Do Investment Banks Under-Hire?
In short, there is a common perception that investment bankers work extremely long hours, often around 16 hours a day. This leads to the question: do investment banks deliberately under-hire analysts or associates for some reason?
This question can also be applied to other industries within financial services where working long hours is expected, such as the Big 4 or management consulting.
I have heard discussions about “gatekeeping” in the finance industry, but I am unsure about the validity of this claim.
What are your thoughts or insights on this topic?
One response
Do investment banks under-hire?
When it comes to investment banking, it is true that employees often work long hours, sometimes up to 16 hours a day. This has led to speculation about whether investment banks intentionally under-hire analysts or associates to cope with the demanding work schedule.
This question can also be applied to other industries within financial services, such as the Big 4 Accounting firms and management consulting.
There is some discussion about a potential “gatekeeping” issue within the finance industry, where firms may intentionally hire fewer employees to create competition and pressure employees to work longer hours. However, the extent to which this is true is subject to debate and may vary depending on the specific company and industry.
Overall, it is important to consider the work culture and expectations of a particular industry before deciding to pursue a career in that field. While long hours may be common in certain sectors of finance, it is crucial to prioritize work-life balance and ensure that job expectations align with personal values and goals.