<p>I have heard many times that IB requires people work very long hour. Someone even said 80-100 weekly!!!!!!!!!!! Did they overstate it? I mean, even a person can work 16 hours/day and 6 days/week, it's only 96 hours .....................
I don't think it's true, but if anyone here can tell me what is the average hours for IB and how you know it? thx so much</p>
<p>First years work all 7 days. The hours are typically 10 a.m to 2 a.m.
Banking</a> Lifestyle | IBankingFAQ</p>
<p>it's such a great source ^_^ thx. After reading it, I really have to rethink my future career...... I am not the kind of person who can delicate all time for working.</p>
<p>I'm currently doing an SA stint at a BB. Hours are awful, but you learn A LOT! I usually get in at 8:30AM and don't leave until after midnight on Monday through Fridays. I also work Saturdays.</p>
<p>I'm in banking right now (albeit DCM, not M&A). My hours are ~7am-8pm, Monday-Friday (we're pretty tied to the market, so no Saturdays really).</p>
<p>However, that website definitely overstates it. M&A analysts definitely do not average 90-100 hours a week. I say they probably average 80-90 hour weeks. They may work more at some of the places known for being sweatshops (MoCo, UBS LA, Goldman).</p>
<p>...uh....... interesting. a little bit different, but stil over 80 on average</p>
<p>I worked at a top 10 M&A boutique and worked 50 a week. 60 in a bad one. There's a lot to be said for quality of life outside NY and outside the BB.</p>
<p>it's all about being a quant...that's where the life is!</p>
<p>Where did your work Spiders? Are hours that much better in other parts o the country?</p>
<p>I wish there were more quality IB jobs outside of NY/London. Those two cities are awful, I don't care what anyone says. Way too crowded, way too expensive, and way too filthy. I would easily take a 50% pay cut to have the same job in a proper city with proper cost of living and proper quality of life.</p>
<p>I worked at a smaller boutique that did more M&A work than most BB's in our area of expertise. Granted, we worked on smaller deals, but we were ranked ahead of most all of them in terms of the number of deals. I was working outside of the typical IB cities.</p>
<p>nonnard- what is DCM?</p>
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nonnard- what is DCM?
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<p>It stands for Debt Capital Markets, which is one group for banking. Generally, it has fewer hours (but less pay), when compared to LevFin or M&A.</p>
<p>I know a person who worked 120 hours as a second year analyst in a BB. This was around the time quarter's end though, so obviously it'll be crazier. Generally 80-100h/week is pretty fair.</p>
<p>Worst case for a buddy of mine (NYC M&A for a BB) was back to back 125 hour weeks as a first year analyst. For those counting at home, that's fourteen consecutive days of 18 hour days.</p>
<p>^holy hell</p>
<p>IB is all about long hours..but good pay.</p>
<p>M&A is very cyclical. When there is a live deal you can expect at least 80 hours. When there's no merger activity occuring, the hours are less. I've heard of bankers leaving the office at 4pm. But when there is a live deal expect the worst.</p>
<p>Also, coverage groups tend to have less hours compared to product groups.</p>
<p>What is the difference in a coverage and product group?</p>
<p>coverage groups focus on a particular industry. (healthcare, financial sponsors, technology, etc.) </p>
<p>product groups focus on a particular financial product (mergers & acquisitions, leveraged finance, etc.)</p>