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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

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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]


Memo To UBS Junior Bankers: IBD Chief Andrea Orcel Wants To See Asses In Seats

None of this "protected weekend" BS for his junior bankers.