Hi there folks, been some time since I last mingled around here.
So here's my story: Used to work in M&A for a bulge bracket bank, first in a LatAm country (despite the fact that I am European) and then in NYC. My experience moving to NYC was so bad that I left the bank within months, despite having good reviews and being on the verge of receiving my associate offer. I did not like the kind of person this industry was turning me into, and the future prospects it offered.
All that ambition, all those desires of being the very best of the pool and get deals done, was gone. I opened my eyes to the fact that my and my employers' contribution to the world was far from Accretive and decided it was time for me to think of something new.
The same day I quit I learnt I was going to be a father, so we moved back to our home country and I took a gig on a local MM boutique to pay the bills while I thought of the next step. Working here only validated my previous analysis. Additionally, I was so fed up with the finance/corporate world that I realized I needed to do something completely different, so I started to reminisce about the stuff I liked as a kid.
And that's how I came up with the idea of becoming a cop in my home country. We are talking about national corps, so think about FBI, Gendarmerie and the like.
I understand this is a rare step, so happy to answer your questions if you have any.
I don't want to be sitting on my ass in an office doing something I don't care for anymore. I've had 4 years of that and was enough. I was looking for something mainly practical, where my actions and decisions make a difference.
Just my personal opinion here. I would like to bring up a point. Office job does not mean that it is not making a different. For your case, let's talk about the Osama bin Laden when he was killed by a US special forces military unit on 2nd May 2011. Do you think that it was the guy who pulls the trigger who really made a different? I am sure there was an entire network of intelligent team that was combing through all the data and was going through boring slide presentations to make their case on how to go after Osama bin Laden. I think that everything in life is boring (at least the process is) > the more important thing is to what end (i.e. killing Osama bin Laden vs making a few already rich client richer). Plus you are going to be a dad soon. Are you comfortable making your wife wait every day at home don't know whether you will be able to return home safely? I don't think you can do that if you really love her. Another thing is that as a role model to your son, you don't need a cop to do that. A role model means someone who stands for something, someone who is willing to do everything to protect and provide for their loved ones. And to every father who is doing everything he can to provide, care and love for his own family is a good dad and a good role model.
Moving from one career full of narcissistic assholes to another career full of narcissistic assholes.
Except one group actually does shit that can sometimes truly make a difference while the other licks asshole for deals and spends most of their time back slapping others.
Great backstory.
Curious as to what kind of role you are in. I'm sure there is overlap, but do you investigate white collar crimes (financial/securities fraud/laundering), deal with more traditional illegal activities (drugs, smuggling, etc.), or perhaps work in intelligence?
Again, this comes back to my comment below about how you seem to think finance roles are not important, even in law enforcement!
White collard crime units do everything from tracking and disabling terrorists to blowing the lid off of Ponzi schemes that are stealing money from innocent people. You're well educated, successful, married, with a kid but you have the intellectual depth of a high school student. I don't get your kind of thinking.
Seriously? You put down an entire industry as "not Accretive" (by that you mean "serves no purpose to society") and you're pissed off that someone would call you out? I "insulted" your language skills after you insulted me by saying I know very little about the industry (which is a f*cking joke, by the way).
Instead of acting like a little bitch, why don't you man up and prove to me how much better educated you are in the field than me. Man up and defend your asinine position that investment banking serves no purpose to society. Explain to me why well educated wealthy people throw their money down the drain for a product that doesn't serve them.
My wife and I are thinking of my savings as a complement to her salary (she will take the exams to be a public school teacher this summer), so we should be fine without a huge amount (20-30k), specially considering the cost of living here vs. the US, for example.
We are already taking measures to downsize our level of expenses: we are moving away from the capital downtown to a suburb about 50km away, where we have relatives that can help us with domestic stuff while my wife works and I study.
For some time I considered VC as a potential alternative, until I realized that it would be in the same position a couple of months down the road (office work, excel monkey, little value added in general terms, long hours, etc.).
I am from a Southern European country affected by immigration, if that helps you to have an idea.
Report back in 5 years and see if you still like being a cop :)
Even if I don't like it, it will be about doing something I don't like 30 hours a week, as opposed to doing it 100 hours.
What exit ops do cops have?
If I was your friend I would be asking you "What the hell are you thinking?" and trying to get you to reconsider your move. I think every person should pursue their dreams and being happy is, in many ways, more fulfulling than just money but hear me out.
IB is a very tough career, there's a lot of very smart, talented, and successful people that work in it. The career opportunities are great, as is the compensation, and exit opportunities are numerous. Why go from being a top paid private sector professional to a government job I could train a chimp to do?
If you didn't like banking, you could still exit years later and do something great with your life in another way if you stuck it out. You're obviously a reasonably smart guy, why not med school, engineering, etc,? A cop? Do you have family (wife, kid) to care for? Have you thought about how stepping down the ladder that much will impact them, and if you don't have family to care for have you thought about how it will impact your future?
Totally understand people want to follow their passions, but I think this is a case of wasted talent. Best of luck to you in life.
Thank you ThrowaDart, believe me when I say I appreciate your words and hear what you are saying.
This said, there are a couple of things I would like to add some light on:
Of course, IB has its perks, I enjoyed them and enjoyed hard. Some of my best years in personal and professional terms were spent working in banking in Latin America. This is way beyond a "I do not want to do banking anymore" rant. And if you believed that for a second, I failed miserably on conveying the message I wanted to.
Secondly, I strongly disagree with your point saying that this is something a monkey could do. I have met very smart people in the corps or willing to join them, including some PhD. Perhaps you are overestimating the intelect of bankers (which I can say it did not impress me, though I met some really smart kids), or just perhaps do not know much about the type of job we are talking about, either case your comment seems a bit unfair.
Thirdly, what makes you think that talent can only be put to a good use at a high earning job? What if I want to develop my non-profitable interests? Using my intelligence for something that does not provide an income is a waste? If that is your opinion, I have to say I could not disagree more.
Finally, with my income as a cop and my wife's (who even if I stayed as a banker would work as a teacher, she just is in love with her job) we would still be far above the average household in mu country, and would provide for a more than decent living. What else do we need? We are from humble origins, not very into saint tropez or dining at Daniel every month.
At any rate, let me insist that I do appreciate your comment. Not having reality checks would drive to a irreflexive decision-making process. All the best for you too mate.
Perhaps our countries are different, but in the US cops are generally people that barely finished high school. It's not a job that takes much intelligence, it just simply isn't. I didn't want to convey that I was only suggesting high earning jobs as the other opportunities, doctor and engineer just came to mind because they take intelligence.
If you want to start a non-profit and help sick children or impoverished people, do you think you'd have a better chance of succeeding in this effort as a MD of an investment bank or a cop? You and your wife may be humble and may be able to live comfortably on just those two salaries, but wealth is freedom. God forbid she or your kid becomes sick, or you need to leave the country, or a thousand other unexpected thigns come about, having more wealth with a better career only benefits you and your family. Humble or not, it could very well be the difference between your children going to a top school or not and having a better life.
Appreciate your kind reply, have a good one!
"train a chimp to do"... Ridiculously ignorant statement to the men and women who keep us safe in our home environments. Yes, I too get speeding tickets and get pissed about it. Yes, there are police who abuse their power. But I for one like living in a country of relative order. One where I can call someone if there is an intruder in my home- where there's a pretty good chance that I won't get car jacked in most areas.
So take it easy on the chimp comments and be happy no one has jacked your starter Rolex getting off the subway yet.
Finally something refreshing. Most fools on this site cannot comprehend how someone can leave M&A and move into another job. Too many mechanical thinkers in finance (AKA mindless drones)
I for one salute you sir, for following what you really want to do!
Nah, I went to a couple of presentations of top ten schools and even enrolled for GMAT back in my BB times, but the only thought of surrounding myself by more overachievers and going through the same standard recruiting processes over and over again made me cringe...
You really want to write speeding tickets, pick up people for DUIs, settle domestic violence disputes and shit like that? Then surround yourself by a group of assholes who are just high school graduates? All they want to do is go to a bar and get plastered after work. All of whom will view you as an elitist asshole for no other reason than you're different. Not to mention the mediocrity and bureacracy that you'll be dealing with.
You have nothing in common with these people. Do you really want to submit yourself and family to that?
You probably did not read the opening post through the end. Federal cops do not handle traffic, and have morr specific/technical competences. Also, I mentioned it earlier in the thread: for the position I am applying to, having a university degree is a minimum requirement, so I am not really sure what are you talking about.
About the 'getting plastered after work' nonsense, that's funny, you just described the analyst pool of a bulge bracket bank.