A Week in the Life of an Investment Banking Analyst - Live M&A Deal (100 Hour Week)
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- Опубліковано 30 лип 2024
- In this video, I go over a week in the life of an investment banking analyst based on a live M&A deal I worked on at J.P. Morgan.
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⏱Timestamps⏱
0:00 - Introduction
0:58 - Wednesday (Get Staffed on the Deal)
2:58 - Thursday (Build LBO model)
4:52 - Friday (Finish LBO model)
7:40 - Saturday (DCF and comps)
8:54 - Sunday (Complete valuation analyses)
9:55 - Monday (Work on Presentation)
12:10 - Tuesday (Complete Presentation)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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100 hours a week is tough for anyone. Anyone that wants to work in investment banking must be sure that this is the right path for them.
I approached this in audit (if you count studying), which I consider potentially harder due to the raw dullness of the work, the lack of glam, the shit pay, the fact the client hates you, the impossible budgets and the uncertainty of being able to do anything decent after qualifying and moving since auditors are so common.
It was hell and it annihilated my social life, romantic life, sense of self worth and sleep. I kept time in for the gym and family (health and family are 2 things I will never ever budge on). People drifted away from me because I was miserable, unenthusiastic, always needing to leave things early and arrive late and in "work mode" and the constant slight pressure of being behind in all facets of life be it chores, workload, sleep, food shopping etc.
Wouldn't recommend it to anyone, no matter how insanely hard working. If you are a type A, do something where you can flourish and move forward.
Wow thank you so much for sharing! This video, along with others I. Your channel, has really helped me learn about banking and the day-to-day operations.
⏱Timestamps⏱
0:00 - Introduction
0:58 - Wednesday (Get Staffed on the Deal)
2:58 - Thursday (Build LBO model)
4:52 - Friday (Finish LBO model)
7:40 - Saturday (DCF and comps)
8:54 - Sunday (Complete valuation analyses)
9:55 - Monday (Work on Presentation)
12:10 - Tuesday (Complete Presentation)
Fantastic, thank you for sharing!
Thanks for the useful insight on Inv Banking.
Thank you so much for your video this is super helpful :) i am an analyst at a bb bank in a middle office position, but i was wondering if you could make a video discussing how you strengthened your technical skills excel etc. I feel it is quite challenging especially for someone who is from a non-finance background. Thanks!
I was wondering if you could make an in-depth education and hierarchy video like the consultant video but for investment banking analyst
Please do one on asset management please!
A very interesting week and video, it's fascinating know more about day to day in investment banking. Thank you for sharing 😎😎
no problem!
You should make another video like this but with a more chill/average week
Would love to hear your thoughts on ECM!!
I am guessing the reason you work so many hours is because the deadlines are so tight. Why does everything need to be done within 7 days? Can't the client wait? What's the difference if it were to take 2 weeks instead of 1 to give the deliverable?
The big thing in these transactions is the timing in a economic cycle. For a big m&a transaction if the role process going through 5 months for example, probably a lot of money was losed in daily cashflows and probably dcf model was not significant updated anymore. Those things together must impact a lot in business model and doesn’t make more sense for transactions happened if is necessary to review everything and update models again and again
Because it’s a “live” M&A deal - there are non live ones too. The financial side has to be sorted first so that’s why there’s a lot of pressure because it’s a lot of parties all involved on this to go right. Also typically when it’s at this stage the people you’re involved with will be high level and can be extremely demanding. It’s not just some random department head but like the CFO who knows his shit and will drill you down
I work on M&As often on the data/database side and it’s far less pressure unlike finance. Typically all that has already been sorted by the time we even start talking
How do you evrh work 100 hours
hypothetically how would you price the patent of original algorithm that automatic manage your assets for you? like the master code...
Respect 🙇🏻♀️
how much of your work day do you think is waiting for seniors to return your work?
hey ben did u do a chartered accountant course before joining M&A at JPM?
Now talk about that dollars enclosed in a frame in the background lol. Is it a wall art or…?
First of all, thanks for the video; extremely helpful. It sounds like most of the work model is done on-site. Is there any hybrid (remote and on-site) type of work model in investment banking? For instance work from 9 to 5 and then the rest at home?
I think they’re a bit more lenient only when you work your way up to a higher position and don’t need to be mentored as much. Like I think associates are able to go home a bit early every now and then and work from home for a remainder of the night
This goes to show the prominence of a life coach. I believe discipline plays a major role too yunno. Any who, great video by the way.
When you connect to the silence within you, that is when you can make sense of the disturbance going on around you.
I know the powers of coaches too. Coming from someone who's witnessed consecutive ups and downs, debt, getting ripped off trading scams, get rich quick scheme, ponzi. Literal bankruptcy, you name it, Having a coach made it a lot more easier. I know how discipline is essential to grow. Matter of fact having received advice from my coach, I started my pod, a little ytube, and passively earn and hold a $293k ptf with Maria Teresa Tyler. So yes guys, life coaches are indeed important
@@maryalchester whats commission and roi like?
@@maryalchester Do you mind if I asked if she's with Bessemer? Talking bout Maria Teresa Tyler
@@maryalchester How trustworthy are these fin advisors? And how do I get a hold of your coach? Could I like look her up? I mean Maria Teresa Tyler
Hey rareliquid - what have been your thoughts so far with the new YT account? With less traction due to yt algos, do you think it'd be better to break it down on your main channel and call it a rareliquid careers a 'series' instead?
going to just keep building it out i like having channels focused on their specific niches
Can i ask did u quit if yes why?
Where did you go to college?
I think 100 hours is doable and understandable if you come away having learned something, but man, that is me doing my utmost to even try and wrap my head around it and excuse it. If it's helped develop skills and a work ethic that you have take into rl, then that's cool, but that's an unhealthy amount of time to give to anything - even something you like!
I know you know, but don't let it control you. Man, there are some days where you're up doing livestreams at 4am with a Q&A at the end and you're yawning, and I feel guilty for keeping you up so I try not to ask questions. It's like, I didn't subscribe because I want to see you physically and visibly exhausted :-/
i'm on a bit of a nocturnal schedule right now so i get a lot of sleep haha don't worry! was just tired since it was towards the end of the day
Hi totally loved your video❤️I'm currently 17yrs old and interested in Investment banking.. do you advice people to join investment banking? Is it worthy? Do you get time for yourself to enjoy? What are the best companies to work in? Also if not investment banking what would you suggest to a MBA finance graduate? I just hope you reply
Hey man, I was once your age and now I’m about to be 25. At your age I was still deciding between M&A and Sales & Trading. I’m from the uk. Got 3 A*s and A in my A Levels and studied Maths & Econ at UCL (world top 10 uni). Did my 12 week internship at JPM. It’s not what you would expect it to be. It’s all automated. Luckily trading is a career anyone can do from home. That’s the beauty of it. I had been doing it from age of 17. After graduation, I went to a smallish hedge fund who paid me in excess of 100k straight out of university (including bonus). After 1 year left the industry. Threw most of my money into my trading account and have now achieved the kind of wealth I never thought would be realistically achievable. Let alone at this age. So if it’s money you’re after forget working in industry whether it’s M&A or S&T at an IB. You’re worked like a dog for peanuts. Learn how to trade and let money work for you. Max you should do in industry is 1-2 years. Take the money and run. Look after your health. Industry isn’t good for your health mentally or physically. Underpaid and overworked. Hope this piece of real talk helps. Take care kid.
You think it's possible for a foreigner (like me, Belgian) to work for a bank like J.P. Morgan?
depends how old you are and your bakcground but ofc it's possible
Normally, how many deals have you worked simultaneously? And what was your max. amount?
1 intense live deal is usually enough to take up many weeks / months in a row. Max i've worked on 8 projects at once when we were super understaffed but many were not that intense and didn't have immediate deliverables
Quick question : since you’re a salaried employee, is all the hours work encompassed in your base pay? Or you also get OT for the additional hours you work
Banking analysts don't get paid overtime for extra hours they work, but their base pay is usually very high, especially considering that analyst positions which are entry level are generally worked by recent college grads. Additionally, they are usually given large bonuses at the end of the calendar year reflective of the deals they worked on, so in this instance he was probably given a bonus for successfully executing the deal which is sort of like being compensated for the extra hours since you'll only work this much during a live deal sprint. Compensation for these positions is generally about 100-130k at entry level. Hope this helps.
@@SethDon-qg6gt Total comp at banks like JPM is higher than 130k for AN1, think more like 160k-200k. BB banks tend to not pay as much though as the "elite" boutiques, with banks like Centerview paying AN1 up to 250k-330k total comp. Obviously hours are extremely intense but it is one of the highest paid positions a person can get right out of undergrad outside of top quant trading or HF work.
Hi, I have a question. Can a person who has worked for 2 years in auditing for the Big Four join a firm like JP as an M&A analyst?
What app is mostly used for calls? I assume discord probably would be the one that makes the most sense? Idk
Hey , kinda new to the channel but prior to working at JPM did you get an MBA? I was trying to see if you did a video on getting into IB right after undergrad or after your grad studies.
a postgrad like an MSc or MBA is pretty much a prerequisite to get into IB where I am from.
He did not get an mba. He recently quit at JP Morgan and is now starting an MBA at Wharton
So you are required to work on Sundays? No days off? Is that typical to work M-S as an an analyst? Or is that only when there’s big M and A like such
I have work in aerospace engineering for over 40 years. My normal work week was 60 hours (6 am - 5 pm M - Sa). I did earned as much or more than bankers because I earned 1-1/2 for over 40 hours. However, I worked all those hours, no down time as I always had more than 10 major projects at any given time and they were all hot (some were AOG).
@@rampar77would I be able to get your LinkedIn, im currently doing an undergraduate degree in engineering and am planning to go into aerospace and have a quite a few questions with regards, to pay, the natural progression of the field and the actual work opportunities , thanks!
Reposting? 🤔
Its his new channel focusing on careers
@@garywinthorpe8694 true
it's a similar topic but actually different from my other videos. this week covers an M&A deal in detail day by day which I haven't done in previous videos
Are you getting paid for all that overtime ?!
Frankly speaking, this life is far better than 40 hours a week with no future & have a "family life" on evening wiping kids' bottoms, cooking ... Fight for the top dudes or you'll regret it for life
Idk about that one