I knew of some IBD analysts putting in 80/week, but wasn't expecting this! www.wallstreetoasis.com/forums/gs-analyst-survey-results #goldmansachs
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What happens when most of your team is Indian?
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'Hindutva': The Radical Hindu Ideology That Seeks to 'Push Christianity Out of India’
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Women, help me understand why this is inspirational
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Take Microsoft offer or stay at Apple
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Lasik cost
Why would smart young person enter IB instead of tech? Comparably, the pay is shit; the people you have to deal with are shit; wlb is shit. What am I missing here?
You’re missing shit! Lol
East coast notions of prestige I guess idk
You make more than engineers 10 years down the road if you stay on it
By that time, you might lose your family and have developed health issues
Lots of money and lots of heart problems
Definitely concerning. I think it’s important to note the sample size though, n=13. Its a pretty small group but its not hard to imagine this being replicated on a larger scale.
Everybody else was too busy to fill it out
I know about 13 friends in IB from college, and they work similar hours. They make < $100k, as little as $55k starting out.
95 hours is a joke. I interned there back before the Saturday rule was put in place and averages were well over 100 back in those years. In my group (2nd worst sweatshop in the bank) we would regularly do 130s. In order to do that you had to get good at not only the all-nighter, but the back-to-back all-nighter, or 40-60 hours without sleep. (Personal record: 59 hours. Unpleasant.) Back then we did it because it was the best pay for a 22 year old, bar none. Plus exit opps. Tech was not close. I have no idea why people do it now. As you can tell, I switched to tech.
Curious how did you get into product?
The usual. B-school.
I am glad it’s leaked
Hard to feel bad for them when they know what they're getting themselves into. The meme of an individual poking a stick into a bicycle wheel comes to mind. These guys have excellent exit ops - they'll be fine.
They all begged to get a job with Goldman now they have the job at Goldman and crying about it....be careful what you ask for
A little empathy goes a long way. Not everyone has a luxury to choose where they want to work..sometimes, people just take the job offered to them to be able to feed their families. Esp in this time of pandemic and desperation.
wow... why wlb so bad
Because it's WFH now and MDs are not traveling but instead sending you comments at midnight. Lots of 1st yr analysts left within months because of this, of course they don't get good exit ops, and those who stay will have less pressure for promotion and PE recruiting.
Don’t get why people are surprised, this happens at most BB if you’re in IBD. We all are aware of what we’re getting ourselves into when we recruit for these roles.
What are they even doing and how can anyone be productive working 100+ hour weeks on end? Are they just in the office sitting around? Genuinely curious
It's a mix. BB can definitely entail a ton of fast-pace/grindy model & presentation work, but then analysts run into a waiting period for comments/fixes to come back from an MD. It puts them in a bit of an "on-call" position, which definitely causes quite a bit of angst. What's causing quite a bit of work right now is the SPAC boom paired with all of the IPOs going on while companies try to grab a piece of the Fed's largesse.
TMT is getting crushed trying to deal with all the business they're bringing in...
Wow that sucks - how mucho is their TC
75k
Damn sad - do they make more than engineers ad they grow?