The American investment banking industry has come a long way since its emergence during the Civil War era. In essence, investment bankers are corporate financial advisors interested in assisting their clients with raising money in capital markets, involving themselves heavily in mergers and acquisitions activity, and they also offer different types of financial advisory services. Investment banks are very useful for companies looking to expand or to fund major projects, for example, if company X decided they wanted raise capital by releasing an Initial Public Offering (IPO), they would seek out investment bankers in order to price their new stock price precisely in order to make it as attractive to public investors as possible. The more
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Despite the glitz being an IB carries, being an investment banker is one of the hardest and most strenuous jobs in the field of business. As if it was not hard enough to get into the industry, it is even harder to remain an active member of it. A “9-5” work week is practically non-existent; new analysts can expect to work 100 work weeks with fear of not completing everything to the most elite standard. New bankers who strive for a “work-life” balance are not driven by making money, or have a relaxed approach to life should not enter the industry. Investment Banking is an overwhelmingly elite task that takes complete life devotion in order to do properly. It is one of the most well paid jobs; however, there are many negative social and physical effects that IB (Investment Banking) carries with it. This can be solved through new company policies and a less relentless approach by …show more content…
Former analyst, claim to work up upwards of 100 hours a week, and even working three days in a row without sleeping. IBankingFAQ, a source where people who are actively seeking out investment banking jobs turn for answers, stated “At bulge bracket banks and top boutiques, Analysts can routinely expect to work 90-100 hours per week or even more. A typical work day during the week might be 10:00 am until 2:00 am.” (IBankingFAQ). Overly excessively long hours such as these are simply not healthy or efficient to the bankers individually or to a firm 's productivity/output. If workers are sleep deprived the next day because of their employers pressing them to complete all the tasks assigned to them with little concern shown towards their physical well being then there is no way employees can come into work ready to work at an elite standard. Instead, those who suffer from sleep deprivation will most likely doze off throughout the day and not be efficient. This can be clearly seen in the non-fictional book Monkey Business by John Rolfe and Peter Troob (Harvard and Wharton school of business graduates), a book about two men and their true personal experiences at a former major investment banking firm, LTJ, when they discuss a situation concerning an intern who falls asleep at a table in front of an upper level employer: the text
Despite the glitz being an IB carries, being an investment banker is one of the hardest and most strenuous jobs in the field of business. As if it was not hard enough to get into the industry, it is even harder to remain an active member of it. A “9-5” work week is practically non-existent; new analysts can expect to work 100 work weeks with fear of not completing everything to the most elite standard. New bankers who strive for a “work-life” balance are not driven by making money, or have a relaxed approach to life should not enter the industry. Investment Banking is an overwhelmingly elite task that takes complete life devotion in order to do properly. It is one of the most well paid jobs; however, there are many negative social and physical effects that IB (Investment Banking) carries with it. This can be solved through new company policies and a less relentless approach by …show more content…
Former analyst, claim to work up upwards of 100 hours a week, and even working three days in a row without sleeping. IBankingFAQ, a source where people who are actively seeking out investment banking jobs turn for answers, stated “At bulge bracket banks and top boutiques, Analysts can routinely expect to work 90-100 hours per week or even more. A typical work day during the week might be 10:00 am until 2:00 am.” (IBankingFAQ). Overly excessively long hours such as these are simply not healthy or efficient to the bankers individually or to a firm 's productivity/output. If workers are sleep deprived the next day because of their employers pressing them to complete all the tasks assigned to them with little concern shown towards their physical well being then there is no way employees can come into work ready to work at an elite standard. Instead, those who suffer from sleep deprivation will most likely doze off throughout the day and not be efficient. This can be clearly seen in the non-fictional book Monkey Business by John Rolfe and Peter Troob (Harvard and Wharton school of business graduates), a book about two men and their true personal experiences at a former major investment banking firm, LTJ, when they discuss a situation concerning an intern who falls asleep at a table in front of an upper level employer: the text