Feels weird having a job
got my RO couple weeks ago
just been smoking weed every single day and going to the beach. Feels so weird. I'm gonna be a loser for the 6mo after I graduate, probably live out of my car and drive across the us. EB so signing bonus will cover my expenses for the year.
earning this much money at my age feels ridiculous. im almost gonna make as much as my dad as a 22yo dumbass who still drives high to mcdonalds at 2am. feels horrible seeing these people slave away doing real, legitimate work earning a quarter of what we make (and supporting entire families with that income)
My girlfriend's family doesn't come from money at all. thankfully they dont really know what banking/Wall Street is, but sometimes they'll talk about "private equity" and how their coworker was laid off bc of a buyout.
what is it all for? Making 200k to reduce people to "employee IDs" on a RIF diligence request for some shitty PE fund that can't even keep its portcos afloat? sitting on calls with lenders where some dumbass argues about 5% of equity value on a stupid dtc company that will be worth $0 in 3 months time?
im not a lib/socialist whatsoever, quite the opposite. seeing asset managers/PE funds/this whole PMC class destroy America is terrible. like that fraudulent mckinsey study was used to push SO MUCH DEI bs. Blackstone buying up a ton of sfh because their cost of debt is far lower than Joe mcdonald spent 2 years saving for his down payment.
anyways just a dumb rant
It sounds like you're grappling with some heavy existential questions about the industry, your role in it, and the broader societal impact of high finance. Based on the most insightful WSO threads, you're not alone in feeling this way. Many in IB and PE have expressed similar sentiments about the disconnect between the work they do, the money they earn, and the broader implications of their industry on society.
Here are a few key takeaways from others who've shared similar experiences:
The "What is it all for?" Question
Many professionals in finance hit a point where they question the purpose of their work. The grind, the money, and the prestige often feel hollow when juxtaposed with the real-world impact of deals, layoffs, or the broader economic consequences of certain transactions. It's a common theme in WSO threads—people wrestling with the moral and existential weight of their careers.
The Disparity in Earnings vs. Work
Feeling guilty or conflicted about earning significantly more than others who do "real, legitimate work" is a sentiment echoed by many. Some reconcile this by focusing on the opportunities their income provides—whether it's supporting family, saving for the future, or eventually pivoting to something more meaningful.
Burnout and Disillusionment
The industry can feel like a hamster wheel, especially when you're young and questioning the long-term value of the work. Some threads suggest using the early years in finance to build a financial cushion and then pivoting to roles or industries that align more with personal values.
The Bigger Picture
Your critique of asset managers, PE funds, and the broader "PMC class" isn't uncommon. Many in the industry are aware of its flaws and contradictions. Some choose to stay and try to make incremental changes from within, while others leave to pursue careers that feel more aligned with their values.
Taking a Break
The idea of taking time off to travel, reflect, or just live a simpler life is something many on WSO have considered or done. If you have the financial means (like your signing bonus), it could be a great way to gain perspective before diving into the grind.
Ultimately, it's about figuring out what you value most and aligning your career and life choices with those values. Whether you stay in finance or pivot to something else, the key is to make intentional decisions that bring you closer to the life you want to lead.
Sources: Large Cap PE is Institutionalized Slavery, MF PE is Paradise...LOL, wtf am I doing, You're too fucking privileged., Private Equity Associate Regretting Decision
Finance is a beta profession now, and there is no longer money in it with rising interest rates, AI, and falling valuations. The last thirty years were a complete aberration. Banking was an absolute snooze in the 70s and we are returning to that paradigm shortly.
Don’t think it’ll ever go back to how it was in the 70s just given the velocity of capital / accessible capital in general has disproportionately risen, but certainly nowhere near what it used to be, on the client or the sell side for that matter.
People on this site are too young to understand why Finance was so highly regarded in the first place. The equivalent of finance in its prime is tech today. Downvote all you want, the older users know this is true.
Finance was paradise when it was unregulated and uncharted territory. Financial engineering wasn't a term yet and those who knew how to do it were tinkering with different capital structures and buyout strategies. The upside was so high because the risk was so high. This is similar to tech start ups today.
Finance now is commoditized and for the risk adverse. Everything is structured. Comp is known. Career path is known. Risk is almost exclusively tied to underperformance (barring true recessions, which impact every single career path).
If you want to be the next Gordan Gekko, look to be one of the first 50 employees in a series A/B startup.
Downvote @Pussy galore, all you want for speaking the truth, but I am just going to assume you're an angry 20 year old who just got his first internship in IB and don't want to look at the bigger picture.
I always upvote @Pussy galore
big fan
Agree with absolutely everything. That's why I decided to leave finance, get my CS degree, and go work in tech. Though it's not necessary to have a CS degree if you want to be a founder, I'd argue being an Account Executive is far more valuable since the life blood of any business is sales and having customers + sales background will help you get so much faster to validation. It's infinitely more valuable than being a "cracked" engineer.
Speak, brother...that said, it was a lot easier to be at GS with a massive capital base and some room for error as a derivs trader 20-25 years ago (when I was doing that). I also built a HC tech company with largely my own/co-founder's money before the VCs cared that has done well, but I had to deal with several capital cycles. Capital markets are largely risk on or off, private or public. Dynamics change a lot over the years, but the same cycles with a slightly different focus also repeat.
First 50 employees is entirely wrong - first 5 or the first one.
lame cope lol. (high) finance is still without a doubt the best profession average comp and career opportunities wise for any kid coming out of college. tech is solid for the people who graduated pre-2020 and broke in, solidifying their place into their company and not getting pipped immediately. most kids in tech graduating nowadays cant even find a job. unless you're at the top of the bunch, your cs degree is worth as much as the toilet paper i wipe my ass with in today's market and honestly for the foreseeable future. even if they get jobs, comps for 95% of tech companies don't even scrape the hair of a shitty mm's balls. ai will fuck everyone's career no doubt, but rest assured the swe's at FAANG will be out of jobs much quicker than me or my senior analyst will be.
This is why pump.fun is the next GS
You're absolutely right.
Right on schedule
Go find a job that actually creates value for society instead of extracting it
You're not making nearly enough money to feel this way lolol
I say this as someone with parents that never went to college
Congrats on your job! you'll realize over time that even the most senior and experienced people have personalities and interests outside of work. maybe not driving high to mcdonalds at 2am, but you get my jist... it's just a job at the end of the day. i've found i get along best with people that can view it that way, not the hardos, though my experience has been less hardos as I have moved up in my career. Could be a combo of maturity+seniority, not sure.
Yea, when you have that yacht you'll look back at life and be like wow, I haven't gained real respect, haven't chased what I've wanted but only things to impress others, and kinda have no life
You're so close to realizing it but you've drank so much koolaid that to go back now would make you see yourself as a retard.
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