Maintaining perspective as a 1st year analyst
Just wanted to create this post to share some ways you’re keeping yourself motivated, grounded and sane through first year. Feel free to drop your coping mechanisms. Here are some things I remind myself.
1- There will always be a weekend, every week. Sounds obvious but this thought has literally kept me from thinking too much about how long I’ll have to work this hard. I just remind myself that I have to work for the next 5 days then I can rest for the most part. I can truly rest. I’m grateful for that.
2- I won’t get fired for this mistake AND no one will remember this specific mistake I’m stressing about now in a year when I’m really good at my job AND even if they do, it won’t matter because it will be history. Just keep improving.
3- It’s not always about me. When a VP yells at me for a mistake any analyst would make, a mistake they probably have seen 10 times before, it’s not me. It’s them and their inability to stay professional and check their expectations. So don’t take it personally.
4- Extend empathy to the difficult teammate and take nothing they do or say personally. They are going through something that has nothing to do with me. Either insecure, anxious about their job, or dealing with something. Or they just don’t know better. And if I can’t think of any reason to extend empathy then it means I don’t really respect them so why does anything they do matter?
5- Chances of getting fired are really low, especially at BBs. I made it here and no one is looking for reasons to fire me. I might not be top bucket, I might not be the best thing they’ve seen, but I have an amazing job that many would kill to have.
A couple notes here:
1) A positive attitude goes a long way. Be the person who is smiling and willing to learn more. People like that and are more likely to go to bat for you if you do screw something up.
2) Don't lose sight of what matters. I've been seeing a couple of concerning posts here about suicidal thoughts and depression (whether job-related or not). Be the person who knows when they need to make change in their life to prioritize their mental health. Whether that means looking for a new job, creating new healthy habits to destress, finding a therapist, or talking with friends...you know what you need. Don't sacrifice it all for your job. If these recent layoffs are any indication, your company wouldn't do the same for you.
Just view IB as a two year program. Spend your first year learning as much as you can and your second year refining your abilities and finding a buyside role.
Remember it’s just a job so always prioritize your health and sanity first.
A couple of things to think about, although you have a good perspective on things...
1) Sometimes there might not be a weekend, you might get staffed on a deal, you might miss a fun night out or a birthday party, but this is what you signed up for. I had 35+ people at my apartment one year for the Super Bowl while I sat in my cube working on a pitch deck that I knew for a fact was never going to end up on a client's desk. The MD that pitch deck was for, wrote one of my MBA recommendations. Work hard, look forward to your "time off", but never unplug to the point that you can't be relied on.
2) You are 100% right. There was an industrials MD who I wanted NOTHING to do with, but I got staffed on a pitch with him. I ROYALLY f'd up the deck, he chewed me out, but the three other MDs I enjoyed working with never saw me make a single mistake and had my back. I was never staffed to industrials again, and got to work with the senior bankers I enjoyed.
3) You are 100% right, it might be that their kid was throwing a tantrum that AM and now they are pissed. Maybe they got cut off on their way to work, maybe they are having relationship problems. Go into situations always providing the other side the benefit of the doubt, and you'll be afforded that as well.
4) This person is a teammate, you might not be staffed on the same thing, but you share a bullpen, cube, etc. Help them and they will help you and everyone will notice that. No one wants to go through anything alone, be a team player and those actions will be repaid in spades.
5) Everyone you work with wants you to succeed. They didn't hire you to fail. You might not be their favorite, you might not be the best, but you are what they have and as long as you work hard, show up and put in effort, you're going to be OK.
The first six months on the job can feel awful, but things get easier once you do a few reps.
You’ll also become more efficient over time as well. Don’t stress too much. Others on your team have been through the same learning curve.
All true except everyone can get fired nowadays
It’s still pretty uncommon for a first year to get fired unless you’re really not trying. What I meant is it’s pretty helpful for perspective to remember that the threshold to get fired is higher than one thinks coming into IB.
If you won't be able to deliver something on time due to having too many other tasks, let your assoc/vp know so they can adjust expectations or help out as needed.
It’s also okay to ask your asso or vp questions as you go through your work. They just want good work from you, so clarifying when you are unsure on an ask is helpful
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