Any Investment Bankers Relate?
Don't know why I'm making this post. Partly to ground myself, partly to vent, partly looking for advice I guess.
Background: I’m an Associate (A2A) at a boutique in NY (not super recognizable). Recently, I’ve thought a lot about my future career path and plans in general, so I began asking myself how I really feel about my career – completely sober of any copium…A couple things I think I’ve realized which I just wonder if any of you relate to.
- I’m doing this job only because of the money, job security, and the title of “investment banker” which makes me feel better about myself because I’ve always been terribly insecure.
- I’ve been getting top performance reviews, but I don’t feel like I actually ever do that much. MDs tell me I did an excellent job after a phone call with my TMT client, but I feel like a complete imposter because the ideas I have are honestly all kinda half-baked and pieced together from a few hours of Google searches and Reddit ELI5 threads about “cloud computing”.
- I don’t actually enjoy any of the stuff I do very much. I say “very much” because I enjoy it to a certain extent, though most of it is really just feeling better about myself because I’m advising older people and feel smart doing so lol.
- Although I claim I chose to stay in banking because PE wasn’t for me, the truth is I bombed a few interviews and just felt too sad and discouraged to keep trying.
- With that said, I don’t regret it that much because truth is…I do not enjoy competition or intellectual challenge and PE sounds like it requires a hell of a lot of both compared to IB.
- I’m now a 2nd year Associate and horribly anxious about my future career prospects because though I’ve done my Associate job very well, I haven’t put much thought into preparing for a future either as MD or for another job (plus I’m pretty socially awkward, especially in corporate settings).
- Thus, while I actually enjoy the hell out of my current life because I get paid more than I expected and work less than I expected, the future scares me because promotions are bound to change the role.
- Lastly, the most troubling thought I had: I don’t have a passion for anything productive. If you asked me what I want to do if money was not an issue, I would say my dream is to retire, smoke weed, travel occasionally...maybe do something philanthropic at some point.
Nice post!
I can 100% reassure you that you are not that only that feels like this - wanting to retire and smoke weed haha and not do shit
Are you me? Personally, what I've told myself is that if I go VP, I will test it out for 6-12 months. It's a role where you can't entirely ride the mindless treadmill anymore like analysts/junior associates can, so natural attrition would weed you out if your heart isn't there. If I'm still feeling the same way as I do now then I'll take some time off and eventually jump ship to maybe a corp dev/strategy job at a company that sounds mildly interesting.
I considered the same, but jumping ship to corp dev / strategy didn't seem much better imo. You're also doing more than riding a mindless treadmill, especially with a learning curve in a new role. The hit to compensation is also just way too much for me to accept unfortunately.
Leaving IB is how you get off the mindless treadmill. Learning in a new role could be the kick in the butt you need to feel motivated. With regards to comp, that's something you'll have to come to terms with. Otherwise you'll be stuck doing something that it sounds like you aren't super passionate about purely for money (your situation right now). Ask yourself how much that's worth
Even if VP is not really your thing, you can grind out few more years, get Director title, leave, join a startup as a CFO or mid cap as a high level officer and ride it out.
VP probably won't get you to PE or HF but I think they are plenty of opportunities if you have solid deal experience + connections you make on the job, especially as a VP and client facing role.
Worst case scenario you burn out, go to Thailand or Bali, hit the beach for a year while volunteering on the side, teaching english, etc.
Tbh, I do strongly believe that I can kick ass in PE. I just suck at interviews lol (very long-winded, talk very fast, socially awkward, etc.)
I do hope that I can eventually find my way into PE or something similar (maybe even banking if I can find a group with good WLB). I think it's still the most acceptable path in my mind. Of course I don't stand a chance in MF / UMM funds, but I'm 100% okay with being at a smaller, emerging fund where I can really have a long-term career.
Are roles like corp dev / strategy actually like a mindless treadmill as well?
They most certainly are not, and this is a take from someone who has no exposure to how a good corp dev / strat team operates. At the junior level, the mindset of a corp dev / corp strat associate isnt that different than that of a PE Associate. Yes the work varies considerably, and as does the investment approach, but growth, margin expansion, and synergies are still the same core focus areas when assessing anything.
Are there any thorough interview guides or threads on corp dev / strat roles? I'd imagine the processes would be different from IB, especially for strats
Shea and Co?
No but similar TMT boutique
I think about this every day. I honestly hate IB but don’t know what else I’d do. I love the public markets but don’t want to live in nyc so my options are limited. Ill be gone the second I figure out what I want to do next.
Trying to figure out if I entered a late-night fugue state and wrote this myself without knowing it...
I think we all feel this way. My plan is to keep living simple, stack paper, and bounce ASAP. If I can get student loan and mortgage paid off, and get $3M cash in a money market fund, I can off that pretty easily.
How long is it going to take to get to $3m?
Longer than I'd like.
100% with you there bro lol
Not trying to rub off the wrong way but it sounds like you need to start holding yourself accountable. You put yourself in this position and if you don't like the idea of being a VP you should leave. Even if it does mean you take a pay cut, so be it. Better do it now and work up within a new company than leave as a VP and start recruiting for a new job from scratch. If you really don't want to do much work, there's always family offices w/ <40h workweeks with great pay & benefits. Another avenue is finding a corporate role at a somewhat established company. Know a guy who was corporate at a startup, got equity, good pay (Tier 1 MBA lvl) & worked like 5 hours a day.
Well, I don't mind being a VP. Think I'm already basically doing a VP role right now given the size of my firm (I work directly with MDs, no VP in between). I'm more anxious about Director/MD. I also honestly really enjoy my current role (not the content, but the pay and WLB as I mentioned).
Family offices are exactly what I'm looking for, but I know it's difficult.
You should start building a database of family offices, you can easily get a job there given your background. I interned at one last summer and the principal there had only worked in a pension fund for like 2-3 years before taking that role. Completely doable for you, just put yourself out there.
How the fuck did you even make it this far???
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