is IB not actually that much about the money? Is it just more about the lifestyle?

Yeah that's what prestige is bro. In banking (or other elite careers) you have the prestige of grinding to be at the top in an elite competitive field. People do respect that at the end of the day.

How are you making the same amount of money in corp dev as in IB?

What level are you?

They are in no way the same compensation wise (assuming similar seniority level).

How are you making the exact same in Corp dev? I noticed you didn’t mention your before and after comp, even though you are on an anonymous Internet forum using an anonymous handle. What are you scared of?

>I used to think I was only in IB to make a lot of money - but now I realize that banking has an allure that is separate about money - it’s about the image of “being a banker”

get help

Highly doubt you make the same in Corp dev as in IB lol

But if you found some rare high paying opportunity, let me know pls

I'm at the front end of senior (ignore title).

The job does get much more interesting as you get more senior, more flexible, and more stressful -- but a different type of stress.

There are days I think I need to exit to CD, and then there are lots of days I think "I can keep doing this".

CD can probably be great at the right place, but there are also places where you probably do no deals / investments / etc for years on end. I can't imagine how soul crushing that could be to endlessly "look at / consider things" knowing damn well your company won't do anything and you're truly a cost function with no real value add.

It actually isn’t impossible for OP to be making similar money in corp dev. You could lateral into a Sr Analyst/Manager position after 2 years of banking and plausibly be making ~120k salary + 15k target bonus + 5-10k RSUs. This is in line with AN1 comp at most of the BBs this year for mid-low bucket.

How do you make the same money in Corp Dev as you did in banking? Your title says associate, even our IB junior associates regularly make over $300k? Everyone I know that went into corp dev took big paycuts, so I’m genuinely curious how you pulled this off (so I can do the same thing).

men's nature is to live life with intensity, so WLB/comfort was never a path

find this intensity in some other hobbies/etc.

More prestigious to make more with fewer hours. I work maybe half the hours I did in IB and I can actually enjoy my life now. If you crave the prestige / grind, probably better to find somewhere sweatier.

Culture is a huge factor. I think on average you’re going to work with more ‘type A’ / power player guys in top banks and funds. It’s self selecting. Few of those guys would go to corp dev.

Just lol if you think there is some extreme prestige in being a banker. 90% of people outside of finance have no idea what it even means and they either think you give out mortgages to people or trade stocks. Most people I have met that actually know what it is just think I'm a retard for working 100 hours a week instead of doing something like joining a Hedge Fund or MBB. 

The occupations that will actually give you prestige among people are things like being a successful entrepreneur, doctor, surgeon etc. or just having a really flashy title at a well-known company (sorry, "Analyst" or "Associate" does not count as one). 

I feel you, the reasons why I work in IB:

1. The time required, I get so bored when I have too much time on my hands and when I am bored I get kinda depressed me

2. My brain is only stimulated by working a lot, otherwise it just wanders off and I become a potato

3. I love the deal-centric environment, everyday is a challenge and a competition against myself and the clock. This keeps me interested and stimulated

And no, I am not a no-lifer. I have great friends and family, a lovely girlfriend of 5-years and hobbies I absolutely love. Only thing is, without my job I am not happy to enjoy the things in my life. Of course, IB is not the only thing that can fulfill me but for the time being I wouldn’t want in any other way.

I would replace "lifestyle" with "energy", but this isn't uncommon for people who leave IB. I was super stoked to exit IB myself after 3 years, went to a debt fund and worked on one of their sleepier more vanilla strategies and after 2 years was bored senseless. I just missed the adrenaline and comradery of it, sick as that is. 

I felt like the guy from the Hurt Locker when I went back to IB. People are like "why the fuck is he still doing this", I'm just like "Shit dude, idk." Makes me feel something and I may be schizotypal. 

No, it’s about money. The market is just slow right now. Give it ~6 months, activity should pick up. Or not. That’s IB. Stick around for the booms, ride out the downturns, collect your salary, repeat. Be glad you have a job.

I had a similar experience to yours.

My 2 cents:

1. As pointed out by others already, is something missing "at work" or "your own life"?

Though there is an overlap, there is a distinction:

You could enjoy life outside work (just as I did) but the work was slow (picture a snail captured in slow-motion camera), bureaucratic, and, overall, dreadful.

More freedom outside work is good, but insufficient if the work is, in full honesty to yourself, more unfulfilling than not.

Yes, banking has a lot of cons (hours, all-time availability, etc.) , but also many pros (if you're in for the long run, fulfillment, even to the point where you're able to establish your own shop; if you're looking to transition, there are many great career exits: PE, HF, CorpDev, etc.).

Anyway, in my personal experience, there came a point where I dreaded waking up to the CorpDev job: even though I was making a little bit more than in my prior banking job, the job was less intense - in total time, schedules and tasks -, and there was more time flexibility for life outside work, I still felt unfulfilled.

If you think that in your new job the bad outweighs the good, this doesn't necessarily mean that banking was better either; it only means that: i) you can give it more time to see if you really like it or ii) you landed a job that is not well suited to what you're looking for either.

"Allure" lies in the eye of the beholder, which brings me to my second point:  

2. "The image of being a banker"

* To others: most people don't know (or don't care) about someone else being a banker. At most, some remember your absence, but what generally happens is this: you're not mentioned when your SO/family/friends share memories about moments were you were invited, but were not present because of work.

* To you (what should matter most): as long as you feel the pros outweigh the cons, you're good. This is, ultimately, what matters. 

Going back to my experience: I didn't like that work and went back to banking later because I felt fulfilled and I was happy in banking. Keep in mind though, mine is *only* one experience of many out there. Many people may have had second thoughts about leaving banking at the beginning but afterward felt ultimately satisfied / at peace with their decision.

What matters most is how the pros and cons of this new job affect your life overall.

Best of luck and hope these comments help you.

This TikTok summarises the PRESTIGE that IB comes with

https://www.tiktok.com/@corporateweapon/video/7232756287380163845

OP, in short, yes. 

Part of it is the money and the work, part of it is image. Think of every time you see bankers on TV or in movies, always suited and booted, looking great, talking about money. 

However, most careers its about the money, but the money brings the prestige. Think about professional sports, how many people would still be playing or trying to get into them if the average salary dropped to $5, but they started paying accounts NFL salaries?

yawn**