Expect to work hard – really, hard. And don’t look for short cuts.
The new York Times reports that Credit Suisse may be encouraging its young bankers to shun the office on weekends if they are not working on a big deal.
And Goldman Sachs might have a 'junior banker task force' to examine how to make the lives of lower-ranking analysts and associates more efficient and humane.
But Randall Dillard, managing director and chief investment officer at Liongate Capital Management, a fund of hedge funds, had a distinctly different message for a roomful of prospective financiers on Monday morning: expect to work hard – really, hard. And don’t look for short cuts.
'I don’t say that because I enjoy telling people to work long hours', he said. 'There’s just not a lot of coasting'.
He cited a recent Financial Times poll that asked young bankers how much they worked. Fifty percent reported that they worked 60 hours a week. 'That’s not even in the game', he said.
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image: © Kai Chan Vong