4 ms·

Baffles me that anyone would want to live like this. The sooner this bizarre culture dies out, the better.

bottled_poe 6y ago
It won’t. There will always be people willing to put in more, especially when your future of making many millions is on the line. This is what unions are for.
braveyellowtoad 6y ago
It won’t die out. People like money. Analyst IBD roles represent not only some of the best compensated roles out of Uni, but puts on a path to a long well-compensated career either at GS or another bank. Or an exit opportunity. And the young folks that go into these roles probably busted their butts at Uni after busting their butts at high school. They are ready for it. And once you get in the culture you get normalised to it.
- partingshots 6y ago
  Tech pays so much more though, and you don’t have to kill yourself either for it? (genuinely can’t imagine doing 80-100 hour work weeks) IBD is a dead meme at this point in my opinion. Like how being a lawyer used to be the most lucrative career path.
  - jboog 6y ago
    Yeah but you need to be a top engineering/CS kid to get those high-paying tech jobs. All you need to get a job in IBD is go to a top school, have a high gpa, and be able to memorize some basic accounting and finance and not blow your interviews. Getting a technical degree like CS and then passing the interviews at a place like Google or whatever the hottest unicorn grads wanna work at is way tougher IMO
    - partingshots 6y ago
      If you can get into a top school, you can spend the few hours to study for technical interviews. Seriously, I’m not joking. It’s not as hard as you make it out to be.
      - jboog 6y ago
        I wasn't claiming the technical interviews require some genius, but they are way tougher than IB interviews.
    - dkdbejwi383 6y ago
      You can make almost as much money (well above the average) doing a "normal" 35-40 hour week in tech. I'd rather have a sensible work:life balance and earn a bit less, than spend my entire life working until midnight. Plus, I find tech is very egalitarian. Nobody cares whether you went to a public or state school, if you have a regional accent or anything like that. Banking still has the "old money" club problems.
dfgdghdf 6y ago
It's a pyramid scheme of sorts. The graduates don't even get paid very well. If you succeed though, you can start a modest retirement at 40.
5tefan 6y ago
And after they had their share of that life style they start writing books and blogs on what is the meaning of life.

It won’t. There will always be people willing to put in more, especially when your future of making many millions is on the line. This is what unions are for.

braveyellowtoad 6y ago

It won’t die out. People like money. Analyst IBD roles represent not only some of the best compensated roles out of Uni, but puts on a path to a long well-compensated career either at GS or another bank. Or an exit opportunity. And the young folks that go into these roles probably busted their butts at Uni after busting their butts at high school. They are ready for it. And once you get in the culture you get normalised to it.

partingshots 6y ago
Tech pays so much more though, and you don’t have to kill yourself either for it? (genuinely can’t imagine doing 80-100 hour work weeks) IBD is a dead meme at this point in my opinion. Like how being a lawyer used to be the most lucrative career path.
- jboog 6y ago
  Yeah but you need to be a top engineering/CS kid to get those high-paying tech jobs. All you need to get a job in IBD is go to a top school, have a high gpa, and be able to memorize some basic accounting and finance and not blow your interviews. Getting a technical degree like CS and then passing the interviews at a place like Google or whatever the hottest unicorn grads wanna work at is way tougher IMO
  - partingshots 6y ago
    If you can get into a top school, you can spend the few hours to study for technical interviews. Seriously, I’m not joking. It’s not as hard as you make it out to be.
    - jboog 6y ago
      I wasn't claiming the technical interviews require some genius, but they are way tougher than IB interviews.
  - dkdbejwi383 6y ago
    You can make almost as much money (well above the average) doing a "normal" 35-40 hour week in tech. I'd rather have a sensible work:life balance and earn a bit less, than spend my entire life working until midnight. Plus, I find tech is very egalitarian. Nobody cares whether you went to a public or state school, if you have a regional accent or anything like that. Banking still has the "old money" club problems.

dfgdghdf 6y ago

It's a pyramid scheme of sorts. The graduates don't even get paid very well. If you succeed though, you can start a modest retirement at 40.

5tefan 6y ago

And after they had their share of that life style they start writing books and blogs on what is the meaning of life.