If there’s one thing Bros love more than lacrosse and pounding Natty Lights in the parking lot before a Dave Matthews Band concert, it’s pursuing a career in finance. The hustle of I-banking game and the high salaries allows you live a pretty sweet Bro lifestyle — Summer weekends in Montauk, Halloween in Vegas, boozy bottomless brunches at Pranna in Murray Hill on Sundays, buying recent Duke girls drinks at Joshua Tree.
Or not. Even with that awesome associate salary and $2800-a-month studio in Windsor Tower, you will never be able to leave your office to meet your employer’s insane workload demands.
If you want to hit VP status by age 30, you have to GRIND your ass off with a grueling work schedule, preparing Excel spreadsheets or staring into the chart abbess of a Bloomberg terminal for, like, 100 hours a week. Remember that Barclays trader who sent an e-mail to summer interns outlying basic office procedure? He’s not that far off on what it’s actually like at most big finance institutions.
Goldman Sachs is trying to change the perception that it isn’t literally working interns to death, especially in the wake of a Bank of America intern in London dying at his desk after pulling three all-nighters in a row. The world’s most elite finance institution is asking it’s interns to not stay in the office between the hours of midnight and 7AM and “only” work 17-hours a day. Via Business Insider/Reuters:
Goldman Sachs Group Inc has told its summer investment-banking interns not to stay in the office overnight in a bid to improve working conditions for its junior staff.
The move, according to company sources and confirmed by a Goldman spokesman, illustrates how Wall Street banks are seeking to curb excessive hours worked by young employees who see internships and entry-level jobs as a chance for a lucrative investment-banking career.
Goldman has told its new crop of summer banking interns they should be out of the office between the hours of midnight and 7 a.m. during the week.
Meanwhile, I’ll be over here writing about whatever Kate Upton’s up to today in my underwear on my couch while dousing Hot Pockets in ranch dressing.
Please don’t die at your desks this summer, finance Bros. I don’t know how you do it.
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