Anyone ever left during IB 2 yr Stint?
Currently in Yr1 at a BB in UK
Cant give more details as Im trying to keep this anon
I cant put up with the work, lack of sleep, negative Wlb and my superiors that dont seem human. Would like to see yr1/2 analysts schedules/hours/ what time do you finish at each night at other BB just to make sure it isnt my group/MD's fault.
If possible include whether its UK/ USA but feel free to provide insight/info on hours etc. even if based in NYC
Wondering has anyone left in a similar position or for similar reasons
Feel free to dm if u have
Not sure best way forward but I have arranged therapy sessions basically to vent
If u go on WSO to troll pls go elsewhere as this is a serious topic
Thx.
Current 2nd year in understaffed sweatshop group with high turnover.
Average 85-100 hrs a week with no weeks below 80, 9-3 average during week, no downtime, weekend work every weekend, protected Saturdays not followed. Trying to exit ASAP.
From my understanding from peers at other groups and banks, standard across street is like 9-midnight hours and 70-80 hrs per week.
if you make it to the 1-year mark (or even if not), you can definitely exit to something solid - corp dev, startup, etc. It’s not worth killing yourself or try to prove your worth in a toxic environment - the bank has made its decision to not hire enough people and provide safe working conditions, don’t be the collateral damage.
Thx. BB I assume?
Yup NYC BB
Semi-common. A lot of people leave after a year to do something in the corporate world or startups or any other various jobs. Sucess will obviously vary based on person and their interests.
I left in 6 months to Corp Dev and do not regret it.
Thx for reply. Bad hours/ late nights seniors? Would like to see some detail
All of the above. Working 100 hours a week for 2 years straight minimum is not something I wanted to do and I only realized once I was in the IB seat.
Now I work in corporate dev remotely, super chill hours mostly asynchronous work.
Very chill team too, trust me and essentially just give me projects and I ask for a deadline. Very hands off, let me do my thing. If I finish before the deadline then I get to coast until next project comes up, if I don’t have enough time I’ll let the team know and they are flexible. Have done 3 M&A deals and love it!
Pay is obviously not the same, but my base is the same and have an ok bonus. But nothing beats the WLB.
I can go to Costco in the middle of the day for 2 hours, I can vacation and continue working remotely, I can go to the gym midday. I can fuck off for an entire day and not do anything as long as I’m managing my work effectively. I can go out, plan roadtrips, camping, weekend trips.
No more spending money on commuting everyday, dry cleaning my suits and shirts, spending $$ on lunch, working until 3:00am.
Latest I’ve worked is 7:00 pm and it was a quick update to an LOI we were gonna submit for a huge company, it was high stakes and LOI was due same day too so we were trynna get a bid out. Took me like 20 mins and got back to watching my movie with my girl.
My attitude towards work changed. I used to try to look busy in IB during any second of downturn out of being scared of getting more staffings since I never got a break. I use to hate my job and the work and having to do things I had so little motivation bc of the stress and culture and everything. It’s soul sucking.
In this new job I’m actually asking for more work! Because I don’t work much so I have the capacity, my team is small and awesome and hands off and not micromanaging, and I genuinely enjoy what I do. I get to meet people, go out for drinks, write checks, it’s fun! It’s like I can’t wait to see what happens the next day at work bc I’m proud of the work I do, I’m happy, I’m treated with respect and as a human not just a disposable grunt, and I enjoy it!
Fuck IB.
I wish I went into markets/s&t instead of IB. That boat has long sailed but I’m happy where I am
Also left almost a year and a half in to go to a startup, I think after the one year mark it’s chill to move.
Did u leave or howd it go
yeh i left after 1.5 yrs, haven't started my new role yet but very happy for banking to be over
After ur 2 yr stint
some private equity firms can be a little picky with wanting the full two years, because they want you to get the full training from an analyst program, and in general, private equity can be just as mentally intense and competitive (especially at larger funds), so they want to see that you can survive in the IB environment. Corporate development, corporate finance, consulting, corporate strategy are all accessible after one year. No job is worth your health.
I left but I just stuck it out for 2 full years. 3 of my fellow analysts left between 12-16 months because they didn't like it and they're doing fine. Of those who left early all chose corp dev/ strat finance not investing because I think PE is more of the same. I left as high finance as well
Yh its called banking 2.0 on wso
1.5y > corp dev > consulting
1.2 years IB > Strategy > never happier. Comp doubled and hours 1/2'd
Strategy at start up or bigger company?
Nihil magni porro porro in ab nam laudantium nihil. Repudiandae debitis ut doloremque quo inventore aut officia eveniet. Sed molestiae aspernatur dolor. Nostrum fugit nihil tempora et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...