Goldman Sachs investment bankers have had it. Calling for a 80 hour cap and systemic changes.

[Insensitive]

I started my career as an investment banker, I quit in a few months. Didn't feel like it was worth it. I have a few friends at GS and it's not only the highly paid IB that work long hours, but everyone that doesn't earn a lot of money like those in operations. Is it worth it? Maybe for some, but I'd say probably not. If you love finance and investing, you can make money anywhere.

Did you go to a Top 20 university ? Also what did you major in ?

Also in your opinion what do you think of the chances of an adult in their mid-30's, post-mba pivoting
into investment banking ? Is it even feasible ?

 

[Fillerguy]

The most recent issues have been largely driven by the SPAC boom and the fact that analysts and associates, 1st years in particular, are in a work from home environment so there is a lack of mentorship, training and socializing while working obscene hours alone.

As much as I bytched about my analyst years, the socializing made it bearable (and fun at times).

I was going to post this. Working from home, by yourself, forces us to look in the mirror.

I work in trade operations at an investment bank, not sales. This bytch practically runs itself, my group is just here to take the blame when it stops working. an attentive hs grad could perform my job

 

[Serious]

I was going to post this. Working from home, by yourself, forces us to look in the mirror.

I work in trade operations at an investment bank, not sales. This bytch practically runs itself, my group is just here to take the blame when it stops working. an attentive hs grad could perform my job

thats most jobs in a nutshell.

Degrees are legit gatekeepers.

 

[chineebai]

Did you go to a Top 20 university ? Also what did you major in ?

Also in your opinion what do you think of the chances of an adult in their mid-30's, post-mba pivoting
into investment banking ? Is it even feasible ?

Majored in finance from a cuny. I knew someone who got me an internship so I had to do grunt work for a bit until I pass my series 7 and 63. Basically you try to get clients and churn. Doesn't matter if you made them money, you still get a percentage. People working at ib were basically a huge frat house.

If you have no experience, then yeah it's hard like any other job but it's possible you can just start at the bottom and work your way up. Like even for me if I wanted to get back into finance it's hard unless I want to start at the bottom again. It's a sales job. Mortgage loan officers are underrated, they can pull in 200k+ easily during a hot market.

The richest people I know are in finance though. If you make it you can easily pull in a mil+ a year. Sometimes I wonder had I stuck with it but shyt I ain't doing so bad either.

 

[MJ Truth]

What a punk. Workplace conditions suck? Speak up. Don't just take it. Don't accept it as ok. And fukk if someone else did it before. That's their problem not yours.

You do realize nobody is forcing them to take this job, right? It’s not as though they don’t know going in the kind of work conditions investment banking has. But long run these guys end up way ahead financially.

 

[Secure Da Bag]

You do realize nobody is forcing them to take this job, right? It’s not as though they don’t know going in the kind of work conditions investment banking has. But long run these guys end up way ahead financially.

Again. So? That has nothing to do with nothing. Just because you're in an industry doesn't mean you have to be treated like shyt. No matter how much money you make or gonna make.

I get that most people are saying: they're rich, they were born with silver spoons in their mouths, 1st time they are struggling in their lives, so get over it. But the fact is: they're being treated like shyt and there's no reason for them to accept or take it.

And that goes for any job regardless of pay or industry.

 

[MJ Truth]

Again. So? That has nothing to do with nothing. Just because you're in an industry doesn't mean you have to be treated like shyt. No matter how much money you make or gonna make.

I get that most people are saying: they're rich, they were born with silver spoons in their mouths, 1st time they are struggling in their lives, so get over it. But the fact is: they're being treated like shyt and there's no reason for them to accept or take it.

And that goes for any job regardless of pay or industry.

There IS a reason for them to accept it and take it. Because of the reward on the back end and the fact they’re replaceable.

They’re literally putting themselves in position to @Secure Da Bag breh.

 

[King Theo]

Again. So? That has nothing to do with nothing. Just because you're in an industry doesn't mean you have to be treated like shyt. No matter how much money you make or gonna make.

I get that most people are saying: they're rich, they were born with silver spoons in their mouths, 1st time they are struggling in their lives, so get over it. But the fact is: they're being treated like shyt and there's no reason for them to accept or take it.

And that goes for any job regardless of pay or industry.

yea to me this is about right and wrong taking adv and not taking adv.

the issue is if this is known at that level and is allowed. mf sales managers all over the place do this same exact thing for you to make a fraction of the money. that's why yes they will be set up financially forever but that isn't what really matters in all of this. will the money matter when you can't go home to your family will the money matter when you are missing your kids games. will the money matter when your wife doesn't want to be with you anymore because you aren't there. and a lot of times if they are staying its because they want to keep the money in their life.

and of course we should be feeling bad for others first. but we can walk and chew gum at the same time. we don't have one slot in our brain to only be able to empathize and sympathize with one group or person at a time.

I've worked jobs that do exactly what is happening here I made twice what I make now buuuut I had no time to have a life and when I did it only consisted of temporary satisfaction (women, drugs, partying). when I wrecked my car after a long week between work and schmoozing I told myself I was done with both. but in actuality I should be able to have that job without draining myself. because we all know a lot of what we do will continue to run itself when you subtract the extra hours and time.

 

[dora_da_destroyer]

yea to me this is about right and wrong taking adv and not taking adv.

the issue is if this is known at that level and is allowed. mf sales managers all over the place do this same exact thing for you to make a fraction of the money. that's why yes they will be set up financially forever but that isn't what really matters in all of this. will the money matter when you can't go home to your family will the money matter when you are missing your kids games. will the money matter when your wife doesn't want to be with you anymore because you aren't there. and a lot of times if they are staying its because they want to keep the money in their life.

and of course we should be feeling bad for others first. but we can walk and chew gum at the same time. we don't have one slot in our brain to only be able to empathize and sympathize with one group or person at a time.

I've worked jobs that do exactly what is happening here I made twice what I make now buuuut I had no time to have a life and when I did it only consisted of temporary satisfaction (women, drugs, partying). when I wrecked my car after a long week between work and schmoozing I told myself I was done with both. but in actuality I should be able to have that job without draining myself. because we all know a lot of what we do will continue to run itself when you subtract the extra hours and time.

A lot of y’all don’t know these guys who are bankers, and you answered all those questions with the last sentence - they want the money, and some enjoy the work/prestige - to the point that they are perfectly fine being absentee fathers and shyt partners. The ones who value more well rounded lives usually exit banking

 

[Serious]

There is a HBO series called Industry on analysts in the investment banking sector in London. The ultimate question centers around if the money is worth it?

I know I wasn’t the only one who started binge watching this last night

 

[Frangala]

I know I wasn’t the only one who started binge watching this last night

Started watching this since I am in finance so it is somewhat relatable after Billions stopped filming due to Covid plus it is a British produced show. In my personal opinion, British TV has been coming out with hits lately. A bit too graphic for my taste but continued watching it has been renewed for season 2 so a significant amount of ppl watched it.

 

[No1]

thats most jobs in a nutshell.

Degrees are legit gatekeepers.

No, it isn’t most jobs that require degrees. Are we forgetting that high school education is mostly trash in the United States? When people say things like this they’re thinking of themselves in high school and not the average person. Most high school graduates can barely write a grammatically correct sentence.

 

[null]

Why not just hire 2x the workers, pay everyone $80K instead of $150K and have them work 50 hours a week instead of 100 hours

something about cooks and diluting quality ...

Brooks' observations are based on his experiences at IBM while managing the development of OS/360. He had added more programmers to a project falling behind schedule, a decision that he would later conclude had, counter-intuitively, delayed the project even further. He also made the mistake of asserting that one project—involved in writing an ALGOL compiler—would require six months, regardless of the number of workers involved (it required longer). The tendency for managers to repeat such errors in project development led Brooks to quip that his book is called "The Bible of Software Engineering", because "everybody quotes it, some people read it, and a few people go by it".[1] The book is widely regarded as a classic on the human elements of software engineering.[2]

The Mythical Man-Month - Wikipedia

 

[null]

Not everyone can do the job

And when you find a good investor, that's essentially printing money for you, you dont want them to go home... ever

America is a disgusting place

haven't read the article but with those hours aren''t this lot working in corporate finance or mergers and acquisitions.

junior traders aren't working those sorts of hours.

 

[Eye Cue DA COLI GAWD]

If the average hourly person worked 100 hour weeks, they could gross 125k easy lmao... these are ridiculous hours and not really worth the 'high earning' potential some of y'all say it is