Dark thoughts

Ignore title - in PE now.

Having a terrible time in PE and I legitimately hate my life. I go back and forth between trying to “power through” until I figure a good exit plan out and just saying f-it and quitting because my mental and physical health have deteriorated so quickly.

I am burnt out and drag my feet even when I take a bite of food or as I get into bed to try and get a few hours of sleep.

I’m just so jaded. How can some of my bosses be such terrible people? Hard to understand how they became this way and how they would be willing to give a s*** after so long. Anyway - I hate my existence, I don’t see a clear way out, and want to quit every single day but need the money and job title until I find a new one. Tough year…

 

Been in this spot before albeit in the more junior level. You are most definitely not alone in feeling this way. 

The way I got out of it was leaving the firm. Tried therapy, drugs, and unnecessary relationships to help put a band-aid over the feeling. None worked out until I finally left the actual firm. So take that how you may. Hope things get better and keep going.

 

Yup agreed with advice above, just get a few nuts 🥜 

 

Stuff like this reminds me that we're all going to die soon 

 

Look into Private Credit

Heard hours are better and comp is solid

 
Most Helpful

This was me a few years ago - I would recommend: 

  1. Therapy - you need an outlet to vent to and it can’t be your friends and family because it’s extremely damaging to those relationships. You can do telemedicine appointments. 
  2. Consider an executive coach - you have to figure out a strategy to manage up with really emotionally volatile and extractive personalities. This is the core skill that is required to survive in finance over the short and long run. Maybe CompBanker could be helpful?
  3. Continue to do service with a smile in front of partners and seniors and devote what little emotional energy you have left to putting on a good show for them - they alone determine your comp and can make your life hell if they don’t like you. You have to be ultra pragmatic this way and focus deeply on getting what you want more than appeasing your own ego. There is nothing more tempting than to act jaded and burned out and passive aggressive with them, but you will not win that interaction because you have far more to lose and they will never admit having done anything wrong with how you were treated. 
  4. Start putting up more boundaries with your VP by just bluntly saying you are at capacity - define capacity for yourself as not working past 11 PM (in reality even with a boundary you will work past midnight, but you can try to cut off some of the flow of requests). This will be uncomfortable and lead to some conflict for sure. It also may not be successful. In the end though you have to reduce the number of sleep deprived nights because the compounding effect will do a lot of damage to your work, relationships, and physical and mental health. 
  5. Start searching for your next gig. It’s okay to want to try another PE firm if you like the job but hate the people. It’s okay to leave the industry (like me) if you decide you need more flexibility and autonomy or don’t like the work. Your experience in PE is valuable from both a branding perspective and professional skillset perspective. The world is your oyster apply aggressively to startups, corporations, VC, lateral PE, HF whatever and just see what starts to sound the most exciting to you. You have a lot to bring to the table and a lot of companies will want to hire you. If you leave finance - $175-225K all in cash comp is pretty much market and what you should expect. After 2 years operating, you can likely find a PE portco c-suite or VP level role that pays $250-300K + equity. 
  6. Don’t push your stress onto your friends and family or vent to them. It will do an insane amount of damage to your relationships and in the end will only make you feel worse. 
  7. Find some small outlet for yourself - could be building lego sets or playing musical instruments or something. Something you can do for 10-15 minutes before you go to sleep each night that isn’t doom scrolling on your phone. 
  8. Plan something fun - yes it will likely need to be canceled but you need something to look forward to. I used to think it was better to avoid being disappointed by not planning anything, but I think the ROI from getting to do one fun thing (maybe a concert) is immense. 
  9. Clean up your diet and try and exercise a little bit (even if it’s just going for a walk). Don’t stress eat comfort foods that spike your blood sugar and leave you feeling more depressed and lethargic. Try to eat something high protein. 
  10. Keep perspective and remember it is just two very bizarre and exhausting years and as soon as you leave the industry your ability to set boundaries and regain your autonomy will immediately come back. This is not forever and you shouldn’t extrapolate about adult life as a whole based on this one frankly very strange life experience that is PE.

Hope this helps a bit. It’s not easy.

 

Thanks for the shout out above. To the original poster: What level are you??

There are two important things to remember:

1 - Things get better with seniority. One of the hardest things to cope with in this industry is being low on the totem pole, and that includes being a VP reporting to demanding senior colleagues. This becomes even more acute when you start to gain a lot of confidence and develop strong conviction for your ideas or your way of doing something only to have it rejected by someone more senior. Fortunately with seniority comes autonomy and, for many people, the soul crushing part of this job is actually the unpredictability and lack of control — be it in their schedule or the deal decision making. The work itself is far more interesting than almost any other office job and the pay is obviously top notch.

2 - It is the people / individuals that make or break the job. Given it isn’t necessarily the work itself that is awful, sometimes the best solution is simply changing firms and culture. I’ve seen some people go from extreme underperformers at one PE firm to a top performer at another with literally the same exact strategy — the difference was simply the culture and what the firm valued. If you find your current job intolerable, the answer isn’t necessarily just leave the industry. Sometimes it is just to lateral to another shop and heavily diligence the firm beforehand to ensure they place value on your key strengths and care less about the areas you’re weak or uninterested in.

One such example: Some PE firms live and die by the financial model. They can be extremely fixated on it and force the junior deal team members to analyze every last line item to the nth degree. Other firms use the model as a ‘guidepost’ and just want it to sanity check their assumptions wherein their conviction stems instead from backing a strong management team.

The solution to your woes could be very simple and you should explore if this is the true root of your problem.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

Seeing in the news this week Toby Keith dead at 65 has been a little jarring for me. I want to do way more before I turn 40 or 50 just in case my time comes before ‘retirement’ age…

I think the obvious advice is to coast while interviewing for a shop with better culture.

I highly encourage you to also do whatever it takes to have two fully unplugged days in a row. If you need to take vacation on a weekend to make it happen, then do that. But take those days and turn your phone off / leave it at home and get out in nature. Can be Central Park just go and see multiple trees somewhere you can’t see any buildings (eg north woods). Think about what you aspired to do as a kid, teen, young adult. Recognize what you’ve accomplished and think about who you still want to become. What troubled you years ago that now seems inconsequential? Who do you care about? Call them and tell them about a memory of you two together. Any one of those could be helpful while you search for a better situation.

Rooting for you man. I have strongly considered ending it all multiple times while struggling to fix a complex medical issue. Anything can be changed for the better.

 

Felt like you did and just straight up quit. I have zero obligations and in this market, the financial opportunity cost to being unemployed may not be as bad (career will ofc take a hit, but do you even want to stay in finance?)

It’s not the work; the work’s really not tough at all even on the hairiest of deals, it’s always the people. It’s not my first rodeo with a bad firm and I’ve realised by now that people are their own worst enemies. Take comfort that unless you’re in a MF or smth, when the hiring market does picks up and becomes hot, smaller, less established firms are going to live and die by their reputation.

I joined (and left) a fairly small but fast growing firm for promises of faster growth / development and it was complete BS. Enough colleagues are also leaving that half of the execution team are probably going to be gone in the next few months. They’re probably not more than 5 years old but I already see allegations of toxic culture and shit progression on WSO. No way to hide a shitty, favourites-only culture.

 

Take a break for a little bit, rent a cabin in the woods for a week, no technology. Read a book. Go fishing. Write. Think. Breathe. I have learned over time that the secret to life is detatchment. Detatchment from trivial things, from trivial people, and trivial thoughts. You have a right to perform your prescribed duties, but know that you are not entitled to the fruits of your actions. Do the deed, without expecting ANYTHING in return and do it as if your life depends on it BUT AGAIN do not expect anything in return. Be a horse with blinders on. Be steadfast. Have faith that you're on a path greater than what you want, a path you will be on regardless of your actions. We work in finance, right. We understand probabilities. Now, think about the probability of you being where you are right now. Everything that happened in past, the probability of each of those mutually exclusive events turning out the way they did for you to be where you are. Very very skim. You change one of those events - where you went to school, what you said in an interview, where you submitted your application for an internship, you spelling the name of the MD wrong in an intro email, etc - and you may not be where you are OR how I like to think of it - you are exactly where you are and would be there regardless of any outcome. All roads would have led you to where you are now. Some things are much much greater than us. Happiness comes from within man. Feel sorry for people (ie your bosses) who wake up with obscene amounts of hate in them. I pity them. Keep moving. Action in inaction, and inaction in action. Hope this helps. Be there for yourself.

 

P.S. By this I don't mean be soft, but like any machine, if you overheat, you're going to go in self-destruction mode. Taking time off doesn't make you soft, it makes you stroner. What Machiavelli said - if a goal is morally important enough, any method of getting it is acceptable - even if that means taking time for yourself. If you want to go the extra mile in anything, you need to manage the burden you put on yourself. 

Our mind is the most complex thing on this planet. As deep as the universe - hence a neuron resembles a galaxy. Even Jordan played baseball for a season, used to gamble, spend time in Florida, etc. Brady used to spend off-seasons in California and played golf there. Messi prays. Find your thing. It doesn't matter if you take some time off, the way you convey the narrative will determine where you land your next role. Taking a month off to travel is not a BFD. Even prisoners get an hour of sunlight a day. Relax. 

 

Every firm should hire enough juniors so that everyone's fairly busy but not completely overworked. That way you don't just feel like every hour of your day is dedicated to constant work, or even if it is, that you can log out at a reasonable time like 9-10pm every evening

 

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No pain no game.
 

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