Want to understand the impact of pursuing a career in IB has on your lifestyle. I know it varies and there's many variables/factors that makes everyone's case unique but I want to hear them all! Some high level questions would be, was the money life changing? How has it affected your social life? Did you receive more respect from your peers?
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Majority of people outside of finance don't even know what Investment Banking is. Hell, half of finance majors do not know what IB is..
I'll preface this with my situation first:
Parents were very poor growing up; never really had money. Went to a non-target school (self funded with scholarships and working, no debt or help from parents) and found a solid group of 4 friends that are ride or die. Did my first year at an EB, then moved to a regional boutique in year 2.
The money is certainly life changing for me. I enjoy saving, having financial security, and also some play money to go on trips. Social life- I've definitely had to cancel many plans during the past 18 months, but it made me realize who is worth keeping around in my life for friends, and really made things better in my perspective. Also have a long-term, very understanding girlfriend. For respect- nobody outside of finance really knows what IB is, so not really. They'll know you work hard, but I wouldn't say this is a very big factor. I do feel like my career is making great strides compared to many other peers not in IB
To summarize, I definitely think it's worth it. Enjoyed my stint in EB, now content with the regional boutique I work at
What was the motive for the move from the EB to regional boutique? Better culture and WLB?
Yes, those are a few things. Constantly worked 80-90 hour weeks, now working 60-70, and it feels much less like work because of the people I'm surrounded with. Culture is fantastic, and I'm still working with smart people. The girlfriend wanted me to slow down, which was totally understandable. Pay is slightly below market, but the trade off is very much worth it to me. my bank also pitches much less than I ever did, so I feel like my work is more impactful as I'm not doing meaningless pitchbooks. Regional boutiques are underrated in my opinion.
Great story and thanks for sharing! You ever intend on leaving the industry? Say the compensation you earned so far or will earn helped/helps you achieve some type of financial stability
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