I have a dilemma - investment banking has been bad for my physical and mental health. I went through a period where I was still turning up to work but where my health was making it really hard for me to do much, and my performance reviews went from fantastic to unsatisfactory.
Since then, the work I've been assigned is much less interesting than my peers, and I am developing no skills. I've also noticed that I have been treated differently by my manager in the aftermath of this period.
I'm trying to figure out my next steps. At present, I am considering resigning without another job lined up, because at least then I'll actually get to look for another position (outside of banking), and my health can improve.
So, would you quit now, stay a little longer, or stay throughout the analyst stint?
I'm worried that if I quit now, I'll be less employable because I haven't finished enough time. I'm worried that if I stay longer, my health will get even worse like it did before. I can't imagine finishing my analyst period, but I'm wondering if recruiters won't consider my applications seriously without more experience.
Has anyone seen colleagues who have left before the end of the analyst contract? How have they fared?
Have something lined up before you leave.
Had a guy leave from my class under similar circumstances, he bounced around for 6-8 months before he got a new gig. Dont know how much of that was due to a lack of motivation and how much from not being able to lock something down.
I've had multiple of those things happen. One of the doctors I've been seeing has offered to write a medical certificate so that I can't work late, but I know that if I submit that to my boss, I'll just get fired.
I've been speaking to recruiters for the past few months, and I've gotten to a few final rounds, but I've decided that the roles aren't what I'm looking for, and in one case I ultimately didn't have the background they needed. I've been disheartened so far by the job search, and scheduling interviews has landed me in trouble with my boss multiple times.
I don't think they can fire you for that...unless they want to get sued...
Have you tried talking to your manager? Is there any sort of flexibility where you can find a better work/life balance?
dude, get real here, a company cannot fire you for submitting a medical certificate. Do it through HR and you will be fine. Obviously, it will likely damage your long-term prospect with your firm, but it's not like you want to stay anyway so take the reduced hours until you can find something else. Having a job makes you a much more attractive candidate.
I went through something similar when I was an analyst and ended up getting a medical certificate for reduced hours and was pretty amazed by the support I got (it helped that my group head's wife had a similar issue and it was a big driving force in leaving her partner position at a top law) and ended up getting my PE job through a recommendation from my MD.
Give your company the written medical certificate. Hope the fire you. Then sue them and get a nice pay off to last you a few months as opposed to leaving with nothing.
what bank are you at?
Probably Deutsche lol
could be GS
Dude, it it's deteriorating your health, there's really no debate here. You have to leave. Think about it, at some point you'll be put on leave for poor performance anyway. You can't work with poor health, because it's physically impossible.
Also, don't be so picky. Health should be your number one priority. Make sure the job comes with a solid health insurance package, something with regular 40 hour per week expectations, and with a good number of travel and sick days. You might want to even get a job in a low stress city. Those should literally be your only concerns. Health requires time in the gym, lots of rest, low stress, and healthy home life. Why would you think about anything else in terms of looking for your new role?
+1. Had health deteriorate during college and would have much better to take a year off.
Same here. I ignored my health issues for years (undiagnosed lyme) and now I'm disabled. So there's that for perspective. I was seeing a number of doctors but never getting the right answer. can't help but to think if I had taken time off earlier to focus exclusively on health this wouldn't have been such an issue
Very level headed answer, I agree. I feel like often people just live to work and are willing to sacrifice things (including health) just to make money or other reasons that arent as important in the long run. What good is all that money if you arent healthy enough to enjoy it? There's nothing wrong with admitting banking isnt good for you as a person and switching to doing something else that can allow you to enjoy life a bit more.
Leave immediately....there is nothing in this world (besides maybe your kids or family) that is worth risking your health for. Your body is telling you something, be smart enough to listen to it before you develop long term medical issues.
1 - Assuming you haven't already done so, go see the shrink and general med doctor, make sure there is no major underlying issue 2 - try to find another job before leaving 3 - Start upping your performance now knowing you are on your way out as motivation 4 - request a reference and/or a letter of recommendation from as many coworkers and managers as possible, when you resign, mention that it is with the best interest of the firm and yourself in mind. Be sure to be grateful for the experience and what you learned during your time there. 5 - take some time off between positions to get your shit back in gear
I like all of these, and #3 seems like it would help your health, frankly.
Speaking from the outside as a non-banker - no one is going to hold it against you if you decide you don't want to put up with that shit long-term.
Yeah start talking to a therapist, especially one that has professional development as part of their skillset.
They exist, I know.
If you're having health problems, you should leave asap. Working at a hospital, I am partial to working in healthcare. You get to actually contribute to human lives so you feel relatively fulfilled at work, the benefits are amazing from a medical insurance standpoint, you should rarely over 50-60 hours in a week and that is during the busiest time of the year. Bottom line, it comes down to taking care of yourself. You need to put your wellbeing above your career. What good is exiting to PE after a full 2 years if you are miserable and feel like shit?
It's difficult/impossible to give advice on health online, but here is what I'd recommend:
This is unless your health is so bad that you cannot work 35-40 hours a week. If you're at that point you probably should just resign and take care of yourself first.
Are you at a big bank? Have you looked at transferring to a less stressful division in the same bank? A guy in my class got burned out a few months in and it was killing his health so they let him transfer to the COO office in a more strategy type role with 9-5 hours.
Otherwise look into commercial/corporate banking if you love finance. They make good money but still work very reasonable hours.
Seconded on the vitamin D. Seasonal depression isn't just feeling sad.
Try grabbing your space between your legs. What do you feel? Suck it up, you have it better than 99% of the world.
Can't offer advice but I think it would allow others to give better advice based on you clarifying:
Are you a 2016 grad and 8 months into your analyst stint
Are you a 2015 grad and 1 year and 8 months into your analyst stint.
Sounds like you're a 2016, but if the latter than just grind it out.
It's really tough to look for a new job while you're currently employed, especially if you're working long hours with tough deadlines.
I quit my last job with nothing else lined up, knowing they'd put me on gardening leave, so I could spend some time interviewing. As a result I found a great job that I really enjoy within two weeks and my manager actually said one of the reasons he hired me was because I had the balls to just quit the last place.
It's a risk, but it can pay off.
Be an underpreformer, collect your checks, wait out the two years and work on your interviewing skills. You'll be surprised with how much you can get away with without being fired.
I was in a similar position at one point, my performance was fine but my health was shot, I lost serious weight, etc. Given where I grew up and the attitude of folk there, it was engrained in me to push through or die trying. Ultimately, only resulted in 2 emergency department trips but the young human male body can recover exceptionally quickly. I surrived, but I don't recommend that approach, but just giving you a different perspective.
Time to check out and start interviewing elsewhere. Submit the medical receipt then they basically can not fire you. Then you collect paychecks while looking for better jobs on the side.
no company/bank is dumb enough to fire you if you have a medical certificate. If anything, they may be more supportive given you performed well prior to the medical issue.
bankers are generally cold hearted mfers (semi-joking) but if you are honest, transparent and most importantly be straight up, you may receive unfound support like you never imagined.
I feel bad for the bankers... I don't talk to this guy but he works in M&A at my firm and he's fairly junior... Stays late as hell ~ 10pm... I don't know how you guys do it.
10pm is early
Dude, usually I tell people to suck it up and work hard as it will all be worth it. And SOME level of health deterioration is to be expected in banking (I put on 25 lbs, lost considerable amount of hair, developed a sleeping disorder, had heart palpitations, tendinitis, blood pressure issues, etc). If you are close to the edge, take drastic steps to take care of yourself now:
Now as someone else mentioned you should keep collecting your paychecks at your bank, for several reasons:
That said, start leaning on your support network for advice and start planning your exit from the bank immediately. It sounds like this job just isn't for you, and there's nothing wrong with that. It's a fucked up existence, and it's only worth it if you can make it to the other side without too much damage to yourself. I've been out of banking for a few years now and I still feel the damage of working in finance (it's probably gotten worse since my current job is by no means easy on the hours / stress). I've started to realize that money stops mattering after a certain point, and that point is reached very quickly. It's very hard to get your health back, so take care of yourself.
Good luck, bud.
Do you know what, precisely your health issues are? If not, I would suggest a medical leave of absence for 6 months. Get a concierge doctor and do a very deep investigation
My good friend had a similar experience in banking. She was a really smart girl with a 3.9 GPA and was at a top bank. She got to a point where she attempted to commit suicide a few times. She had to go on medical leave and then quit her job anyways. She went through serious and intense shock therapy in a rehab facility. Bottom line - your health is so important - and you should definitely 100% resign if you feel its important. She has permanent mental damage now and it will take her years and years to fully recover. It is 100% not worth it.
Also - don't beat yourself up about it - its okay if banking is not for you, it is okay if you are feeling this way, it is okay if your performance is not amazing. You are still a smart, brave, worthy and unique individual with incredible potential to do good in the world. There are so many roles out there and so many ways to live life.
That being said - it takes a while to find another job at a junior level if you leave without another job. It took my friend an entire year and she ended up in Risk Management. Unforgiving brutal market. So try to get good references and leave on good terms - references will be critical.
I will pray for you. I am sure you will be fine, hang in there. You are not alone.
My group has a history of firing analysts before the two years is up, without being mandated to make cuts across the division. Would that change next steps?
Life is too short. Pursue what you are passionate about. When you love what you do, you'll naturally outwork your counterparts and on the contrary, if you don't like what you do you will never fully enjoy it and fall short of the competition. Your question shouldn't need to be posted on a web forum, take care of yourself and make a life worth living that you fully enjoy. You've got this man.
You've got some solid advice so far and completely agree with submitting the certificate to HR to create a lifestyle that is suitable to your needs while you look for your next gig.
Health is above all tbh. It's something so many of us take for granted.
If you have health issues, leave as soon as possible. No job is worthy of deteriorating health regardless of how much you get paid.
I think the best thing to do is have an honest direct conversation with your boss. If they don't listen to your health concerns, then just stop trying so hard at work without being explicitly insubordinate. You'll be on the path to a layoff but that will buy you time and energy while you look for something else. Worst case scenario you at least end up collecting a nice severance check which you wouldn't get if you just abruptly quit
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