Leaving IB in under a year due to mental health issues?
Hi folks,
Just started my FT role at a bulge bracket in London in one of the busiest industry teams in the bank. Recently, the team's had to do an extensive recruitment effort due to the large amount of deal flow, but until those new people are in place, the rest of us juniors have to suck it up and work hundred hour weeks.
I'll be honest - despite knowing the difficulties of IB from my SA stint, I didn't expect the amount of amount of work or pressure that I'm seeing now. Granted, staffers and seniors have been saying this is incredibly unexpected and that they are doing every effort to improve our lives. Despite this, I'm experiencing extreme depression. I don't feel like a human being, and I get incredibly down in the weekends. Every time I get paid, they're numbers I'm never going to have time to enjoy. I've had to see a therapist on the weekends who thinks my job is sucking out my soul. I don't see a way out until I get out of banking.
My question is how bad would it be to quit due to mental health issues 6 months in? I don't see myself ever coming back to finance, so I have interviewed for a few roles in real estate development (another interest of mine), and the feedback seems very good. Expecting to hear back by end of this week. I know the team will probably hate me, especially if I have to hand off my deals to them when we're so understaffed - but honestly, at this point I see no other way out, and I really don't care about the bonus anymore. What do you expect the fallout to be?
Your own health always comes first. I am sure the team will understand that your personal wishes trump the requirements of the team/dept/company.
There is a huge push in the UK to create more awareness of mental health issues. Key influencers across social media but also larger companies are running campaigns regarding this topic. So your colleagues will (most likely) understand that there are certain aspects outside of our control.
Best of luck to you and get well soon!
Thanks for this gumball! I'm afraid (and this leads to anxiety and further issues) that the team thinks it's part of the job and I should just suck it up. Not a bad team by any means, but I'm afraid of disappointing them.
Agree with the push in the UK for mental health issues. Used to think it wasn't as serious until I had them as well...
The thing about mental health conditions (or any other medical condition) is, that it doesn't matter where they come from. Humans need help when they need it.
Also, it doesn't matter what they'll think of this situation, they are not in it. you will (most likely) never see them ever again.
Focus on your health first.
Can I get your job?
Well they are recruiting...
Mental health first. Take care of yourself!
I feel like a lot of IB guys/gals forget to take care of themselves amidst all the work and stress with their job. Thanks for the reminder!
I gained 10 pounds, look like shit (acne came back) lost all interests outside of work (not even an interest). I needed the reminder too, thanks!
If you get a job, quit.
Don't feel bad. It's not your fault the group had chit culture and hours that drove you to quit and makes it worse for those remining that have to take your staffings
I am really leaning into it, to be honest. Do you think 6 months is ridiculously short a stint?
I had a friend leave under 4 months due to the same issues you stated. At the end of the day, the bank will continue to operate but I think having a I don’t care what happens attitude will help you. I came into banking with the thought that if I do well it will make my life different, then I got slammed and broke down cause I took every comment as a personal attack at my work quality. Switched to a “will do what I have to do and nothing more” attitude and it helped a ton. No one all blame you for leaving but line something up before you do and if you do staffing logs, overstate everything on it.
In 6 months? Were there jokes in the office after that? Honestly quite anxious about this also...
Whole comment wasn’t posted but just updated it. Nah people respect it but I know some friends had push back. State health as the reason and you shouldn’t get much push back maybe a “do you want 2 weeks to think about it” and the. Say yes if that’s the case even if you made up your mind.
Is this TMT at a European BB...?
One of those is wrong, but the other is spot on 😂
Sounds like JPM 's TMT
European BB with 'lean' staffing approach?
I am sorry for what is happening to you, but can I seriously PM you about recruiting there for an AN1 FT role?
Sure LOL
pm'd
Not in IB but have have experienced this through consulting twice. What worked for me was telling a trusted senior person in my team of the trouble I was having, and stating what I needed to be better. For me it was some time off.
If you don’t get the RE gig you’re keen on and are thinking of quitting anyway, it could be worth having the discussion. Plus, it gives you a sense of what matters to the people around you when things aren’t going well for you.
This is a really good tip. When I spoke to my MD, he was very open to how things could change to be better for me and my health, even so far as to offering some time off. I think in general the team wants to look out for your health, and a lot of what you expect in terms of push back or inconvenience you are causing your team can be either all in your head or not as bad as you think it might be.
Agree. I was lucky to have some seriously supportive people around me. Sounds like you do too. Can’t speak specifically for your situation but my reaction is take the time off - eat, sleep and give yourself a break then look at the situation with new eyes.
Don’t feel guilty about taking time off BTW. One of my ex-colleagues I deeply respect said something of consulting on a particularly brutal project (not as bad but not far off the hrs you’re working) that stays with me “we consistently ask unreasonable things of people”. Don’t forget that you’re in a tiny pocket of the world where working these hours is normal. It’s not normal...and it’s so fair to need time off.
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