Which bank has the worst hours on the street?

Prospect in IB-M&A

Are the rumors about 100 hour weeks at Moelis LA, etc, still true?

More curious about NY if anyone has info.

Also what is actually considered average? Feels like a lot of numbers are grossed up to try to sound more impressive nowadays.

Comments (69)

Funniest
  • Analyst 1 in IB - Ind
Oct 10, 2019

From my experience, Tobin & Co. is a sweatshop

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    • 1
Oct 10, 2019

:

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  • Associate 2 in CorpDev
Oct 10, 2019

Worst hours on the street?

Bank: Lazard
Consulting firm: LEK
Accounting firm: EY

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    • 4
Oct 10, 2019

EY hours are not as crazy as the BB.

70 hours avg. per weekly.

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    • 3
Oct 10, 2019

Yes, but those are long hours for an accounting firm.

With that being said, all of the Big 4 have the same hours, so I'm not sure why he chose EY as having the most.

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Most Helpful
Oct 10, 2019

From what I have heard both from friends at the firms and on here, some of the usual suspects tend to be (this pertains to hours, not culture as a whole):
Piper (certain groups, heard industrials and certain healthcare verticals can really suck)
Lazard (most groups, heard specific things about Boston TMT)
Moelis (not sure about group)
Houlihan (not sure about groups but have heard they are tough)
AGC (if you haven't heard of these guys, they have mandatory weekend hours...wtf )
UBS (have heard healthcare is nuts)
TAP Advisors (have heard it can be toxic and they still work you ass off even with very choppy deal flow

Additionally, a lot of other smaller shops that run super lean can be pretty tough on analysts. Have heard about some healthcare boutiques that really never take their foot off the gas

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  • Analyst 1 in IB - Ind
Oct 10, 2019

AGC and their fake reviews, lol!

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  • Analyst 1 in IB-M&A
Oct 14, 2019

Fake reviews? Do tell.

  • Analyst 1 in IB - Ind
Oct 15, 2019

Yep, search their Glassdoor reviews and threads on WSO.

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  • Analyst 1 in IB-M&A
Oct 10, 2019

Curious about Moelis LA - they used to be the definition of a sweatshop but some posters have mentioned things changing quite significantly?

  • Analyst 1 in IB - Gen
Oct 10, 2019

Have heard that BMO Mining group up in Canada is a sweatshop

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  • Analyst 1 in IB - Gen
Oct 11, 2019

My roommate works in the Toronto office. He was pulling consistent all-nighters when they were on the Barrick gold deal a few months back

Oct 12, 2019

Can confirm. Worst hours in Canada

Array

Oct 10, 2019

Anyone can comment on Evercore Houston?

    • 1
Oct 11, 2019

Confirming that, and also PE Secondaries

Oct 10, 2019

Lazard and Moelis are really bad. As a general matter, EBs are the roughest.

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  • Associate 2 in CorpDev
Oct 13, 2019

Agreed - from my time in one of the EBs... damn, didn't miss the consistent all-nighters at all.

Oct 10, 2019

Surprised no mentions of Jefferies, especially their top groups...

    • 3
Oct 10, 2019
iggs99988:

Surprised no mentions of Jefferies, especially their top groups...

Jefferies in Houston is a sweatshop. They're also known for paying their Houston office higher across the board than their other groups as well.

    • 1
Oct 12, 2019

Rumor has it their (I assume associates and above) bonuses have three year clawbacks attached.

  • Intern in IB-M&A
Oct 10, 2019

Moelis LA has completely chilled out. Very much a work hard, play hard type of bank but culture is way better than what it used to be. Hours are tough under a few MDs but they have been working to get rid of the upper-level people who made the bank hell. The place is also a total frat house.

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  • Associate 2 in IB - Gen
Oct 10, 2019

came here to say this, even NYC isnt as bad as just 2 yrs ago

  • Intern in IB-M&A
Oct 13, 2019

Was a summer analyst in NYC and it wasn't bad at all. Had friends working at other banks who were consistently in the office later than me.

  • Analyst 1 in IB - Gen
Oct 11, 2019

Heard from summer analyst who worked there this year that its still an absolute sweatshop. week or more in a row of working 8 am- 4 am

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  • Analyst 1 in IB-M&A
Oct 11, 2019

Is this LA or NYC?

  • Summer Associate in IB - Gen
Oct 11, 2019

Worked there over the summer in the NY office and had multiple 110+ hour weeks and a string of 16 days in a row past midnight. It is still brutal.

Oct 11, 2019

A lateral in my group has a roommate that works at Moelis. Still absolute hell according to him.

Han Lee

  • Works at Moelis & Company
Oct 11, 2019

"Summer analyst" smh.. interns

    • 1
Oct 11, 2019

Well, I take the same elevator as those guys, and I've actually asked them before if the rumors were true that they worked about 100 hours a week. They said no, I think they work more like 80-90 hours.

Also, they don't seem to stressed judging by the way they act and talk during my elevator rides. It's possible their reputation doesn't actual reflect the reality at Moelis.

    • 1
Oct 12, 2019

What about evercore NY?

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  • Analyst 2 in IB - Restr
Oct 12, 2019

+1 for Laz/Moelis being pretty awful still

  • Analyst 1 in IB - Ind
Oct 12, 2019

Laz hours in NY are consistently 100+, same goes for SF healthcare. For some reason, the SF tech group is pretty chill like 60-90 hours on non-busy weeks, one friend in that group worked 9-5 at some slow times in the year and they service Google, which seems like a decent gig.

Interested in hearing about some other groups in banks that are strong with relatively lower hours.

  • Analyst 2 in IB - Gen
Oct 12, 2019

Have a friend that works at Greentech. Hear the hours are absolutely brutal there

    • 1
Oct 14, 2019

Heard this too. I feel like a lot of higher powered boutiques that aren't in the "EB" class can be just as brutal.

  • Analyst 3+ in 
Oct 14, 2019

Yes, it is because they are still trying to make a name for themselves and are still in the rapid growth stage. This applies for firms like FT Partners as well. I guess FT Partners is a little different because at least they have deal flow compared to Greentech, which I have heard will literally throw analysts a pitch at 12am and want it early morning. Worst part is that most of these pitches are useless and will not go anywhere and the MDs know it as well.

  • Analyst 1 in IB - Gen
Oct 12, 2019

Does anyone have any actual info on Moelis LA since they were once the benchmark for a slaveship/sweatshop? Seems like all the information is conflicting.

  • Analyst 1 in IB - Gen
Oct 12, 2019

Try reaching out to an actual analyst rather than reading posts online from strangers

Oct 14, 2019

In addition to the ones listed above, I have heard from a VP at another BB that BAML Healthcare is absolutely brutal. She essentially told me that she hates talking down on another group/firm, but practically begged me to try going anywhere else before going there. Not sure how accurate this is, but she seemed very serious about it

Array

Oct 14, 2019

Also heard Lazard Paris is brutal. Actually, a lot of boutiques in Paris (even small caps one) have very long hours.

Oct 15, 2019

Can confirm Laz Paris is brutal, worked on a buyside mandate with them and they were consistently answering emails and hopping on the phone until I'd leave the office around 1am...NYC time...

Array

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  • Associate 2 in CorpDev
Oct 15, 2019

Those hours go against every fibre of french culture

    • 3
Oct 15, 2019

Well, people tend to ignore the work/reward relationship in certain industries in France. I think elite boutique (Laz, Roth) and American BBs guys make more money in Paris than London (a bit less than US)

Oct 14, 2019

Liontree NYC

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  • Intern in IB-M&A
Oct 15, 2019

can confirm that analysts consistently pull in 90-100 hours per week

Oct 15, 2019

Deleteeeeeeeeee

  • Analyst 1 in IB - Gen
Oct 15, 2019

This may sound like a silly question, but what exactly are bad hours?

I'll start:

I work from 10 am to 2 am Monday to Thursday. Leave around 10pm most Fridays. And work Sundays from around 11am to 11pm. Saturdays off. Total hours are about 85 - 95 / wk pretty consistently. I'm also always varying degrees of busy throughout the day, not sitting around waiting for comments. I work slightly more than most analysts in my group, but I'd say this is pretty typical. I don't really consider these brutal hours.. tiresome at times. Definitely limits my social life, but I figure they will improve gradually with time. I can also usually squeeze in a workout 2-4 times per week around dinner time so I'm in pretty good shape.

I'm a second year analyst at a BB in a coverage group.

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  • Intern in IB - Gen
Oct 15, 2019

I'd say brutal can be measured by how many times you have to stay up all night

Oct 15, 2019

This is pretty bad. Do you honestly feel that working until 2AM during the week and into 11PM Sunday night is not bad? I'm assuming you just started your 2nd year. You will definitely feel differently / a lot more burned out 3 - 4 years into your career if you decide to stick around. The lifestyle will gradually begin to take its mental toll.

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  • Prospect in IB-M&A
Oct 15, 2019

This is bad for a 2nd year analyst - currently a 2nd year in a top BB group, and me / my friends in other groups definitely aren't working 12 hours every Sunday anymore. Or working till 10pm on Friday ... that just seems excessive.

The weekday hours make sense, but as a 2nd year analyst think you're generally able to take more control over your schedule / work less weekends.

  • Analyst 2 in IB - Gen
Oct 15, 2019
Analyst 1 in IB - Gen:

I work from 10 am to 2 am Monday to Thursday. Leave around 10pm most Fridays. And work Sundays from around 11am to 11pm. Saturdays off. Total hours are about 85 - 95 / wk pretty consistently.
I can also usually squeeze in a workout 2-4 times per week around dinner time so I'm in pretty good shape.

Compared to my bank as a 2nd year analyst, weekday hours are pretty comparable though everyone is required to be in the office by latest 9:30am. There are usually weekly or biweekly events that require everyone to come into the office around 8am. Fridays are usually until 9pm or so. Sundays are usually 12pm to 10pm with the flexibility to work from home. Saturdays are usually 4-6 hours of work (afternoon and early evening) with the ability to work from home (though the office is pretty dead on Saturdays). Most people try to avoid coming into the office as much as they can.

Things are usually busy enough in the evening that analysts can go to the gym for an hour or so or have a longer dinner once every few weeks. Otherwise, dinners are usually ordered and eaten at your desk or in the break room for 20-30 minutes. You could theoretically go to the gym but you'll just be up until 3 or 4am instead, which is not desirable.

1st year analysts usually have it slightly worse, which can depend on how eager they are to be the best ever though this obviously disappears after a few months once they start to feel a little burnt out.

  • Analyst 2 in IB - Gen
Oct 16, 2019

That's pretty rough. Is this how it's like at most banks?

  • Prospect in IB-M&A
Oct 16, 2019
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  • Prospect in IB-M&A
Oct 16, 2019
Oct 16, 2019