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re: How do you feel about young NY investment bankers being worked 80-100 weeks?
Posted on 5/10/24 at 7:51 am to Sterling Archer
Posted on 5/10/24 at 7:51 am to Sterling Archer
quote:
I see most people didn’t read the article. The guy was a green beret for a decade and did several tours. This wasn’t some soy boy
The idea that he died from being “overworked “ is ridiculous.
Proby some combination of drugs and undiagnosed heart disease.
0
Posted on 5/10/24 at 8:01 am to HempHead
quote:
160k, even with NY taxes and NYC CoL, is still an incredible sum to be making as a new graduate.
160k in NYC means you live in a shitty apartment with two or three roommates. It’s a lot of money, but not a good standard of living in NYC.
Posted on 5/10/24 at 8:07 am to Thundercles
quote:
My take? frick em. There are a million jobs where you can relax and get paid 1/3 of what they earn. No one is forcing them to take and continue in these jobs, and there are a thousand people that want to do it for every one person that can't hack it. What say you?
This
Posted on 5/10/24 at 8:08 am to HueyLongJr
quote:
160k in NYC means you live in a shitty apartment with two or three roommates
This is absurd
Posted on 5/10/24 at 8:10 am to SDVTiger
quote:
160k in NYC means you live in a shitty apartment with two or three roommates
This is absurd
But true!!!!
Posted on 5/10/24 at 8:13 am to vl100butch
Not really 
Posted on 5/10/24 at 8:15 am to Thundercles
I would rather do that than hard, grueling manual labor for $20 per hour (or less).
This isn't much different than associate lawyers at big firms, or medical residents.
This isn't much different than associate lawyers at big firms, or medical residents.
Posted on 5/10/24 at 8:33 am to Bjorn Cyborg
quote:
This isn't much different than associate lawyers at big firms
Nah.
At least not anymore. They work long hours, sure but a big law associate will bill like 2200-2300 hours a year. Add in some non-billable time and you're at like 50-60 hour weeks, not even close to 80+.
Posted on 5/10/24 at 8:40 am to JohnnyKilroy
quote:
Nah.
At least not anymore. They work long hours, sure but a big law associate will bill like 2200-2300 hours a year. Add in some non-billable time and you're at like 50-60 hour weeks, not even close to 80+.
Depends on the practice and the deal flow.
I was doing some work a few years back working with K&E guys who were regularly sending me e-mails at 2, 3, 4 AM almost every night, for probably 3 - 4 months. I did not envy them.
Posted on 5/10/24 at 8:42 am to Thundercles
Part of me feels bad and part of me is like, they're making a lot of money and choose to do this.
Maybe this makes me lazy, but I very-much have a work to live and not live to work type of mindset, so I'd rather make less money and have better work-life balance than work more hours and just be miserable.
Maybe this makes me lazy, but I very-much have a work to live and not live to work type of mindset, so I'd rather make less money and have better work-life balance than work more hours and just be miserable.
Posted on 5/10/24 at 8:43 am to AbuTheMonkey
quote:
AbuTheMonkey
IIRC, actually works in IB.
Posted on 5/10/24 at 8:46 am to Thundercles
The tough environment of IB is not a secret. Of course there are a lot of people that think they want that life and later figure out it isn't for them. They should walk away before it consumes them. Leaving IB is not the end of the world.
Posted on 5/10/24 at 9:15 am to JohnnyKilroy
quote:
At least not anymore. They work long hours, sure but a big law associate will bill like 2200-2300 hours a year. Add in some non-billable time and you're at like 50-60 hour weeks, not even close to 80+.
The IB guys referenced in the OP are very small number of people. Sure, that's not applicable to most associate attorneys.
But at the absolute upper echelon, they are close to the IB guys. Maybe not all the way, but they are the closest, along with perhaps medical residents in some specialized fields like surgery or neuro.
Posted on 5/10/24 at 9:17 am to HueyLongJr
quote:
160k in NYC means you live in a shitty apartment with two or three roommates. It’s a lot of money, but not a good standard of living in NYC.
This is so absurd
Posted on 5/10/24 at 9:20 am to TigerCoon
quote:
So, they accepted jobs that they knew required crazy hours, and the companies expected them to put in crazy hours.
Shocking.
This. I'm former military and have worked in IB for over 5 years and knew exactly what I was signing up for. I still work a ton, but it's nothing like the first 1-2 years in.
Also, all of these reports about people working 120 hours are complete BS. Sure, there are extremely busy periods where analysts / associates are putting in ~90-100 hours per week, but that is the exception, not the norm.
Nobody, and I mean nobody, is doing that over a sustained period of time.
RIP to the guy who passed away, leaving behind a young family.
Posted on 5/10/24 at 9:20 am to Thundercles
i don't
Posted on 5/10/24 at 10:12 am to Thundercles
All young professionals put in their time, together with great results it's the way you prove yourself to the partnership.
Posted on 5/10/24 at 10:15 am to Azazello
quote:
Also, all of these reports about people working 120 hours are complete BS. Sure, there are extremely busy periods where analysts / associates are putting in ~90-100 hours per week, but that is the exception, not the norm.
Nobody, and I mean nobody, is doing that over a sustained period of time.
I'm in corporate law at a big firm, and it's the same. Are there people actually billing 2300 hours? Sure, but they're the exception.
Posted on 5/10/24 at 10:18 am to RLDSC FAN
quote:
This is so absurd
It’s what 9-10k a month take home. Pretty sure I can find a place that isn’t 3 roommates in a shitty apt and have enough left over for other stuff.
Posted on 5/10/24 at 10:53 am to Thundercles
Doctor and pilots don’t need crazy hours, Wall Street can get mule F’d if they want 
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