it's a great question. i think the only "real" explanation is that junior bankers become senior bankers, there are very low barriers to entry once you're inside

it's a great question. i think the only "real" explanation is that junior bankers become senior bankers, there are very low barriers to entry once you're inside (learn excel and accounting), and so working 100 hours a week is a way to limit the competition and prove your worthiness - you wanted it more than anyone else. mindless, yes. but it makes sense - banking is basically an exceptionally lucrative gentleman's occupation. particularly considering the largest clients have the resources to do M&A in house, so the bank most often gets paid fees for justifying what the client was already going to do.