Investment Banker

Investment Banker

Frank

Los Angeles, CA

Male, 35

“It seemed like a good idea at the time.”

As a liberal arts grad with mountains of debt and molehills of direction, I took an analyst job at a top NYC investment bank. Neck-deep in spreadsheets and working around the clock, I fought to keep my head above water in a sea of brilliant, khaki-clad sociopaths. While the money and education were great, I quickly learned how the finance world really works... and I wanted no part of it. After 9/11, I left for good.

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Last Answer on November 20, 2014

Best Rated

What is the holiday system in Investment Banking? Do you get a certain number of days? Are you allowed to take them whenever you want to?

Asked by sultanoflondon over 10 years ago

I honestly can't even remember what we were technically entitled to in terms of holidays/vacation, because it was really irrelevant. There was probably some company literature that said we were allowed two weeks' vacation and federal holidays off, but that's not how it worked in practice. If there was work to be done, we were to be in the office. I've worked Thanksgiving Day, Christmas Day, and New Years Eve, and I was not alone.

That said, some analysts attempted to take vacations, but it was rare that they'd truly untether from the office – the calls, emails, and work would need to be handled remotely if possible, or the vacations would end early if on-site work was necessary. Furthermore, taking vacation was dangerous, because it signaled superiors that you weren't busy enough. So when you returned, the avalanche was unfathomable.

Obviously this changes as one moves up the ranks, and admittedly, at age 22-23 my fellow analysts and I were reluctant to assert ourselves in this regard. But generally speaking, our understanding was that "work" owned us, and free time could not be pre-planned.

Which would be better for breaking in to IB/S&T: chemistry at a target school or maths/finance at a non-target/semi-target?

Asked by LJ over 10 years ago

Rightly or wrongly, banks tend to care more about the school than the major. The Harvard English major has a far better shot than the Mississippi St. finance major. That doesn't mean the latter isn't qualified or has no shot, but the target-schooler has a better chance of getting a foot in the door.

Firstly, thanks for doing this. Despite the extremely long, unpredictable hours, do you have breaks, lunch etc.? Or are you eating and drinking at your desk for 10-20 hours a day? Thanks!

Asked by sultanoflondon over 10 years ago

It depends on the day. On the more hectic days, you're more or less chained to your desk given the volume of work and deadlines. On other, slower days, you might be able to sneak away for lunch/dinner/coffee. Keep in mind that long days (12+ hrs) aren't necessarily dense, because quite a bit of that time you might be waiting idly for feedback from superiors, responses from clients, or output from the document processing center.

In short, breaks/meals aren't institutionalized in the way that they are at more traditional, 9-to-5 jobs, but they're not altogether absent. Bankers grab food or take a breather if/when time permits.

I am currently doing my Btech in Accounting Science: CTA Stream and would like to know what must I study from now if I want to become an Investment Banker?

Asked by Kedumetse over 6 years ago

 

Hi there, I am currently studying physics at UCL and wish to go into investment banking after I finish my masters. Is this possible? How realistic are my chances since its not a finance degree.

Asked by Jay over 9 years ago

 

Hi thank you for your time. I'm an 18 year old planning to do investment banking and then private equity if able to. My question is how long does it take to get to the director level and does it put you back down in the ladder if you switch fields?

Asked by Manav about 10 years ago

 

What usually happens to a bank stock after the bank's bailout?

Asked by Ian over 7 years ago