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If you ask banker friends, they tend to exagerate their working hours (this is what we call the "superhero factor") to show how tough they are.
And if you want to ask HR or recruiters at banking events, well..probably not a good idea to ask if you want to get the job anyway. Here is the unbiased answer from Ask Ivy How many hours do analysts work per week, on average?
A modelling test is similar to a case study; you are given assumptions, sometimes a brief description of the business, and then asked to perform some analysis.
One of the key question students and future bankers ask themselves is "how bad are the hours in investment banking"?
It is quite often difficult to get a real answer to this question.
- Unpredictable workflow: client demands are extremely unpredictable and workflow comes in extreme "peaks".
You could have nothing to do for a week, but suddenly a client may call to ask for urgent advice on a large M&A transaction.
Unfortunately, it does get better but not that much - you will still work long hours throughout your analysts years. Two reasons: because the work is non-divisible and because work patterns are unpredictable.