Forum Home > GMAT > Quantitative > Problem Solving (PS)
Events & Promotions
|
|
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Dec 1408:00 AM PST
-11:30 AM PST
Join us for an exclusive Admit Weekend designed to help you navigate the exciting yet challenging process of choosing between multiple MBA offers and provide valuable guidance on financial aid, scholarship negotiation, visa processes, and more.
Dec 1308:30 AM EST
-09:15 AM EST
Get the inside scoop on what makes Emory’s Goizueta Business School great, learn how you can present a strong MBA application, and connect with an Admissions Director to get your questions answered.
Dec 1511:00 AM EST
-11:30 AM EST
Meet Tuck at an informal student or staff-hosted coffee chat in a city near you!- Dec 16
08:00 AM PST
-11:59 PM PST
GMAT Club 12 Days of Christmas is a 4th Annual GMAT Club Winter Competition based on solving questions. This is the Winter GMAT competition on GMAT Club with an amazing opportunity to win over $40,000 worth of prizes! - Dec 18
10:00 AM PST
-11:00 AM PST
Here is the essential guide to securing scholarships as an MBA student! In this video, we explore the various types of scholarships available, including need-based and merit-based options. 
Dec 2007:00 PM PST
-08:00 PM PST
Inquire for a free profile evaluation and guarantee statement for possible admits and scholarships!
Dec 2111:00 AM EST
-12:00 PM EST
Save 20% on your subscription to onTrack by mbaMission, a first-of-its-kind on-demand MBA application experience. Use code 20OFFDEC until Dec 31!
Dec 2109:00 PM IST
-10:00 PM IST
Dreaming of a successful post-MBA career? Explore the 2026 career pathways in consulting, tech, finance, and dive into the exciting opportunities and the potential ROI these industries offer, helping you make informed decisions and more.
01 Aug 2008, 19:06
Kudos
Bookmarks
Well, I have always thought that people outside of NY work somewhat less than those in NY. I believe that there is a fundamental difference in views on work and life in general in NY.
That said, I would say that at the associate level, relatively few people work 100 hours week in and week out, or even 90 or 80. Certainly, everyone has had to put in those hours from time to time, but very few people do it on a consistent and continual basis. For example, I detailed in a post last week that my office-mate worked back-to-back all-nighters. This week, however, he left before 6PM 3 times and took the day off today (Friday). If you think about it, if you start at 9-9:30AM and work until 10PM each day, with a short break for lunch and dinner, that puts you at about 60 hours. If you do some work on the weekends you might be around 70 hours. People don't necessarily work every single weekend (like I said, I had the last two off). So that's about 60-70 hours, and would be a pretty normal week. Certainly, there are other times when you're working from 9AM-2AM day after day, with no breaks for lunch or dinner, and all weekend long, but it's definitely not all the time.
Now, I'm talking about associates here - for analysts I think you can legitimately tack on another 2 hours per day, and at least one day every weekend. That would be more in the range of 80-90 hours in a normal week, with hell weeks occuring more frequently as well. One perk to being an associate is that at the end of the night, you can often hand stuff off to an analyst, and review in the morning or something. Analysts don't have anyone to hand stuff off to.
I know a lot of folks in banking, and have actually had a few chuckles regarding the work load that some people report. I would say that there are several factors that contribute to the confusion. I can definitely tell stories of weeks where I literally worked 110 hours, and have heard of people who have literally spent less than 20 hours away from the office in an entire week, but that shouldn't be confused with a typical work load. Also, people rarely distinguish between reports about associate and analyst work loads, and there really is a difference between the two. Of course, work loads can vary substantially depending on your practice group and who you are working for. Are there people out there who work 90+ hours every week at the associate level? For sure there are. But I think those are outside the middle 80% as we like to talk about things here at GMATclub. Middle 80% is probably 60-70 or 60-80 hours per week.
That said, I would say that at the associate level, relatively few people work 100 hours week in and week out, or even 90 or 80. Certainly, everyone has had to put in those hours from time to time, but very few people do it on a consistent and continual basis. For example, I detailed in a post last week that my office-mate worked back-to-back all-nighters. This week, however, he left before 6PM 3 times and took the day off today (Friday). If you think about it, if you start at 9-9:30AM and work until 10PM each day, with a short break for lunch and dinner, that puts you at about 60 hours. If you do some work on the weekends you might be around 70 hours. People don't necessarily work every single weekend (like I said, I had the last two off). So that's about 60-70 hours, and would be a pretty normal week. Certainly, there are other times when you're working from 9AM-2AM day after day, with no breaks for lunch or dinner, and all weekend long, but it's definitely not all the time.
Now, I'm talking about associates here - for analysts I think you can legitimately tack on another 2 hours per day, and at least one day every weekend. That would be more in the range of 80-90 hours in a normal week, with hell weeks occuring more frequently as well. One perk to being an associate is that at the end of the night, you can often hand stuff off to an analyst, and review in the morning or something. Analysts don't have anyone to hand stuff off to.
I know a lot of folks in banking, and have actually had a few chuckles regarding the work load that some people report. I would say that there are several factors that contribute to the confusion. I can definitely tell stories of weeks where I literally worked 110 hours, and have heard of people who have literally spent less than 20 hours away from the office in an entire week, but that shouldn't be confused with a typical work load. Also, people rarely distinguish between reports about associate and analyst work loads, and there really is a difference between the two. Of course, work loads can vary substantially depending on your practice group and who you are working for. Are there people out there who work 90+ hours every week at the associate level? For sure there are. But I think those are outside the middle 80% as we like to talk about things here at GMATclub. Middle 80% is probably 60-70 or 60-80 hours per week.
02 Aug 2008, 13:32
Kudos
Bookmarks
Thanks for the info. You're right about people not distinguishing between analyst and associate - my 80-100 hours number actually comes from my analyst recruiting days. It's good to know that associates work less than analysts. 60-70 is MUCH better than 80-90. So, you see the full-time associates at the office leaving by 10 and not always there on the weekend right (not just the interns)? Just wanted to make sure the banks don't try to make the interns think it won't be too bad so that they'll accept their full time offers then they show up full time and see the real deal. Have you read monkey business?
03 Aug 2008, 11:42
Kudos
Bookmarks
Yeah, associates can definitely have a little bit more time to themselves than analysts. Associates can leave an hour or two earlier on average, work fewer weekends and have fewer super late nights. Unless they are working on something specific, associates here always leave before 10. We are a small enough office that you hear about what most everyone else is working on. I'm positive they are not trying to BS us for the summer, based on contacts with people at the associate level as well as more senior people. Trust me, I found out the real deal the first three weeks I was on the job. Things slowed down because a couple of deals died or were postponed, but nobody is trying to fool us here, I'm absolutely certain.
I have read Monkey Business, though I don't remember many specifics about the book. All the books about trading and banking tend to run together. My general thought is that the book is funny, and is an interesting way to talk about banking, but its more bits and pieces of the truth, rather than the real thing. I think maybe it's like the movie Goodfellas - definitely lots of true elements and real events based on real people, but do you really believe that it accurately portrayed the day-to-day lives of people in the mob?
It's a little hazy, but I recall the road-show story from Monkey Business. I could imagine an associate going through something like that, but it would be a once-in-a-career type of thing for perhaps one person in a department. As in, "I once heard of a guy...". The compensation part was probably pretty accurate - especially for that time period. Banks used to have a reputation of being really secretive about pay, and how much they compensated various performance levels. The thing is, I don't think that's possible any more now that all the big banks are public (most of them made the transition in the mid 90s). Also, most banks are trying to publicize bigger differences between top performers and low performers. Regarding peeing in a bottle at the Christmas Party, that reminds me more of fraternity life in college than working at a bank. I recall a road trip where the bathroom in the Winnebago broke, and quite a few bottles were filled until we made it to a stop. That was fraternity, not banking. I don't really remember anything other specifics from the book, however I'd say that many of the stories are (more accurately were) actually true, but you always have to ask, was this a one time deal, or was it a daily occurance? I mean, it shouldn't be a surprise that young bankers are looking to score with young banking assistants (we don't have any of those around here, all the assistants have been with the firm for 20+ years), but I'll bet that's just as true with young consultants and young CPAs and I know it's true with young lawyers. Do bankers like to hang out a strip clubs? Probably not any more than people of the same age with comparable incomes.
I have read Monkey Business, though I don't remember many specifics about the book. All the books about trading and banking tend to run together. My general thought is that the book is funny, and is an interesting way to talk about banking, but its more bits and pieces of the truth, rather than the real thing. I think maybe it's like the movie Goodfellas - definitely lots of true elements and real events based on real people, but do you really believe that it accurately portrayed the day-to-day lives of people in the mob?
It's a little hazy, but I recall the road-show story from Monkey Business. I could imagine an associate going through something like that, but it would be a once-in-a-career type of thing for perhaps one person in a department. As in, "I once heard of a guy...". The compensation part was probably pretty accurate - especially for that time period. Banks used to have a reputation of being really secretive about pay, and how much they compensated various performance levels. The thing is, I don't think that's possible any more now that all the big banks are public (most of them made the transition in the mid 90s). Also, most banks are trying to publicize bigger differences between top performers and low performers. Regarding peeing in a bottle at the Christmas Party, that reminds me more of fraternity life in college than working at a bank. I recall a road trip where the bathroom in the Winnebago broke, and quite a few bottles were filled until we made it to a stop. That was fraternity, not banking. I don't really remember anything other specifics from the book, however I'd say that many of the stories are (more accurately were) actually true, but you always have to ask, was this a one time deal, or was it a daily occurance? I mean, it shouldn't be a surprise that young bankers are looking to score with young banking assistants (we don't have any of those around here, all the assistants have been with the firm for 20+ years), but I'll bet that's just as true with young consultants and young CPAs and I know it's true with young lawyers. Do bankers like to hang out a strip clubs? Probably not any more than people of the same age with comparable incomes.
