So I think I get the basics of what an MD does - source clients for deals, such as acquiring a company and provide advice on the deal, for example - but I am still confused on what they do on a day to day basis.
When they're on the road, they are obviously trying to sell to the clients, but what about when they're in the office? The younger monkeys take care of all of the grunt work, so what do they spend 40-60 hours a week doing? What types of personality traits are essential for achieving this position and succeeding on the job?
Some more insight from folks in industry on their day to day responsibilities, concerns, etc. would be great!