Wall Street Fashion: The Ultimate Guide to Luxury Watches
There are plenty of fashion status-symbols on Wall Street, from gilets to golf course merchandise, but few are as iconic as a luxury watch. Wearing the right one can go a long way in influencing how you’re perceived by those above you on the ladder, but the wrong watch can have an equal, opposite effect.
Should you wear a watch to an investment banking job interview?
At the risk of being perceived as a nepo-baby, is it worth wearing a fancy watch when making your first impressions? One ex-analyst at an investment bank in New York says “most juniors in banking tend to stay away from higher-end watches due to both the cost and the perception.” The majority do wear one, but they’ll usually opt for “smartwatches like Apple Watches and Fitbits, or more mass-produced pieces from brands like Seiko.
An investment banking salesperson said he used to have a “lucky watch” that he would wear during interviews for his first job, but said it was “nothing fancy at all.”
If a junior banker is wearing an expensive watch, the analyst said it’s “typically a Rolex, one passed down from a family member” that may or may not be a client. If you’re one such Rolex owner, researchers have advised that you wear it in interviews, despite the connotations, because if you start wearing it after you get the job it might create even worse connotations from senior staff assuming it’s a new purchase.
When is it appropriate to start wearing expensive watches in a bank?
Once you get to the VP level and up, luxury watches tend to become more common.
“Rolex is by far the most popular brand, with the DateJust and Submariner appearing most frequently,” the IB analyst said. “Rolex’s stainless-steel GMT models are also quite popular, and occasionally you will see a Rolex Daytona, but these are definitely rarer than other Rolex models. Outside of Rolex, popular brands include Panerai, IWC, Omega and TAG Heuer.
One reason to wear a moderately expensive watch (that doubles as a humblebrag) is when that watch has been gifted to you by a more senior colleague. One user of The Bubble, our new anonymous community, said that his favourite showpieces are “mostly gifts from people who are watching me in my career.” These gifts have come from some of the brands above, as well as Movado, Longines and Cartier.
Extremely senior bankers with a passion for watches may sometimes wear Patek Philippe, Audemars Piguet, Jaeger-LeCoultre, Vacheron Constantine and A. Lange & Söhne. “These are by far the rarest choices, largely because of the astronomical cost, as well as the relative obscurity of some of these brands for those who aren’t watch-aficionados.”
Below is a rundown of suggestions for which watches bankers should buy at various rungs of the ladder on Wall Street, based on previous conversations with a range of bank staff.
Watches for investment bank summer analysts/interns
An Apple Watch is the default accessory for many banking interns. Others mentioned the Casio G-Shock (ranging between $90 and $6,500), but those don’t garner respect from old-school senior bankers. Alternatively, if you want a watch that doesn’t cost the earth but will garner quiet respect, you could try the Seiko SKX007 (~$400)
Some bank interns raved about $400 Daniel Wellington watches, while another said he’s gotten compliments on his rose-gold Hamilton Jazzmaster Viewmatic Auto ($945). Others suggest dive watches from Squale ($600 to $2,900) for something a bit different.
However, you may need to spend more than that to stand out from the crowd. Step up your game with an Omega Seamaster ($3,500 to hundreds of thousands) or a stainless-steel Rolex Oyster DateJust ($8,000+).
Watches for investment bank full-time analysts
One former IB analyst, who said he doesn’t get caught up in the office fashion competition, noted that watches with “leather straps” were increasingly common when he was a junior, and that he spotted peers in an Autodromo Chronograph ($500) watch and another wearing a Breitling Avenger ($5,700 to $11,300). Plenty of analysts wear a Fitbit or another activity tracker, especially as dress codes get more casual.
The most watch-conscious analysts go for the Rolex Submariner ($11,000), which is popular among second- and third-year analysts but also impressive enough to last you at least a promotion or two.
Analysts going into their second or third year have the opportunity to splurge on a more expensive watch with their bonuses (which averaged $66k and $88k, respectively, in the previous bonus round). One Bubble user said they spent their first bonus on a Glashütte Original SeaQ ($17,800)
Watches for investment bank associates
One cocky IB associate said he likes his Tag Heuer Grand Carrera ($3,000 to $9,900), which BlackRock CEO Larry Fink also wears, but it’s not a slam-dunk choice for a junior banker.
A Rolex Seadweller ($20,000) and a Blancpain Aqua Lung ($9,400) are both safer – albeit significantly more expensive – bets.
Watches for investment bank vice presidents
An IB vice president at a major Wall Street bank touted the Panerai Radiomir ($5,000+).
The Rolex Daytona ($16,000), which Morgan Stanley CEO James Gorman and UBS CEO Sergio Ermotti both wear, is incredibly popular among investment bankers, especially VPs – or you can go with a Vacheron Constantin Overseas ($25,000) or a Panerai Luminor (ranging from $5,900 to $274,000).
Watches for investment bank directors/executive directors
An IB ED said he went for a Glashutte Senator Skeleton Dial ($40,000), but he doesn’t wear it every day. He still has a Submariner that holds sentimental value for him.
At this point in your career, the pressure to put yourself on the path to make MD is intense, so consider splurging on a Breguet Classique ($34,400) or a Jaeger-LeCoultre Master Control ($32,600).
Watches for investment bank managing directors
A Wall Street managing director said that his favorite luxury watch brand is A. Lange & Söhne. ($26,000+)
As an MD, you can’t go wrong with a Patek Philippe such as the Nautilus Chronograph ($146k) or, if you want to walk the line between ostentatious and classy, the coveted Perpetual Calendar ($195k).
Watches for investment bank partners/executives
If you reach this level, you won’t need to impress anyone. For example, Goldman Sachs’ current CEO David Solomon often sports a Shinola Runwell Chronograph (ranging from $900 to $2,100). Ex-CEO Lloyd Blankfein wears a Swatch (from $65 to $335). Some big-wig bankers, including J.P. Morgan boss Jamie Dimon, don’t wear a watch at all.
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