NYC Investment Banker Reacts to Industry Ep 1 (HBO Investment Banking Series)

Hey guys! Welcome back to my channel. I’ve finally gotten the chance to watch the first episode of “Industry,” a new investment banking series on HBO.

Hi guys welcome back to my channel in today’s video i’m going to watch this show called industry it’s on hbo it features a couple of young people who are looking to go into investment banking the show goes over all of their struggles and their conflicts throughout their time there i’ve heard pretty good reviews about the show a lot of people seem like they’re

Binging it and so i’m really excited to start watching it and let you guys know what i think of it for those of you who don’t know me i’m an investment banking analyst working at a bulge bracket firm in new york city and i make career videos focused on banking and occasional lifestyle and travel videos here on youtube i’m going to start watching episode one why

Are you here then i think mediocrity is too well hidden by parents who hire private tutors i am here on my own why did you read geography geography the least amount of applicants the year before so i think the atmosphere in the interview room is pretty accurate usually this is how it looks you’ll sit across a conference room table from one to two interviewers or

Even three at times and they’ll essentially grill you on questions similar to this they won’t all be technical some of them will just be random questions like the ones these guys are getting i didn’t realize that we recruited from suny binghamton to non-target so what they said about non-targets i don’t think anyone would actually say that during an interview if

They don’t know your school is all they might be like oh i’ve never heard of your school before that’s really interesting how many people go there but i don’t think anyone would say anything like oh we don’t recruit from there it’s a non-target so the scene where she’s walking through the city i’d say that’s a little bit reminiscent of how i feel and she’s in

London i’m in new york city but it’s the same kind of feeling where it’s all these high-rise buildings next to you and there’s so much hustle and bustle from everyone trying to get to work in the morning she’s also the first one there at the desk in the morning and i’d say that’s pretty representative of juniors specifically on their first day usually juniors

Are expected to get there earlier especially if you’re an intern as well in six months time on rift day that’s reduction in force you’ll be standing in this room telling all of us why you should be hired permanently to your desk so look at the guy or gal next to you really look do you think you’re better than them maybe you are but half of you won’t be here

In six months just make yourselves indispensable okay so that was intense they don’t actually say that to you when you join as an intern it’s phrased much more like it’d be an open environment and the environment to help you learn but essentially that’s what it is it is a very competitive environment especially during an internship where you are competing with

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Others in a sense for open spots that are available for full time how’s your module you finish in the morning send it over my way i’ve got capacity how do you have capacity brutal finance guy i really don’t see any reason for another full-timer to take on someone else’s work it almost never happens just because we’re all on maybe three to four projects at the

Same time and there’s always work and really any free time you get you can get you get and you don’t really get credit for doing someone else’s work you’re bouncing hey man hey it’s only 10 15. no one here is actually gonna tell you this but you need to put in facetime actually i don’t staying up on that doesn’t know how’s my work what he said about facetime is

Actually really true it varies from bank to bank and group to group some groups have more of a face time culture and what this means is that even when you’re more free you have to sit there and pretend like you actually have work and stay just as late as everyone else even if you might have finished at 8 pm and 10 15 p.m it’s really not that late in investment

Banking a lot of the time there’s still a bunch of analysts there at midnight so if you’re the one leaning at 10 15 pm you might actually be the earliest one leaving the office you’ve only left the building once in the last 48 hours it’s automatically red flagged by your id card i don’t want to know where you’ve been sleeping but optically i need you to walk

Out of the office tap your card out do whatever then come back no more okay sorry so it is a little bit dramatic that this happened not that he slept overnight the office i do know people who have slept overnight at the office but there’s no red flag thing for not tapping your car down at least i don’t think so there are sometimes red flags if you’re working

Over a hundred hours every week consecutively for maybe three weeks by the way she’s treating this you can tell she doesn’t even care about his health at all she’s just telling him to tap in for the sake of not getting a red flag but clearly she doesn’t care that he hasn’t been sleeping for 48 hours and has just been in the office and hasn’t changed clothes i

Think this is a bit dramatic i do think people in investment banking will care about you if you slept overnight at the office you’re a bit of a masochist excuse me megan clement in the meeting this does look like it’s pretty typical of a work outing everyone’s still in their work clothes there’s a lot of them they’re all cramped up in a bar but it’s more of a

Mature crowd usually people will do this and then maybe bar hop to another one with a smaller group and then perhaps go clothing afterwards um did she ever i was looking into the business you did right uh priorities buy an option on the us tenure at four percent yields haven’t been there since before you were born sorry nicole graduates don’t normally pitch

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Sometimes they will try to bring juniors or interns to meetings generally not dinner ones but i’d say in office meetings they will try to bring juniors to but this is pretty representative of a junior inside a meeting you don’t really know what to say and you don’t really have the authority to speak to such a big client and you’re kind of encouraged to not say

Anything in the first place and let the more senior people and full-timers speak be rested hunger fix will change the time zone at nine tomorrow we need to get the book to the princes by six a.m don’t stay up all night but tell me that’s doable okay that’s pretty funny that’s something they always say don’t burn the midnight oil don’t stay up too late but we need

This by 6 a.m tomorrow morning so basically what happens here is that she needs these books printed by 6 a.m for a meeting that’s in the morning i’m not gonna say this is dramatic because it does happen and it’s happened to me where i’ve had to get up really early in order to print books do last minute comments it’s just a matter of what happens when there’s a 9

A.m meeting okay i’m just gonna say that i love the juxtaposition between this clubbing music and him listening to the music through his headphones like i said before this is pretty accurate they just went to a work event so one of them went clubbing the other one went back to the office which happens wow right you’re in the meeting with me well done can

You just reprint it the meetings at 9 00 am you don’t want to company what’s happening here is that he sent these books to the print shop to be printed for the meeting but he noticed that i think the font size or something was wrong and so he’s trying to get the print shop to reprint a page i’d say this is accurate to a point this does happen often where we’ll

Send a book to the print shop to print right before a meeting but usually the one who wants to do a page switch isn’t the analyst themselves it’s actually the associate or someone above and another thing is that he didn’t actually get anyone to sign off on this deck he just finished it himself late at night usually when we submit a deck late at night we’ll send

It around to the whole team and then all of the senior people have to sign off on it in order for it to actually get printed rather than he just prints it himself and puts it on the associate’s desk but this getting on the phone with the print job is something that i’ve experienced very often so harry’s death is an unexpected tragedy the next 24 hours and

The way we respond to this are defining harry ended up passing away probably from all the nights he didn’t sleep and all the anxiety and stress he’s had i have heard of cases it’s not like it happens very often if for example someone did have a condition and they were to stay up so many late nights and go through all this stress yeah it’s super detrimental to

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Your health and something horrible like this can happen i do think that this is a little bit dramatic to show in the movie but i think it goes to show that the culture does need to change and there are people who are undergoing extreme stress and not getting sleep at all and they need to be looked out for certain types of people feel the need to overcompensate

Because they feel inadequate it’s all so bad for us how do you mean take the girl with a nose ring isn’t it impossible to compete with this girl’s narrative i mean everything’s aligned for her you know nothing about her well i know she went to a uni and i know she’s black and i know those things mutually see if sure but together tick tick i actually feel like

This personality type holds true obviously not for everyone not everyone is like this and isn’t elitist and snobby about this stuff but i have heard people say these types of things so that’s unfortunate she thinks that way we have the southwest suite let’s do it interesting ending i like how she just decided to splurge and get a super nice luxurious hotel room

That honestly be worth like one entire week of my intern pay but whatever overall my final thoughts on the show i did find it a little bit dramatic at parts but of course it’s an hbo show what do i expect them to just sit in the office all day doing powerpoint excel of course they have to add some interesting lines to it have to add a little bit more personality

To the characters have some really dramatic events happen i think certain things like what the characters wear are incredibly accurate to invest in banking the work that i see them do on their screen as well is what investment bankers do this show was created by people who were actually in investment banking and have an idea of it it’s just certain things are a

Little bit more exaggerated for the show for example the late nights the stress the anxiety going out it’s just all pushed to an extreme let me know if you guys have any questions down the comment section below or if you watched the show and you enjoyed it or you were binging it let me know your thoughts and what you think of it also let me know if you guys want

Me to do a reaction video to episode two as well i’ve only watched episode one so far as always thank you guys so much for watching i’ll see you guys in the next video if you haven’t already please remember to give it a thumbs up if you enjoyed the video subscribe to my channel and also turn on the bell for notifications thanks and i’ll see you guys in the next one bye

Transcribed from video
NYC Investment Banker Reacts to "Industry" Ep 1 (HBO Investment Banking Series) By Angela