Why is Investment Banking Culture so Bad?

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Investment banking is notoriously a very intense industry to work in. In this video, I articulate some of the structural reasons why this might be the case. We discuss how a deal-based business model leads to tight deadlines, how the workflow often leads to weekend work, and how high attrition disincentivizes seniors from investing in their employees.
0:00 - The Deal-Making Business Model
2:29 - High Attrition Makes Managers Care Less
3:51 - Investment Banking is Very Hierarchical
4:57 - Intergroup Politics
Peak Frameworks is a business career prep service started by Matt Ting and Patrick Fong, who have each spent several years working in investment banking and private equity in New York and Silicon Valley. Matt and Patrick met at Evercore, a top tier investment bank, and over the years have tutored and coached dozens of candidates to land their dream business job.
Matt Ting: / matthewting
Patrick Fong (HBS 2021): / patrick-fong-0b773041
#InvestmentBanking #Careers #PeakFrameworks

Опубликовано:

2 июл 2024

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Комментарии : 32

@DSLcokerDS Год назад

Great insights! Thank you!

@brookephrem141 Год назад

Great video! Just curious…. How many hours did you work at Evercore and what was the work life balance like? Thanks!

@tsundoku97 Год назад

How is the IB culture and lifestyle for women ? I’d love to hear about it

@evanwidner9894 Год назад

Mom get the camera he posted again!

@armitageshanks2499 Год назад

Could you give an example of the disparity of knowledge? Very interesting point that I've nvr heard of b4

@TLiu-1b Год назад

Think of it as asymmetrical information, MDs were once analysts so they know exactly what each level does. I think bc each level of the hierarchy is doing repetitive work, juniors aren't ever gonna entirely grasp what a VP or MD does on a daily basis.

@PeakFrameworks Год назад

Analysts don't know how to check their work or manage process. Associates don't know how to run deals well or understand all the financial structuring. VPs don't know how to win clients. All the roles are kinda additive and you don't really pick up those skills until you're in that role.

@arturdantas9086 Год назад

shout out from brazil!

@nelly2780 Год назад

Does your guide include fit questions as well?

@PeakFrameworks Год назад

Yes, tons of stuff on fit and networking!

@wannabedal-adx458 Год назад

This is a great video, but sadly continues to dissuade me from going into IB. Yes the money is great but at what cost! The same setup to your points are handled better in Management Consulting. Even if junior people are asked to leave (aka managed out), the big firms (MBB) at least help you in your transition because they want to protect the image of the firm and get people to WANT to go to work at those companies. I think it does boil down to money; the pay is less at MC vs. IB, but so are the hours and stress! Thanks Matt for you insight and honesty!

@ZDY66666 Год назад

Fully disagree. I went both routes and currently I'm at an MBB, the culture isn't better in certain practices. Especially the sweaty ones that require 80 work hours such as the private equity serving groups/practice of MCs. You are treated more as a human by bit more (but not enough for most people I'd imagine) at an MC but it can very well still be toxic and you're managing optics every god damn day or even hour to play the poltics just the same (if not more actually, consultants make it much more of a workflow than bankers) The part of MBB I'm at (PE serving), it's the same god damn exhaustion, poltiics, and toxicity, and many times even same hours. IB is just more CONSISTENT AT giving you that toxicity. MCs have pockets of bad vs good vs better. Some practices are so good you won't feel it at all or only half the time. But many other practices (like mine) it's just the same bull crap for a pay cut so don't come.

@williammineau3097 Год назад

Would you say that banks in Chicago have better culture and hours than NYC and other major US cities?

@DominatingNA Год назад

Yes - marginally, but yes

@YasinNabi Год назад

"There are no secrets to success. It is the result of preparation, hard work, and learning from failure." -- Colin Powell,,,,,,

@REDBEAST100 Год назад

This sounds just like Big Law

@rbd5868 Год назад

Cause money lol

@kvin9210 Год назад

Yep

@creatorbhakth Год назад

Don't say me that you are not a anime character........ You are not a human looking complex

@pietromicelli11 10 месяцев назад

@yashaskashyap1542 Год назад

This guys face looks like a video game

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