Banks and hours worked

**Sockpuppet** · 25 October 2006, 20:19

Originally posted by christhedon

1) How many hours do you tend to work a day in this environment as a contractor?
2) If you happen to work more hours one day than you had expected, would you then work less hours another day?
3) Do you tend to just work the hours that the permanent staff around you work?
4) Is there some sort of unwritten etiquette about the above? I.e. a common theme accross all the main banks?

1) Dont know not done IB contracting
2) Depends on what the management are like. If they are cool with it then go for it.
3) I work to do the work. When the work is done I stop. I will probably do 4 hours in the day and 4 hours late at night so I'm not a good yardstick.
4) Again not the person to ask.

The main thing as a contractor you are being hired to produce the goods not the hours (although it can be this way round). Hours are for permies. In my role if I can do the work in 20 mintues in the morning that is all that I work.

Cheers
Richard

**AtW** · 25 October 2006, 20:21

Originally posted by christhedon

I'm interested in people's experience who have contracted in investment banks.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

**Francko** · 25 October 2006, 20:46

Originally posted by AtW

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Come on, AtW. I am sure you have the answers.

**AtW** · 25 October 2006, 20:49

No, I am not an expert in this area, even though I did work in a bank in my ex-ex-life, but it was a crappy Russian bank, so it does not count.

**ViolentCheese** · 25 October 2006, 20:52

I work for a major financial institution in the "square mile" london.

Its tulip.

HTH.

**hattra** · 25 October 2006, 21:20

I've spent a bit of time in City banks - though it was some years ago.

IIRC, I aimed for an 8-hour day (including lunch) and flexi-timed around that. I've always kept a spreadsheet of my actual hours, to make sure I'm not fleecing the client. If the client owed me a few hours, then I'd slip in a few longer lunch-hours to redress the balance. Also, in practice, even when the contract specified "by the day" rates, they were happy to pay pro-rata if I billed them for 4.5 days. As long as you agree arrangements with your "client contact", get the job done (most important) & don't take the p!ss, the actual hours worked can be pretty flexible. I don't think they'd have been happy with being billed for a full day, when you clearly took the afternoon off, unless it was agreed in advance (i.e. you put extra hours in on a prior occasion to meet a client deadline). Always let the client feel that he's getting something out of the deal, is my advice.

**Ardesco** · 25 October 2006, 22:04

Depends on the bank and the wording in your contract really.

I have heard horror stories of natwest expecting 10-11 hours a day from thier daily rate staff but don't have personal experiance so it may all be tosh.

**bobhope** · 26 October 2006, 07:22

1) How many hours do you tend to work a day in this environment as a contractor?

~9 hours

2) If you happen to work more hours one day than you had expected, would you then work less hours another day?

not normally, but the occasional under-hours day is okay.

3) Do you tend to just work the hours that the permanent staff around you work?

It's wise not to draw adverse attention to yourself

4) Is there some sort of unwritten etiquette about the above? I.e. a common theme accross all the main banks?

For the 3 I've worked at, it is.

**Ivor1** · 26 October 2006, 07:37

Depends on the role and the bank really.

Most of the european banks Ive worked for its been regular hours, 9 to 6. The US banks longer hours but mainly due to US time difference and having to hang around to talk to them have meetings

The worst bank for hours and stress I have worked for is a UK Bank, Deutsche bank also has a bad reputation for hours / stress.

Banks and hours worked