What are S&T hours really like and do they vary by bank/desk?

wishuponastarr's picture
Rank: Baboon | 146

Obviously, in general, the hours in S&T are (usually significantly) better than those in IB. I've often read that most traders/salespeople come in around 7 AM and leave by 5:30/6 in the evening. Yet, I've networked with many alum across BB's and they seem to mention that they get in around 6-6:30 AM and not leaving until closer to 7 PM. In some cases, I know people have had to come in on the occasional weekend, too. So, 55ish hours tend to be reported, yet it seems like 65-70ish hours is more the norm, at least amongst analysts. My question is, are there certain banks or desks that tend to have longer or shorter hours than other? I do know that Goldman S&T guys tend to work 70 hours or so a week, which again, is more than what one would normally expect. So, what are the hours really like, and at which banks?

Comments (18)

Oct 1, 2014

Mortgages is pretty bad... but if you're an analyst pretty much any product that is more complicated than IG credit/equities etc. will be bad.

Oct 2, 2014

Yeah I'm starting in mortgages. Can confirm, some analysts work 6:30 - 7AM Through 8-9PM plus some weekends.

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Oct 3, 2014

Who told you weekends....? 7 AM to like 6 PM is more typical for an analyst. This doesn't include the opportunity to go out with clients though which is obviously more time. Also depends if you will be sales or trading. Senior sales guys on a high volume desk are in the office half the time because they are on the road meeting out of town clients or in the city doing wine and dine somewhere.

Oct 2, 2014

The more liquid and vanilla the fewer the hours, but then again you sort of fit "more" into the day with these products. Essentially the more deal like the desk the more hours.

Also depends on the market, in europe stocks open 8, so on an equity derivs desk be usually in by 6:30 latest, most cash guys by 6. Cash guys would leave at like 4:35 + Ctrl/Alt/Del/Enter, us vanilla eq dervis guys would leave around 6, and the structured derivs guys would leave at like 8/9

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Oct 3, 2014

If anyone could kindly comment on desk analysts on a HY (non-distressed) desk? I thought they'd spend longer hours say 6:45am to 7pm at least but one guy who I know is senior on the desk seems to be leaving around 5:30pm most of the times. I know he has to travel a fair amount but just very curious. I won't be seeing him soon so can't ask him for now and would avoid such questions on an email.

Oct 4, 2014
Ialpha:

If anyone could kindly comment on desk analysts on a HY (non-distressed) desk? I thought they'd spend longer hours say 6:45am to 7pm at least but one guy who I know is senior on the desk seems to be leaving around 5:30pm most of the times. I know he has to travel a fair amount but just very curious. I won't be seeing him soon so can't ask him for now and would avoid such questions on an email.

6:45am to 6pm for an analyst plus some weekends depending on how motivated you are. Once you have your own book 7am to 5:45pm without weekends.

Sorry, misread, above is for trading. Desk analysts would be 7am to 7pm as a desk analyst junior plus weekends if you're motivated.

Oct 13, 2014
Ialpha:

If anyone could kindly comment on desk analysts on a HY (non-distressed) desk? I thought they'd spend longer hours say 6:45am to 7pm at least but one guy who I know is senior on the desk seems to be leaving around 5:30pm most of the times. I know he has to travel a fair amount but just very curious. I won't be seeing him soon so can't ask him for now and would avoid such questions on an email.

HY desk analyst: for juniors in at 6:30 latest. Out at 6:30 to 7pm earliest. You're better of staying as long as you can to learn as fast as possible. Forget what seniors do... You're 5-10 years away from that.

To everyone:
Just forget what seniors do. You guys are analysts. You come in first and leave last. That means you're coming in at 6-6:30 lastest and leaving at 7pm earliest. Suck it up. That 65 hrs per week for your first 2 years at least.

    • 1
Oct 3, 2014
CreditAnalyst85:
Ialpha:

If anyone could kindly comment on desk analysts on a HY (non-distressed) desk? I thought they'd spend longer hours say 6:45am to 7pm at least but one guy who I know is senior on the desk seems to be leaving around 5:30pm most of the times. I know he has to travel a fair amount but just very curious. I won't be seeing him soon so can't ask him for now and would avoid such questions on an email.

HY desk analyst: for juniors in at 6:30 latest. Out at 6:30 to 7pm earliest. You're better of staying as long as you can to learn as fast as possible. Forget what seniors do... You're 5-10 years away from that.

To everyone:

Just forget what seniors do. You guys are analysts. You come in first and leave last. That means you're coming in at 6-6:30 lastest and leaving at 7pm earliest. Suck it up. That 65 hrs per week for your first 2 years at least.

Thanks, glad I believe in putting extra hours in the first few years. Some of the other posts kinda scared me tbh.

Oct 15, 2014

Credit Analyst hit the nail on the head. I come from a credit desk so I can give you a run down of the times:

Sr. HY Desk analyst: 6:45 - 6
Sr. IG Desk analyst: 7 - 6:30

HY desk analysts like to arrive early alongside their traders (just the nature of the HY market- very research driven). IG analysts stay later- just a function of earnings announcements after close. If you're a junior, add 15-30 mins to the back end of both times. But I say its much more important to arrive before him/her more than anything.

Sr. HY/IG traders: 6:45 - 5:30
Juniors: 6:30 - 6:30 (latest)

For trading, you shouldn't be staying past 6:30 unlessyoure trading some esoteric product, or your systems suck. Once again, its imperative to arrive earlier so that you can update the senior on levels. But you would be best served bonding with the desk over drinks and meeting clients, rather than sitting there waiting for your system to reconcile the PnL.

Oct 3, 2014

^ Thank you

Oct 7, 2014

SA on a vanilla desk In Canada Here:

At desk by 7-7:30 left by 5:30-6

Only really varied when something went wrong at the end of the day or my boss needed something for the next morning.

Oct 1, 2014

Another important thing to note. The quality of technology and the support staff at banks is pretty significant in determining your life as an analyst. A lot of your time will be spent debugging problems with PnL, technology issues etc. and if technology at your bank is really good or if the support staff is very helpful it will be less frustrating.

Oct 27, 2014

Can anyone comment on average San Francisco S&T hours?

Oct 27, 2014

Well it depends on the firm and the climate. When your down a buck or the whole group is down, things tend to get more stressful, people stay later, etc. But when you crushed the yearly budget 6 months in things get more slack. Ive seen traders leave after lunch, etc with no care in the world.

Oct 27, 2014

If you're in a sell-side seat (i.e., making markets, providing liquidity to clients) then you work market hours. There will be times you need to be in after market close (e.g., meetings) and most come in well before the market opens to check their positions and read the news. I started on the mortgage desk and have been a trader or worked with traders my entire career.

I worked 7-6 most days, but most senior traders (who have a real risk position) came in after me and left before me. I would say ~10 hours was the most common. That said, sometimes there are several large BWICs out and you need to put in more hours... weekends are pretty much non-existent.

At the end of the day, what's going on in the marketplace will dictate your day (how busy you are and when you can leave). Hope this helps.