Investment banking work hours

[itsmehere1]

Hi, I don’t if this is the right forum. I have been working in a fairly medium sized international bank for about 2 years now. I was looking to switch jobs and have just been offered a role in an investment bank based ( starts with C then S)in Canary Wharf. Whilst the on contract work hours look ok, is there any one who possibly works there let me know their actual work hours and the department where they work. I would be a part of the risk team. I’m a bit worried as my commute will be 1 hour each way and I need to be sure before accepting the offer. Thanks!

My DH works for an investment bank but as part of a heavier workload team. Gets in at 6.30am, home by 6.30 to do bedtime.

I think most people do leave early as they get in early.

DH works for an investment bank and averages around 14 hours a day but works from home most afternoons/evenings.

He is a workaholic though, always has been, loves it and gets paid a LOT.

Would kill me but doesn't phase him.

Depends what your are doing? Are you doing data entry or a COO? Makes a difference

I don’t work there but know various people at others. Ignore the tales of people working 29 hours a day, that is normally front office.

Risk colleagues I’ve dealt with at other banks were often doing 8-6 but some areas had shorter hours as standard, some areas were very overworked and often did longer. But it often depends on the attitude of your direct management. Senior staff generally work longer hours than the most junior.

In your shoes I would ask to have a coffee with one of your peers and find out that way if it is a deal breaker.

Depends on the time zone you work on. DH used to work Asia Pacific zone and go in early and come back early.

In the risk team in any bank (no direct experience of CS), your work is largely planned and predictable. You won’t be doing the same hours as people in markets, for example. I wouldn’t expect a huge or regular variation from contract hours.

Congrats on your new job!

My friend used to work at that bank, and she didn't do crazy hours from memory. I work in risk and I don't really see massively long hours in the sector, but it does depend on management expectations. Could you just ask the line manager? Or is it a bit late now.

My son used to work for CS in Canary Wharf and commuted in from Kent but found it too long a day so he moved into Central London.
He worked 7 till 7.

Depends. Make a point to do the hours stated in your contract in the first few weeks so you set up a routine. It's usually about 8 hours with lunch. For risk depts, the work may be all end of day though so you may be waiting for FO to give you the data which is a PITA.

Working in the city - I do 9am to 6pm. And a hour and half commute each way.

You’d be fine in risk at CS. From what I’ve heard they are good to work for and as non front line you will not be working 12hr days. A friend was working in IT there earning good money and did ordinary 9-5 hours.

My DH works for GS. He works 9-7 ish and gets back between 8pm-9pm.

Thanks for all your replies. I'm a bit worried as we are planning for our first baby come next year and whilst career wise I feel joining CS would be a wise decision, I'm not able to comprehend how will I manage childcare I'm out of house from 7pm to 7.30pm assuming working from 8am to 6:30pm.We don't have any family here and husband works in a consulting firm which itself is very demanding. I work 9am to 5pm currently. Salary hike would be approx. 15%.Lots to think about this weekend it seems.

• 7am I meant

It is hard for childcare (and sickness) as we also don’t have family nearby. I have been forced to work part time due to being the lower salary.

Colleagues working with DH either have a nanny, a partner who has gone pt or have applied for flexible working contracts. The latter though definitely impacts promotion. Good luck with what you pick. If I was in your position I would go for it as it (hopefully won’t) might take a while to get pregnant and once in the role there are more options.

I worked on the HSBC trading floor for 15yrs but in front office sales. Hours were around 7:30am - 6pm/6:30pm. I had two babies whist there and they came to work with me and went to Little Unicorns nursery in CW. Which caters for all the bankers. Fees are eye watering but they are open the hours you will need.

I think Edwin is right. I’m in IB and not in the front office, it’s highly unlikely you’ll be out before 6/6.30 and once the commute is added that buggers any local nursery.

You might find it easier to look at a nanny share or bring the baby into town. You can always pop in at lunchtime then too.

Have you enquiries about WFH? Most IB are hot desk these days so once you’re settled that could be an option.

Tbh I’d take the job as is, knock their socks off the next couple of years and you’ll likely be able to negotiate more effectively when the time comes.

Credit Suisse, although it is an investment bank, is a lightish one. Working hours and flexibility are similar to Barclays and HSBC (though HSBC offers more flexibility to contractors). So you will need to be at your desk (either in the office or at home) by 8 and leave by 6-7pm to be seen as a valued investment. A proper investment bank is often 7-9 or longer!

With those hours, you will have to bite the bullet and get a nanny. Since your dh is in consulting, you should be able to afford one.

If you planning to have more than one child, have them out in quick succession to minimise the childcare costs. A nanny costs the same whether she is looking after 1, 2 or 3 children.

I don't like the idea of bringing a baby or child with me on what is already a stressful commute for an adult to use a nursery near work. Other commuters will not generally be amused. There are so many accidents (last minute nappy filling, tantrums) which prevents you getting out of the house on time even at the best of times. If you have to use a nursery, it is better (and cheaper) to use one near your house and use the savings to have an aupair as wrap around care. That way, you don't have to rush around on unreliable public transport.

How ignorant @blueshoes - there are ALOT of parents with kids on the commuter trains / buses to Canary Wharf. At least make the commute before spreading false info.

Sure, power to them.

Lots of parents do the commute for sure but it can be very stressful and unpleasant, especially with delays. It’s almost impossible to get a standing space sometimes let alone get a pram in (even folded).

I know the place well (nuff said).
CS is really good compared for the other banks (I know most of them very well too - have definitely been in the city for far too long). I would say however that the supportive atmosphere did take a bashing a couple of years ago with some restructuring/refocusing, that led to quite a bit of staff turnover. But it is still a pretty nice place relative to other banks. The hours shouldn’t generally be more than 8-6.30/7.00 although if your role includes any of the ongoing projects then all bets are off - there are a few large programmes of work ongoing and the hours can get a bit crazy close to delivery deadlines.
The nursery (next door, pretty much, if you are based at no1 CS) has a good reputation.

For a 15% pay rise I'd not do it personally. When you are talking the sums involved, it makes no difference.

I wouldn't generally move for a 15% pay hike either. However, if it allow OP to take the next step up the career ladder (whether in terms of better status/brand name, more skills, better title, progression), then it is good for OP to build up some gas in her tank before dcs start to slow her down (temporarily but the pay/career hit extrapolates over those years) so better to start more senior.

The irony is that it is often easier to ask for flexible working when senior with specialised skills than junior.

With long-ish hours, the ability to be able to work flexibly is the key, whether it being allowed to move pt, flex the hours to start early/leave early (good for nursery rn as it avoids rush hour commute and allows drop off/pick up shift with dh), or working from home (bliss, no commute but still need childcare).

Risk should by nature be more flexible than other types of roles. I work in risk but in a different sector. I work from home practically 3 days a weeks now but pretty senior. It depends on the appetite that CS has for flex working.

OP, you don't have dcs yet but if you do take the role, it is worth keeping your ear to the ground on this. The more the managers like you, the more likely your flex working application will be facilitated (within the confines of the flex working regulations, of course).

I know someone in the CS risk team. My husband used to be there too. He was a 7-6pm type of Guy - workaholic though and when he was gone totally switched off. CS are fairly flexible when it comes to agile working though - have you asked about that?