Hate IB? Why not join a different bank or group?

Hello fellow monkeys,

Over the last few years as myself and close friends have entered into the IB world, I can't help but notice a couple of major themes: 1. Experience varies wildly from bank/group 2. Analysts tend to throw in the towel before considering whether IB is a potential long-term career for them

Regarding the first theme, it seems that your bank/group has a wild influence regarding your overall hours and experience. For example, I know some friends in coverage groups that work an average of ~70 hours per week, and others that work 90+ hours per week. They roughly bring in the same comp (5-10k delta). I know this point may seem obvious, but please hear me out as I tie this point into the second theme...

Now, regarding the second theme, I've seen a shocking amount of co-workers and friends at other banks leave for a buyside gig. As you may have guessed, the majority are from banks/groups with relatively long hours (the 90+ hour bucket). Many of these individuals really aren't outstanding at modelling or idea generation - they just simply jump ship because they have the opportunity to do so, and are sick of the banking hours.

So, my question is... why leave for the buyside instead of simply lateraling to a group that has a better lifestyle? Arguably you could make much more money as the majority of banking gigs do not require an MBA for advancement, and we're also beginning to see accelerated promotions at various banks. Additionally, it seems that the lifestyle banks/groups share similar if not better hours relative to many buyside gigs. If you're not an individual who gets off on modeling and DD all day every day, and is more interested in relationship/business development, it doesn't make sense to me as to why anyone would leave banking and not find a bank/group that is fit for them.

My theory is that many of the individuals who jump ship must assume that all banks/groups share similar hours/lifestyle, thus making their decision to sign a buyside gig much more reasonable.

Has anyone else ever shared these thoughts? For the buyside guys - do you wish you would've considered lateraling to a lifestyle bank/group instead?

Looking forward to reading your responses.