I wonder why the jobs demand such long hours. Where are the deadlines coming from? Is there something in the banking sector that necessitates this level of pressure and work hours or is it a problem of the "partner-model" where a lot of people are hired at lower levels and then the carrot of "becoming a partner earning big bucks" is dangled in front of them to make them work like mules and then take the ones who survive?

My knowledge of the banking and consulting industry tells me it is the latter although someone from inside can correct me if I'm wrong.