How do I take my foot off the gas? (AN1)
Definitely not planning to stay in IB past 2 years and bonus band at my firm is ~15k; even bottom bucket got paid very well this year. My question is twofold then:
1. If promotion and compensation incentives are out the window for me - is there anything to lose from trying less at my IB job and dedicating my time elsewhere? It seems, logically, that it makes the most sense to try less at this job and focus more on prepping for my future job; I mean how much of the head-down PPT execution work is really going to transfer beyond my analyst stint? (e.g. rather than being ultra-responsive or being able to build a flawless deck in PPT, spending my time doing PE modeling prep or reading about companies / thinking big picture)
2. Most critically - how does one do this? I find it extremely difficult, although I accept this mode of thinking, to act on it. I find it impossible to not care or give less than 100% on the tasks I am given, even knowing that all that extra effort is really for - at least on the surface - is a few extra k's on my bonus. How do I not care - so I can not only live more comfortably at work, but use the time to my advantage?
I'm not sure that I'm going to be giving you advice that you'll love to hear but here it is anyways: you need to have the exact opposite mentality for the long haul. Whether you stay in IB for your whole career, move to PE, become a founder, or go into corporate finance roles, you'll need to care about what you do and be consistently good at it.
In every role, in every industry, you do not want to be putting in half effort and an incomplete work product. That is the surest way to get fired or lose credibility as a trusted worker. Instead, focus on what you can do to make "perfect" work product consistently and then streamline it and optimize it through experience and tools to make it the least amount of effort possible to produce those outputs. Over time, you'll spend 30 minutes on something that might've taken you 2 hours before and you get that time back.
It's a good thing that you try 100% on your tasks, don't stop doing it. Choose a job that 100% of your effort doesn't equate to endless work before you choose to stop giving 100%.
Holy sage advice
I agree with the other poster about getting things done and getting them done right.
That doesn't mean everything requires your 110%. That's how you burnout. The principle is don't let perfect be the enemy of good.
Bear with me, it's day drinking Friday.
I'd argue that once you figure out how to implement the 80/20, you'll not only find balance but also success. Focusing on what's important drives outcomes > focusing on every little nit. If 90% effort is all that it takes to get something done well enough, not perfect but enough to get the job done, that's 10% of your energy that compounds over the multitudes of pitches, deals, etc.
I know its tough to do as an analyst. The key is to figure out what is important to the banker you're working with. Some people don't give a shit if logos aren't perfectly aligned. Some people care more about formatting than substance, others about sensitivities and iterations of analysis than market commentary. Any and all variations in between.
You not only save the effort / energy, people notice when you deliver aligned with what is important to them. It's certainly worked for me. Top bucket is not always the people who work the hardest.
Et consectetur voluptas quas sint temporibus sit. Expedita quia beatae dignissimos recusandae molestiae enim animi. Consequuntur eum est debitis minima numquam.
Eum ut velit laboriosam iste neque cumque aliquid harum. Dignissimos deleniti placeat minus illum ea autem ipsa unde. Repellat aliquam inventore vel accusamus est sed et saepe. Omnis sed non doloribus repellat harum enim qui.
Veritatis possimus aspernatur necessitatibus animi. Iste ea aliquid voluptatem magni.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...