Why do IBs hire (example) 5 people who work like crazy and get paid £300,00 pa instead of hiring 10 people who do normal hours and get paid £150,000 pa ?

like
Posting as :
works at
You are currently posting as works at

Irrational tradition and culture.

like

Less FO analysts = less stress on systems, less calls in for support, less requests for permissions and software etc

like

God we're circle jerking here... No, what its really about is a lack of structure that encourages insane deadlines without being properly scheduled, i.e. Analyst creates deck, MD reviews/marks, analyst corrects, MD signs off, legal reviews/marks, analyst corrects, legal signs off, compliance reviews etc... Then at 5am you have to run in to fix the calcs because you spent more time worrying about bullet point alignment and having periods or not than on the model itself. more hours spent with thumbs in assholes = more time in the office = less efficiency = exhausted analysts = smart people more prone to mistakes... That's an argument I'm sure you can poke a thousand holes in but the real argument is to think of your class as doubling in size, if you and another analyst were always on top of the same task, you don't duplicate efforts, you review each other's work and submit it right the first time, then streamline the review process for anything (not just a deck) and pay everyone idk say ~65% of current pay, everyone works a 50 hour week, goes home happy and fewer mistakes were made. The real driver is greed and people knowing if they chop heads it's easier to take a bigger slice of the pie...

like

Less desk space and less ops/tech people required for less headcount?

like

@gs2, why less tech people ?

like

More people = lower pay. Lower pay = attracting less talented individuals. Banking is about the money and experience. If you want to make high $/HR in the near term banking is not the right decision. However it does set you up for a very high expected return in the long run if can survive a few years. Second point would be that the job is very analytical and requires detailed attention from many dimensions. Throwing more bodies at the problem does not improve the results.

like

Argument generally for works me. Would you still want the job if you worked 50hr weeks and earned 65% the pay? (Probably 65% of the prestige too 😆)

like

No I mean that's true dude it's why the self manifesting idea that we deserve this has lasted so long and we can't complain as long as we are okay with the hours. The argument is more to look at it from a management perspective, does it really make sense the way it goes now? Don't give me any BS IT argument, that's the cheapest and easiest sht to cover once you paid the fixed costs.

like

Normal hours? If one works from 8pm to 5am, is that also normal cuz you work 45 hrs a week?

like

Nah GS2 that doesn't make sense.

@gs2 so ops then, not tech. I really don't see how more analysts would require more developers. Support etc all comes under ops.

Related Posts

How much of a pay cut should I expect moving from a consulting Manager level compensation (e.g. PL, EM, Manager) to a reasonable exit opportunity? I’ve heard that CPG pays much less, but wanted to know if that’s the case at all levels of exit, etc.

like

Hi! I’m interested in applying for Scrum Master role at Mastercard would anybody over here be able to give me a referral?

like

Hoping I get this new position, should I ask for more pay, will I fit in??

like

If anyone is looking for a new opportunity in federal internal audit or enterprise risk, please feel free to leave a comment. We’re hiring!

like
like

Hey guys , what's the work life balance like in Accenture? I have an offer for senior manage role in procurement technology/consulting team source to pay. And what are the benefits will be like? Is work from home allowed like if I work from Spain or Belgium for a week etc instead of UK.

like

If someone needs referral in cognizant fell free to dm me. Please find the relevant job id from the cognizant careers for the referral.

like

Working as a summer analyst in private wealth management this summer and just got a return offer at GS. Anyone have any experience with salaries, exit ops, etc. pressured between taking the return and looking for something with more optionality.

like

How is BCG as company? I am getting a role of Senior Knowledge Analyst - Financial Institutions (Digital)

What grade is it?

like

I have heard that Goldman Sachs is rescinding offers of temporary contract workers. I have an offer letter from Goldman Sachs Bangalore for a full time permanent role and am already on notice period. There is still 2 months for the joining date. Is there a hiring freeze coming? If yes, will they rescind offers that have already been made? Goldman Sachs

like

What is the average salary for an Account Manager position? The agency is 100% remote and salary isn’t adjusted based on where the employee lives for context. Is mid-70s standard? Was originally told $80K by a recruiter but another recruiter stepped in for them and informed me that was a mistake and at most would be mid-70s but they have to check with the agency.

like

If anyone is looking for an interesting DOD focused role, DM me. TS/SCI and analytic writing skills required.

like

There is huge openings in Accenture for about 5811 positions ranging from every field to every field. Almost of every location and of almost at every position.

People can ping me for job openings I can provide you the detail for that!

Please keep in mind if you have ever been referred in Accenture please don't ping and don't waste your time as well as my time.

Everyone is welcome. Thanks.

Mail me @shabo.4199@gmail.com. I will provide you the file there select job code and I will refer you!

like

I got an offer for AWS Architect in Accenture . My yoe is 12.5, Role offered : Level 7 Manager With 32 fixed 10 variable and 6.4 jb. My current CTC is 29lpa . How is wlb in Accenture ? What about work culture? How is Accenture at level 7? How is the job security? I will be joining in cloud first. How is the variable payout? I will join at Kolkata, is there any chance that they may transfer at other locations in future?

likeuplifting

SAVE THE DATE: “Ask a Recruiter” Happy Hour

WHAT: a new happy hour series to help people get back in the game and stand out in today’s market

WHEN: Wednesday June 17th - 5PMEST

WHO: Top recruiters from brands and agencies giving their sage advice and what you need to know about the people (hiring managers), the (hiring) process and the product (you & your resume / portfolio)

Looking forward to seeing you there!
- your co-hosts Tiara Puglisi, Bayyina Black & Joanna Serna

likehelpful

Hi all

What is CCA analyst which is mentioned in goal setting what role is that is it equal to associate

like

Any openings for program/project management or pmo role. Kindly refer. Very urgently needed. I have 5 years experience in this domain. Thanks.

like

Hey guys

Just got selected for an SME position in PE fund services for Blackstone client..

Whats they pay band for an SME at cognizant

YOE 3yrs
Current pay: 6lpa

How much should I negotiate?? Plz help 🙏🙏

like

Are there any openings in the UK for data privacy consultants or data analysts?

Currently doing work related to privacy regulations for US government clients but looking for work in the UK (preferably in London). Please message me if you know of any leads—I’m open to a variety of consulting opportunities. Thank you!

like

More Posts

Once you get into a MBB, what is the best way to succeed there? I have an offer and I want to make sure that I do well when I start.

like

Hi All,

I have 4.3 years of experience in P2P domain and I got selected in Genpact Uppal branch for Assistant Manager profile and my current profile is Senior Operations Analyst.

So wanted to confirm the hierarchy is totally depends on teams to teams or there is a fixed hierarchy.

The pizza beast of the east has arrived in the Nashua/Manchester area. If you sell hand-tossed pie and have room at the bench for a ringer, lemme know.

likefunny

Just for the heck of it, I would like to take part in "No Pants Sunday subway ride" in Chicago this winter. Has anyone done it? Thoughts?

like

Can someone share what’s their work life balance at big 4 firms? Interested in a product management role but I’m concerned with working 70+ hours a week.

like
like

PwC M3A salary, tier 2 market, non-mba?

like

Hello,
Can someone help me with the level for the role Cloud Solution Architect(IC)? I have the job number.

A naive question but…why is an in-house role “easier” and so sought after? Bedsides no billables of course.

like

Anyone can recommend some awesome street fashion photographers from Argentina?

like

My HR has offered 20 LPA (17.5 FIX + 2.5 VAR)
is he trying to low ball me?

I have 3.5 yoe

like

Anyone joining JPMC on 14th December,2022 in Hyderabad office?

like

I’m an associate doing IP at a small firm, (2.5 years) and long term want to go in-house. Since I love IP, I’ve considered applying to be a trademark examiner, but I have no idea if that move will help or hinder my long term goal. Will I be pigeon-holed? Thoughts?

like

Would it be easy to to switch internally from Salesforce Industries to Core GDC?

like

My Apple Watch just serves to remind me what a lazy POS I am. I know I need to stand more!

like

Any Vynamic fish willing to chat? Looking to discuss fit for a role and hopefully a referral.

like

Any idea on how to connect with recruiters at the giant companies (think Microsoft, Google, Amazon). I turned my LinkedIn to "looking" and have been messaging recruiters with zero results. I am an experienced manager with a decade of experience so am at least qualified for some of their job postings. Any suggestions will be appreciated!

like

Send your CD tons of options or only send him a few favorites?

like

Any best laid plans or life long dreams that got thrown for a loop by a sudden pregnancy? What happened? How did it work out? Do you miss your dream? Was baby worth it now looking back?

likehelpful

Additional Posts in Finance

Thoughts on H.I.G. Capital?Jk, we all know they're the worst

like

For those of you who go to <750 fund size PE firms from the bulge bracket, could I ask why? Lifestyle? Seems to me the pay is lower (and comparable to lower at senior level) / same b school placement

like

Should a real estate development analyst think more about a CFA or an MBA?

like

Payback Clauses!! I received a sign-on bonus and was informed that if I left the company prior to 18 months I would have to pay back X% of my sign-on bonus. I recently accepted a new job and have flexibility as to when I put in my 2 week notice. If my 18 month anniversary date is on December 8th, can I put in my two week notice before this date with the understanding that my last day would fall after this date, or would it be safest to put in my 2 week notice after my 18 month anniversary date?

like

Happy (zoom) Passover for everyone celebrating!

like

Watching Severance…haven't finished it yet. What do you guys think? Psychologically separating your work life from your home life. Smart or insane? Would you do it? Barring the ethical complications lol

What do you tell strangers you do for a living when you don't want to explain what investment banking is?

like

Why is KKR acquiring WebMD?

like

Best travel hacks outside of credit card travel points and frequent flier clubs?

like

I think I'm officially sporting a male muffin top. I guess it's time to finally buy new pants. Damn you banking and your long hours.

like

I’ve finished my bachelors in Finance, have some experience as a junior analyst in a construction company, and i’m currently studying for CFA (tbh the real reason is because all my friends are doing it). I speak five languages. The only thing i want is a high paying job, what are some good career choices? and which masters/requirements are needed to get into it?

like

What does it mean when people respond "following" or some variation of that response on this app?

A family member asked if he could borrow a significant amount of money as a loan. I'm considering it -- think it would require help from a lawyer?

like

Are guys bothered if their SO makes significantly more than them?

like

Just was offered VP Implementations role at Citi in the ICG group, any insight or thoughts of probability for layoffs next year for a role like that? Even general thoughts of working in implementations are appreciated as well.

like

Does anyone need books for FINRA series exams? I have Knopman Marks books for the SIE, 7, 63, and 79.

like

Do y'all still send out thank you emails after an interview?

like

I don't get all the negativity about this field. I can honestly say that I've learned more and grown more than in the past couple of years than I have in my entire life.

like

What did y’all get on Black Friday?

like