2 answers

When you are an investment-banker how long are the hours you work?

Asked Irvine, California

I would like to know how many hours does an investment banker usually work. #finance #investment-banking #investment-banker

2 answers

Gary’s Answer

Updated Ghaziabad, Uttar Pradesh, India

Investment bankers work long hours. When I was a banker, I worked a few 60-hour days, many 30-hour days (which means I did not come home for 1.5 to 2 days). and commonly from 9AM - 1AM. This is quite usual in M&A. The hours are highest when one is an Analyst, and go down as one progresses up the ladder. Managing Directors are often gone by 6PM - but for them the day does not end at 6PM. They're flying places. Friday is a good day; ends early around 6PM unless there is a deal going on, and something needs to be done by Monday. But I often worked both days - Saturday and Sunday, coming in for several hours. In total a 80 hour week was not unusual. 100 hours in a week (there are only 140 hours) was only in extreme situations. I often wondered why it took so long to get stuff done. Looking back now after many years of having done it (and now being a venture capitalist), I realize a lot of the work was mundane, irrelevant, low-value-added. But banking has this culture of instanenous response to clients, turning documents around rapidly, and going above and beyond on simple requests. An Associate makes $200,000 to $500,000 a year for which they work 80 x 50 = 4,000 hours per year. That works out to about $50/hour to $125/hour. Not bad but its all about the hours. The hours do decline but you are wedded to your work, and it never really stops.

Updated
Concur with the above and suggest that hours might be even more variable at smaller firm that serve middle-market or small companies. Wall Street oasis and mergers and inquisitions are finance -specific sites that walk you through what a week might be like.

Christan’s Answer

Updated Washington, Washington
80-100 hours would be the expected. Sometimes you could find it around 70.