Is It Worth It?
Monkeys,
As year 1 closes in, I've begun struggling with what I suppose is some sort of quarter life crisis. For many of us in banking, life to this point has been a constant series of "successes"--do well in high school, go to a top college, break into a top group on Wall Street--with the next target being a coveted buyside gig.
Lately though, I've begun to seriously question what the point of it all is--sure we get paid a lot of money, but not enough to become independently wealthy anytime soon--we're still wage slaves busting our ass primarily for the benefit of some other dude's wallet. And on top of that, the work is more often degrading than it is challenging or engaging--which I'm reminded of every time I fill out a working group list or change the font size in a presentation. Even the more enjoyable parts of the job such as modeling are only so interesting once you've done them a dozen times.
Is the buyside really the promised land or just more of the same? I'm rapidly losing my interest in going into PE as all my friends a year or two ahead agree it is basically Banking 2.0. Are hedge funds really any better or will I just be a professional footnote reader making slightly more money for slightly less work?
And what's the cost of this relentless devotion to the rat race? We've all made pretty significant sacrifices to get where we are in life... soon I'll be 23 and I wonder how much of life I'm missing, 22 was spent behind a computer monitor becoming intimately familiar with powerpoint and excel. Is that really the wisest way to spend what is left of my youth?
why dont you spice your life
why dont you spice your life up by fucking some chicks?
Follow the shit your fellow monkeys say @shitWSOsays
heister wrote: why dont you
why dont you spice your life up by fucking some chicks?
agreed
Anal is the new black!
Anal is the new black!
its a pretty simple
its a pretty simple decision
do you want to set yourself up for later in life by making 100k+ out of college
or do you want to live in the moment and make 30k out of college and "not let life pass you by"
(or you could go into trading and then get 100k+weekends...)
id rather spend 3-4 years setting myself up for the rest of my life, personally. although i also took the trading route, mostly so i could still have some semblance of a life...
money is always better than
money is always better than no money
Just saying...
From what I understand in
From what I understand in trading you can make a lot more money, its a lot more interesting, and you actually have a life. Ever consider switching?
oh and may I suggest getting laid cause that just helps with everything.
same thoughts here, have been
same thoughts here, have been wondering about what the heck i am doing wasting my youth behind excel and powerpoint (working out some DD list as we speak). If you work hard (60 hrs a week), you will still get 300k by the time you are in late 20s and early 30s.
What happens after two years of banking, two years of PE, two year of Harvard? What are you going to do afterwards? Senior associate spots are scarce to come by and most people don't get the spots.
If you end up going to corporate or start your own thing, why not do it now? the difference between 4 years of banking/pe and someone who works through his own firm/ go into the "easy" route after 1 to 2 years of banking is that two years of PE money (which is say..600k pre tax and 300k post-tax compared to someone who makes 100k post tax?).
Of course, if you are genuinely interested in PE, then by all means go for it, but I truly believe most analysts don't find the idea of processing DD request and drafting up memos interesting
Grass is always greener my
Grass is always greener my man. Totally understand your thoughts here, I went through the same struggle (and, quite frankly, go through it daily). If you've tolerated it this long, you can handle it for another year. Summer analysts will make life a LITTLE better, and the new wave of first years will mean you're no longer the bitch. Life will improve (how much depends on the group), and it will get a little more tolerable. As to the answer of "buyside," if this is your thought process you need to drop the notion that there is only one way to go. If you end up at a place where you are a financial engineer (read: Excel slave), you're right: life will suck. But if you broaden your horizons and don't just think, "I want to go to the best place, ON PAPER, possible," you might have some luck. I think you need to think about it as the best place for you. What do you enjoy about your job? What do you hate? You need to try to apply this to your next job choice. If you fucking love modeling and could do it 24/7, go to a large buyout fund -- you'll do plenty of that. If you like hopping on the phone and chatting with clients all day, or sales interests you, go to a growth equity shop where sourcing is a component of the associates job. Hate banking but like the idea of business strategy (let's face it -- there's no strategy in banking -- it's just "let's get this deal done")? Go industry. Hate everything about banking and finance? Leave the industry all together.
Thing is, lots of doors open from doing the two year stint, and it's not just in finance. Take a step back, think about what interests you (and you'll likely realize it's not the megafunds where lots of your friends go because it's the "next step"), and pursue.
Ricqles wrote: same thoughts
same thoughts here, have been wondering about what the heck i am doing wasting my youth behind excel and powerpoint (working out some DD list as we speak). If you work hard (60 hrs a week), you will still get 300k by the time you are in late 20s and early 30s.
What happens after two years of banking, two years of PE, two year of Harvard? What are you going to do afterwards? Senior associate spots are scarce to come by and most people don't get the spots.
If you end up going to corporate or start your own thing, why not do it now? the difference between 4 years of banking/pe and someone who works through his own firm/ go into the "easy" route after 1 to 2 years of banking is that two years of PE money (which is say..600k pre tax and 300k post-tax compared to someone who makes 100k post tax?).
Of course, if you are genuinely interested in PE, then by all means go for it, but I truly believe most analysts don't find the idea of processing DD request and drafting up memos interesting
I think there's some security in the IB/PE path: if you took a normal job after college and got an MBA, your dream job after is doing banking or consulting. If you did 2 years at a top bank and 2 years at a top PE firm, that "dream job" of being an associate at goldman or morgan is suddenly your backup.
firefighter: agreed, sort of.
firefighter: agreed, sort of. I think there's security in doing two years of IB, two years of PE if you really think you might be interested, because if you do it and love it, you're good to go. If you do it and hate it, it's a lot easier to go to MBA and hop into corporate development/pick-your-poison than it is to do corporate development, not love it and want to do IB/PE.
Ah, quarter-life crisis. I
Ah, quarter-life crisis. I went through a serious bout last year (which seems to be ongoing). Unfortunately, I think this is what getting older / becoming an adult is all about. Glad other people feel the same way!
Well for what it's worth, I
Well for what it's worth, I look back at the age of 23 and wish it had been spent on the success track. I have found that it's exceedingly easy to become derailed and damn near impossible to break back in. I am not old yet, but I am not young anymore and I can offer this: bust your ass while your young so that you can relax a bit as you age. The grass is always greener, so unless you find something you want to do MORE than finance AND you are good at it just stick with it: you'll thank yourself when you get older.....and by older I mean 30 / 35.
That and seriously, go out and get laid.
I just had my first UFO experience.
I called my wife fat while we were making dinner.
Flying saucers everywhere XD
I plan to fuck a 19 year old
I plan to fuck a 19 year old blonde tomorrow after work...say 6pm? I'm doing karaoke with friends on Wednesday, have another social gathering on Thursday, and have a date with a different girl on Friday (even hotter than tomorrow's). This is a typical week (btw I still work 60+ hrs a week, sometimes more, but I can mold my work around my social schedule, and that's the key).
I couldn't go back to PE (nevermind banking, which I've never done) if you held a gun to my head...(and btw, I'm not making as much as in PE doing what I do now...at least...not yet; I def will at some point lol)
I went through the same thing when I was your age...stuck at work thinking..."this isn't success, I don't care what anyone says, this path sucks". I had this picture in my head of what I wanted my life to be. I wanted to be my own boss, make shit happen, eat what I kill, and retire in my 30s. I decided that I would have that life, or die trying.
Most people have zero balls when it comes to their careers. Well, I got news for you, life is what YOU make it.
You're obviously not happy. Quit your job, take a couple months to discover what it is you truly want to do, and do it. I can't guarantee you'll make more money or be as "successful". But...I CAN guarantee you that, if you don't listen to my advice, many years from now, when you're dying in your bed, you'd give it all back for just one chance to follow your dreams, whatever they may be.
www.jetcigs.com - Use coupon code WSO30 for 30% off
firefighter wrote: Ricqles
same thoughts here, have been wondering about what the heck i am doing wasting my youth behind excel and powerpoint (working out some DD list as we speak). If you work hard (60 hrs a week), you will still get 300k by the time you are in late 20s and early 30s.
What happens after two years of banking, two years of PE, two year of Harvard? What are you going to do afterwards? Senior associate spots are scarce to come by and most people don't get the spots.
If you end up going to corporate or start your own thing, why not do it now? the difference between 4 years of banking/pe and someone who works through his own firm/ go into the "easy" route after 1 to 2 years of banking is that two years of PE money (which is say..600k pre tax and 300k post-tax compared to someone who makes 100k post tax?).
Of course, if you are genuinely interested in PE, then by all means go for it, but I truly believe most analysts don't find the idea of processing DD request and drafting up memos interesting
I think there's some security in the IB/PE path: if you took a normal job after college and got an MBA, your dream job after is doing banking or consulting. If you did 2 years at a top bank and 2 years at a top PE firm, that "dream job" of being an associate at goldman or morgan is suddenly your backup.
you want to do banking as your backup? man you are a machine...
alexpasch wrote: I plan to
I plan to fuck a 19 year old blonde tomorrow after work...say 6pm? I'm doing karaoke with friends on Wednesday, have another social gathering on Thursday, and have a date with a different girl on Friday (even hotter than tomorrow's). This is a typical week (btw I still work 60+ hrs a week, sometimes more, but I can mold my work around my social schedule, and that's the key).
I couldn't go back to PE (nevermind banking, which I've never done) if you held a gun to my head...(and btw, I'm not making as much as in PE doing what I do now...at least...not yet; I def will at some point lol)
I went through the same thing when I was your age...stuck at work thinking..."this isn't success, I don't care what anyone says, this path sucks". I had this picture in my head of what I wanted my life to be. I wanted to be my own boss, make shit happen, eat what I kill, and retire in my 30s. I decided that I would have that life, or die trying.
Most people have zero balls when it comes to their careers. Well, I got news for you, life is what YOU make it.
You're obviously not happy. Quit your job, take a couple months to discover what it is you truly want to do, and do it. I can't guarantee you'll make more money or be as "successful". But...I CAN guarantee you that, if you don't listen to my advice, many years from now, when you're dying in your bed, you'd give it all back for just one chance to follow your dreams, whatever they may be.
I think you just inspired me to quit my job
I'll say this one more time,
Dude you just have to learn
That whole "set yourself up
People tend to think life is a race with other people. They don't realize that every moment they spend sprinting towards the finish line is a moment they lose permanently, and a moment closer to their death.
I've had those thoughts and
Do what you want not what you can!
NO, thats why I'm in
IVY for Life
I don't know how to feel
I know I'm going to regret
alexpasch wrote: I plan to
turtles wrote: money is
For my aspiring Entrepreneurial Nomads, check out my blog.
A lot of my friends in IBD
PE isn't the only option, nor
brooksbrotha wrote: PE isn't
The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee
WSO is not your personal search function.
i've thought, and continue to
All you newbies take this
awm55 wrote: All you newbies
thor1000 wrote: awm55
Yea indeed I am on Prozac as
Alexpasch, you are my
Two years of life to be in
I just had my first UFO experience.
I called my wife fat while we were making dinner.
Flying saucers everywhere XD
UFOinsider wrote: Two years
Mfsl27 wrote: Alexpasch, you
www.jetcigs.com - Use coupon code WSO30 for 30% off
can you set yourself hours
Ricqles wrote: UFOinsider
I just had my first UFO experience.
I called my wife fat while we were making dinner.
Flying saucers everywhere XD
UFOinsider wrote: Ricqles
futuretrader1999 wrote: NO,
I ask myself if the analyst
Ricqles wrote: alexpasch
The real question is, what
someotherguy wrote: The real
Following this thread really
I think it's worth it if you
Great thread
TheSquale
zeropower wrote: Great thread
This is for the guys who are