Leave $105,000 Financial Analyst job with 20 hour weeks for Investment Banking?

why is this even a question? you have a great life and amazing pay already. Why do you want to sacrifice all the good things for IB

i made a similar switch recently, from a cushy middle/back office role at a HF working 15hrs a week to MBB. i was bored out of my fucking mind at that job and i knew that i would probably have to go to bschool if i wanted to jumpstart my career into something interesting. thats why i gave notice the day after i got my offer

it's not exactly the same as your situation (and as bad as mbb is, it's prob not as bad as banking) but for me, i wanted some certainty that my work experience will actually teach me a useful skillset and lead to better opps down the road. i was willing to move to a new city with few friends and give up my insanely good wlb to do so. so far, i think it's worth it. this forum wont be able to tell you what matters most to you, but it might help to think about it in terms of minimizing regret: a chance like this will be hard to come by again in the future, but you can always go back to your fp&a role if banking turns out to be unbearable. 

You’re going to have to take the IB role. If you think about $/hour, you’re absolutely killing it right now. IB will be a step down from that, even though you earn more.

However, you will 100% regret “what could have been” if you don’t take it, so you’re not really left with a choice here. Just make sure to leave on great terms in case you hate IB and want to go back.

Can you PM me? I’m also in Seattle in a similar situation!

Analyst 1 in CorpFin

The job does have some amazing perks like being able to dress casually, WFH 40% of the time, no state income tax, amazing work-life balance that enables: lifting 6/7 days, getting high daily, reading nightly, watching TV + playing video games daily, financial benefits (401k, HSA, $1250 to spend on fitness), free drinks and I have the best group of friends I've ever had here.

You got your answer right here. The grass is always greener. There is nothing bad or shameful with picking 'life' vs. chasing money and prestige. You only need 'as much' money to live well and be happy, and it looks like you're on a good trajectory already. $145k a few years out of school is a great comp and you can always move somewhere within the organisation if you want more meaningful role. Seen plenty of FP&A people working their way through and joining corp dev, strategy and similar roles. 

Classic banking especially on the junior level is really fucking horrible lifestyle-wise, and I'm saying this as a guy who runs my own small boutique. Think twice before your make a decision.

I would kill for your situation lol

Mate your currently lifestyle is to die for. Don't let the prestige whores above convince you that you NEED to do banking.

If you join a bank, most of those lifestyle perks you can kiss bye bye too. And the work will be equally as numbing - its not all sunshine and lollipops. A good portion of the job is scrubbing random filings for data and implementing minor text changes over 20 useless presentations turns.

You'll obviously get paid more but do you actually need the money right now? You could probably use like 10hrs a week to start your own side business instead if you really wanted more money.

That’s a tough decision. I worked in FP&A for a bit and it was truly boring so I understand where you’re coming from. 

But think about the fact that a lot of ex bankers and consultants go to Corp finance jobs as their exit path. Many in FP&A can make it to CFO.

The other thing you can do is push for more responsibility. Maybe bring forward some new ideas and blast some emails out to seniors to get more noticed. Once people know you you can ask to be involved in the strategy team or something more meaningful.

Some really good perspectives already shared in this thread, but I'll chime in as I was in a very similar situation with my first job.  I spent 3 years with a firm that transitioned from semi-startup to publicly traded company during my time there.  The work/life balance was incredible, all the perks you outlined, perfect travel requirements that let me see the world while not being onerous, etc. etc. etc.  Despite all of that, I was infatuated with banking and pursued every opportunity to break in.

In hindsight, it was purely driven by ego and an inferiority complex.  I have a super blue-collar background, went to a non-target, mediocre GPA, and, until my first job, had no meaningful/relevant experience.  Banking felt like something that was unattainable and that became the primary motivator (that "getting into the club that doesn't want you" type of thing).  

I eventually got that opportunity at a top middle market bank, somehow impressing them enough to be a direct associate hire.  I had accomplished this 'goal' of mine and felt that beautiful feeling of validation.  I could not wait to update my linkedin to present my new status to the world, I had finally made it....  What a load of shit.  

For me, those feelings lasted about 2 weeks and then the reality of my decision started to become clear.  If you've spent any time on this forum, or have spoken with any former/current bankers, you should have a clear understanding of the expectations and requirements for the job.  I certainly did, but it was interesting how I was always able to compartmentalize that reality while pursuing the role.  After 2 years of cancelling plans, working through most major holidays, alienating my friends/family/GF, losing most of my fitness, and really becoming an awful annoying cynic, I left.

Looking back, there should have been no surprises.  Every single person that I spoke with had said exactly how it would be.  They were right, but I didn't want to believe it.  I have no regrets about the decision and I ultimately developed IMMENSELY as a professional.  I learned more in 2 years than I would have in 10 at my prior role, but it fucking sucked.  There is a novelty that comes with being on Zooms with CEOs and seeing your work make the news, but that wore off for me, and I just wanted to see my friends or take a walk on a Saturday without having my ringer on...

I'm rambling and there probably isn't any usable advice here, but I'd take a deep look at your motivations for wanting to get into banking.  If you're set on X and a banking stint can get you there, do it.  If you're like me, and the pursuit was more ego-based, maybe pump the breaks.  Ultimately, both choices you have are ones that most would kill for, so feel good about that and don't beat yourself up. 

I'm in a similar situation although my comp is a little less than yours. I recently got an offer in banking and took it. The work where I'm at is mind numbing like yours, and my true interests lie in PE. I'm not letting myself get caught up in prestige and know that I'll be exiting right after my 2 years to a mm/lmm pe shop where I can hopefully find one that has decent hours (willing to sacrifice comp for this). To me it's worth it as you get to build your skillset in something that interests you. One thing I noticed is that there's a lot of people on here that say "don't go into banking" or complain about how much it sucks (I very well understand it does) but then 99% of them say they don't regret going into it, and take roles that usually only bankers/mbb get. At the end of the day, if you hate your life and decide its not worth it you can always find a comparable firm to the one you're at now after a year in banking. Most tech will stay mostly if not completely remote (mines keeping the option to stay fully remote). But I have a feeling that you'll still have an itch to try out banking/pe in a couple years and then you may have to go drop 200k on an mba to break in...

In 14 months, you're going to make $150K in a low COL city + state working ~40 hours a week or less. That, my friend, is a dream job. Where do you work lmao?

Building wealth is a 2-sided equation. Save most of that $150K and invest it. Instead of working 24/7 in IB, use that free time to jump-start a side hustle or invest in real estate. Make sure you max out your 401K. You'll be golden.

Is this Microsoft? I did not know they paid this much! Regardless, I am interested where you work, this is extremely impressive. Don't leave your job.

you are living the fucking dream. that being said, when you're young you should take risks and try new things. i'm sure you've heard that bezos regret minimization framework but you don't want to be looking back in a few years saying what if i did IB (if you foresee this being the case).

that being said, perhaps also try consider lateraling into marketing or product? those roles pay super well as you move up, have lots of impact and a pretty good WLB. you can use your savings to get involved in real estate investing for yourself if that's an itch you want to scratch with out being on the repe track.

Bro, if only you didn't post anonymously I could DM you.

I am willing to trade my IB slavery at a tOp BuLgE bRaCkEt for your role in a split second ~ COVID-19 Analyst class member

You have down syndrome if you decide to switch to IB

I faced a similar situation as yours. I just want to reiterate some of the points that have been mentioned above. Your motivation to make the change have to be sound. Many people go after IB because of the money and prestige despite no interest in the actual work. The hours will quickly burn you out if that is the case. However, if you have a deep interest in deal-making, the hours will be much more manageable.

Additionally, you should evaluate where you want to be in 5 years. I am a big proponent of having a 5 year plan - even if that plan changes every year (or sooner). If you continue in your role and don’t take a chance on IB, are you going to regret it? If you do decide to leave, do you have sound relationships that will allow you to boomerang back in the event IB isn’t what you wanted it to be?

Personally, I decided to make the leap of faith. I have an interest in deal-making, IB is a step in the direction I want to take me career, and I left my previous job on a positive note and have full confidence they would welcome back if I wanted to return. I knew that I would always think “what if” if I didn’t try my hand at IB. For now, I’m happy with the decision and know I have many opportunities available to me - my old job, as well as new opportunities I didn’t have before. After some reflection, you will determine what’s best for you. And as others have stated, both are fantastic opportunities.

FOMO is a powerful thing

Honestly I would stay, you are in a fantastic situation with free time (and room to progress in your current role). You are going to hate your existence in IB. Use all of the extra time right now you have to develop skills or develop a side hustle. Do part-time school or something, try to start a business, etc. 

You have the time to start something on the side (ie. real estate) and make 2x+ what u make now, take advantage of it

Stay where you're at - if feeling like your work has no meaning or purpose is an issue, investment banking is not the solution.  You'd be hard-pressed to find a handful of junior bankers w/ at least 2 years on the job who genuinely believe/feel that the work they do is meaningful.

Look, determine where you are, where you want to be, and what you will have to do to get there.  I always say it would be saying to Steve Harvey, I want to host Family Feud like you, and he tells you, go to do stand up on the road for 8  years, sleep in your car, make no money, eat shit food, and maybe you'll get noticed.  

What will you get out of banking and you're current job won't give you? If your current job paid you $2M a year, would you go to banking? If you really want to try it out, regime yourself, finish your current job, then come home and start your "second job", could be anything,  just test yourself on handling the hours, almost as a trial run. I'd also say, you make it sound like you have a lot of time, so maybe you could start a business or get heavily into investing with your free time (as said above). Imagine if you had your current job, and then two other jobs that you could work when you wanted to make more money.  

Couple points:

- I've worked a bunch of jobs, I've been in your shoes and in banking. I've been in jobs where the pay/hours aren't bad, the more is mundane, and people show up just to talk about what they will get for lunch for 3 hours, just to eat and then talk about what they will do when they get done. I've been in banking where you work two days straight and no one cares. 

- Outside of probably professional sports and acting, investment banking is probably the job that perks most people up when you tell them what you do. Doesn't mean they have any idea of what it is, just means you make a lot of money so people like that, but don't feed into that. There's plumbers making money too, but regular people don't know that as lucrative. 

- As stated above, FOMO is a real thing, but think about where you want to be in 30 years. Also as said above, you could save more, sometimes that means cutting expenses as much as making  more. 

You have two options (adding some advice for your potential path in #2):

• Move to a city where you don't know anybody and you will lose your physical fitness, friends, free time, and probably your mental health.  In doing this, you will get to exit (read: might get to exit and find another perfect job) that ties back to your life's long-term career goals.
• Enjoy the incredible quality of life you've built for yourself where you're making more money than your peers and likely work less.  Use your $$ and quality of life to take the GMAT and apply to a top 10-15 MBA program.  In the meantime, build career progression and save up money for MBA.  Apply to MBA, network to exit into REPE/PE, then exit into REPE/PE.  Still achieve your life long-term career goals.  

Up to you at the end of the day, but seems to me like the 2nd option sure is a less stressful way of doing it (just by reading your post/concerns).

You had me at 'getting high daily..' Could you please pm me? I'm an SA in IB and am looking for exits into decent-comp-great-WLB roles like yours. Thank you!

For the love of god man stay where you are, and if you don't I'll trade you for my IB role. 
Working less than 40h for that pay? Dude spend your free time working out, getting a dog, reading books, banging your girlfriend, living a happy normal life. Jesus you're living the dream. 

Could I DM you to talk about your experience?

I would definitely not go to IB in your place. What exactly do you think you will gain from the move?

Money? You can just drive Uber in your spare time and you'll make more in total with your current job. IB pay per hour is notoriously bad.

Meaning in work? IB has no meaning. Look at the forum - everybody calls themselves monkeys and apes, and it is for a reason. It is a monkey business and you're just an excel monkey. You don't need a degree to do this job. It doesn't matter in a global scheme of things. You're not making the world a better place by facilitating monopolies through M&As.

Prestige? Nobody outside IB knows what IB is. And if you tell people you're a banker, they'll assume you're either a teller, or an asshole, or both. So bankers just say they work in finance. Which is where you're at as well.

Exit opps? What exit opps? To keep working 100h/week until your body malfunctions and you hit the ground? I dunno if it's the best way to spend life.

Hey bro, I went from BB internships to a FAANG finance role for FT. Happy to share my perspective if you DM me.

Unfortunately for you, I have the feeling that only by taking the IB job you'll realize you should have stayed.

Also, it's cliche but I think the Investment Banker / Mexican fisherman parabole suits your case quite well, so I'll leave it here again in case you haven't heard about it:

An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.

The Mexican replied, “only a little while.”

The American then asked why didn’t he stay out longer and catch more fish?

The Mexican said he had enough to support his family’s immediate needs.

The American then asked, “but what do you do with the rest of your time?”

The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siestas with my wife, Maria, and stroll into the village each evening where I sip wine, and play guitar with my amigos. I have a full and busy life.”

The American scoffed. “I have an MBA from Harvard, and can help you,” he said. “You should spend more time fishing, and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, and eventually you would have a fleet of fishing boats. Instead of selling your catch to a middle-man, you could sell directly to the processor, eventually opening up your own cannery. You could control the product, processing, and distribution,” he said. “Of course, you would need to leave this small coastal fishing village and move to Mexico City, then Los Angeles, and eventually to New York City, where you will run your expanding enterprise.”

The Mexican fisherman asked, “But, how long will this all take?”

To which the American replied, “Oh, 15 to 20 years or so.”

“But what then?” asked the Mexican.

The American laughed and said, “That’s the best part. When the time was right, you would announce an IPO, and sell your company stock to the public and become very rich. You would make millions!”

“Millions – then what?”

The American said, “Then you could retire. Move to a small coastal fishing village where you could sleep late, fish a little, play with your kids, take siestas with your wife, and stroll to the village in the evenings where you could sip wine and play guitar with your amigos.”

 Good luck with the IB job, you'll certainly need it.