or a guaranteed one hour checkpoint throughout the day where analysts can go to the gym/relax. It’s absolutely soul crushing to be working 16+ hours nonstop days on end.
People talk about the learning opportunities in banking, but if anyone devotes 80-100 hours a week on anything, they’ll become a pro at it. There is nothing inherent in banking that teaches you more than other industries.
Only hope that’s keeping me going is the one year mark, where I either lateral or move to PE. IB can be a horror show, and I hope candidates realize there are better opportunities and careers these day to catch a bag.
I think the thing that bothers me most about my peers or friends is that they always say "you make so much" or "I am so underpaid" when if they just worked as much as we did they would make analyst pay. Now I will agree that pay deviates beyond this level, but at some level there is very little we can control for.
I agree with your point above, but I don't think its people being out of touch with bankers, but rather reality. One time I was dating a nurse and She would always complain about being tired after night shifts or a 12 hour day. And it would literally piss me off because, I would be coming off a work bender and she would be on day 2 of her 4 day weekend. Not to mention she had student debt and always complained about it and I showed her that if she picked up one extra shift a week she could pay it all off with the overtime. The fact that you could work even a 50 hour week, get paid like an anlayst, and have guaranteed 3 day weekends- and she still complain about life just goes to show that most people will always complain about their lives.
The best thing we can do is smile, realize that we are in a great position in life, and I know it sucks, but just keep to yourself about hours and pay.
Everyone's job is an alternate reality - nurses have to touch people's junk, clean their shit, or watch people die. Those 12 hours are completely different than spending the day until 9pm on diligence calls and putting discussion materials together. I hear your complaints, but just know that there is another life after the IB analyst life. You will realize that everyone is oblivious to each other's job and then you slowly will stop caring as well. Now that I'm in PE and actually make less than what I was making as an ASO in IB, you will start attributing value to other aspects of a job other than just compensation.
No and that is what I am saying is everyone is going to complain and thus everyone's reality is different.
Tech is also an alternative reality - good wlb, good pay, stimulating work, the list goes on.
+1. Being a healthcare clinician is mad overhyped by those who just see it as a nice 6 figure payday.
I cannot see my other comment, but I wanted to add something to the end of it, saying that if you want sympathy from your peers that are not in banking, you are probably not going top get it, simply becuase everyone thinks their life is so bad. And the best thing you can do is advocate for yourself.
Not really looking for sympathy from anyone, but more just highlighting how crazy our job is compared to any other jobs for 23 year olds.
Do agree with most of your points though, although given how analysts are in the minority, I’d say our perceptions on what is considered busy are skewed (hence my point on alternate reality).
A nurse should complain if she worked 12 hours a day, that’s 50% more than a normal workday. The fact that bankers get annoyed by that speaks more to how ridiculous our hours are. Life has its ups and downs for everyone, but people’s issues aren’t always directly related to work. I’m personally too busy to even think about anything else besides work to have external problems. But that doesn’t invalidate others for complaining about what we perceive as “trivial”. It’s funny most people who don’t understand banking would view our issues as trivial
There’s just such a disconnect in lifestyle between people in banking and rest of the world
Not trying to argue, just pointing out some things. But I think we are generally on the same page that bankers are disconnected from the real world, I think there can be just as many normal people disconnected as well.
Well I agree with you that a 12 hour day is long, nurses typically only work 3 days a week. Complaining that you work 36 hours in a week - becuase you have 3 long days is what I really see as trivial.
Agree with the sentiment although I think things are changing. This generation won't be so easily pushed around when there are so many other alternatives and opportunities with the internet that allow you to make multiples of your current earnings with far less hours. Agreed also that spending 80+ hours a week on anything will effectively make you a pro.
Only thing I would caution here is that you mentioned wanting to do PE. Believe me that's not going to solve any of the issues you are describing here.
Not sure I'm on board with this. This generation has also always been part of a bull market and strong job outlook. If that ever changes (and it will change at some point) it will make your perspective - and those of your peers - change very, very quickly.
Boomers and those younger with decent nest eggs have benefited the most from the bull market. I don't think any current analyst (gen-z) has any money to have really reaped the rewards. If anything, first years have thus far been the most screwed with jumping into the market for the first time in their adult lives amidst all this volatility.
Cmon dude. Yeah, hours suck but your the doors an analyst job opens are unparalleled. No one does IB to be an analyst. It's expected to be a crappy two-to-three years. No one feels or should feel bad for a 23 year old making 150k, regardless of the hours they work. It's not like analysts are adding any real value anyway that adds to the company's P&L, most of the analyst work could be outsourced to India. And yes, I was an analyst for two years at a BB many moons ago and it was a miserable experience.
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