TLDR kinda like what you’re doing in banking / doing deals but call a spade a spade shit was a grind but if I'm working hard… might as well get paid right? At least before kids and accumulate more $…. Fully aware Drastic difference between 50-60 to 70-80+…. And crazy sprints… so am I crazy? Anyone else go back to the dark side? And if no MD, post VP - where do you go? Cushiony corp dev?
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Some people just really love deals. I don't think you're crazy, just that rare person who is truly passionate about working hard and closing deals. I'd just recommend you diligence your next bank carefully if you're thinking about being a career banker. even if WLB isn't super important to you right now, if you ever want a family that could change. Ideally somewhere the VPs and up have families, aren't in the office working on pitches on friday nights, etc.
MM banks or another boutique / smaller shop would be best bet if you still want to do deals + have WLB, as above poster said
Yup. Would only consider MM or boutique but like idea of a larger platform (thus leaning more MM than boutique) after having worked at a smaller shop where comp has a bit more variability…
I would try and find the sweet spot of a smaller group within an established platform. For example a smaller industry coverage group within one of the Stifel/Blair/Baird/Piper banks of the world. You can find some really chill groups with really light hours at some of the aforementioned. Ex: Piper's Redacted group or Stifel's [redacted because I might apply there soon and don't want competition] group. You'll make the same base ($165K at Stifel, $175K at Piper, I believe) that all other Associates do but you'll be working a lot less hours, in a much tighter team.
But anyways, god bless ya. I have jumped around a good bit too, working for IB boutiques, and frankly came to the same conclusion as you. I always end up working pretty damn hard, so I might as well get paid for it and work among some legitimate dealmakers versus getting shitty to no bonus and working with a bunch of chuckle-heads at a complete no name boutique. There really is no free lunch in this industry, if you take a schmucky job to work light hours you are going to get paid schmucky money and have to work with schmucky people on schmucky deals. Would rather just deal with a few extra late nights a week and work for a real deal-team.
Not crazy at all, many of us hate it but I’ve seen some seniors that love it and they’re usually good at it. At some point in life you gotta pick a career where you enjoy the work / feel self fulfilled. If that’s banking for you than there nothing wrong with that at all
I work in corp dev at a publicly traded company and am currently looking into IB opportunities. Curious to hear what banking folks say here.
From my perspective, our advisors get paid much more than we do, and I'd rather work longer to make bank.
Not sure if it's only me but I am slowly losing my edge and motivation. Really hoping banking would stimulate my intellectual curiosity again
If you're curious why not do it, you can always jump back to corp dev. Even if you hate it, a year or two in banking is amazing branding and teaches you so many skills that you just don't learn outside of that insane pressure cooker environment.
IMO the complete loss of control in your life (evenings, weekends) makes you appreciate the slower pace of corp dev, but it's easy to go back... there is really no harm in going to IB just to try it.
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