2021 Analysts, do you plan on staying as a2a?
To all the analysts that started this past summer, did the recent comp increases change your mindset on staying in banking vs going to the buyside?
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Why wouldn't you ask this in the IB section? You'd probably get way more replies.
Not sure yet on A2A, but I’ve ruled out PE. Not worth it.
Why?
If they see their long term career outside of PE/HF, it makes a lot of sense. IB associate will get paid more than majority of PE (esp given recent comp bumps, doubly so if at an EB). Plus, as A2A you’ll likely better able to predict your workload more (never perfectly of course but weekend work is less soul crushing if you knew better than to make plans).
1 or 2 full IB associate bonuses can be a pretty nice parting gift before you pivot to a more sustainable job
Unless I’m in a place with terrible culture I don’t see the point in starting somewhere unknown all over again at the bottom for marginally less pay and just as much work. It makes no sense. The only rationale is you get to know be an “investor” and now your work is more meaningful apparently. Sorry but you’re still a cog in a machine spitting out process and output for the minimum market rate they can get away with paying just like anywhere else until you get that magical carry.
Based af, exactly why I'm leaving soon. 2-3 years as an associate in IB to rake in a few fat bonuses and then off to something ~40 hrs a week (understanding I'll see my income drop ~60%) so I can spend my other 40 trying to build shit.
Exactly, I think this mindset is becoming very common now. Stick it out for a few bonus cycles in banking and try to strike gold in something on our own later on. The key is just what outside venture will bring such success?
Either way, gone are the days where PE is seen as a golden ticket or kids stress about on-cycle. There are too many alternatives nowadays. You either want to grind it out like a monkey and get that big ASO paycheck or be your own boss and pursue freedom on your own terms. Straddling the fence is a useless endeavor. Put it all out there you live once.
If you're really trying to jump back into IB, the bank I'm working at is hiring associates. PM if you're interested, happy to provide more details. Apparently my bank pays slightly above street, but haven't been working long enough to see a bonus cycle so can't confirm for sure
So you'd rather do A2A than be a PE Associate?
Wrong forum?
Absolutely not. Seeing my associates stay in the office til 2-3am on the regular and sometimes working straight through the weekends, all while handling inane comments / personalities from both management and senior bankers makes me realize this is job something i personally don't jive with. Not to mention the lives of the VPs seam to be only marginally better too in terms of WLB, which makes me question the sustainability of this job as a long term career
Completely realize some people thrive in this environment and love the work but realizing this probably isnt me so will most likely look to exit in 2 years, if not 1
right there with you. Glad its not just me who shares this view. Any idea what you plan to exit into?
For sure - have spoken with lots of people within my group / class and this actually seems like the plurality perspective. No idea what I'm looking to exit into... feels like there's still this pressure to pursue PE since my group generally exits well into some decent firms but from hearing others' perspectives I'm not sure that life will be much better.
Corp dev / LO AM were things I hadn't considered too strongly before but now they seem (to me at least) to have the best mix of WLB and stimulating work so will probably try and look into those in the near future
I'm a stub associate and feel the same way. I'm bouncing after receiving the first year bonus. The deal breaker for me is not how much I'm working now but rather seeing the lifestyle of the VPs and EDs, and I find the administrative aspect of a sell-side (which is most of what we do) pretty boring. Love analyzing companies with less time pressure but the rushed and quick nature of the job is annoying
Are you an mba associate?
What are the hours for 2021 first years? That graduated this summer
Varies. I’m at around 90 and that’s consistent in my group for first years. But friends at other banks are 70-80.
Is that the same as the first years last year 2020 analyst? Or a little bit less
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