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re: How do you feel about young NY investment bankers being worked 80-100 weeks?
Posted on 5/9/24 at 8:09 pm to Thundercles
Posted on 5/9/24 at 8:09 pm to Thundercles
quote:
There's a slew of new conversation this week after a 35 year old guy dropped dead from being "overworked" and now people are coming out of the woodwork claiming horrible conditions and demanding "change". This happens every 2-3 years it seems (the complaints, not dying suddenly), and it's always the younger ones. LINK / 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. 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?
I spent a summer in M&A advisory before moving on to data science and analytics (where real shite happens) and I can’t tell you why this industry glorifies long hours. Not needed.
Anyone can do that line of work. It just requires PowerPoint for information memorandums and pitch books, Excel for “creatively” generating graphs to put in your PP deck for partners to sell, and stimulants to deal with the abuse.
The rest is bullshite and very non technical.
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