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Unfortunately, it does get better but not that much - you will still work long hours throughout your analysts years. Two reasons: because the work is non-divisible and because work patterns are unpredictable.

When you become an associate, the workload is slightly less, but you have a higher responsability so what you loose in working hours you gain in stress!! - Non-divisible work means that adding more people to the work won't speed things up. It is not possible to have many people working on an excel model at the same time.

It is related to the working style of the team head (some bankers can be more easy going, especially UK and some European bankers) , and also of the deal flow of the specific team.

If the team is very successful, that will mean very long hours but if you end up in a team that only closes one or two deals per year, you'll have a more relaxed lifestyle.

Except for the assumptions and maybe some basic headings, the file will be totally blank.

- The situation: working hours are usually better in economic downturns, when you are not working on deals, and also during the summer and around Christmas time. When you are a fresh graduate, you will spend a lot of time learning the ropes, so you will stay late.

That is simply because clients are not active, which means less meetings. Also, you won't have anybody below you (except interns) to share the workload.

The models given are usually very complex with a very short time allowed for completion.

The most common type of test will happen like this: - You will be seated in a room alone with a laptop, with only Excel on it.