I’m going to be starting my MBA in the fall and want to recruit for IB. Can anybody who’s an IB associate tell what a typical 14 hour day is like? From what I’ve been told, although its long hours a fair chunk is waiting for comments… is it 14-15 hour days non stop work or is there some down time in that as well?

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Waiting for comments is usually if you're preparing for a pitch or writing the CIM. If you're in the middle of diligence a lot of what you're doing is answering buyer questions, preparing additional analyses, coordinating responses from your client, etc.

A lot of what the associate is doing is delegating analytical work to the analyst and managing the process. During a live deal I find there's relatively limited downtime, especially if you've just gone to market.

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