I won’t keep recommending IB/PE to college kids
This all stems from me being asked to give a talk to a freshman group of students from my alma mater (super non target) who are interested in the field. During the Q&A one of the kids asked if I would do it all again if I had the choice and for the first time in my life I second guesses myself if I would. Sending me into this deep spiral of thought.
Sure moving to a big city and making 6 figures your first year out of college is awesome. Except I think that’s where it ends? What else does this field add to our lives that makes the long hours and diminishing physical and mental health worth it? The pay is even starting to stager compared to other jobs, I was talking to my dad who’s a WS veteran and he said in his days the MD and VPs made just as much if not more than they do now. Middle office jobs are starting at the same base as many IB jobs but they just don’t get the same bonus payout.
Banking also plays a pivotal role in your relationship, coming from a banking family I’ve seen it destroy my parents marriage, my dad’s relationship with his kids and the rest of his family. I’m starting to see that in me more and more everyday and it scares the hell out of me. What’s the point of coming home to a nice house if there’s no one else there to make memories with in it?
This could all be a mid career reflection and breaking point but no, I will no longer say that banking was worth it for me or will I recommend it to college kids. Being rich has multiple meanings, as I have become older Ive started to realize it has less and less to do with money.
Ah, there's nothing like reading yet another daily dose of copium
A good takeaway from this is time is more valuable than money. But I would argue you need more money to use your time how u want to.
Would be willing to bet the majority of people who began their careers in banking and did the typical 2-3 year analyst stint before leaving, would say they were glad that they did it, so I have to disagree here. Those two years from the age of 22-24 catapulted my career trajectory and set a pretty decent floor salary wise going forward, even if I bounce to a chiller gig. Now climbing all the way to MD? that's a diff story
You make a good point. On any other given Thursday I might agree, just was feeling extra burnt out today and we’re only half way through the first month of the year.
Oh yeah trust me, had my fair share of existential crises as well, and yeah, they did always seem to pass quickly.
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