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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 11:04 am to vl100butch
Posted on 5/10/24 at 11:04 am to vl100butch
quote:
quote:
160k in NYC means you live in a shitty apartment with two or three roommates
This is absurd
But true!!!!
Theres no living.
You have a glorified closet because its basically there just to hang your clothes and head back to work.
Posted on 5/10/24 at 11:06 am to Dawgfanman
quote:
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.
Id live with 2-3 roommates if I was working damn near 100 hours a week.
Posted on 5/10/24 at 12:34 pm to Thundercles
160k does not get you to first base in the big apple, not anymore. I got 40% in taxes 15 grand in rent, school loans, car loans, food, park my car that’s three bills a month I need good suits that’s 400 bucks a pop. But it will all be worth it when I land the whale.
Posted on 5/10/24 at 1:08 pm to lynxcat
quote:
quote:AbuTheMonkey IIRC, actually works in IB.
Not directly but I am adjacent and have worked with most of them. Also have lots of grad and undergrad classmates who work all over Wall Street.
Posted on 5/10/24 at 1:55 pm to jimithing11
That’s not 120 hrs 4 weeks straight.
Posted on 5/10/24 at 2:02 pm to Thundercles
It’s their decision, they know what they are getting into
Why would I care about what decisions other adults make for themselves?
Why would I care about what decisions other adults make for themselves?
Posted on 5/10/24 at 2:08 pm to Thundercles
There was a time when I worked those kinds of hours and weren't making a quarter of what they make. You can't hack it? Quit.
Posted on 5/10/24 at 3:50 pm 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.
Not true ... my daughter makes half that and lives in a luxury apartment in the financial district with one roommate.
Posted on 5/10/24 at 3:55 pm to lsualum98
quote:
Not true ... my daughter makes half that and lives in a luxury apartment in the financial district with one roommate.
Sounds like ur daughter is a high-end escort .
Jk, sorry couldnt resist .. i doubt she’s high-end
Posted on 5/10/24 at 3:56 pm to lsualum98
quote:
. my daughter makes half that and lives in a luxury apartment in the financial district with one roommate
that’s because she’s not reporting her hooker income
Posted on 5/10/24 at 7:23 pm to Thundercles
quote:
For reference, these guys are getting paid ~160k out of college with hefty annual bonuses but in return they're expected to be on call about 18 hours a day for two years to make tiny changes and updates and do research for their superiors. If they make it through that meat grinder they enter the making millions territory and that's why they stay around
AKA earning your keep. All people aren’t created equal, same goes for jobs. Want the success? Put in the dirty work. Only a “handful” of people in this world get it served up on a silver platter.
Do your work. Investment banking might be one of the most grueling and cutthroat jobs out there which is why the rewards come in waves.
The real world is a tough, just because you fail at something doesn’t mean you will keep failing or at the very least become good at something else. I feel bad for these guys thinking this is their only path in life.
“Crickets don’t think they’re frogs because they watched a house hunting episode on HGTV. They know they’re lottery winners because of the wars in the middle east.”
-Meghan Markle
Posted on 5/11/24 at 7:16 am to Thundercles
They know what they’re signing up for. I will say that the people who tend to stay in an investment banking long term are typically hardo types without many interests outside of work, and they eventually become the VPs and MDs who set the culture and workload for juniors. A looooot of the hours and tasks are completely unnecessary and specifically created to make juniors lose sleep, but they’re signing up for that.
The juniors with options outside of IB and interests outside of work tend to leave after 2-3 years. It’s easily worth 2-3 hard years for those that take that path and parachute out.
The juniors with options outside of IB and interests outside of work tend to leave after 2-3 years. It’s easily worth 2-3 hard years for those that take that path and parachute out.
Posted on 5/11/24 at 7:33 am to lsualum98
quote:
my daughter makes half that and lives in a luxury apartment in the financial district with one roommate.
Hate to break it to you, she's doing something "extra" to get that cheap rent
Posted on 5/11/24 at 8:52 am to Thundercles
Your typo made me think they would work 80-100 weeks and then get shitcanned.
I work 60 hours a week or more. I first full-time job was an area supervisor for Wendy's. I was 19. I worked 7 days a week, at least ten hours a day because the franchise was opening up new restaurants all the time.
My first job was at 15 hoeing cotton. We'd arrive at the crack of dawn and work until dark - every day but Sunday. And we weren't looking foward to being millionaires LOL.
I work 60 hours a week or more. I first full-time job was an area supervisor for Wendy's. I was 19. I worked 7 days a week, at least ten hours a day because the franchise was opening up new restaurants all the time.
My first job was at 15 hoeing cotton. We'd arrive at the crack of dawn and work until dark - every day but Sunday. And we weren't looking foward to being millionaires LOL.
Posted on 5/11/24 at 9:18 am to lsualum98
quote:
Not true ... my daughter makes half that and lives in a luxury apartment in the financial district with one roommate.
I dated a girl who paid 3200 to live in a box in Manhattan in a semi-decent neighborhood. Your math ain't mathin.
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