Feeling good in life
…..
Feeling good about the current market and my job status, also GF and family wise as wel. Anyone else feel it?
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No part of working an 80 hour work week feels liberating. Further, how is looking at your bank account supposed to make you feel liberated? If you don't clock in tomorrow, it all dissapears in no time. and WHEN you DO get time off, you just want to rest for the most part.
I think he’s saying that for those who don’t come from money, the ability to make good money and not have to worry about whether he can afford some leisurely activity is huge
There's a false idea on WSO that if you don't have money growing up, then money can make you happy. It won't. You end up in the same place. Just takes you a little longer to get there.
EDIT: Love this MS getting thrown my way. If you're born poor, you must be the luckiest person on the planet because then you can just make money and be super happy forever while everyone who is middle class or rich is hopeless.
Sorry folks. Money can buy you some comfort but not happiness in the end. Doesn't change regardless of which economic strata you were born. Maybe for a little while longer, you'll appreciate the weatlh having been born poor, but before you know it, you get used to it and fall into the same trap as any rich or middle class person finding themselves unsatisfied. Seen it a million times.
Jeez man … quit your job holy shit dude
Honestly working 80 hours a week isn't as bad as everyone makes it...here's 80 hours for you with still having ample free time:
- 8AM-11PM Monday-Thursday
- 8AM-6 PM on Friday
- 10 hours split up between Saturday and Sunday (I wake up at 7am to get work done in the morning)
Boom- 80 hours a week and you will generally have Friday-Sunday nights free. Obviously, there's variable to this schedule (working till 2am one night or grinding on a Sunday night to finish comments), but generally, it's doable. Yes, sometimes there'll be 100 hour weeks, but those go by fast. There'll also be weeks when you're working 60-70. The week honestly feels like 1 long day at the end of it. Keep in mind that you're not working all of those hours- I have ~25% downtime waiting for comments / action items from the higher ups. I've been in IB for 2 years now and I'm staying because I like the work, hours generally get better, and pay increases.
Regarding your original ask- it feels great. My family was nearly broke growing up, I had to completely pay for college, so having financial freedom feels awesome. I love going on dates/going to the bars and not having to worry about money, along with being smart and saving ~30% of my salary and bonus.
Thanks for that man. That was a great response. You’re the man.
How do you still find time for hobbies, friends and family?
Honestly don't have many hobbies outside of working out (outside of drinking) which I do at least 10min everyday if not longer. I live with my girlfriend, so that makes it easier to see her during the week, on the weekend I'll watch football games with the boys outside of work and have date nights. It's easier than you think
It's pretty fun experience to be honest. I never found banking to be very intellectually challenging, so in that regard, the 2 years is really not that bad. Going out is always fun.
Why don't you find it intellectually challenging?
I also think those 80-100 hour weeks largely depends on who you are working with and how your team dynamic is. That’s why there is so much disagreement on topics like this. It’s really not about the actual time, but the emotions and the shit you have to deal with during the week.
I’ve been on both sides of the story, the shit end makes 80-100 hours feel suicidal. On the other hand if you manage to be able to work with a competent team that you can get along with it really goes a long way. Those long weeks turn into satisfaction when you look back and see what you are accomplishing.
Always be thankful for where you are in life. At least you aren’t in an Asian sweatshop factory making a dollar a day.
How do you get the through the day and find time to have lunch?
If you live like a person making 80% of your base salary and you save the rest of your money, you'll have a perfectly fine life and get to enjoy yourself on the weekends without the typical financial stresses that many people run up against.
Be aware that financial problems are one of the top causes for divorce; you can make $500,000+ a year and still be cash broke because you decided to mortgage 5 houses that you don't need. If you can maintain a pre-tax savings rate of 25+% you can live a great life without having to worry too much. Your relationship with your spouse (however far in the future) is way more important than that new Porsche 911/Maclaren/etc. Make sure that your girlfriend (or boyfriend, we're LGBT friendly on WSO!) has the same perspective on financial matters BEFORE you get married... and yes get married; don't listen to stupid people.
If you are in NYC (or any other major city), you may run into people doing drugs and drinking heavily every weekend. Enjoy yourself, but remember to keep perspective and make sure that you and your friends aren't letting the stress get to you and leading you to go overboard (hint: blacking out or forgetting parts of your last night is overboard)
"Bro I can't wait to get outta USC where I gotta play lacrosse in the middle of LA so I can work 95 hours a week in a cold ass city for what amounts to $30/hour!"
This is unironically true. People on this forum have shit for brains. OP, it sucks. It really does. And no you don't make that much money. It's a regular corporate job
Only reason I went IBD -> PE initially was the prestige (at least in top IBD like PJT/CVP and PE MF, because BB IBD/MM PE isn't prestigious) somewhat made up for it. Of course, comp at PE MF is nice too, but that's only for KKR/BX/APO.
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