Feeling really lost in IB
Hello all,
Not sure why I am taking my problem to this forum but just want some advice/inspiration from some peers who have shared similar experience in IB/Finance. Over the past three months I have really started thinking about my future and what I want out of life. As I have done so I have realized that really none of it aligns with the IB/PE/HF routes. Had a recent death in the family that has made me think even more about just how valuable life and time is and I just don’t see working in finance being what I want to spend my life doing. Not that I am a hypochondriac, but if I were to die or become paralyzed I don’t know if what I want to be remembered for is completing a crazy merger or buying a company at a great multiple for the fund. Everyone in banking seems so unhappy to me and I just feel it really bringing me down too. I can’t say I have experienced real joy in the past few years.
Thinking about quitting and starting something. I should have enough saved for 2-3 years of living expenses come bonus season and I think that would give me a ton of time to try some things and run with what works and helps me feel fulfilled.
What are your thoughts? Am I stupid for throwing away IB? Talk me on or off the ledge here
Don’t quit. You are already half-way through the most difficult years of IB ( analyst & associate years ) and what’s ahead of you is nothing but sweet life. Once you make it to VP, it will be 600k paycheck and dumping all the grunt work to analysts and associates and AI. That’s like a dream job. You just have to get through this most difficult part. If you quit now, you may end up in a place a lot worse than what you would have if you didn’t quit
Sort of disagree on a few points here.
First being that $600k will solve my problems. If I don’t care for the work then no amount of money is going to fix that. The wealthiest people in the world didn’t get to that level by doing something they didn’t enjoy. Also, $600k is an excessive amount of money in my opinion. You’re now beginning to work for the luxuries of life which is a very dangerous line. Most bankers retire as the poorest rich man in their circles
Second, the role of VP isn’t dumping work (as much as it seems like it is). If a VP is consistently creating work then they will not be a successful MD and will eventually get canned. Competition to making MD gets hard to make VP and hitting MD is usually for the ones that put in Analyst/Assoc hours while being a VP. Then you become MD and have group heads breathing down your neck to perform or you will be canned. You’re constantly needing to outperform and the bar only goes up so if you don’t enjoy it then every year just gets harder. You’re not challenging yourself as much as you are just trying to keep your job.
Starting a company is hard and definitely higher risk and you most definitely have to perform but if you are passionate about what you are creating it should be fun to challenge yourself. These are just my thoughts on your comments, not trying to rub anyone the wrong way.
When you realize you have to discount that 600k and add in the taxes and col (NYC fucks you hard) and the time it becomes useless because you work. You also add in there's kids that are making that at 21-24 with potential to make 1mm+ by 25 because they started an business instead of being a sorry ass fucking pussy working in this industry. This industry doesnt give you know real skills to start one. If you want happiness and fufilement leave this industry asap and create your own thing. If not do the ib-->mfpe--->hf and pray you are the best worker known to god so you can create your own fund and invest into people who took risk companies lmaooooo.
Making 1M by starting your own business ? Do you know how hard it is ???? In IB you only need to worry about Excel spreadsheet and PowerPoint decks and answering emails, and trust me that is kindergarten work compared to starting your own business and generating 1M profit !!! To get 1M profit you need at least 8M revenue, because you have all of the operating cost, risk, legal burdens, employee paychecks, and trust issues, conflicts between partners … Even most tenured MDs struggle to bring in 8M revenue after having spent 10+ years in a well-curved path where all of the operation headwinds are taken care of. To start your own business ? That’s like saying “Aww I don’t need to work in IB or PE, I could just start my own fund” or “Awww I don’t want to do medical residency, I could just start my own hospital”…..
Starting your business is hard and risky and unpredictable and even-more-mentally-grueling than IB because there are so many things unknown / un-controlled, and you don’t have an established and trusted institution/ platform to lean upon, and you don’t have senior people to mentor you.
Keep your head up man! It will get better.
Firstly, I'm sorry you're feeling this way. Secondly, because you're experiencing this, it might be a transition to something better. I recently left IB after five years to start my healthcare startup. Seeing the impact of poor eating habits inspired me to make a difference. Life's too short for regrets; unless you try, you won't know. Finding what you seek isn't guaranteed, but introspection, habits like meditation healthy eating, and taking care of yourself will pave the way for mental clarity and good ideas. Consider hiring a coach or professional for support. Remember, this forum might not have all the answers, so take any advice with caution. Only you truly understand your situation. Wishing you the best in your journey and I hope you find your answers.
How did you go about development of your idea —> starting a business —> going to market and scaling. Been in IB for awhile and made associate, but been thinking about wanting to go the entrepreneurial route and I’m always interested in hearing how others did it
Similar experience, tough it out. Hated analyst and associate years but now I make 4-8m keeping the juniors busy.
Do you mind me asking if the $4-8M range is an average salary for an MD at a bulgebracket?
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