Watch 4:20 for a funny story lol 🖥Wall Street Prep🖥 ► Use code RARELIQUID for 20% OFF on any course! ► gv142.isrefer.com/go/rliquid/rareliquid/ 🚀Career Resources🚀 ► My AI Newsletter - rarecandyai.com/ ► The Resume That Got Me Into JPM - rareliquidcareers.com/ ► Download Financial Models - rareliquidcareers.com/models ► How to get into investment banking - forms.gle/wt4cZrezbxVgNzGUA
The reality is that the client dictates all of this. If they push up deadlines or send you a request at some random hour, you will still have to respond to them. All banks offer essentially the same service, this is one of the few areas where they can differentiate themselves
yes def the client can play a huge factor but there is some nuance behind this: (1) first, some clients are just way more demanding than others (2) second, some have their sh*t together and others don't and those who don't cause massive headaches (e.g. crappy internal financial models you have to comb through) (3) third, all top banks offer extremely quick processes so it's not actually a differentiator amongst clients (4) fourth, even with a tough client, a great senior banker knows how to make requests more reasonable or push back gently to create additional time for the team - the best bankers i worked with were able to manage up (to the client) and down (to their team)
Upcoming ChatGPT release seem to be doing 1-week of financial analysis work in a few minutes by testing over 70 different models. Will the analysts be still indispensable for the banking industry?
i think it'll be hard for analysts to be replaced for a while even with AI. for ex, 40ish years ago you had to go to the public library to photocopy financial statements but now everything can be pulled in a matter of seconds. analysts are still working crazy hours. even if AI allows you to be a lot more efficient, it just means higher volume and everything needs to be double checked
I wanted to watch this video when I see the thumbnail there are two reasons.First,It is about IB I really like this sector and the main reason is Here is Jamie Dimon on the thumbnail.He is my favorite person.
There is no reason to work that many hours. I want a well rested Banker. Those hours are sociopathic. The human body is designed to be a farmer and game hunter. The human body will break down after those long hours.
no humane reason to but it happens and this video is just explaining why it does. also it's not isolated to banking. law and medicine have very similar cultures
Wait, what actually happens if you're out at a club, you're polluted and you get a call but youre expected to speak or present something? Do you just not take the call, or be up front and tell them you made friends with everyone in the smoking area and you'd rather stay there?
the vast majority of the time, you can start to see things coming and so wouldn't put yourself in that situation. for ex if it's late at night and i'm going out, i would get all my work done beforehand and ask my associate if i can sign off for the night. for ex i would work until 10pm-2am on fri or sat and afterwards i would expect to do any work the following day. getting called in during the day time on a weekend when you don't expect it is a little bit more on the rare side since after some time you can see it coming. i just didn't for the one story i mentioned in the video haha
Watch 4:20 for a funny story lol
🖥Wall Street Prep🖥
► Use code RARELIQUID for 20% OFF on any course!
► gv142.isrefer.com/go/rliquid/rareliquid/
🚀Career Resources🚀
► My AI Newsletter - rarecandyai.com/
► The Resume That Got Me Into JPM - rareliquidcareers.com/
► Download Financial Models - rareliquidcareers.com/models
► How to get into investment banking - forms.gle/wt4cZrezbxVgNzGUA
The reality is that the client dictates all of this. If they push up deadlines or send you a request at some random hour, you will still have to respond to them. All banks offer essentially the same service, this is one of the few areas where they can differentiate themselves
yes def the client can play a huge factor but there is some nuance behind this: (1) first, some clients are just way more demanding than others (2) second, some have their sh*t together and others don't and those who don't cause massive headaches (e.g. crappy internal financial models you have to comb through) (3) third, all top banks offer extremely quick processes so it's not actually a differentiator amongst clients (4) fourth, even with a tough client, a great senior banker knows how to make requests more reasonable or push back gently to create additional time for the team - the best bankers i worked with were able to manage up (to the client) and down (to their team)
Me when I'm in a ruining everyone's weekend competition and my opponent is a MD
lolol
The guy has got the starter kit sorted out
Shoulda showed up to the call as Santa
loooll
Upcoming ChatGPT release seem to be doing 1-week of financial analysis work in a few minutes by testing over 70 different models. Will the analysts be still indispensable for the banking industry?
ChatGPT often spews out garbage. Who is going to sense check it?
i think it'll be hard for analysts to be replaced for a while even with AI. for ex, 40ish years ago you had to go to the public library to photocopy financial statements but now everything can be pulled in a matter of seconds. analysts are still working crazy hours. even if AI allows you to be a lot more efficient, it just means higher volume and everything needs to be double checked
I wanted to watch this video when I see the thumbnail there are two reasons.First,It is about IB I really like this sector and the main reason is Here is Jamie Dimon on the thumbnail.He is my favorite person.
the santa con story...gold
There is no reason to work that many hours. I want a well rested Banker. Those hours are sociopathic. The human body is designed to be a farmer and game hunter. The human body will break down after those long hours.
It’s because there are 2-3 people on the same project that has a deadline and it’s hard to hire more for the Samer project
@@RR-et6zp Nothing is that important. Sanity and health are the most important things on earth.
@@PrettyGoodLookin exactly.
That's why the sterotypical MD is fat and bald
no humane reason to but it happens and this video is just explaining why it does. also it's not isolated to banking. law and medicine have very similar cultures
Great video !!
How do you guys date with such long hours then ? Looks like you need to quit your job to find or go on dates
Casual hook ups, hookers, incels.
Wait, what actually happens if you're out at a club, you're polluted and you get a call but youre expected to speak or present something? Do you just not take the call, or be up front and tell them you made friends with everyone in the smoking area and you'd rather stay there?
buddy thinks hes irreplaceable
the vast majority of the time, you can start to see things coming and so wouldn't put yourself in that situation. for ex if it's late at night and i'm going out, i would get all my work done beforehand and ask my associate if i can sign off for the night. for ex i would work until 10pm-2am on fri or sat and afterwards i would expect to do any work the following day. getting called in during the day time on a weekend when you don't expect it is a little bit more on the rare side since after some time you can see it coming. i just didn't for the one story i mentioned in the video haha
and all that without producing anything besides hot air
Seems to be pretty similar to how my dad describes working at his old law firm
Banking is so cut throat, need to know a lot of people for deals rather than knowledge at a later stage.
Could you please make a video of your apartment tour at New York?
Some bankers don’t and have quit investment banking just like you
most actually lol but the video is more about why do they tolerate the hours at all
Why didn't they get sue for that deadly 100 hrs victim is beyond me
Small brain it's wrong video for you 😂 kid watch cartoon it's adult matter
Awesome vid!
Bro he literally dropped it less than 5 mins ago
lolol
Blame the clients that dictate the ridiculous timelines
I don't think 9am-5pm is "long hours". You can complain when you work 13 hour shifts in a hot production facility.
you clearly didn't watch the video jackass
the question is not why, but how
arent banks basically always on a live deal tho?
Great video, thanks for sharing! All insights help whilst prepping for interviews.
no prob!
Because of adderall... or cocaine. But it's a lot a lot a lot of adderall and some tranquilizer after.
Do you think the MBA rigor would help you manage the time as associate?
From my experience an MBA is not very rigorous. So probably not.
Do you get to have vacaitions?
yup but always had to take laptop with me just in case and worked on many "days off"
Not a fan of JD