Long Term IB Career Insights? Considering other options.
Hi everyone, I'm feeling pretty conflicted and was wondering if anyone could provide some perspective into a long time career in IB. I go to a target and have done both quant and BB IB internships (in that order). I'm in my junior year applying to FAANG SWE and BB/EB internships (no quant since I didn't like it) and I think I have a decent shot at them.
I know they're both very different careers, but I feel that I'd 'enjoy' them all the same so I really don't know what I want to do. Money is a huge factor for me but not the only factor. I value WLB, but I honestly felt the hours at my IB internship were reasonably tolerable. However, I think in the long run, I'm uncertain whether or not I'll enjoy the same hours if I make it to a VP/MD. Though I think I'd like the dealmaking/networking aspect at senior levels, the idea of being 40 years old travelling to meet clients/being away from home when I have a family sounds like it would suck. Those are my main concerns with IB.
I imagine some people will mention IB exits, but I can't see myself being interested into PE, so if I went to IB I'd probably stay in IB. Though the 90 hour SA weeks sucked at an IB, the 70 hour weeks were perfectly fine and I'd even say that I think I'll enjoy them more than 40 hour weeks as a SWE since I'll get bored.
I know money wise IB will probably smoke FAANG SWE, but I feel that these things are hard to predict. SWE route could result in unicorn IPO, but on the flipside IB route of the same caliber could also result in being a rainmaker/starting own firm etc. As such I've basically concluded that it's unproductive to assess this equation off of money alone.
I apologize if this post feels like it's going all over the place, but to bring it together, I'm basically asking what the lifestyle is like as an MD/VP in banking. The MD I knew had been divorced multiple times (yes... I creeped his/his ex wives' facebooks in an attempt answer my question...) and didn't seem to have much time to himself during my internship.
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