AS1 thinking about quitting with nothing lined up - thoughts?
I'm 26 and been in IB at a MM tech group for the last 3 years. Very sweaty and high deal flow so have gotten great experience (~8 closed deals). I've also been able to save close to $300K (including retirement) over this time with no debt, but I think I've reached my limit. I'm working 9:30am - 2:00am pretty consistently and working almost every weekend (this has been the case for the past 3 years). Not sure how much longer I can do this. I want to pursue other interests and passions, including focusing on my health and body, which have deteriorated massively since starting.
I'm due a bonus at the end of June and thinking about quitting right after that. Plan would be to just take the rest of the year off. Get back in the gym to focus on myself and then learn new things on the side (video editing and coding) while I look for other jobs. I would plan to float myself using my savings for 6 months and it would cost me ~$15K all-in. I look at this as a kind of an investment in myself and spending 5% of my net worth on my freedom doesn't seem that steep of a cost.
I also have realized I hate doing deals so not interested in PE and would likely pursue BizOps or Strategy roles at startups.
Any thoughts?
You should 100% do it. I would too if I didn't need to be employed to maintain my visa status. AI models have gotten so good at coding (I use gemini 2.5 / claude for personal projects). Hoping to go back to school sometime soon to get out of this corporate grind.
How long is your visa status available for?
One more year man. If I don't get the work lottery I will go back to grad school. My firm is down af to sponsor but I need to win the H1b lottery first.
Completely understand where you are coming from, but I will advise you that the job market is as bad as it's been since the GFC. Let's hope things turn around soon but you may be waiting to find a new role for awhile.
Sure but if there's a time to bet on myself it's now. My life is the cheapest it will ever be.
True, just get the job before leaving
You sound like me. Good luck to you, I’m on a similar search
bump
BizOps and strategy are perfectly fine and have been discussed at length as perfectly good exit options. This needs no additional counsel.
Regarding some other things you said, my intent in writing this is not to counsel you against leaving the industry, but to provide another perspective to assist you in making an important decision. Your plan to learn new things on the side is somewhat nebulous, and the two things you mention, video editing and coding, are precisely the vocations which are arguably the most targeted in the crosshairs of the latest artificial intelligence technologies.
There will be great pain in both of these vocations in the coming years, and a decision to discard (even temporarily) your highly successful position should not be taken lightly. Many technology companies will come to the conclusion that they can do more work with fewer people in coding and video editing, and they will lay people off indiscriminately. You are doubtless an intelligent person, but there will be many people on the job market with substantially more experience than you will have had, and you will be in a competitive marketplace with them.
Take translation services for example. When Google Translate came, translation companies fired people in droves, and the jobs that remained were fewer in number and amounted to cleanup of what Google Translate had already done. The people who remain tend to be the upper echelon of experience who can validate the results that have already been produced by the technology. Another push which will only continue with AI is to further reduce cost of labor by offshoring to LATAM and Asia, and video editing and coding are highly susceptible to this as well.
You are blessed to be at this crossroads. You have saved more money within the first 30% or so of your life than most Americans ever will, and Americans are far more fortunate than people in most other places. Regardless of your decision on this, I am sure that you will do fine. I wanted to articulate the potential consequences of leaving the industry, albeit an industry which very well might take you back in some capacity (IB, PE, etc.).
Firstly, appreciate the thoughtful response and totally understand what you are getting at. Pursuing other hobbies and passions, for me, is not for vocational purposes. I don't plan on becoming a SWE or an editor.
I've realized I'm happiest when I'm building, whether that be in the physical realm with wood and tools or even in finance when I'm building out a model or detailed analysis. I want to make YouTube videos and have an idea for an app that I'd like to make happen. Will either of these produce any meaningful revenue? Probably not but I think will lead to a more fulfilling and happier life. I plan to use the AI technologies you mentioned to accelerate my learning. Staying in banking seems like sitting on the sidelines while another technological wave passes me by and have no time to pursue literally anything else.
Fundamentally, I see myself as an "operator" (i hate that term) rather than an investor or especially an advisor. My career goals would be to pursue BizOps role at startups and do whatever I can to help a business achieve its full potential, hopefully doing well enough to manage a P&L one day.
Also, the fact that I have saved this much I feel allows me to be a bit more risk-on than a lot of people my age. I think being risk-averse at such an early point in my career only benefits my wallet and nothing else in my life.
This is balanced and healthy. I thought this thread would be remiss without someone at least raising the risk of a tech employment onslaught which would make some of the things you're talking about less rewarding as a standalone career.
Really well put. Again feel like I’m in the exact same boat and mindset
Where I struggle is how to actually land a seat that 1) pays enough 2) is on a growth path 3) is actually hiring
All these 250k+ strat fin roles I hear abt on this forum would be the dream path but I don’t see it.
I did this last year. As others mentioned, the job market was surprisingly bad even before tariffs were announced. Was unemployed for 8 months. Applying for jobs and interviewing day after day knowing your career is slipping through the cracks was a different kind of hell. Ended up accepting a role with a significant paycut because I felt like I had to for my own sanity. Thankfully, money and expenses were not an issue.
Only you will know what’s best for your situation. Maybe it’s time for a break, maybe not. If you’re going to take the plunge, I’d recommend having some sort of a plan and be targeted with your search. Your background is probably better than mine so maybe you’ll have an easier time recruiting.
Godspeed brother.
100% agree with this
Having done that myself, I would say:
Long story short, don’t rush the decision. Think through what you want in life, and if you need 6 months to learn a new skill, travel, or get your health back together then do it. But make it count. Sellside will always be open, but you may have to downgrade and be prepared for at least 3-6 months to find a new job as it’s always harder while unemployed.
Separately, if you want out of banking, I haven’t done it personally but why not go to a doctor, say you’re burnt out, and take 6 months of mental health leave? Will definitely ruin your credibility within the industry if they do extensive background checks, but corporates likely won’t care.
did you find a role yet?
$30-50K for 6 months sounds steep... but I guess if you have the financial means - why not.
OP I'm on wits end in my current job in consulting.
Might resign without an offer after I receive my Christmas bonus (was planning on recruiting in January while staying employed but just got staffed on a ridiculous internal BD request that might become incredibly time consuming over the next 2 months for potentail project work I have no interest in).
Life is short, so I think you should go for it, especially if you know you hate deals and don't want to do PE. But be prepared to spend more money per year than you were expecting ($15k for 6 months is super low) and add 6 months to how long you think it will take to find a job when you're ready to get back into it.
In the time you plan to take off, you should start convos with friends in the startup bizops space and get a feel for what the job entails, what different startups are like, and generally expand your network in that area before you need anything. That way when you're ready to start applying, you've already established a network.
I did this and regretted it.
I think it’s different when you’re an analyst (especially 1st yr), as it looks like you’ve been fired for incompetence.
But yeah same boat taking a long time, you shouldn’t do this if you 100% know you want to come back to M&A, if that’s the case better negotiating a break in between jobs
what if not fired for incompetence ? how to work back and prove yourself ?
What type of job did you end up with?
Curious, how have you been able to save so much in only 3 years? Have you been living with parents or somebody with no rent? Seems like the only thing that makes sense, especially if you're able to live off savings for 6 months using only $15k.
My rent is 1,400 and I live pretty frugally
Huh? That alone is over 15k, not even factoring in healthcare, groceries, transport, phone, etc. The math aint mathing lol
they said all in so that's including 401k (and company match); nearly 300k as an AS1 is not that crazy assuming they were in IB the whole time and stayed A2A
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