> Lots and lots of people, particularly Americans, will use Adderall, Ritalin and Modafinil.
I don't understand. Are we supposed to feel sorry for them?
Pushed to the limit as a banking intern
11–20 of 225 posts
Re: Pushed to the limit as a banking intern
#12What does a banker even do during those long hours? I'm genuinely curious.
Snooze on the toilet apparently.
Re: Pushed to the limit as a banking intern
#13Earlier quoted context omitted.
Because banking makes a hell of a lot more money.
The intern was set to make £45,000 / pa (not including bonuses) as an Analyst, but I suppose it opens doors.
For an entry level position that's probably 1.5-2.5x what a software dev could expect to make in the UK. In my experience at least.
Re: Pushed to the limit as a banking intern
#14People like to dramatize this a bit, I think.
First, I'll quibble with the definition of all-nighter: "I ended up doing an all-nighter in my first week as an intern, which is when you start work at nine, you stay until five or six the next morning, you go home, have a quick shower and then head back into the office and continue working."
If you leave work at 5 and start at 9, and are sensible and live within 20 minutes of work (which you can on a banker's salary, at least in NYC), that's like 3 whole hours of sleep.
Second, how many times did you pull a few all-nighters in a row during college? I can't even count. I certainly didn't die.
Third, he's leaving out the part where a deal dies and you find yourself with nothing to do for days. You may not experience that as an intern, but once you're actually working the 100-hour weeks will be interspersed with very dead weeks.
Re: Pushed to the limit as a banking intern
#15This is stupid behavior from the banking people. Don't they realize that they are less productive working all-nighters?
Interns don't need to be efficient (they're cheap and disposable), and they don't do very intellectually taxing work, in general. Think making powerpoints, not designing investment strategies or coding. There's little incentive for the more senior bankers to treat their interns properly.
Re: Pushed to the limit as a banking intern
#16Earlier quoted context omitted.
Because banking makes a hell of a lot more money.
The intern was set to make £45,000 / pa (not including bonuses) as an Analyst, but I suppose it opens doors.
In that industry bonuses will increase your salary by double or more... Junior analysts in a big bank/hedge fund can expect to make as much (or slightly more) than a senior programmer in Silicon Valley.
Re: Pushed to the limit as a banking intern
#17Isn't this all just a matter of supply and demand? There are a lot more young people willing to work in this industry than there are positions, so those people who actually get the jobs have to put up with all kinds of stupid shit. I've never understood why these employees (who are clearly quite intelligent) don't just pursue another career where they have more leverage. After all, I don't think they have any particu…
It is rather a matter of missing regulations.
Re: Pushed to the limit as a banking intern
#18This is all really, really wrong. I wonder how we, as a society, have managed to lower our values this much. Working days and nights and for what? Even if you do become rich, then what? You can't have your health back and you wasted years of your life chasing a dream. When you're on the patio of your beach house with your high blood pressure, anxiety and depression, what have you accomplished? Is reality like the dre…
Was it intentional or unintentional that your comment also describes the life of entrepreneurs/startup founders?
Re: Pushed to the limit as a banking intern
#19What does a banker even do during those long hours? I'm genuinely curious.
Drugs. Sneak sleep. Throw Blackberries. Write canned reports. More drugs...
Re: Pushed to the limit as a banking intern
#20People like to dramatize this a bit, I think. First, I'll quibble with the definition of all-nighter: "I ended up doing an all-nighter in my first week as an intern, which is when you start work at nine, you stay until five or six the next morning, you go home, have a quick shower and then head back into the office and continue working." If you leave work at 5 and start at 9, and are sensible and live within 20 minut…
>3 whole hours of sleep
>100-hour weeks will be interspersed with very dead weeks
That still sounds pretty dramatic man. Would you want your doctor on that schedule? Your bus/cab driver?