I started my banking career later than most. Did a few years and eventually like everyone else, was focused on exiting. I just didn’t know what I wanted to do, I forced myself to interview at multiple PE firms, do a bunch of case studies, interview at Hedge funds and even some corporate finance roles. None of it felt like it would make me happy.
A mentor MD of mine gave me advice as I went to him and told him I wanted out but just didn’t know what to do next. He told me to take a piece of paper, not your phone, not a word doc, paper. At the top list the top 3 things you wanted most of your next career. For me it was work life balance, high earning potential and working with people. Then he said to write out what you are good at and what you are not. After that, what you like and dont like about this job or any. Once you have all that, look up careers that fit your goals, likes and skill set.
I spent weeks trying to find something I would want to do and fit everything. I was so focused on the usual pit stops after banking and couldn’t come up with a solution. Eventually I came across something which at first I was very skeptical about but after doing the exercise I found out that I would fit well as a financial advisor. So I set out to do just that and I’ve never been happier. I’ve built my practice to work with bankers and PE given it’a my background. I’m able to be a husband, father and still make as much money as I could dream of. My clients are all amazing smart people within the banking / PE world and call me for everything they need and I love that.
The goal of my post if for 1. Maybe inspire others to take on the same exercise my mentor at the time gave me and 2. Keep an open mind that you mind some across something you never thought about or thought to yourself to even consider and it would be life changing.
Don’t have to follow to status quo, do what makes you happy and get out if you really need to.
Based on the highest ranked content on WSO, here are some key takeaways from your experience and advice:
Self-Reflection Exercise:
Research and Exploration:
Personal Experience:
Inspiration and Advice:
This approach can help others in similar situations to find a career that not only fits their professional skills but also aligns with their personal values and goals.
Sources: BB Analyst Impacted By Layoffs - Looking for Insight, Life after Investment Banking, part 2, Life after Investment Banking, part 2, Advice From an Advisor to Senior Wall Streeters, If You're Stuck Choosing b/w Consulting and Banking, DO BANKING
Congrats man, sounds you found a great path. Could you share how you got started as an FA and are you independent or with a wire house etc? how long did it take to get your book going?
My buddy is now reaping the benefits of playing the FA game well and it seems very appealing - but he had some very lean years the better part of a decade that most couldn’t survive (his parents helped him a great deal otherwise no chance he could’ve kept going imo).
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