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Started By
Message
re: How do you feel about young NY investment bankers being worked 80-100 weeks?
Posted on 5/10/24 at 12:11 am to Saunson69
Posted on 5/10/24 at 12:11 am to Saunson69
quote:
Not 50 at a time. If a bank office in a city closes 12 deals in a year, then that's a very good year. These are $100 mil to $5 bil+ deals. 1 alone has a lot that goes with it. They're also working on other deals that no one wants to buy that never really gets them paid besides a retainer fee.
I didn’t say closed deals. I said modeling and working. High single digit close rate is elite. Most are far lower.
1
Posted on 5/10/24 at 12:19 am to GREENHEAD22
No, honestly I was thinking of BHP Billiton selling that and BP buying their Haynesville stuff. I used to think they were the same company when I first entered college and learned about these companies.
Posted on 5/10/24 at 12:21 am to billjamin
I guess if you looked at the bank as an entire whole between NYC, HOU, Dallas, DFW, Chicago, Boston then 50 is easily doable for an entire bank. But when I think of Investment Banks, I think of them as individual city offices of banks. Like JPM Houston in oil and gas I see as standalone and not as same as JPM New York for finance deals.
This post was edited on 5/10/24 at 12:24 am
Posted on 5/10/24 at 12:24 am to Kafka
Are we sure it’s not climate change that’s the cause?
Posted on 5/10/24 at 12:29 am to Saunson69
quote:
I guess if you looked at the bank as an entire whole between NYC, HOU, Dallas, DFW, Chicago, Boston then 50 is easily doable for an entire bank. But when I think of Investment Banks, I think of them as individual city offices of banks. Like JPM Houston in oil and gas I see as standalone and not as same as JPM New York for finance deals.
Still not talking about closed deals. I’m talking about the 95% fall out that’s still needs tons of diligence to even get to a point the fund ED says no.
Posted on 5/10/24 at 1:56 am to Thundercles
A lot of places are like this. Consulting jobs can abuse juniors, but the upside is huge.
My first job out of college had me flying cross country every week, taking the red eye back to ATL with expectation of being in the office that day. It was insane, but fun.
My first job out of college had me flying cross country every week, taking the red eye back to ATL with expectation of being in the office that day. It was insane, but fun.
Posted on 5/10/24 at 2:48 am to Thundercles
I have no sympathy for them. They usually end up as a managing director or a cushy corporate job. Having been on the other side of it, their main job is packaging info and trying to sell it, or to repackage info from corporate teams to provide the C Suite cover for their decisions.
One of my favorite stories was when my boss asked a managing director from JP Morgan what their job was in an IPO. Knowing that my boss is a gambler, I explained to him they’re essentially bookies. The guy from JP Morgan blustered a bit but had to admit I was right.
One of my favorite stories was when my boss asked a managing director from JP Morgan what their job was in an IPO. Knowing that my boss is a gambler, I explained to him they’re essentially bookies. The guy from JP Morgan blustered a bit but had to admit I was right.
Posted on 5/10/24 at 3:04 am to glassman
Are you thinking of Wolf of Wall Street?
There is not 1 single second of that movie that has anything to do with a penny stock or boiler room. It was a company called Lehman Brothers and a thing called the housing market collapse.
There is not 1 single second of that movie that has anything to do with a penny stock or boiler room. It was a company called Lehman Brothers and a thing called the housing market collapse.
Posted on 5/10/24 at 4:02 am to Thundercles
Umm
This post was edited on 5/15/24 at 8:31 am
Posted on 5/10/24 at 4:23 am to Thundercles
quote:
Turns out he died from a blood clot
Ah. So the hours weren’t the culprit. I admit I didn’t read the article. And I confess my job now is ALOT more relaxed now, but yes, I worked no less than 12 hours a day for weeks at a time for over 10 years. Lots of physical labor. Now my job is watching computers and making adjustments in the field when needed. I do still walk and climb a lot. The hours suck. Sometimes I’m on days, sometimes I’m on nights. You never get adjusted to it.
Posted on 5/10/24 at 5:34 am to Kafka
quote:
I blame racism
Could it be climate change leading to racism?
Maybe if you would pay more taxes for some good lgbtq after school programs this could be fixed, but unless we can provide billions to Ukraine it will all just fall apart because of the white supremacies patriarchy.
Posted on 5/10/24 at 6:39 am to Thundercles
Don’t care at all plenty of fields put in work and don’t cry about it.
Posted on 5/10/24 at 7:20 am to Thundercles
Oh no! Those poor bankers!
Maybe they should try roofing in July in Louisiana
Maybe they should try roofing in July in Louisiana
Posted on 5/10/24 at 7:32 am to HempHead
quote:
160k, even with NY taxes and NYC CoL, is still an incredible sum to be making as a new graduate
Plus bonuses and these aren't Clark Griswold Christmas Vacation bonuses.
Posted on 5/10/24 at 7:34 am to Knuckle Checker
quote:
They also don’t have any time to spend it so there’s that
In the city that never sleeps there is always time to spend it
Rip to this guy but he died from being over worked?
Weak
Posted on 5/10/24 at 7:35 am to Thundercles
Work ethic is dying in this country.
Posted on 5/10/24 at 7:39 am to Thundercles
quote:
There's a slew of new conversation this week after a 35 year old guy dropped dead from being "overworked
So what really killed him?
Posted on 5/10/24 at 7:40 am to Saunson69
quote:
You're saying you brought home $2 million last year on your W2 or 1099 for running a directional boring machines under roads? I'm sorry, but no you did not. No way you made 2.5x what Brock Purdy brought home last year doing that.
I'm not saying at all you can't make good money doing that, but $2,000,000 in pre-tax you made off it? I call BS.
He said he made that “with a couple of crews of rednecks” running directional boring machines under roads. Also said he has an MBA. Use your context clues. He’s probably a business owner.
Posted on 5/10/24 at 7:45 am to Thundercles
So, they accepted jobs that they knew required crazy hours, and the companies expected them to put in crazy hours.
Shocking.
Shocking.
Posted on 5/10/24 at 7:49 am to billjamin
quote:
It’s apples to oranges. I’ve done both.
Offshore can be physically taxing if you’re not the safety guy or some shite. But you at least get to recover on your days off.
Finance bros really never get a day off. It’s mentally exhausting even before the abusive culture.
I’m not trying to be argumentative, but there are plenty of O&G jobs where mental burnout is a much larger factor than physical exhaustion. Particularly for field engineers at service companies. And a lot of those folks work on-call rather than on a rotation, where they just bounce from shitshow to shitshow trying to unfrick various situations. (I’ve been one of those guys.
)
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