Quote:
Originally posted by DeltAlum
Where would you say is the point where those long weeks back off some?
80 hours is not nearly as big a deal when you're 22 as when you're 45 and maybe trying to raise a family.
I suspect that 50-60 hours a week is not uncommon for anyone who is successful in pretty much any industry.
Later in life, though, I think that becomes a health issue for some people.
Thoughts?
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There is no such thing as a free lunch ya know? This work isn't for people who want to just get by or be comfortable or have a nice nest egg. I never say I'm rich because I'm not, but it's good to know that I am making so much right out of college, earning every damn cent of it, and knowing everything I bought has been bought with my money...not with my parents' because most Americans still consider themselves dependent on their parents until 25 I think (somewhere around there is the official number).
So when you come straight out of school, they work you. This is pretty much only in banking though. They don't do this in consulting or trading. Consulting involves never having a home and always travelling and trading involves burning a hole in your stomach...never long hours. 80 hours out of school is about average. Your second year as an analyst that drops to 60-70. There are going to be busy times by the way. If M&A takes off and you're amazing at what you do in an industry (say transportation), they will bring you in (more than likely you will WANT to come in) and work on the deals until they clear. After 2 years you usually go get your MBA. An MBA is not some intensive course of study. I think more than anything, it's to rejuvenate you before going back as an associate to the bank if you still want to stay in banking. Banking teaches you how everything works so a lot of times the guy who knows the in's and out's of transport will be recruited to run a specific program at say GM. As an associate, I'd say 60 hours sounds about right and then the number should drop as you go higher. A lot of managing directors leave early on Fridays to take their helicopters to the Hamptons. That is a luxury that all analysts can only dream about.
Here's the funny thing though. Your body requires less sleep as you grow older so it's sorta like a cruel joke that you can work later (if you don't have a family) but now have the option not to. There are those that totally give their lives to this. I think Blackstone is like that. So many people would kill to join this firm it's ridiculous. They work 120 hours A LOT even when they're 45.
-Rudey