it was the best day

Incoming Junior Bankers Enjoy Two Weeks Of Relatively Humane Treatment Before Being Regarded As The Crud That Gets Stuck To The Bottom Of People’s Shoes

It’s called orientation and training and it’s such a rare and unique time in junior mistmakers’ lives that one guy recounted his own experience to Dealbook as though it was the greatest thing that ever happened to him.

“Training is like a vacation,” said one former JPMorgan investment banking analyst, who spoke on the condition of anonymity to protect his relationship with the bank. “You’re only working about eight or nine hours a day, so it really is your last chance to drink and party and meet people.” On one morning of the program, he said, he overslept, skipping an important test on mergers and acquisitions. The consequences, he added, were minimal. “We knew this was as good as it was going to get,” he said. “There was no surprise that after training, things got rough.”

For Young Bankers, The Job Starts Now [Dealbook]

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19 Responses to “Incoming Junior Bankers Enjoy Two Weeks Of Relatively Humane Treatment Before Being Regarded As The Crud That Gets Stuck To The Bottom Of People’s Shoes”

  1. guest says:

    mouseover ftw

  2. Bullshit says:

    "While it might be hard to sympathize with junior bankers, who can make upward of $150,000 in their first year, some new analysts said the delay made it difficult to move to New York and pay their first rent checks without asking their parents for help or putting a big dent in their savings account."

    I'd like to know which firms are cranking out $80K+ 1st year bonuses.

  3. Guest says:

    "Companies train their employees and living in New York is expensive"

    Thanks Dealbook

  4. Don't know excel guy says:

    They neglected to mention that every major firm(I know I know there aren't any left) cut waaaay back on their programs. They can't pay the people that they have and they are about to show thousands more the door. Media is full of shit

  5. Lefty says:

    All da ladies call me da moistmaker.

    -Gaz Chasperino

  6. word up says:

    It has been a while since I have heard/seen the word "crud" used. Dude on phone calling his mom at home in Indiana looks like the kind that would bring it back.

  7. WWI Afficionado says:

    Can't wait to see these kids at Bro J's and Turtle Bay

  8. Captain Oblivious says:

    Is that a Michael J Fox still photo from Secret To My Success?? Carlton Whitfield is Brantley Foster. Holy shit I'm bored.

    These guys and gals will get an unlimited metro card/sbux card and thats about it

  9. History Major says:

    Ahhh I remember a similar training experience once while spending some time in Parris Island, SC. I overslept one time and missed a meeting regarding small unit combat tactics. The consequences were minimal, but would have been nice to have that knowledge during some extended business junkets in Iraq and Afghanistan. However, I was not surprised when things got rough.

  10. HighFrequencyHater says:

    For what it's worth, I seem to recall getting the $10K relo ahead of the first paycheck; get off my lawn.