Donations to Hillary Clinton 's presidential campaign were not barred by the policy, since neither Clinton nor her running mate Tim Kaine was a sitting state or local official. The company has been on Fortune Magazine 's Best Companies to Work For list since the list was launched in , with emphasis placed on its support for employee philanthropic efforts and high employee compensation levels.
He chose to receive "some" cash unlike his predecessor, Paulson, who chose to take his bonus entirely in company stock. In , the company reduced its workforce by 2, positions. Notable members currently on the board of directors of the company are M. Michele Burns , William W. George , James A. Johnson , Ellen J. The company's officers are listed on its website as follows: . The Bangalore office, inaugurated among much fanfare in , was the third largest global office for Goldman Sachs.
Salt Lake City office at South Main. From Wikipedia, the free encyclopedia. Manhattan , New York City. Operating income. Net income. See also: Goldman—Sachs family. Main article: Goldman Sachs Capital Partners. See also: Goldman Sachs Foundation. This section may be too long to read and navigate comfortably. Please consider splitting content into sub-articles, condensing it, or adding subheadings.
April Main article: Goldman Sachs controversies. See also: s commodities boom. Main article: 1Malaysia Development Berhad scandal. Banks portal. Securities and Exchange Commission. Retrieved March 29, Goldman Sachs. Retrieved May 14, The Economist. July 28, November 1, USA Today. April 15, The New York Times. June 17, Bloomberg L. November 9, New York: A. Cohan Penguin Random House. July 20, Retrieved August 1, March 16, Washington Post. Timothy Q. Cook; Robert K. Laroche eds.
Business Expert Press. Retrieved January 24, November 22, CNN Money. December 22, Chicago Tribune. May 3, The World Bank. January 25, March 27, Retrieved November 2, The Daily Star.
Retrieved January 17, May 16, Retrieved May 17, Here Is What We Know". Personal finance. Financial Times. The Telegraph. The Guardian. Retrieved September 12, The Wall Street Journal. September 23, The Washington Post. Retrieved May 3, Business Wire. July 22, Retrieved February 15, Bloomberg News.
December 10, Federal Reserve. December 1, ". Retrieved December 3, ". October 11, August 2, The Australian. September 15, September 25, Retrieved April 7, Goldman has now scored one of the biggest tech prizes around. United States Department of Transportation. Archived from the original on April 3, August 13, Business Insider. Associated Press. Retrieved August 20, Retrieved November 21, Market Wired. April 13, April 23, Retrieved February 22, The Daily Telegraph. Retrieved March 1, Now you can find out". July 15, All the Devils Are Here.
Fortune Magazine. Forbes Magazine.
What's fascinating to us is how the spirit of Taibbi's piece, if not its details, has really caught on. They called it "Goldie Mac".
These are the top 9 investment bank internships
The New York Times news report on the reaction to Goldman's earnings also didn't shy away from these sentiments. It said that Goldman's traders are known as the Bandits of Broad Street which is clever, although we haven't heard that one before and quoted an unnamed Wall Street who compared Goldman staff to "orcs" in the Lord of the Rings which is even better. Rolling Stone. March 20, The Atlantic. Retrieved April 29, Bernie Sanders. September 16, Goldman, Sachs Co. Archived from the original on February 2, Retrieved March 26, February 3, Der Spiegel. Retrieved July 1, Goldman Sachs conquers Europe".
The Independent. Irish Times. October 27, October 19, The Observer. The Week. October 1, Harvard Business Review. Kolhatkar, Sheelah July 2, McSherry, Mark July 3, March 31, Retrieved February 23, November 11, Los Angeles Times. You can also elect to go for a 6-month offcycle or directly for a graduate position. Personally, I applied online and attended recruitment presentations made by financial institutions on campus, which ultimately asked attendees to apply online. The recruitment process depends on the bank. Indeed, I would advise that you regularly check investment banks websites to understand their process and application deadlines.
For most investment banks you are required to apply online. You may also attend specific recruitment and networking events organized by banks to learn more about them and tailor your application. You can also contact people on LinkedIn to learn more about an organization from the inside. On top of that, you may contact your university alumni who work for investment banks to check if there are any openings. First start by preparing your CV and cover letter see Resources section. Then you apply online in the investment bank website.
Online application consists of providing personal information, uploading your resume and cover letter, answer a few questions about yourself and your motivation and potentially write an essay. Once your application is successfully approved, you should receive a phone call from an investment banking division HR representative who will ask you to walk him or her briefly through your resume, and ask a few HR questions such as strengths and weaknesses, motivation for joining the bank and to start your career in investment banking, etc. The next stage consists of an invite to complete an online numerical and logic test.
Here there is no secret, you need to practice , the more you practice the better you get. It consists of small maths and logic questions, you are asked to choose between a few answer choices. Sometimes you are required to score at least a certain percentage to proceed to next stage.
They will send you a nice plane or train ticket and book a nearby hotel room for you, close to the assessment center location. In the morning you will meet your fellow wannabe-bankers and you will all go through a day of tests. During that day, you should expect:. Most of the times assessment centers went as described above, but ultimately it depends on the bank.
They gave me a computer with an Excel file and asked me to build valuation models DCF, multiples within a limited timeframe. After the assessment center you will get a feedback. Equities clients include investment banks, regional specialists, mid-cap security houses, boutique brokers, specialist brokers, agency brokers and execution only houses with the team focussed on equity research,equity sales.
Dedicated stand alone Investment Banking team with a track record and experience of the sector for over twelve years. Typical mandates at the Analyst to Director levels. Partnering with clients on trends in the Investment Banking market including compensation trends Analyst report , analysis of strategic and cultural differences between Banks and up to date knowledge of hiring patterns.
Started with the vision to fill a perceived gap in the market for a mid level contingency firm with the service ethos of an executive search firm. Our experienced Consultants joined Austin Andrew to establish lasting and mutually beneficial business relationships with our clients. We strive to develop a long term understanding of our clients built upon trust and integrity, and we always aim to exceed expectations. Focuses on debt, equity and derivative sales, trading and research; wealth management; financial management, operations and middle office; credit and market risk and private equity.
Dartmouth Partners recruits individuals with an outstanding academic or professional background into firms who recognise that a competitive edge is gained by finding and hiring the best human capital available. They work with candidates broadly from years experience. Greenwich Partners are a search and selection firm focused on Buy and sell side equity research, Private Equity, credit and debt investment funds, asset management, alternative investments such as fund of funds and secondaries and corporate development and strategy. The firm focuses on targeting candidates from strategy consulting firms, research houses, investment banks and other private equity or investment firms.
Most of their work is at the Analyst to Director level. Broad-finance recruitment firms with strong relationships with most investment banks and boutiques. Purely specialised finance-focused search firm with broad coverage across both buy and sell side, with strong relationships with many investment banks and PE funds. We recruit from Senior Analyst through to Managing Director level and have been selected on numerous occasions as the Managing Agent for multi-vacancy assignments. Would like to add your firm, contact name or anything else to this list? After having gone through all the online tests, case studies, presentations and the whole investment banking application process, the last five or ten minutes of your interview will always end with "do you have any questions for me?
While this part of the interview is not the most critical one, many applicants still manage to destroy their chances by asking the wrong questions, or not knowing what to ask. Our base advice is to keep the questions fairly simple. While asking a very smart question will probably not be the key factor that will get you the job, asking an overly complex or inappropriate question will definitely hurt your chances of getting hired.
Therefore, do not try to be the most original or smartest applicant by asking overly engineered questions. Here is a selection of the most appropriate questions to ask:. We strongly suggest not to go beyond those categories to limit potential damage. Questions to not ask are as follows:. Typos and grammatical errors simply show that you did not spend enough time on your CV, and therefore, you do not take your applications seriously. This goes together with the first point. Do not forget that a CV is meant to be an advertisement for yourself.
Expand in detail the relevant experiences, and delete entirely what does not sell you best. Note that this also works for any other kind of experience. Also, remember to limit your resume to one page only. For instance, "I analysed the financial reports of company xxx. I compiled the reports. This mostly relates to projects in investment banks. One of the most common questions that gets asked here is this: "How do Imake it into Goldman Sachs? These are the tips we gathered from a "Goldmanite", who spent 16 years at the firm:.
In the U. Firms like Goldman can afford to be very picky, and they hire only the best and brightest. Keep current on world events. Play sports. Play in a band. Act in a play. Learn about wine. Understand how companies market, sell, and produce goods; understand finance and accounting. Also, an MBA will really help. Call them and ask for advice. This is the absolute best way to get your foot in the door. However, this is the most important part.
I decided that I wanted money, so I set a course to get it. If you sincerely have a passion for investment banking, go for it. You will be given some information about the clients; your task will be to answer those questions, and justify the advice you would give to the client. Most case study exercises happen during the assessment centre day, i. Occasionally, some banks give candidates the case study materials beforehand and you will have some time usually one night to prepare. Interviewers want to put candidates into a "real" business environment to test their capability of handling real work.
That is why a case study usually weights much more than any other interview or test during the investment banking recruitment process. Client A wants to get your opinion on which company they should acquire from four companies and why Company B needs to raise capital. They come to you and ask if they should raise debt or equity, and the best way to do it.
Company C approaches and asks you whether they should expand through acquisitions, or organically? There are only few ways to practice case studies: i make sure you read the business news often and ii practice as many as possible. The harsh reality is that most big banks will discount anyone without a 2. Banks receive so many applications that they have to find methods to make a selection, and the first selection is based on academic performance.
All is not lost. There are a few ways that will allow you to get into big investment banks, even though this can be difficult initially. Here are a few commonly suggested routes:. This is the ideal scenario if you studied something other than finance or business for your first degree. Often, this will be sufficient to mitigate your poor performance. When applying to banks, make sure you highlight some mitigating factors for your poor undergraduate performance. In our view, this is a mistake, because such transfers will be highly unlikely. Therefore, we encourage you to apply for lower-tier institutions that may overlook a weak academic performance.
These banks do not receive many applications compared to Goldman Sachs and Morgan Stanley, and also London investment banking boutiques , for which we have compiled an extensive list. Those smaller banks tend to focus on some niche areas such as technology, retail, or natural resources sectors.
This will be your chance to move into top investment banks. Many bankers did not start as an analyst from the graduate scheme. Banks typically specialise in Industry groups technology, retail, healthcare , and therefore industry experience is highly sought after. Life as an investment banking analyst is very hard, so it may not be in your best interest to directly enter into investment banking. There is one way to skip this step: the MBA. Therefore, one solution to poor academic performance would be to do something that you truly enjoy for two or three years work for a corporation, a non-profit organisation, start a business , excel at it, and prepare yourself for a top MBA.
A top MBA on your CV will essentially give you a shot at all the best investment banks, without the pain of a three-year stint as an investment banking analyst! This strategy is often very effective. Many students believe that having a degree unrelated to financewill hurt their chances of getting an interview with London investmentbanks. In your early days as a junior banker, your job will be all about the numbers.
Are you a Computing Science major? Try to practice with native English speakers. If your university is the best or among the top in your country, say so. Having said that, giving too many details will bore them. Useful ways to ask for clarification are, "Could you please clarify your questions? Most employers are looking for diversity of thought, languages and experience. There is no engineered answer for this, but, based on our experience of interviewing candidates, the best answers are:.
Investment Banking is a challenging career and you will indeed learn a lot through the experience. Investment banks attract top candidates from the best schools all over the world. Several candidates do have a genuine passion for finance and investment banking. If this is your case, make sure to stress this. Many bankers love their jobs because they have a visible impact on society and industries.
You will need to substantiate with hard facts why you think it is interesting. Nevertheless the answers above are just "valid" ones. My on the topic is that you should add a personal touch by using a personal "story". Your friend, family member or alumnus, who works in an investment bank, inspired you. The investment banking world is a very, very small world.
This is good because it shows your interest, but it also shows that you are competitive.
How To Get A Job In Investment Banking
Again, don't make this up, as many bankers like to check. Do you think the transaction makes sense? What you need to show is that you like dealing with a lot of numbers. Bankers are well-known to have a short attention span. To conclude, the key words here are: prepare well and be truthful.
Do not EVER lie. It is fine and doesn't mean all hope is lost. Don't wear different colored pants and jackets. Solid white is always a safe option. You are not trying to make a fashion statement so you should be conservative. Silk makes a nicer knot and dimple than most other fabrics. If you just can't, at least make sure it's well-groomed. Golden Rolex if you do have one. Long-sleeve blouses are best. Don't wear a hairstyle that covers your face.
In general, keep jewellery simple, small and discreet. As soon as you can, after at least one to two years of work experience. A Masters degree can teach you a lot about finance. All MBAs are not equal. This is in fact the main purpose of a brainteaser. Brainteasers can tell the difference. With brainteasers, the best way is to tackle them step-by-step, with a clear logic in mind.
So how to handle brainteasers? Don't try to answer within five seconds. The trick here is to think that the numbers from 1 to can come in pairs that add up to Think about how many pairs there are. That's your answer. Another one: "what is 49 x 63? Remember that the hour arm will also move as the minutes pass. The clock is a degree circle. You've got a pool of water. How many times in a day are the hands of a clock at right angles?
Answer: A car drives from point X to point Y, a distance of 60 miles, at an average speed of 30 mph. Answer: not possible as one-way journey has already taken 2 hours. You have 5 pots of coins. One of the pots contains only fake coins. The fake coins weigh 9 grams. The difference between the total weight and will be the answer, e.
It sounds simple, but getting this wrong may jeopardise your chances of passing the interview. Date, time, and length of the interview. Ask whom you will be talking to. This will help your preparation. It would be unacceptable to run out of battery during a call. Make sure you are in a quiet space and undisturbed. Do not ask about money or working hours,obviously. Identify all potential questions that will be asked and practice your answer out loud. This will help make you sound more confident on the phone and will leave a good impression. Also remember to speak slowly and clearly, especially if you have a foreign accent.
Boutique investment banks are usually smaller investment banks that specializes in certain types of sectors or companies. They tend to work on smaller deals or niche deals, usually below a billion dollars. Often, they will work on the the sell-side of a deal i. They are good places to consider if you didn't get an offer at the bulge brackets as they are not sensitive to poorer academic records except for the most prestigious ones and will be a first good step into investment banking.
This independent capital markets adviser provides corporate finance advice, asset management, and deal execution. Large accounting firm providing management consulting and transactionservices. Aperios Partners is a financial services group with activities in Investment Management and Investment Advisory. The company caters to corporations, venture capitalists, institutional investors, and private clients through asset management, corporate finance, sales, and trading.
Investment bank focused exclusively on healthcare. Canaccord Genuity is a global, full-service investment bank focused on growth companies, with operations in 10 countries worldwide and the ability to list companies on 10 stock exchanges. The firm offers mergers and acquisition, private placement, financial engineering, and business disposal and valuation advisory services.
Additionally, it provides legal consulting services. The firm caters to information technology, telecommunications, and media sectors.
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Developing its presence in the UK. We provide direct counsel to corporate strategists and senior management. The firm provides mergers and acquisitions and sell-side advisory to technology-based sectors including SaaS and cloud services, mobility, IT services and outsourcing, internet commerce, infrastructure, information management, enterprise applications, and digital marketing.
Strong in the US, has a London office. It provides merger and acquisition and corporate advisory services. The firm offers mergers and acquisitions, fairness opinions, valuation, cross border transactions, bid defence, and buy and sell side advisory services. Additionally, it provides environmental liabilities, carve outs, supply agreements, regulatory compliance, and intellectual property consulting services.
In the majority of cases, it will include the following:. The first task when you arrive will be to retake verbal reasoning and numerical reasoning tests. They are usually paper-based and can be slightly more difficult than the online version, or longer. The best way to practice is by going on to the SHL website and trying the sample exams.
My advice is to try all the easy questions first, and come back to the hardest ones later. You may also be asked to create a SWOT analysis. This will be similar to the first assignment, except that this topic will not be finance-related. Those usually come at the end of the process, right after lunch or on the following day. Wear business formal suits at all times. Dress to impress, while remaining conservative. From what we've experienced, here are our observations:. London-based banks cover the entire European continent, and often, they also cover Middle East.
Additionally, speaking various languages means that you will be a more "transferable" resource. While speaking European languages is an edge, but isn't the critical decision factor. It could be better grades, more extra-curricular activities, or speaking more languages. Remember that "cultural awareness" is as important as the practical use of languages. Banks are very global and multicultural organisations.
But should you really care about other firms? This seems like a straightforward question; however, a lot of people handle this very badly. Thanks again for the opportunity. Best Regards, XXX. For interns: be aware that this is a very risky move. You have to make a judgment call - is it worth taking the risk? Club memberships are great if you can demonstrate that you are "active".
The point here is to show initiative and leadership potential. It typically shows that you have good interpersonal skills and initiative. Anyone can start a small business with a good idea. Below is some key advice:. At smaller firms i. So you still need to pay attention. What should be the structure of investment banking cover letters? Paragraph 3: An explanation of your relevant skills for the job that make you a strong applicant. Separate recruiting strategy advice i. Please enquire at founder askivy. This can't but impress! Being a "well-rounded" person is a recurring recruiting theme among investment banks.
They show the bank your potential leadership skills, creative skills and open-mindedness. This section at the bottom of your CV is not there to look nice or to fill some space. For each aspect, it will need to either show: leadership , creativity , stamina, or intelligence. When writing your CV, do ask yourself: "How does this hobby add value to my application? It's a bit like going to the Army.
Bank CEO recommends these 17 books for interns who want to know about Wall Street
Those long hours spent checking models and presentations and making everything perfect to the tenth decimal point will transform you into a highly efficient analytical machine. Apart from management consulting jobs, no other job can give you the same level of exposure to corporate strategy at such a junior level.
But when you are working on three deals at the same time, it is 3 a. Learning to prioritise, break down tasks, and stay cool under any circumstances are some of the skills you will develop in little time. Corporate strategy, private equity, hedge funds, startups, you name it. The job has its downsides, of course. The secret to avoid this is to maintain hobbies outside work, keep your ego in check, stay in touch with the real world as much as possible i.
After being ceded by China to the British in , the colony of Hong Kong rapidly became a regional hub for trade with China and South Asia. Hong Kong initially started as a shipping and textile export center, but China's open-door policy in was the year that marked the new era of Hong Kong and its re-birth as a major economic and financial center. Manufacturing moved out to mainland China, was replaced by services, and Hong Kong GDP boomed as trade and investment links with China exploded.
Hong Kong has been handed back to China in , but it is still the. Hong Kong maintains a sound British-style legal system, has had a stock market since the largest in Asia after Tokyo , English is spoken fluently, overall markets are well-managed, and the Chinese government is not too involved with its business yet. Finding a an investment banking job in Hong Kong. If you want to get an investment banking job in Hong Kong, you should note that China's economic rise hasn't gone unnoticed by top students and investment bankers across the world.
More Chinese students and investment bankers now want to go back home as opposed to staying in the U. On top of that, competitive salary packages, low taxes max. London and New York. In other words, if you do not speak a local language Mandarin, Cantonese or do not have useful experience or local contacts, competition will be very intense. In this case, hurdles are big and you will not be received with open arms given that:. Essentially, somebody else will have to do your work. Because of this, you won't be taken seriously by clients or senior management.
What can you do about it? Try to start in London and ask for a transfer later on, or network very very hard and start to learn an Asian language! Job hunting is much easier if you have local ties in China or Hong Kong, but you will still face intense competition. For London-based students and bankers, the best way to move to Hong Kong is often to start in London and ask for a transfer or look for a job at the associate level after two to three years. A London experience will certainly give you a strong edge and earn you respect from colleagues and clients alike!
In addition, analyst training is substantially better in Europe so you'll stand out compared to your peers, and analyst lifestyle is also much better in Europe so you'll avoid some suffering. Investment banking in Hong Kong will be an entirely different experience to that of London or anywhere in Europe and North America , and is usually considered to be a less prestigious location for investment bankers. The main reason is that Hong Kong and China are less sophisticated markets. Getting deals done relies more on "network" than strong execution skills or original ideas.
This means that you will spend less time doing complex models and executions, and much more time writing prospectuses and travelling to talk to clients about latest market and industry trends. If you intend to stay in the region for the long-term or move on to another job locally, you don't need to be a modelling star anyway, and it is the network you are building over the years that counts. If you intend to go back to Europe, you will still be able to catch up on those skills and having the "China experience" on the CV is an interesting differentiating factor.
Finally, IPOs tend to be very profitable and this will be reflected in your year-end bonuses. Investment Banking Lifestyle in Hong Kong. On top of this, you need to add frequent travels Hong Kong is a small island - your clients will mostly be in China and a good dose of "socialising" with your colleagues and clients after work. Face time is also more common in Asia for cultural reasons, so working hours a week is commonplace, but it gets somewhat better as an associate. The food is great, the city is lively and exciting, China is just a subway ride away and it is a fantastic place for young singles to have fun.
There is a strong financial community and plenty of Western and Chinese-style entertainment which can rival the offerings in London and New York. If you like the green, quiet and open spaces of London, Hong Kong may not be the place for you. The issue is space. Nevertheless, many banks do subsidise housing to some extent. Other than that, food is especially cheap and other expenses commute, entertainment, travel, etc.
Investment Banking compensation in Hong Kong. While salaries and bonuses at the junior level are pretty much in line between the two cities on average, on an after-tax basis, Hong Kong bankers will earn much more due to the very low tax rate. On top of that, because housing is so expensive, many banks do subsidise housing in the form of a housing allowance. For locals and native speakers, after a couple of years, there will be many opportunities to work in mainland China at some point or for mainland Chinese banks, which can prove to be incredibly lucrative.
Based on our experience, of course they do. It is a fact that most bankers' friends are themselves bankers. Your friends will often consist of other junior bankers in other teams i. First, other bankers will be the only ones who can understand your hardworking lifestyle working very long hours, weekend work, emergency calls to the office and the only ones who can share with you "war stories" and rough experiences. If you start to talk about the pitchbook you had to re-print at 5 a.
Since this job can be hard emotionally at times, you will need to share your experiences with people who understand you. Second, they will be the only available ones. The social life of investment bankers consists of weekday dinners at the office, minute coffee chats, weekend dinners that are always organised at the last minute because you can never plan in advance.
If you cancel a dinner at the last minute, your banker friend will understand. If you have to rush back to your desk while having coffee, they will also understand. The harsh reality is that you will only be able to organise events at the last minute. But this is not as bad as it sounds. Making friends with other bankers is part of the experience, and this strong network will help you tremendously in your career going forward.
You will also make some of your best friends during banking training and while on the job, because you will be able to share tough times together, and good times together i. The question is, are your non-banking friends nice enough to accept not seeing you several months in a row? You can have a social life, but it will be well-organised and planned at the last minute. Bankers do have social lives, take holidays, go to museums, go to nice restaurants, etc.
The main difference is that you will not be able to plan ahead very often, and you will not be able to take part in regular activities such as yoga classes, tennis classes, etc.
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Dinners will be planned a few hours beforehand. Trips and holidays will be booked a week in advance at best, if you are lucky except for Christmas and August holidays, which are typically very predictable. Be ready to be very flexible! In general, the higher-profile the bank, the less time you will have for social activities.
Working at a Goldman Sachs or a Morgan Stanley means good experience and very good pay, but very little time to yourself. If you work for a BNP Paribas or a Commerzbank, you will have much more free time and much less weekend work, but you will probably not work on many deals and be paid sometimes substantially below the market rate. Also, some banks have a better reputation than others in terms of work-life balance, and some teams within banks also have different lifestyles. Usually, this is mostly driven by the team size, the deal flow success of the team , and the style of your team head.
Generally, people are more respectful of your personal life, and periods such as Christmas and the month of August are very quiet. Therefore, compared to your Hong Kong or New York-based counterparts, you will be very lucky. They only get two weeks of holidays, and most of them are not able to take all of those days.
In general, they also work much harder for much longer working hours. This is not related to the business itself, it is more related to the local culture. As a junior analyst, you will be slower with more things to learn. Also, because you are the most junior, you will be assigned the most tedious and time-consuming tasks. When you become more senior, you will be much faster, and you will "know the ropes", and will be able to manage your time much better.
As an associate, work become easier generally as you will have analysts to support you with your work, and you will typically start to leave earlier though still not at 7 p. By the time you get to VP, things start to really slow down getting closer to that 7 p. Finally, by the time you make it to Director and Managing Director, going home by 6 or 7 p. The pressure for them is not on completing tasks anymore, it is on generating deals and bringing in new clients. One of the key question students and future bankers ask themselves is "how bad are the hours in investment banking"?
It is quite often difficult to get a real answer to this question. And if you want to ask HR or recruiters at banking events, well And the truth is that is really depends. Here is the unbiased answer from AskIvy. Its difficult to generalise as it depends on various situations further explained below , but in Europe expect a minimum of 70 hours per week during slow times and up to hours per week at busy times. Investment bankers usually start quite late because they finish late , at around 9. A quiet day means going back home at 9pm or 10pm, a more standard day would be finishing at anything between 10pm to midnight, and a busy day can stretch until the following morning.
At peak times, it is not uncommon for analysts to finish past 4pm for several days or weeks in a row. Weekend work is very frequent - this can be a few hours of catchup work on saturday or sunday, or at busy times working the all day on saturday and sunday. But the most important point here is that working hours are totally unpredictable. But you can also get suddenly dragged into multiple important transactions on a friday night and not see the light of the day for months. Also, most of the day is usually relatively quiet between 10am to pm , but it often gets busy in the evening.
No surprise there, because big banks will have more deal flow, and that means more work. But it's also a culture thing - people in the US work much more than in Europe, so banks with a strong US culture will make you work much more. It is related to the working style of the team head some bankers can be more easy going, especially UK and some European bankers , and also of the deal flow of the specific team.
If the team is very successful, that will mean very long hours but if you end up in a team that only closes one or two deals per year, you'll have a more relaxed lifestyle. That is simply because clients are not active, which means less meetings. It does get a bit better with time. When you are a fresh graduate, you will spend a lot of time learning the ropes, so you will stay late. Also, you won't have anybody below you except interns to share the workload. Most importantly, fresh recruits are not familiar with the politics in the office i.
Unfortunately, it does get better but not that much - you will still work long hours throughout your analysts years. When you become an associate, the workload is slightly less, but you have a higher responsability so what you loose in working hours you gain in stress!! The best example is building financial models. It is not possible to have many people working on an excel model at the same time. So when you are working on urgent deals, you need to work throughout the night to finish the model as fast as possible, and only when you are done can somebody review and check it.
Simply put - most of the investment banking tasks just can't be split. Because bankers are expensive, you simply cannot have an army of bankers on standby "in case" to meet peak time requests. Overall, it is cheaper to stretch resources and pay them a lot of compensate for the "stretching" rather than hiring more bankers that would be idle most of the time. London and New York have long been and still remain the financial capital cities of the world.
For Americans and many from Asia Pacific too, London is also attractive given the more comfortable lifestyle it offers, and opportunities to work on deals across multiple European countries. Investment Banking in London. New Yorkers often imagine their city at the centre of the world. Look at a map. America is on the left, Asia on the right, and in the middle is Europe. More precisely, London is in the centre. London has always depended on trade and immigration, which have been the key drivers of the city's status as a financial centre. Even as far back as in the nineteenth century, the City has always been dominated by foreigners in the business of banking and trade.