"Job market so bad I'm actually following my dreams"
Saw this twitter post and cracked up. I think the illusion of being a high earning and high achieving professional has finally cracked for me.
I need not list the myriad things that have changed about finance professions in only the last 5 years - but in short - declining opportunities to get rich and declining purchasing power in HCOL cities with high tax means cost/benefit of IB/PE has completely fallen off. I now find myself with same mentality of others my age, where if there is no way to get ahead (e.g., save for a house) then may as well live and have a good time. RIP to the other soldiers in 'greener' pastures across credit, tech - cause they've also gotten cooked.
AI may also mean my biggest fears are realised where if I am lucky to have a non-IB job at all it's probably gonna be barely six figures. But at this rate - my greatest ambition is not riches but just to see the sunset and sunrise every day - if needed ill go farm soybeans or work on an oil rig.
Ego aside, I also see in the A1 class the top performers are the ones with 0 interests outside of work and therefore no emotional reaction to cranking non-stop 6/7 days a week - essentially a human Claude bot. That's my competition and that life aint for me
All that being said, i don't think it is bad to get a start in IB, which opens doors and gives a good savings buffer. Have also found myself in the weird position of potentially being in lifetime peak earnings in my 20s, but lucky to have a decent amount saved up. Atm like many approaching late 20s, and being encouraged by others on this forum to do so, trying to define how I want to spend that time has become pretty important and realised the juice isn’t really worth the squeeze anymore, I’d rather build a more balanced life
Maybe irrespective of everything above this was the truth all along that the path is an illusion
Would love to hear a counterargument which convinces me to fight a few more years for IB VP but Im struggling to convince myself
It sounds like you're grappling with a very real and increasingly common sentiment in the finance world. Based on the most helpful WSO content, here's what you need to know:
The Declining Allure of IB/PE: You're not alone in feeling that the cost/benefit of IB and PE has shifted. Many professionals are realizing that the high earnings in these fields often come at the expense of personal time, mental health, and long-term fulfillment. The rising cost of living in HCOL cities, coupled with high taxes, has made it harder to translate those earnings into tangible wealth or a better quality of life.
The VP Dilemma: Reaching VP in IB is often seen as a turning point. While the hours may improve slightly, the pressure to perform and bring in revenue increases significantly. Many VPs feel "stuck"—too senior to pivot easily to other industries but not yet at the MD level where the financial rewards might justify the sacrifices. As some WSO threads highlight, the VP role can feel like a trap, especially if you're not passionate about the work.
The Illusion of the Path: Your realization that the traditional finance path might be an "illusion" resonates with many. The idea that grinding through your 20s and 30s will automatically lead to a fulfilling life is being questioned more than ever. Instead, professionals are prioritizing balance, meaningful work, and personal happiness over chasing titles and bonuses.
Counterarguments for Staying the Course:
The Case for Moving On: If the "juice isn’t worth the squeeze" anymore, it might be time to explore other paths. Many former bankers have found fulfillment in roles that offer better work-life balance, such as corporate banking, consulting, or even non-finance careers. Others have pursued entrepreneurial ventures or passion projects, leveraging their IB skills in new ways.
Ultimately, the decision comes down to your priorities. If you're feeling burnt out and disillusioned, it might be worth stepping back to reassess what truly matters to you. Whether you choose to fight a few more years for VP or pivot to a more balanced life, the key is to align your career with your values and long-term goals.
Sources: Pick you life - Investment Banking, Making VP in 4 years?, Exit as a VP because lost interest, Questions about VP/D/MD levels at investment banks
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