is the grind worth it?
Currently @ a top UG B-school and considering dropping out and going to community college. I'm so disassociated with the high finance life and I think that all the money in the world means nothing if you aren't happy. I really don't think that top IB to top PE and just grinding 80+ hour weeks all your early life for a pile of money is worth it if you don't have time to do the things that you truly love - hang out with your S/O, spend time with friends/family, go to the gym, play sports, etc... The program I'm @ is very finance focused and I would much rather go to a state school and have a good time and study engineering and get a job in tech and just chill. is a Would love to hear about any of your experiences/similar things people in finance have thought about? Would love if I could call anyone that has been in industry and talk about this.
Speaking from an European POV - if only there was even a pile of money
So what's the point???? Go on a hike, go travel, do something that lets you have free time and lets you do things you love
OP here - I think from the people that I've talked to in this industry (finance in general), it rewards you handsomely in career options and in financial compensation if you are able to make it a long time. However, those who are able to stick it out often have problems in every other aspect of their life sans career - no wife/girlfriend or kids, no WLB, no hobbies, no happiness, and a lot of substance abuse issues. Not a life I want to live at all. I do love publics and could work 80+ hour weeks and enjoy myself, but I love spending time with people that I love and care for more.
Respectfully, do you even have an SA offer? Like you are going through a burn out phase before you even started the journey?
Also tech is NOT a chill path. It’s mostly some grass is greener shit from WSO. Unless you want to be some IT guy at some non-tech corporation.
I think you should be more open minded since it sounds like you just started college. Try things to see what you like instead of going off of anecdotes from strangers.
Worked at a HF last summer and worked like 3 85-hour weeks and the scary thing was that I LOVED it. I loved the stimulating work and finding an edge for my own ideas. I know I'd hate banking but I know if I got my exit to a HF, 20 years would go by and I'd realize that I'd be unfulfilled with my personal life and that's a terrible life to have.
I run my own business now after having gone through investment banking, consulting, and corporate development, grind. It is worth it early in your career. The opportunity cost is not that high, especially if you’re in your early 20s as a guy, you aren’t even sacrificing your prime, social life years, and unless you have some incredible skill like out of this world software engineering (I’m not even sure this is relevant anymore with AI, but I don’t know a lot about this) then it sets you up on a path of credibility and financial stability (if you don’t blow all your money while you’re making it). I live all around the world now working online for myself, but it would not have been possible if it weren’t for my target school and career background.
as a long-term career is where it starts to get a little more nuanced, giving up five years is one thing, giving up 30 years is another. as you probably gathered by reading this forum, The hours don’t get better as you move up the ladder, there is noticeably less grunt work, but the pressure is on you to win and close deals. That’s a stressful life and can definitely take a hit on your relationships, family, life, and health. But the financial reward is certainly glamorous. everyone’s definition of success is different. For me, it’s having financial stability in combination with freedom and the ability to be a present partner and Father, but again, everyone is different.
Curious how you got to running your own business after the path you took? Current IB analyst wanting to do the same thing. Thanks!
Ignore my title, I run my own business too. Completely unrelated to my finance career lol, but it made sense for my skillset. I love being a jack of all trades; that's what an entrepreneur should be. I started my own business in the past and got an idea from that for a better business on the B2B side so I went all in. It's been so fun and I love sales/marketing 100x more than finance and get to really eat what I kill.
If you have any entrepreneurial bone in you at all, do it as early on in your career as possible and don't quit. People on this forum are super risk averse so don't listen to most of them about starting businesses. If you start a business before the age of 30, you'll be so insanely ahead of everyone if you still with it it's crazy.
Curious if you could share what skills / how they helped shape your entrepreneurial journey and how they help you in being an operator?
How long were you in investment banking, consulting, and corporate development? What were each like? I'm in IB right now and much like you, want to be a jack of all trades and start my business one day.
Happy to help here:
1 year in IB at a lower-tier BB
1 year in T2 consulting, where I focused on TMT and financial services (this was a deliberate move - I knew I wanted corporate development and a mentor told me that you have BOTH IB and Consulting - you will get interviews anywhere...now, if you like your IB team, you definitely don't need to do this, but my team was very toxic and sweaty so it was a nice excuse for me to leave)
3 years on a top-tier F100 corp. dev team
I then started a career and college admissions consulting business as a side hustle that then made enough to become my full-time job. I want to be really clear - I LOVE my work, but part of my motive to do this was also for the freedom. I was VERY frugal - I don't care for "social status" or "flexing", so I had the financial freedom, in part thanks to the big bull run the past 5 years, to do something on my own. I get to live all around the world now, and I met my partner abroad, so we get to be closer to her family (traveling to the U.S. from another country is very, very hard right now). I'll never be a giga-millionaire with a ~$50M net worth, but honestly, my quality of life is higher in Asia and Latin America anyway with a fraction of that money, so it doesn't really concern me, but everyone is different.
Happy to field any questions if you have them.
Literally same
Tbh if I got laid more or had a gf when I was younger I probably would’ve picked something more interesting. Now I still don’t get p*ssy but at least I can buy a house, afford hobbies, and basically do anything whenever I want. I am 10yrs out of school (not analyst 3).
I like underwater spearfishing, hunting, shooting clays, and playing tennis / squash. I can go to any concert or sports match whenever I want. I own property (two small homes - a beach house and a place with a lot of land that’s not near anything else).
On the other hand, if I had a girlfriend I’d probably not need so many things to fill my time & tbh have fewer hobbies and would rather spend time with them. But at least I won’t grow old and be poor.
This lack of affordability dynamic will only worsen over time if the US runs 7% deficits. There won’t be a day of reckoning, it’ll just slowly get worse. Decide what kind of life you want to live and understand it may require some trade-offs.
NOPE
No and I regret going into IB
How bout just stay where you're at and get a more chill job lol
del
Follow your heart amigo. In all likelihood there is no pile of money waiting for you anyway.
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