Given my career options, shoud I kill myself?
Im a May '06 grad from a non-target. I make a hair under $60,000 a year as a financial analyst for a F1000 company. I put in a 35-40 hour week, factoring in that I go to the gym for 2 hours on my lunch break 4 out of 5 days during the work week. I dont go on the 5th day because I play on a sports team that meets regularly. I scored 700+ on the GMAT, and am filling my evenings with activities that will boost my bschool resume, such as volunteering to coach a youth sports team. I plan to tutor the GMAT part-time, which will most likely push my salary to almost $70k and my hours to a ball-busting 50 a week.
NOW, that said, I cannot get into ibanking. I have tried. I didn't apply during school. I have applied at several boutique (crap) banks recently with no responses/interviews. Like I said, I am from a non-target with a 3.3 GPA. My current job does not require an intelligent bone in my body. My work is meaningless, with no deadlines, and noone who cares whether I get it done today, next week, or even if its done right.
The question is, should I be happy with my current life, or discontent because I am not an ibanker? Like all the other early 20's people on this forum, I have no kids or wife, no mortgage to pay, and am not about to make the "work-life balance" career choice. I am trying to further my career as much as possible, and will sacrafice a lot to do that; I just dont have the opportunity to.
Im hoping for an overwhelming majority to say I should push one way or the other, because I am completely torn right now and I switch my opinion from week to week. Any advice is much appreciatd.
Almost to the T, same position as you.....any advice would help
When you're 80, will you regret not having done everything you could to make the switch? Or do you see yourself being content with the life you led (the one your current path leads to)? Just think about the tradeoffs.
If MBA you might be out of luck. If undergrad get the next best thing, kick ass while you're there, then go target MBA and you're fine. Non-target you can still do it.
Was in same position as undergrad(waited too long to interview + bad market=no IB job).
Sounds like you lead a pretty sweet life, don't get down on yourself
Your post is unclear as to whether you are a undergrad or MBA degree holder. It's very hard to get into an analyst position outside of campus recruiting. Best bet to get into banking is to get your MBA and go in as an associate. If you are post-MBA, there is slim to no chance you will be hired. Next best bet would be to become an industry expert by rising in a field and then move into a banking industry group at a much higher level in 20 years.
All that being said, what I wouldn't give (at the moment) for a dull job. I'm coming off five weeks of 100+ hours, not even half a day off, with no end in sight - and I'm an associate, so old and lazy. I feel tired and sick all the time and generally very unhappy. Taking a slow job in a cheap real estate market looks good right now, but at the end of the day, I'm greedy and still think that money causes happiness, so I'll keep soldiering on.
Sorry, I am undergrad. Listing my GMAT would be a little pointless if I was an MBA grad, and I hope most MBA grads with 700+ GMAT make more than 60k, but I still should have clarified.
Thanks for the responses.
Chicago, the main difference I see between what you and what I do is not the hours, but the quality of work. Its not just that you WORK 100+ hours, but people NEED you to be at work. I would love for someone to NEED me to be at work. That, right now, is what I feel I would enjoy the most about banking.
I know someone who is also in a similar position. My advice to him was: Try to get into the best MBA program possible. In your spare time, try to do something quantitative that demonstrates an interest in finance. Challenge yourself and be sure that the current work you do is top quality to ensure good recs. I think the most painful part of the process is the fact that you have to wait and gain experience. It is frustrating wanting a career change and not being able to have it -now-
Hey, This is the best time to challenge yourself and stop complaining. Trust me dude. I wish I was in your shoes right now. I would be trying to figure out how I can start a business with my spare time (and it seems like you have lots of it). You are getting paid and you don't even have to work. I would really love to be in your position. If you still want to get into i-banking though, I think going to a top MBA would probably help you achieve that goal.
Just my $0.02
There are plenty of people in this world who would kill to have your life.
To be honest, you have nothing to fuss about. Seriously...you're not even a year out of school and you're already using your "quarter life crisis" card. You should really save that quarter life crisis for something more meaningful...such as realizing no one loves you...or your drive to succeed has alienated you from your friends and family.
I suggest you kick ass at your current job and get top reviews. If you hate your job that much, target blue chip companies that have top notch training/rotation programs.
You should have little trouble gaining entrance into a top 10 business school in three years. From b-school, you can transition into banking (if that is what you really want).
Thanks for the good advice. And im glad its at least all one sided.
I definitely agree with CompBanker's comments. That all hits home and supports other advice I have been given.
Ive considered trying to start my own business, but will need to wait at least 2 years for a bit of capital. Even a colossal failure of a business would probably look good on a resume.
I certainly am aware I need to excel at work for the good recs I will need. And I am aware there are people in this world who would kill for my life. Lots of people, maybe even an analyst or two. But lots of people would kill for probably ALL of our lives. Its all relative.
Im not seriously contemplating suicide, but it did make you read this thread. ;)
if banking is what you really want.
There's definitely something to be said for "work-life balance", but it's not for everyone.
Before my MBA, my jobs were interesting for the 1st month or 2 and then I got bored. Money was decent for someone my age, especially considering I was in the office 40-50 hours a week and spent a good chunk of that screwing around and still being more productive than my peers.
But I knew I would be get more and more frustrated over time. I would want more money, more challenge, etc. So I used my screw-around time at work to apply to Business School. That did the trick and I got my banking job.
I have more money and more challenge for now, so that's cool. But if I ever decide I miss the old "regular job" I doubt it would be a problem to go from I-bankers to a regular job. But it's much harder to go the other way (as you have already found out).
I will point out one difference between you and me.
You use your free time for volunteering and working more. I was traveling and getting drunk. Trust me, if you do become a banker, you're gonna wish you had had more fun when you had the time ;)
A few suggestions: Enjoy your job and free time now. Work in this role for 2-3 years and try to go to the best MBA school you can.
With a couple solid years of experience and a good MBA you should have a great shot at an associate level position.
In the mean time, don't fret. You are making good money, especially considering the hours.
Make getting into a top MBA your primary goal, but don't miss out on any networking opportunities you have within the company.
Yeah. The MBA route is the way to go if you want to switch careers. You could also consider doing the CFA exams just to get a better picture of finance. In fact, that's what I'm doing right now.
I agree about the CFA exams, this will certauinly help you further...
killing self isn't always a bad idea
what the fuck are you complaining about man. you're chillin. in 4 or so years youll be at 100k. youll be doing good. roll with it man. especially if you're in a place like la or orange county. if ur in NY i can kinda see how that sucks and if youre in the midwest that really sucks.
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