Just Quit Investment Banking
I was one of those high school seniors that posted on WallStreetOasis in the ye olde days when it was known as ibankingoasis.com, and well, despite my earlier enthusiasm for the job, I decided to quit this week.
I wanted to both share my story and get some guidance/perspective from the community.
Me:
Top bucket second year analyst at a large investment bank (RBC, Wells, etc) in one of their best groups. No buyside offer, but was in later stage interviews with a few large, well-known hedge funds. A few older analysts have placed well, and I was not concerned about my exit options.
Why I Quit:
The job wasn't fun and I wasn't happy. It wasn't to the point that it was unbearable, and last week wasn't a particularly bad week, but I felt that the job was beginning to change me as a person. I used to salivate at the thought of working on live deals, particularly deals for large, well-known companies, and well, after closing north of ten deals, you learn that a deal for a $1 billion EBITDA company isn't so different from a deal for a $30 million EBITDA company. It's all the same steps, and the smaller client isn't necessarily less demanding. In fact, they might require more hand-holding due to their lack of financial expertise. I was irritated and stressed. I would wake up and say to myself "F*ck. Another day?"
Speaking to associates at larger funds, their lives weren't much better. Sure, their hours were better and their pay perhaps double mine, but when their MDs said jump, they would still ask how high. It was far from the lifestyle I wanted. Reassessing, I don't need very much money to be happy. Afterall, I'm 23. All I want to do is have fun, meet people, explore the world and try not to become someone's father anytime soon.
Still, I believe that banking is an excellent first job. I've learned a lot, not just how to number crunch, but how to deal with rich, old men (clients, believe it or not, analysts do interact with clients), handle demanding and often times unreasonable bosses, and navigate my way through the corporate jungle.
Post-Banking:
I feel great. My health is returning. The dark circles under my eyes are slowly fading, and it is nice to see the daylight again. I've been catching up with friends and going to the gym for two hours each day. My only "work" nowadays is reading 4 Hour Work Week.
Currently, I am considering startup ideas or perhaps joining a startup. Anyone have any interesting suggestions on what to do? Sorry for the longwinded post. Just trying to figure out life after banking.






sounds like how I feel after
sounds like how I feel after four months on the job.
get married and have twins
get married and have twins ASAP
Boston Startup School and
Boston Startup School and join a startup
how about the drug trade?
how about the drug trade?
How many savings do you have
How many savings do you have lined up? How long of a cushion do you have before you have to go back into the 'jungle' again? Or would you say you're just past that part now?
tmur: how about the drug
how about the drug trade?
Op are you in Baltimore? Ever since Marlo left the game there's been serious unmet demand in the West Side. Salary is great, downside is that exit ops are death and prison.
well that was a little
well that was a little demotivating, but congrats
Moneyball
See my other WSO blog posts
Most analyst stints are two
Most analyst stints are two years. My guess is you quit before getting laid off, a good move in general.
I've seen lots of ex-Analysts getting into consulting (Mckinsey, etc)
"The future isn't what it used to be "-Yogi Berra
"Perhaps you've failed to take into account my hidden assets"-007
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Congrats....I need to do the
Congrats....I need to do the same....
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Congrats on quitting IB and
Congrats on quitting IB and pursuing something you actually want, lots of ppl don't have the courage to do that. From your description, I sound like you in highschool at the moment (get hard-on for ibanking). I wonder how this will turn out ..
Congrats on your decision, I
Congrats on your decision, I think you gave a very mature reflection and assessment of your time in banking.
Don't take this question the
Don't take this question the wrong way, so how does it feel to shatter the goal you've strived to achieve for the past four years?
Let me know if I can suggest
Let me know if I can suggest particular startups for you, I work in vc, which means 30% chance I recommend good ones.
job wasn't fun, good reason
job wasn't fun, good reason
So you're jacked now?
So you're jacked now?
just a word of caution as i
Good for you. But is there a
You could always teach math
Good luck to you and keep us
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In The Flesh: Good luck to
How many other young bankers
robofnapa: Let me know if I
Best of luck to you OP.
No pain, no pain.
MarkusFenix: In The
monkeyc: MarkusFenix: In
Culcet: monkeyc: MarkusFe
"Now watch this drive." -W.
Do MBA. That's what a lot of
just left PE after two years
Best of luck! Glad you're
Congrats on your decision.
Hey man! I can totally relate
.
"There are three ways to make a living in this business: be first, be smarter, or cheat."
Okay this f***** embed won't
"There are three ways to make a living in this business: be first, be smarter, or cheat."
Feel free to PM me if you're
*Puts on red shiny shoes in
Contact incubators. Do a bit
Aei ho theos geōmetreî
Have you thought about
I've done it for 5-6 years
guts: Still, I believe that
Founder of GirlBankerDotCom, Author of To Become an Investment Banker
officer farva: sure you can
Founder of GirlBankerDotCom, Author of To Become an Investment Banker
[email protected]: Hey
Yes sir!
I feel the same way in my job
It's not the size of the dog in the fight, but rather carry a big stick; you will go far.