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I mean its tough to say. I like the people I work with, the clients I interact with, and some of the work that actually makes me use my head. That being said, a lot of it sucks too and WLB takes a hit. So there is more that I think about than time in and time out. I tend to be happiest around bonus season obviously, with an immediate dip after when I think "damn gonna be another year until that happens again." Then kind of neutral through the rest of the year. I try my best to make time for life shit, and while sometimes I gotta cancel, I am able to see ahead far enough to know if I can make things. Maybe that comes with having earned some MD trust and being at the more senior level among analysts. Plus I imagine at the associate level, I can start passing off some of the most menial time consuming stuff. I know it doesn't get that much easier and is still a ton of work, but I'm sure it helps. But I guess for your question, I couldn't really go below where I am currently at financially because it's what I am used to now. Maybe down the road I'll dip, but for now I'm gonna hang around. Even if there was a job with a better WLB for the same salary, I am not sure I would jump just yet because I like the growth prospects and salary upside in the future that I have now. Doesn't really answer your question, but thought I'd offer my perspective. For context, my bank pays absolute middle of the road.
Think its important to consider future earnings too... Some will slave away earning 150k because 300k is right around the corner, not because 150k is their trade off point.
So without over thinking it, the same company you like, same people you like, they say look you can work 80+ hr weeks doing shitty tasks and we'll pay you X, or you do 40 hr weeks (8 hr days, no weekend work), more meaningful tasks, more advisory, deal strategy type stuff, but we'll pay you Y instead. And your earning trajectory is scaled accordingly also. So your next level promotion is X x2 still doing the crazy hours or Y x2 with the better work life balance. I suppose I'm asking because I find it is always just the $$$ that wins out. Everyone talks about the value of WLB, but in the end they go for the higher $$$ anyways. So what is peoples' number that is the break even point between pay vs WLB?
There is no cutoff man. I'm just all about the bread homie. Some people just built different.
I hear you. I'm the same way. I'm the guy always trying to say to HR "just give them more money and they'll be fine." And then I always have to listen to them telling me that isn't what the young generation wants, it isn't about the money only, it's aboutnl experiences, work life balance, etc etc reasons why we won't pay them more. But I am still yet to see any concrete examples where someone passes on the extra $$$ for the WLB instead. But I figure there has to be some break even point for this trade off.
Anyone hiring at 60 hrs for $240k+
Maybe if your a doctor or lawyer
I think COVID taught us all that there is a breakeven point, hence the mass exodus at the junior levels. Most of us won’t get comp’d for the additional ~10-20 hours/week that’s being put in, but as long as there are people willing to work it, and put those firm stickers on their resume, banks will pay what the market accepts. (Including my dumbass self.) Do most people plan on doing IB for life? No, not at all, but our breakeven point has much less tail-risk at this point in our lives than when we’re in our young thirties and trynna start a family.
I think 60 hours a week is the ideal for me. Would try to maximize pay for those hours.
Same, for PE I think more than that becomes too stressful, but the pay is good enough to handle more than the average person. I spread my work over 6 days a week, so I already get a pretty good WLB for my pay imo.
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