How stressful is investment banking? (2024)

How stressful is investment banking?

Investment banking is one of Wall Street's most coveted roles. It is also one of the hardest. It is no surprise that the average day in an investment banker's life is long and stressful. Those who manage to survive the adjustment period often go on to have long and financially rewarding careers.

How intense is investment banking?

Investment bankers are notorious for working long and demanding hours, with work weeks well exceeding 40 hours being the norm for entry-level investment banking analysts. In a competitive culture where putting in extra-long hours is regarded as a badge of honor, a 9-to-5 routine is pretty much unheard of.

Is investment banking more stressful than consulting?

Both consulting and investment banking have heavy workloads, but consulting has it “easier” As a consultant, you can expect to work anywhere for an average of 60-80 hours a week. Meanwhile, an investment banker's weekly work may take up to 100 hours and sometimes even reach 120 hours a week.

Are investment bankers overworked?

Investment bankers work notoriously long hours, with the typical work week filling in 60-80 hours per week, and the occasional high-intensity work week that can push a banker to 100+ hours.

How many hours of sleep do investment bankers get?

But people in IB (at least people I kind of know) work until about 2am every day and come into office between 9/9:30. So realistically they get about 5-6 hours of sleep (or even less in busier periods) and are expected to be functioning 100% every day.

What is the Goldman Sachs 15 minute rule?

Have you ever heard of Goldman Sachs' 15-minute rule at Goldman Sachs? It means you have to respond to an email in 15 minutes or less no matter what. It doesn't matter if you: - showering - hiking in the mountains - attending your son's wedding - saving someone from a drowning vehicle Unreasonable?

How much free time do investment bankers have?

A Week in the Life of an Investment Banker

In an average week, you will not have much free time on weekdays. Many Analysts are in the office from 9 AM to 1 AM each day, and sometimes a bit less than that on Friday or other “slow days.”

Why are investment bankers so stressed?

Investment banking is a demanding and competitive field that can take a toll on your physical and mental health. Long hours, high pressure, and tight deadlines can cause stress, burnout, and anxiety. However, there are ways to cope with these challenges and maintain a healthy work-life balance.

Do investment bankers enjoy their jobs?

The demanding work culture, long hours, and high-pressure environment can take a toll on individuals who are not well-suited to these conditions. However, for those who are motivated by financial rewards and are willing to work hard, investment banking can be a fulfilling and rewarding career choice.

Are consulting hours as bad as IB?

Work hours – Consultants work fewer hours. Though there are challenging projects that require consistent long nights, consultants can expect to head home before midnight on most days. Focus – Consultants focus on one project at a time. Investment bankers usually have multiple deals going on at once.

At what age do investment bankers retire?

Age Range: It's nearly impossible to reach this level before your early 30's, so we'll say 35-50 for the range. Few MDs continue working until the official retirement age (65-70); it's a stressful, high-pressure job, and past a certain net worth, it's just not worth it.

Are investment bankers wealthy?

It is possible to become a millionaire as an investment banker, but it is not easy. Investment bankers typically earn salaries in the $200,000 to $700,000 range, with bonuses that can bring their total income up to several million dollars per year.

Why are investment bankers paid so well?

Investment banks often compete to attract and retain top talent, which drives up salaries. 2. High Levels of Responsibility: Investment bankers handle complex financial transactions, such as mergers and acquisitions, initial public offerings (IPOs), and large capital raising deals.

Do investment bankers work 80 hours a week?

Yes, investment banking hours, especially in your first year or two, are always bad (think: 70-80 hours in the office per week). But junior bankers also tend to exaggerate their hours, often by not subtracting downtime or breaks during the day.

How many days a week do investment bankers work?

Investment banking is not a normal 9-to-5 job — investment bankers can work anywhere from 60 to over 100 hours per week, depending on the company and the deals at hand. According to a 2021 Working Conditions Survey by Goldman Sachs, first-year investment banking analysts work more than 95 hours per week, on average.

What is the average day of an investment banker?

Investment bankers meet with clients, send emails, prepare offers, conduct financial projections, work on signing new clients to the company, providing initial public offerings (IPOs), and mergers and acquisitions. These are some of the tasks an investment banker must do on a daily or weekly basis.

How much PTO does Goldman Sachs give?

On 1 May 2022, Goldman Sachs introduced a new global “flexible vacation” scheme that allows partners and managing directors to take time off when needed, without a fixed vacation day entitlement.

Is Goldman Sachs too big to fail?

Companies Considered Too Big to Fail

Bank of America Corp. The Bank of New York Mellon Corp. Citigroup Inc. The Goldman Sachs Group Inc.

Who is the longest serving employee at Goldman Sachs?

Alfred Feld, a wealth manager who was Goldman Sachs's longest-serving employee and whose career tracked the investment bank's rise to predominance on Wall Street, has died, Goldman's top executives said in a memo on Tuesday. He was 98.

What are the odds of becoming an investment banker?

The lucrative and fast-paced career of an investment banker is a highly competitive one. For instance, in a recent year, 236,000 applicants competed for roughly 3,500 internships at Goldman Sachs. This is common across the industry where acceptance rates for programs are typically less than 2%.

Is 30 too late to get into investment banking?

The short answer is: no. There is no age limit that formally disqualifies you from starting a career as an investment banker. It is possible to join the field at 22, 27, 34, 38, or even 50 and above. That being said, it is true that the younger you are, the higher your chances.

Do you get weekends off in investment banking?

Many investment bankers work long hours and some weekends, but others don't work as often. One reason is that some investment bankers are senior-level employees who don't work as many hours because they already possess enough experience and expertise to complete their tasks without supervision.

What is the hardest job in finance?

Do investment bankers get fired?

I have spent over two decades working in US investment banks; during that time I have both been fired myself and I have hired people who have been fired. When you work in financial services, this is something you must expect.

What job is the least stressful?