Re:Intern’s death puts banking culture under microscope
by refurb on Wednesday August 21, 2013 @10:39PM
(#6254788)
One thing to remember is that a lot of those 100 hours are sitting around waiting. Not to say they don't put in a lot of hours, but a friend of mine (banking intern) was told a 7pm to wait for a signed document to be signed and faxed in.
It eventually came at 4am. He basically sat around for 8hr waiting for it.
I have cousin who worked for Nomura in London and 100+ hours per week are normal thing in IB industry. I doubt that all-nighters were mandatory for interns, but it is very competitive environment and there are dozen of other interns/students waiting for opportunity and ready to do it. Someone wrote its for the face-time but nobody pulls all-nighter for face time.