Is banking in the south more sustainable?
Is some level of work-life balance actually possible in investment banking?
I’m not talking about at a BB in NYC, but more so MM banks in the South (Charlotte or Atlanta) like Truist, Citizens, Houlihan, etc.
I left IB a few years ago and am considering coming back at the senior associate level. I genuinely enjoyed a lot about banking, but I didn’t enjoy regularly working until 2am.
For those at MM banks in the Southeast, what’s the lifestyle realistically like? Are the hours materially better, or is it mostly the same with a different logo?
Wells Fargo Charlotte is paradise. You get paid stupid money relative to the COL, so you can actually afford a huge crib and a boat. You spend your weekends crushing Cheerwine, hitting Bojangles, marrying a dumb blonde, then inevitably cheating on her with an even dumber, even blonder girl from UNC Charlotte.
From there, it’s smoking crystal meth, and hooking up with an even dumber even blonder girl with no teeth in a portajohn at the NASCAR race. Then you lose the job, then you lose the wife, then you go to the methadone clinic and find Jesus at a megachurch.
And even then, you still come out ahead of the NYC finance bros paying $6k for a shoebox and bottoming in Hell’s Kitchen when they’re not turning comments from their psycho VP.
Charlotte is fucking paradise.
+1 golden banana for you
how the fuck did someone as creative as you end up in banking
The Bojangles really hit hard. 🤣
Adjusted for COL and taxes, analyst comp is definitely better vs NYC and hours are generally better but you’d be surprised how sweaty some Charlotte/Atlanta groups can get. Also exits are obviously a lot worse. Much better to start off in NYC and go south vs trying to move from the south to NYC. Your ceiling is lower in Charlotte/Atlanta.
Truist and HL and Baird and jefferies offices in the south definitely get sweaty
Certainly if your doing energy, perhaps others can enlightenment me as to other industries really thrive down there.
Yes, when I think of humane labor practices, I think of the south!
Hours are better but not easy. 60 to 70 hours instead of 80 to 90. 2am nights still happen, just less often.
Truist and Citizens are more lifestyle friendly. Houlihan is closer to NYC intensity.
The real trade off is exits. Charlotte has fewer funds and smaller checks. If you want to stay in banking, fine. If you want private equity later, NYC helps more.
Come back for lower stress, not easy hours. Those do not exist in banking. Just less bad.
As someone who works in a Tier 2-3 city, The hours can feel longer as many of your friends and coworkers are probably closer to 40hr weeks. Thus they are doing cool things on weeknights and weekends, while you work. NY its easier to rationalize that everyone is working.
In NYC but have many buddies in ATL/HTX and feel like this is definitely so true
It’s all going to be group dependent as anything. But yes, on the whole banking in the South is a solid gig if you aren’t in to the NYC lifestyle. You will save more and buy a way nicer home with real land.
I work in banking in the South and have been able to own a home and will be on track to retire when I’m 40 if I want, with solid comp not far off from an NYC BB.
Mind sharing the type of bank your at and what you WLB is like? Did you start as an analyst?
Grew up in the south, lived in NYC for banking and PE now back south. If you aren't cool, athletic, relatively social please don't move south. you will not do well and everyone will think you are a weird liberal. Things are cliquey down here similar to the NE and if you don't have connections you won't get into the right private schools for kids, right country clubs, etc. If that doesn't matter to you then great (it really shouldn't), but just be aware as much as everyone on the coasts make fun of southeast people and look down on them, we do the exact same to the coastal people
If you're cool in NYC, you're going to be fine anywhere....much less Atlanta or Charlotte
Mediocre fish in a mediocre pond with a superiority complex about sending his kid to a private school, methinks
methinks you know nothing about the south if you think nyc cool translates to southern cool, but will let you find that one out the hard way. No hate, I love nyc and am sure plenty of kids from there will do well in the south just trying to have OP go in eyes wide open
You in Infra PE?
From a first-year RVA analyst, COL is amazing and you will have the opportunity to save a crazy amount. Exit ops are the exact same (just depend on the bank you are at). WLB is definitely dependent on bank, still plenty of places like NYC and others that are not. In my experience though, WFH is a lot more common and hours are better than what I have heard from friends in NYC.
Do you mean VRA?
Richmond — fringe South
What in the world is VRA??
Agree re culture - def less open and can be quite judgmental/close minded . Whatever I’m prob soft
I'm in NYC but... yea if you're like a high-functioning gay, then I'd imagine it's better to be in the NE than South, but other than that, idk what you mean by "judgmental/close minded".
lol no
As someone pointed out earlier the big difference is that the cities in the South close down much earlier and your friends will all be going to HH at 6 while you are in office til 10 or so. They also won’t understand why you are working weekends while they are at a lake or ranch doing something fun.
Will say you can live like a king but who cares if you are unable to maintain your friendships due to work.
I'm at a group in NYC, but our counterparts in CLT work significantly less hours. Don't have too many specifics but a rough estimate is NYC team clocking 80 hours and CLT clocks 60.
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