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We like our booze...
And complaining about our industry...
And drugs...
The booze and drugs is much bigger in investment banking. I actually think it's a now romanticized generalization about advertising that's way past its glory days. People always drank and did some sort of drugs in many industries, but I'm having a hard time thinking of an occasion where anyone I worked with has actually come drunk or high at work or any such incidents. Many have gotten drunk after hours and certainly at agency functions and parties but I think it's more of a legend we want to keep up for bragging rights than an actual total chaos as it might seem to the outside world
Tyrannical behavior is rewarded and everyone is expected to play along.