What do IB analysts do that allows them to get paid so much? Is it really that hard or is it just because of the hours?

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I used to be an IB analyst. Our boss was a kind man, sort of like a gentle grandfather to us kids. We were allowed one date night a week, provided we were back in the office by 1am. I’m not even mad, one of those dates was with my wife, and the rest is history. Strategy at ACN feels like a hobby in comparison to how much we worked in IB.

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BB

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My friend who did it got a gym membership across street from his work so he could shower there instead of going home to do so. Basically lived at the office.

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I also had a friend do something similar
His parents lived around an hour from the office so instead he just tended to get a hotel 1-2 nights a week and went home to his parents for the weekend
Was still cheaper than getting an apartment in NYC

I have 7 friends in IB in New York - everything from JPM GS to Evercore and lesser know firms like Stiefel. They are all miserable & desperate to leave. Sure, they made $140k all in out of college, but I regularly go 2 months without seeing them. There’s a massive difference between 70-80 hours and 100+. And the demands by MDs are ruthless. Even my friend at Harris Williams in Richmond gets demolished by the WLB. And, believe it or not, most of them going to PE are taking pay cuts. Those 300k+ offers at a mega fund are simply not the form of that industry, though seemingly everyone wants to equate all of “PE” with KKR & BX.

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They are all analysts

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