Why do investment bankers work insanely long hours?

Before you shout the obvious "beause they make 140k+ starting salary," read what I have to say below. I've always wondered why many investment bankers, especially entry level are forced to work 80-100 hour weeks. As far as I can tell, the only effect this has is to make them completely ineffective at work and draw in people who are more interested in money than in what they are actually doing. There have been numermous studies that show that when people work those kind of hours, their work exhibits low quality as they are always tired and do not have the attention span to focus. Also by making the job so tough that the only reward is the high salary, the people drawn into the industry are people more interested in the money than the science of finance. I postulate that if the banks hired more people and worked them 55 hours per week and paid them less accordingly they would get employees who are less money motivated and do higher quality work. Do any banks do this?

Asked By: binfordaepi - 6/11/2007
Best Answer - Chosen by Asker
Ignore the previous poster, she has no idea what ibankers do. Investment banking is a sales job where the item they're trying to sell (for example, a smaller public company) has limited quantities, fluctuating price tag, and targeted potential buyers... More
Answered By: Kevin Y - 6/11/2007
Additional Answers (3)
This job involves a lot of presure. And since ur dealing with people's money, the paper work shud b perfect and up to date. Dats the reason y bankers work so long. Coz in the daytime they are busy completing their targets and in the evenings doing the paper work. Also the documents are audited anytime. Dats one more... More
Answered By: sash - 6/11/2007
omg and i want to be an investment banker. i dont know if i can commit to 70-80 hours a week. hmm... what should i do....good pay but not worth dying for.
Answered By: bullet b - 6/11/2007
$140K to start is nothing. Senior I-bankers make unprintable sums of money. To be one of those chosen few you need strong sales skills, a reasonable but not exceptional head for business, and an overwhelming desire to make unprintable sums of money. Having a gift for the science of finance doesn't really apply. (... More
Answered By: Bullhead - 6/11/2007
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Click. Search. Apply. Free!
Jobs hiring near your local area. Part-time, Full-time, Work at home.
Sobre 287 Trabajos en tu area. $15-87/hora - Aplica Ahora.

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-306