<p>Is working 80-100 hours each week for a year perfectly normal in I-banking?</p>
<p>Also is a finance major basically mandatory for I-banking?</p>
<p>I know that the recruiters say all majors accepted, but would an EE/CS major be even considered?</p>
<p>Some weeks you'll do much more than 80 like 120-140 hours, it all depends on the deal you're working on. Multiple all-nighters worth of work is not unheard of.</p>
<p>There's no gneral major requirement, it's just that you need to come from a school that's recruited well.</p>
<p>I can still recall a particularly brutal couple of weeks (way back when) - basically i went home to catch a very short nap (sometimes no nap), shower, change and head right back into the office - this lastest for at least two weeks straight - no weekends.</p>
<p>I thought I was losing my freakin' mind. My girlfriend back then didn't believe I could be working that many hours - she was sure I was cheating. Man, I can still feel the pain - I get shivers just thinking about that. It just plain sucks there are no two ways about it.</p>
<p>How terrible...</p>
<p>Is moving up the I-Banking ladder (analyst->associate->VP) more of a matter of seniority or is it more based on ability? Do people last in I-Banking, or do they generally use it as a stepping stone onto other positions?</p>
<p>I've been surfing the net about I-banking, and it seems like a meatgrinding job.</p>
<p>How do the hours work out for interns? Essentially they are analysts-in-training, but are their weekends free or are they basically pulling the 100 hour weeks (on average) from the moment they start? What exactly are I-bankers doing that they are staying so late?</p>
<p>Average work week 70 hours..(source unknown)</p>
<p>That number's from Princeton Review. But that includes like MDs that do no work as well as analysts that never go home.</p>
<p>average is probably more around 90 than 70...at least from my experience.</p>
<p>
[quote]
How do the hours work out for interns? Essentially they are analysts-in-training, but are their weekends free or are they basically pulling the 100 hour weeks (on average) from the moment they start? What exactly are I-bankers doing that they are staying so late?
[/quote]
</p>
<p>If you read that Running Of The Bulls book, one of the interns for Lazard pulled a 140 hour week during her internship.</p>
<p>"If you read that Running Of The Bulls book, one of the interns for Lazard pulled a 140 hour week during her internship."</p>
<p>I think she also got a full time offer--while others you seemed unable to handle that type of pressure were progressively left out. </p>
<p>If hours are truly a concern, you may be better off looking elsewhere.</p>
<p>What are the average work hours and compensation for analysts, associates, and VPs?</p>
<p>Analysts, 1st yr: 90-110 hours on average (almost all weekends), $120-$140k
Analysts, 3rd yr: same hours (almost all weekends), $180k-$200k
Associates, 1st yr: 75-100 hours (half the weekends), $230k-$300k (ML paid $300k this year, and ML is notoriously stingy in terms of pay)
VP: 65-90hours (very few weekends), $550k-$1MM or more
MD: 50-70hours (no weekends), $2MM+ to astronomical</p>
<p>"while others you seemed unable to handle that type of pressure were progressively left out. "</p>
<p>Others that--not you. I don't know why in the world I put you.</p>
<p>FutureNYUStudent, i was just wondering if you could provide the source where you got those salaries from.</p>
<p>Guesstimates.</p>
<p><a href="http://www.ibankingoasis.com%5B/url%5D">www.ibankingoasis.com</a></p>
<p>Various data collected from that site and some guesstimating.</p>
<p>Being an ibanker is almost pretty much being a doctor, just comparing the hours and the salaries.</p>
<p>What is the function of Associates and VPs? I already know analysts basically do monkey work.</p>
<p>Associates do some monkey work, get some client contact, give analysts crap, and they basically take crap from everybody. </p>
<p>VPs mostly travel to clients and stuff, crap on analysts, and take crap from MDs.</p>
<p>futurenyustudent, your guesstimates seem MUCH higher than what bankers really get paid. check out these websites:</p>
<p>Is it "easy" to become an associate or VP? </p>
<p>I mean are people usually able to become associates or VPs simply by lasting a certain number of years in the business? Or do you have to prove some serious skill by being the best analyst to become an associate and being the best associate in your department to become a VP?</p>