Investment bankers typically work 70 to 100 hours per week, with some weeks reaching 120 hours during major deals

The hours depend heavily on your level in the firm and what deal is active. An analyst fresh out of college might work 80 to 100 hours most weeks. An associate (usually someone with an MBA) works similar hours but with more autonomy. A vice president or managing director may work fewer total hours but is on call constantly — a weekend can disappear if a client needs something Monday morning.

The work is not evenly distributed across the week. You might have a quiet week at 60 hours, then a deal closes and you work until 2 a.m. for three nights straight. Weekends are not may provide off. Vacation exists on paper but gets interrupted by client calls or last-minute requests.

This is not a job where you leave at 5 p.m. and stop thinking about work. The expectation is that you are reachable and that urgent requests take priority over sleep and personal plans.

Key Takeaways

  • Entry-level analysts work 80 to 100 hours most weeks, with some weeks exceeding 120 hours during active deals.
  • The hours are front-loaded toward late nights and weekends, not spread evenly across business hours.
  • You are expected to be reachable outside normal hours, and vacation time is often interrupted by client needs.
  • Hours tend to decrease as you move up to managing director level, but the on-call expectation increases.
  • The intensity varies by firm, deal type, and market conditions — a quiet period might mean 60-hour weeks, while a merger can mean 120-hour weeks.

What a typical week looks like for an analyst

An analyst's week usually starts Sunday evening with email catch-up and Monday morning prep. Monday through Wednesday are often lighter — maybe 10 a.m. to 9 p.m. in the office, with some work from home. Thursday and Friday are when deliverables are due, so you are there until 11 p.m. or midnight building models, creating presentations, and responding to partner feedback.

If a deal is in final stages, this schedule compresses. You might arrive at 8 a.m. and not leave until 3 a.m., then be back at 8 a.m. the next day. This happens for days or weeks at a time, not just once. Sleep becomes something you do in chunks — a few hours at home, maybe a nap in the office bathroom or on a couch if the firm has one.

Weekends are theoretically yours, but if a client calls Friday afternoon with a request, you are working Saturday. If a deal is closing Monday, you are in the office Sunday. The firm does not schedule this deliberately — it is just how the work lands.

How hours change as you move up

Associates (post-MBA hires) work similar total hours to analysts but with more control over their time. You might leave at 8 p.m. instead of 11 p.m. because you have delegated some work to analysts. You also attend more client meetings and strategy sessions, which count as work but feel different from sitting at a desk building a spreadsheet.

Vice presidents work fewer hours in the office — maybe 60 to 80 hours per week — but are responsible for client relationships and deal outcomes. A VP might leave at 7 p.m. but take calls at home, review work from analysts at 10 p.m., and be mentally on the deal even when physically away.

Managing directors often work 50 to 70 hours per week, but the boundary between work and life is almost nonexistent. You are the person clients call. A dinner with family can be interrupted by a text about a competing bid. The hours are fewer, but the pressure is constant.

Why the hours are this long

Investment banking is important date-driven. A merger has a closing date. A company going public has a roadshow date. These dates do not move. If you are behind on the financial model or the pitch deck, you work until it is done. There is no "we will finish this next week" option.

The work is also client-facing. If a client wants a revised analysis by 8 a.m., you stay until it is ready. Clients are paying millions in fees, so their requests take priority over your schedule. A partner might ask for something at 5 p.m. that needs to be ready by 9 a.m., and that becomes your night.

Competition within the firm also drives hours. If you leave at 9 p.m. and a peer stays until midnight, the peer is visible to partners. Visibility matters for bonuses, promotions, and which deals you get assigned to. This creates an unspoken pressure to be seen working long hours.

Differences between investment banking divisions

Mergers and acquisitions (M&A) teams typically work the longest hours because deals are unpredictable. A client might decide to sell the company on a Tuesday, and you are building a full financial model by Wednesday. Equity capital markets (ECM), which handles initial public offerings and stock offerings, has more predictable timelines but intense periods around roadshows and closing.

Debt capital markets (DCM) tends to have slightly more regular hours than M&A because bond issuances follow a more structured calendar. However, if a company needs to raise money quickly due to market conditions, DCM teams work just as hard as M&A.

Corporate finance advisory and restructuring can be even more intense than M&A because the work is often urgent — a company in distress needs help now, not in three weeks.

How firms differ in their hour expectations

Bulge bracket firms (the largest banks like Goldman Sachs, JPMorgan Chase, and Morgan Stanley) are known for the longest hours. Analysts there regularly work 100-hour weeks. Mid-market firms and boutique banks often have slightly lower hour expectations — maybe 70 to 90 hours — but the work is still intense.

Some firms have made public commitments to limiting analyst hours. A few have implemented "no work after 9 p.m." or "no work on weekends" policies, though these are exceptions and often have loopholes for deal emergencies. Even with these policies, the culture of long hours persists because deals do not respect policies.

The market also matters. During a busy M&A market, all firms work longer hours. During a slow market, hours might drop to 60 to 70 per week, but you are still expected to be ready if a deal appears.

The physical and mental toll

Working 80 to 100 hours per week means you are at work or thinking about work most of your waking time. Sleep deprivation is common. Many analysts develop irregular eating habits because they eat at their desk or skip meals during crunch periods. Gym time and social life largely disappear for the first few years.

The mental toll is significant. You are responsible for work that affects major business decisions. A mistake in a financial model or a missed important date can cost the firm money or damage a client relationship. This pressure, combined with exhaustion, creates stress that many people find unsustainable long-term.

Some people thrive in this environment and stay in banking for decades. Others burn out after two to four years and move to less demanding roles in corporate finance, private equity, or other fields. There is no judgment either way — the hours are genuinely difficult, and knowing whether you can sustain them is important before you start.

Frequently Asked Questions

Do investment bankers really work 100 hours every single week?

No. Most weeks are 70 to 90 hours, but some weeks during active deals exceed 120 hours. The average across the year is usually 80 to 100 hours, but that average hides weeks that are much lighter and weeks that are much harder. A quiet market might mean 60-hour weeks for a month, then a deal closes and you work 110 hours the next week.

Can you take vacation as an investment banker?

Officially yes, but practically it is complicated. You can take a week off if no deals are active, but if something urgent happens, you might get called back. Many bankers take short trips or check email constantly during vacation. Some firms have blackout periods where analysts cannot take time off, usually around earnings season or major deal closings.

Do investment bankers work these hours their entire career?

No. Analysts and associates work the longest hours. As you move to vice president and managing director, total hours often decrease, but the on-call expectation increases. A managing director might work 50 to 70 hours per week but is mentally on the job constantly. Some people move to less demanding roles within banking or leave the industry entirely to escape the hours.

What happens if you cannot keep up with the hours?

If you consistently leave early or miss important date, partners notice. You might be passed over for promotions, assigned to less desirable deals, or encouraged to move to a different role. Some people are fired, but more often they realize the job is not sustainable and leave voluntarily. Banking firms expect you to manage the hours or find another career.

Are the hours worth the salary?

That depends on your priorities. An analyst might earn $150,000 to $200,000 in base salary plus bonus, which is high for someone in their early twenties, but it works out to roughly $20 to $25 per hour if you work 80 to 100 hours per week. Some people find the money and the exit opportunities worth it; others find the hours unsustainable no matter the pay.