Are you guys happy with life? Help me please.

I'm looking for serious answers please because your responses will help me decide my life trajectory.

I'm an undergraduate at an Ivy... I'm honestly drawn to finance almost entirely because it seems like a lucrative career and I'm not interested in medicine or law (if law is even considered lucrative anymore).

However, it seems like no one in this industry is content. Are you living in constant stress? How do you have time to have a meaningful life outside of work if you work such long hours?

Do any of you regret your choice, and would you go back and do something else if you could? I don't want to live a life of regret, or have money be the only thing I have.

I've always been extremely good at math/physics, and I am afraid that pursuing econ and doing IB instead will be a waste of my potential. Excel all day does not sound fulfilling.

At the same time, however, I don't think I'd be content getting some Math PHD and making 100k in academia for the rest of my life.

I'm aware that I probably sound extremely naive, annoying, arrogant, etc. but I am honestly very conflicted about my life choices right now and it's leading me to depression. It would mean a lot if some of you could honestly reflect and try to help me.

Thank you so much.

 

I think the key to this is to talk to alot of people in the industry both in academia and in finance. Having mentors can really help and finding mentors just requires you to reach out to alot of people. During my networking search out of the 100+ people I've reached out to 2-3 have become close mentors to me that have really helped answer my life questions. While it is true that many people in finance are stressed (you are getting paid $$$ to deal with it to a certain extent) many still find it to be fulfilling.

At the end of the day after a certain amount of $$$ it doesn't buy happiness so while it is easy to only look at for career options think try to find something that will really make you happy. There are some miserable MDs out there while there are professors who get paid maybe 1/10th that but really enjoy their lives (and they may be as ambitious as you are).

Also, if you can have a solid GPA majoring in math/physics going for an IB internship junior summer seems like the best option. If you don't like it you can always continue your route to become a PhD. Coming from a target (since its an Ivy I'm assuming target) your major won't matter as long as you show you're a smart person.

 
Best Response

Here are a couple of things you really ought to understand starting now:

1) There's no industry you enter that won't require you to spend time doing bitch work as you learn the ropes.

2) There isn't a working professional alive making $200K plus who isn't constantly stressed. No one will ever pay you that much (or more) just to sit around.

3) Most jobs are temporary, but jobs in "up or out" industries tend to be more temporary than most. If you end up hating finance, worst case you'll leave after a couple of miserable years w/ a great skillset to go do something less stressful. Best case you love it and thrive.

4) You'll statistically end up switching jobs/careers 5-6 times over the course of your life, so your decision now isn't that big a deal in the long run.

As for what to do now? Enjoy undergrad, get the best grades possible, network, and find some internships to see what you truly enjoy doing (or at least can tolerate and still be reasonably happy)

 

I agree with your sentiment and most of what you say, but disagree with #2. Go to a F500 and look at the Directors (not just in finance), you won't see many "constantly stressed".

Do most have stressful times? Sure. Are some never stressed? Yes. Are they all constantly stressed? Certainly not.

twitter: @CorpFin_Guy
 

I agree. I do think the scale and spectrum of stress for F500 really varies dependent on the type of role (there are technology/IT directors, internal audit directors, and then your FP&A/Corp Strat and Dev folks). I'd like to think that stress increases as you go from left to right on this list, but not to an untenable degree. I know of two close friends at f500 at the senior manager/director level who generally have comfortable lifestyles while getting paid quite well. There are stress occasions, whether during a forecasting cycle for FP&A or during the latter stages/negotiations for a deal, but otherwise they seem to have time to spend with their family/loved ones and go on vacation without needing to be plugged in.

I don't know if it was you or someone else who spoke about their role as a f100 controller a few years ago (perhaps I'm mistaken). I'd love to see you do an AMA for your role, as I think many would garner value from learning more about what it's like working in F500 finance :)

There's a closer meaning to my user name. Try reading it quickly. Perhaps you will then understand ;P
 

If it's an interview, the answer is always yes ;P

Joking aside, I would say that I'm personally content with how things have worked out over the last few years. I've gotten some terrific experiences, learned meaningful skills around the transaction process, and had the chance to learn a bit about very different industries while interacting with folks that few other junior level roles would have given me the opportunity to do so. The compensation was also a plus, but that as a standalone will not satisfy if you are miserable working 80+ hours weekly on end.

All this said, I would be fibbing if I didn't say that some days weren't difficult. I had a few weeks after the end of my first year where I was working every day of the week for several weeks. It was certainly a bit grueling, but it helped to be in a group with a good culture. Our seniors helped to keep things manageable and ensure that the busy work was kept to a minimum, and everyone was in when the transaction necessitated the same. This helped morale and also made for some interesting stories I would say :)

If I could do it over again I likely would have done it the same way. Coming from a non-target school, It was a very humbling and gratifying experience getting to this point 1.5 years from when I graduated (it also made me realize that this process in its entirety really is a crapshoot), and I'm thankful for the opportunities that have presented themselves.

For your case, I think you are in an enviable position. You are at an Ivy League School and will have strong OCR that will lead to a lower barrier entry for any role that you would like. I wouldn't necessarily fret about the first few years out of school, as I think most junior roles are fairly homogeneous with respect to responsibilities (e.g., grunt work, analysis, tertiary tasks). I think your goal really should be to target a role(s) where you will build meaningful experiences and built reputable skills for the next steps in your career in a field you think you'll enjoy. If it works out, you'll find utility over the duration of those 2-3 years out of college. If you find you didn't like the role, you will still have built a great CV after the period is over.

Perhaps I'll have a different opinion one year from today, but this is my perspective today :)

There's a closer meaning to my user name. Try reading it quickly. Perhaps you will then understand ;P
 

Is it just me or is the word "depression" being thrown around too much these day on this forum?

Reflection is something you have to do yourself. Everyone here, including me, will give answers based on our own belief system which may differ greatly from your.

You are in UG and most people in UG are attracted to lucrative jobs. You wont know what you like unless you try it.

Furthermore there are multiple versions of this thread on this forum for you to go through and decide what you want to do in life. Your post makes me feel you have not gone through them and just posted here.

Also "your responses will help me decide my life trajectory" is BS. Make your own decisions. If its right you will be happy and if its wrong you will be wise.

"The markets are always changing , and they are always the same."
 

Great question, and one that every single person on this board has asked (or will ask) at one point or the other. Don't be depressed because you don't have all the answers- you're not supposed to.

Personally, I am very happy with my current role in finance (I pivoted from PE to HF). What's my criteria for this happiness? Primarily my intellectual curiosity, and the fact that I feel fulfilled in working towards my career goals. It's important to note that many people share different definitions of their versions of happiness and fulfillment (both of the aforementioned concepts are completely subjective). I've had jobs where I was making six figures a year, and I left them because I absolutely hated it. I remember thinking "if this is what wall street is really like, I'm done with this shit". I have 0 regrets about leaving the jobs I did, because I personally don't think money is a substitute for peace of mind, and ultimately, happiness. Also, without those terrible jobs, my career trajectory would not have landed me where I am now.

I don't live in constant stress in spite of pretty long days, but that's because I make a conscious choice not to. I live my life very simply; Mondays through Fridays I focus on work, and Friday evenings through Sunday I dedicate to spending time with friends and family. From a mental perspective, I meditate, focus on what I can control in my life, stay positive, and do my best to always make others feel good about themselves. From a physical standpoint, I lift/box 6-7 days a week and eat healthy on a regular basis. I've found that doing your best to stay in optimal physical and mental shape really helps you to stay positive.

I actually pivoted in finance from pre-med when I realized that my heart wasn't in becoming a doctor. My biggest regret is that I didn't start/finish my undergrad in finance, as I would (hypothetically) be a lot further along in my career than I am now. That being said, I'm very content with where I am in life right now, and I have an optimistic outlook for the future.

My experience is one of many, so be sure to talk to other people before making your decision. What I'll leave you with is this--when deciding what you want to do career wise, try to make your goal in pursuing that career something bigger than yourself. I understand that everyone on WSO wants to make tons of money (myself included), but what's bigger than the money? For me, I want to be able to write a check for my parents and tell them that they never have to work again. Being a first generation American, I want to eventually help lower income kids make it to college and beyond. I want to do my best to help deal with homelessness and also take steps to address the lack of awareness surrounding mental health issues in our society. Those are a few of the things I'm passionate about, and I always think about them when I think about an end goal. I genuinely believe that you should really try to think on the impact that you want to leave on this world.

I wish you best of luck, and I'm confident that you'll find the answers you're looking for. Feel free to PM.

Array
 

The only time anyone has no regrets could, maybe, be if they are born with a multi billion dollar trust fund and never have to work a day in their life and spend their days chasing models around the Mediterranean with DiCaprio. Even then, I bet that the wrong person of weak character would find something to bitch about: "Dude, those bastards at Monte Carlo say my Yacht is too big and I have to park it out in the water!" Regrets, for lack of a better word, are good. They build character. Whenever you make a mistake, go left when you should have gone right, zig when you should have zagged, a lesson is born. Those lessons helps us the next time we are in a cross roads and we get a little better at making a decision each time. All that to say this: don't worry so much about everyone else just focus on the options that are available you and your circumstances and put your best foot forward and do what you can to make the best of them. Good luck.

"I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. " -GG

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