Reaction to JP Morgan Executive Telling New Employees to Expect working 12-hour days 6 days a week
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- Опубликовано: 27 июл 2021
- Patrick Bet-David Podcast Episode 78, Patrick sits down with Adam Sosnick and Gerard Michaels. In this short clip, they talk about JP Morgan CEO saying that starting employees should anticipate working 72hrs hour work weeks in order to master their craft.
Watch the full podcast: • PBD Podcast | EP 78
The Bet-David Podcast discusses current events, trending topics, and politics as they relate to life and business. Stay tuned for new episodes and guest appearances.
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Patrick is a successful startup entrepreneur, CEO of PHP Agency, Inc., emerging author, and Creator of Valuetainment on RUclips. As a natural critical thinker, Patrick takes complex leadership, management, and entrepreneurial ideas and converts them into simple life lessons for today's and tomorrow’s entrepreneurs.
Patrick is passionate about shaping the next generation of leaders by teaching thought-provoking perspectives on entrepreneurship and disrupting the traditional approach to a career.
Follow the guests in this episode:
Adam Sosnick: bit.ly/2PqllTj
Gerard Michaels: bit.ly/3fMja9z
To reach the Valuetainment team you can email: info@valuetainment.com
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#PBDPodcast #ValuetainmentShortClips
No one on their death bed ever said I wish I had spent more time at the office
Maybe not but too many people were on their death bed because of bad choices (drugs /alcoholism)they made because their conscious ate them up because they knew they never reached their full potential.
I remember hearing about a study that said the majority of people towards the end of their lives regret the things they didn’t do more than the things they did do
If sacrificing your life for an extremely good salary is worth it to you then do it. If it’s not then don’t.
Simple as that.
Go suns!
“Having money is not everything, not having it is” - Ye
I’m two years with my firm and oooooooooooh boy I didn’t expect this type of money in wealth management
Suns in 4
That's right, but then don't bitch that lifes not fair.
1st prize - new cadallic
2nd prize - steak knives
3rd prize - you're fired
....put that coffee down
I like how you can tell this is a boomer post. Thinks Cadillac's are top luxury cars still lol.
Glengarry Glen Ross... Great Movie!
@@ichigo2012hollowmask not a boomer post. It's a quote from a movie about the same subject being discussed on this podcast.
@@Daniel-hs6ct *"Coffee is for closers"*
"The leads are weak"
*"You're weak!"*
So everyone at JP Morgan mastered their skills and they all failed to spot every single market crash. Lol. Dude, it's BS. Coming from a workaholic, I agree with Gerhard. If there's work to be done, do the work, if not, you're wasting your time.
They're not in the business to save people. They're in the business of doing deals that increase their pockets. So let's say you buy a business for $900 million. And if the deal closes with a 7% interest rate, they pocket that every single year. When you understand that, you can get insanely rich once you join the acquisitions and mergers space and play the real Monopoly game. 🤑
It's not that they failed to spot it, but it's greed. Trying to make as much money as possible while the economy is booming !
@@infini.tesimo that game you just described is exactly why empires fall. The USA will be no different
@@infini.tesimo There is insane money for them to be made if they knew when a market will crash. There are guys who've made billions shorting the market at the correct time.
@@2drealms196 Only few make good money. Don't kid yourself. Most lose money. Even experts lose money sometimes.
Although I hate JP, they're right. I work for a brokerage on an 8 hour shift, but realistically it's 10+. The ones that didn't pass the S7 got Got. The ones that stayed are the ones that studied, put in the extra time, comprehended the material and the industry, networked, and mastered their craft. 6 months in and promotions are already in order for some.
Was it six days a week though?
personal health and well roundedness is better than a silly "promotion"
Working over 70 hours and most probably only 2 weeks vacation (but you are required to be reachable). Coming from Europe and worked in the US, this is why I quit after two years in the US. It is unhealthy and in my opinion not worth the money. But everyone goes his own path…
Swiss bankers aren’t working these hours and they live a very comfortable lifestyle.
@@peanutbutterchocolatecake6182 they are definitely working those hours but get even more compensation ;)
3 reasons why you should work those kind of hours:
1) you work for yourself and are making your dream come true
2) you want to learn the skills so that you will be successful in your own venture and will quit the rat race to start that
3) your dream aligners with the company, think SpaceX and colonizing Mars or starlink to provide global internet coverage to everyone in the whole world
If you don't have a bigger picture goal it's probably not a good idea
I’m literally doing those hours right now. I feel like a damn slave man. I wouldn’t mind it so much if I was working for myself, but the fact that you’re doing it for someone else makes it tough. My goal is bust my ass for a few years and hopefully make some smart investments and pull myself out of the rat race
There is no escaping the rat race. Even when you make millions of dollars you are a rat in a wheel. It takes one economic disaster to see your net worth crash and you’ll contemplate ending it all just like a bunch of people did in 2008. Unless you are the puppet master you are a puppet. There are very few puppet masters.
This is what everyone in corporate says to justify their enslavement.
If you get payed, and have rights, then you're not a slave
@@wtf1231122 LoL. This is funny. Good one!
@@andreworrell8407
Why's that funny?
As an engineer, the amount of social activity in that job sounds awful. You couldn't pay me enough to have to go around (social) networking 12 hours a day.
That’s how they all end up alcoholics.
Literally bro!!! Super social butterfly is required
Exactly my thoughts. I'm in the financial analytics field and I couldn't handle the social side. I could probably do 12 hrs if it's just sitting in an office programming or something, but that kind of JPM job would weed me out basically on the first week of cold calls (if that's indeed what it is).
the types of people that do this, could never do what you do. to each their own!
I work at a Cpa firm and the culture is the same. I’ve had many days where I worked 7am-12am
How do you even remain productive when your brain is that tired, it seems inefficient
I worked one busy season at a firm and got fired cause I didn’t come in on Saturdays eventhough I’d waste half a Sunday traveling to a client. I’m glad cause realized that wasn’t for me.
you worked 17 hours straight? WTF
@@kingatowning I mean maximum that's still 5-6 hour sleeps.
Welcome to the resident physician life… Routinely have 14-16 hour days without a “lunch”.
The nurses are actually the ones doing the work. And they don’t have sleeping quarters at night.
I was thinking about all the doctors and nurses. God bless you all!! ❤️❤️
All of that work can be done from home. Data entry, analysis and contacting prospects. Older generations are just wanting everyone to do it the way they did sitting in an office
Depends what they are doing, some tasks require good infrastructure and there may be compliance reasons.
i did the 60 plus hours a week in my twenties no problem....now in my 40s i do 30 maybye 40 and rest of the time im running my rental properties....i do not want any overtime ....gotta spend time trying to reach your goals NOT making your bosses goals.
Hows your airbnb doing being serious???
I been looking to get into it in Orlando where I'm from
Most make 4 to 8k a month on air bnb minimum some 10k to 50k depending on the house
@@chris-cy5ed i have regular long term rental units...
The four questions may have just changed the course of my life. Thank you.
My first job out of college was in investment banking, leverage finance to be exact. I worked 100 hrs/week. At least 80 hrs/week every week.
These jobs sound like pissing contests. It's already been established through a lot of data, a human can only concentrate properly for 3-4 hours maximum.
This sounds like busy work, like a lot of corporate jobs.
Reality > "Data"
Just because the old people worked 12-hr, 6-day schedule doesn’t mean that the kids today should work the same schedule. With the internet, kids are much more efficient in gathering info. No need to sit around in the office like they used to. Remember, you needed a secretary to type up your reports back in the day. You actually had to call people, which can be less efficient than emailing or using enterprise communication tools.
I don’t believe he is wrong. It takes 10,000 hours to master a skill, so why not expect the same dedication and persistence in your career? Don’t just show up to the job, volunteer extra work hours when needed, if the boss needs assistance volunteer, learn more and get more skills to move up.
i agree 100% but then get out asap and make YOUR dream come true.....not your bosses...in my opinion should be for the experience only..you will never get anywhere being an employee for life..
@Frugal Investor bahahaha 😂😂😂😂👅
@Frugal Investor
I know right? The amount of boot kissing in these comments is sickening.
Hahahahahhaha lmaoo, ohh yes the boss will greatly appreciate that lol
Depends on the rewards
The guy had a good point, and similarly, i'm not in the finance industry. But is there actually 12 hours of work to be done? I work in healthcare, and in my first few years, i worked 12-hour shifts. During that 12-hour shift, there was absolutely work to be done and then some. Majority of that work was documenting health status every hour or two, administering treatments, assisting in procedures, communicating with various other healthcare providers and family, assisting with patient's hygiene, answering phone calls, creating reports, training colleagues, and probably a few other things i missed. During any given shift, an emergency could arise that could significantly impact & delay any one of those above required duties/tasks. The difference being, we would only do those 12-hour shifts, 3 to 4 days a week, not 5-6 days a week. I'm curious as to what tasks these new finance employees do that require a 12-hour shift, 6-days a week. I'm wondering why they couldn't work something like 9-10 hour shift and accomplish the same things. I mean, hasn't technology helped to make things more efficient?
I worked as an investment banking analyst.
The guests have no idea.
But Pat nails it, as usual.
That information is spot on, stop sugar coating the truth
I agree I work 10-16 hour days and made good money that allowed me to buy a home and give me more choices but it came at a certain cost that I am not willing to sacrifice in my fifties that I sacrifice in my 20s and 30s i.e health and relationship. Most everything has a cost.
Great clip pat
Gerard makes more sense. Not “grinding your employees into dust” as he said.
As I mentioned in another of your videos Pat, billionaires and multi billion dollar companies exist because of corruption and exploitation
These capitalist zombies don’t want to hear that. They all want to believe in the fairy tale that hard work will get you to 8+ figure net worth. Unless you are ready to ruin some lives on the way to the top you won’t ever reach it.
@@prtitan27 and its pure greed. There’s so much more to life than stacking money.
@@davruck1 i agree 100% but if they are upfront on possible 80 hour weeks they will get hungry kids looking to score....no way am i working that many hours for anyone but myself.
Absolutely, capitalism works on extreme exploitation
Love Pat but he doesn’t know what he is talking about. “Minimum 7 figures after 5 years” LMAO 😂, at these investment banks you are an associate 5 years in you will be lucky to make 1/4 that. Only people pulling in 7 figures at an invetsment bank are the managing directors and they have been there 15+ years minimum
Its called insider training and you’ll call it your side hustle
I like what your doing pat. Your book an a few others have really opened my mind to the art of being subtle and it’s been a game changer to say the least. Thanks for the affirmations. Always appreciate on this end 👽🤙🏼
Thank you!!!!
I’ve been working 70 hours a week for three years now . It’s not that bad if you love your career
What do you do?
I used to think that too until I realised I could do the same amount of work and more hiring a team but this mindset delayed this.
This is slave stuff .... if you wanna get after it like a beast you should be rewarded for it ... it should not be mandatory
It's not. The job isn't mandatory
if they are upfront that it can be 80 hour weeks i see no problem...
@@workingshlub8861 everyone knows already so yes
If you’re an individual in a competitive field that has the potential to net you as a high earner, you damn right I would work 12+ hours daily in the early years to get it! With that said, too many jobs today want you to work those hours with no overtime and a barely above average salary!
Oh yea clients love me and my story! I’m 25 U.S army Veteran. young family. Still serving in the reserves now. I went from bank teller 15/hr to wealth management never made this kind of money even on deployments. Now my destiny is in my hands!!
Sorry, I love money but I don't want a heart attack, stroke, nervous breakdown, ulcers or worse , not worth it to me.
I've read stories about how little these people make when they first start out in investment banking. And how expensive the city of London or New York is. I also read that many people leave for greener pastures after a few years.
youre just a wannabe
@@juanshaftpatel7488 ruclips.net/video/MPjWRu5heGs/видео.html This is a talk given by Anton K. But read one or more articles years earlier on the subject. I have a passing interest because I have a jobs related domain name.
Do people not realize that most IB analysts only work at these banks for those 2 years for the exit opportunities???
Both cities are expensive but their jobs definitely pay enough to survive lol, you must be reading about people in middle or back office who often don’t work quite as many hours.
People leave for a variety of reasons, one thing though after a few years they’ll have saved some money unless they are foolish and their experience makes them highly employable so it makes it quite easy for them to leave.
@@mattm4610 most quit and do something else
Nobody should work that hard unless they are working for themselves.
Don't remember employers asking how many hours of experience you have,pretty sure they ask years of experience so that "mastered in 2.5 years" doesn't help you finding a new job
Most important part of podcast takes place @ 7:55, I love this! Never thought, once you know your dreams/goals, can you recite them in less than 20 seconds with clarity on stage? :-)!
Ya I worked for an elite branch of JPM...there's a reason I chose to leave. CEO is quite a jackass, too. And NO, they do not know or expect to work those kind of hours. The hiring process in corporate America is exceptionally deceptive.
Mean while billy boy down the street bought shiba and doge and is sitting on millions
As a JP Morgan shareholder idc as long as they make profit. As a us citizen idc ima retire early at 36 don’t care about the US working to death culture. As a human being I’m disgusted.
To be a financial advisor at Goldman, you need to be smart and to be immoral.
I work 60 plus hours a week. Its not that difficult once you get used to it. But i start work at 630 am and im a mile from my store so im still home pretty early in the day. Getting home at 8-9 at night is horrible. There are different 10-12 hour days and it makes a massive difference.
Get a life dude... You can make money over the internet in half the time. People need to wake up. Now days you are a fool of you work for someone else 60-80 hours per week.
@@ericwilson4901 my life is pretty decent man i have my own restaurant.
What were your hours?
@@COLDoCLINCHER37 6am to 4
@capcomfan82 Being in the restaurant business is rough on life balance. I work in hospitality and run my own store 62 hour weeks all the time and actually working the whole time no half ass.
You mean to tell me people don’t work 12 hours a day…..I thought it was just a normal thing….
I'd rather be a tradesman working 40 hours and make a decent wage, than have that kind of job.
Preach
And you have earned your crust honestly. Not swindled someone out of theirs
gotta make more per hour not work more hours......its what you know not how many hours you work.
@@shawnlee220 well if you work for a company, you can do 40 hours. If you are self employed its going to be at least 10 hour days
@@kieranhimself3655 So, you are saying that all in Finance, or investment banks are swinders? What an idiot....
I run a small mortgage brokerage. I've known a lot of people in high level positions. Working those type of hours is just a requirement. Nothing I would rather be doing than working. I'll start to relax in my forties and then retire in my late 50s, then travel the world the rest of my life
Already old, best years are behind you... Sounds good to me 🙄
The values of younger generations are different. I think the response will be "lying flat."
We're not china
The same is said in engineering, too.
This is how you gain the skill sets.
🤣🤣🤣🤣 around here in Cali that’s a natural day of work for a lot of us..
I have done these hours and got this pay... was it worth it... NO! pushing yourself this hard makes you put on blinders to your life. You end up missing more important life events... birthdays, graduations, and other events that are lost to time for pieces of paper and a job that will immediately replace you if you can not keep up the pace on that hamster wheel of life. Trust me... it is not even close to being worth it.
Greedy sociopaths don’t give a shit about their kids or family
Success is..... You fill in the blank for you.
Mr. V knows his shit. Good One
Sounds about right.
After you sir!!
In our industry it is normal to work 6 - 13's for six months straight. Then we ramp down to 6-10's. Bare minimum is 5-10's. Most make low 6 figures working these schedules.
Like Pusher 398💥 If the Push is Worth the Rewards, Keep Pushin!
Sounds like REALITY TO ME.
That division/department at Chase already works over 12+ hours daily
Adam has gotten a lot better lately.
Wow… my best friend starts as a wealth management analyst with JP Morgan Chase in the end of august. God speed bro.
The private sector is an ultra-competitive world. Few are able to succeed in it. To those who do, we tip our hats. It's not for everyone. However, it serves no one to be insecure or jealous of those who are fit for certain occupations.
No such thing as burn out. You either slept 8 hours or you didn't.
Blue collar here my whole life, 8 hour shifts? Never. Always 12-16 hours. I love it bc I am able to create generational wealth from it. Keep the 8 hour shifts for high school kids on the weekends.
The only surprise here is that they are not replaced by a software already
Machine learning is going to put a lot of people out of work
@@prtitan27 it's humbling. There is almost no job that is safe.
Well the Japanese tried this, yet studies have found American workers are more efficient in their work day, as a result of reasonable hours.
Hustle culture and this Victorian era work ethic mentality is ridiculous once your break your mind away from this materialist paradigm
Everytime I hear big boi, he sounds like a person who has an opinion about everything but doesn't think through his argument. Makes Adam look like a Professor.
😂😂😂😂😂
I can't believe I'm saying this but Adam is right
Turn on captions 0:40 to 0:41 lol
7:43 pat salutes lebron, john cena and China's approach to the world
Everything these people say is preparation to be a better slave . Every time they promote productivity, that’s doing more in less time, however, no more time is given for vacation. At the end , you are still working more with monetary benefits that you won’t have Time to enjoy. Humans are tools for these masters .
Complicit in their own slavery
Work until your arms & fingers fall off , no thanks . Be an coder , experienced coders make just as well
And they also get worked to the bone.
Or they could hire people that graduated from state universities but we all know that would disrupt the country club vibe in the office.
Respect to Jp Morgan
My buddy just got a job there, fresh out of college 50 hours a week
he wont make it then
I was blown away when on some secular history podcast I heard the narrator state that during the time Spain was in control of--I think it was Cuba but not 100%--the work day hour for most people, under law, was 3 hour work days. Yes, 1, 2, 3 hours.
The people revolting wanted the Americans to take over, again if I recall correctly it was the Americans, so they could work far longer hours each day.
Begs the question does one work to live or live to work?
Depends the individual & their upbringing in my opinion.
@@jeffmiller3499 I'm not actually against 12 and 16 hour work days. Milwaukee won the 8 hour words for the country via bloodshed by the way. What amazes me is that people could make a basic life of survival off of just 3 hours of work a day. You can't even do that in the modern USA on minimum wage while living in the worst ghetto.
@@brewcity2317 it’s not amazing. You’ve been lied to. Getting food clothing and shelter takes less time than what you have to put in to make fake money
Bro I’m Cuban you are wrong. In Cuba there is no point in working because is a socialist system everybody makes the same. I seen doctors make 40 dollars a month working 6 days a week 12 hour shift and they had to clean the floors. Basic human needs are diminished there is no food there is no clean living conditions. The things we take for granted and throw away here is a luxury over there. Who ever you were listening too had no idea what he was talking about. People want freedom from communism and socialism. 60 years under a tyrannical government that takes everything from you
I agree with Adam for once
PBD is correct, you get a couple days to adapt. deliverables due in way less than 90 days. noone cares how much you work, just get it done. usualy day was 5 hours of meetings, 7 hours of atraight up analysis and building slide decks. everyday.
In order to master a skill you have to put in the hours, it's as simple as that.
I agree I run my own business and I can definitely say you learn more doing more hours.
Or the ones that put in those hours can pass the knowledge they learned down so you can save everyone else's time?
I was going to agree with the "executive" just from the headline, but then Patrick said she's in wealth management. That's just silly. I understand working on deals requires overtime, but not WM - that's just for show.
This is offensive? I’m not a graduate but I work 72 hours a week 12 hour shifts on my feet working at Tesla
You also get paid for every one of those 72 hours. OT in fact. Salary employees don't. Some make it back in bonuses. Others get used up and let go.
Ive been asked to join a wealth mngmnt. And take the series tests Im blue collar./ as a realtor in the side. Dunno if its in me.
That’s management - assembly line mentality... Don’t put yourself on the assembly line.
Goldman purchased United Capital. Might of been right 5 years ago but Goldman is trending toward more mid market.
Your "money manager" is paid by the hour lmao
Let the pawns work 72 hours a week While the executives work 4 hours a week…
I'm surprised that wasn't already an expectation??? Finance is not an altruistic career path. You do it for 1 reason and 1 reason only- money.
A truck driver works 70hrs a week and will NEVER make $1M/yr.
Yes he will if he drives for a year learns the ropes and then buys a couple trucks and finance them the 50k ones you dont need a new one and or pay cash and then hire drivers and payem more than average do they're loyal and treated very well and great pay and you make 250k a yearper truck easy so get 1 then 2 then 3 then 4 and your good
@@chris-cy5ed now we're talking entrepreneurship not employment.
This isn't new. It's been like this at alot of places. Most people will work 72 hours for 125k plus bonuses straight out of college
12 hours a shift, 6 days a week lol if you built like a robot you will even make it financially apparently.
Wealth management is nothing more than a sales job. You get a few whales your set and just keep those relationships and collect a percentage of their portfolio each year. I agree it does take time to learn the lingo but the buys sells holds are all just dictated from the top. No real thought needed.
Everybody works at different rates. Some can do the work in 8. If you are satisfied the job is done then an extra 4 hours is wasted
Siesta? A hammock and dancing a little Salsa? Or that's not part of the 12 hours?
Honestly people shouldn't bitch or complain. They know this shit was expected when they signed up and was networking with current employees at the company.
Wow! We were talking 90+ hours a week when I went to B School. Wall Street getting soft?
They better be paid hourly and not salary.
Not after the MOASS they wont lol
there is no birth without pain - Asian Food Nerd
Its JP Morgan...would you really take a job there without already knowing your gonna probably work 12 hour days?
CREAM OF THE CROP!
Time in = growth and money and later wealth
I worked 10-12 hours 6 days a week and it’s actually kind of hard :/
Edit: than again my job had me doing straining physical activities paper work and driving all at random ass times and hours throughout the day.