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Don’t Talk To Randall Dillard About Your Little 60 Hour Work Week Unless You’re Willing To Do It For Free

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…the crux of his unusually frank speech was to explain how to get – and keep – a job in the industry. “It requires discipline, not incredible insight,” he said. Start early, he advised, right after college. And offer to work without pay, he said. Only 4 percent of those who apply will get jobs. “I don’t say that to be elitist,” he said, sounding very sincere. [Dealbook]

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13 Responses to “Don’t Talk To Randall Dillard About Your Little 60 Hour Work Week Unless You’re Willing To Do It For Free”

  1. NAAWP says:

    As President and CEO of the NAAWP, I strongly condemn breaking media and it's liberal agenda.

  2. guest says:

    fund of funds ≠ actual hedge fund

  3. guest says:

    Wonder if he beat the SPX last year after all those long hours.

  4. CTA says:

    So much work and nothing to show for it.

    You don't get success by working hard, you get success by working smart.

  5. Guest says:

    Agreed! Just the due diligence aspect is a full time job at a fund of funds.

    – W. Noel

  6. IBANK4LIFE says:

    Randall you are so cool and inspiring man. It's cool to work a lot of hours you know, it makes you tough and awesome. Damn, you are badass. That speech was just you tellin the truth, it wasn't about your pent up frustration with life or your dysfunction of your erectile. Way to talk tough to these punks man. Awesome.

  7. Quant me maybe... says:

    Only 4 percent of those who apply will get jobs….

    > About the same success rate as that degree in 'Parks and Recreation' that your college roommate had. Only he got laid a lot while you learned everything there was to know about ANOVA.

  8. klhoughton says:

    Shorter Randall Dillard: You do a lot of work, I'll take all the choice pieces. You get the carrion until you are the carrion.

  9. uwotm8 says:

    lol, with which banks do these analysts only work 60 hrs/week on average?

  10. it makes you tough and awesome. Damn, you are badass. That speech was just you tellin the truth, it wasn't about your pent up