Midlevel Burnout
Hey everyone - I know this site skews younger but I'm hoping there are some more experienced folks who would be willing to share their thoughts. I'm a first year VP (i.e. just promoted) at a solid firm. I do M&A in an industry group that's strong in its space. The team likes me and I have a lot of goodwill built up - I sort of just need to continue to punch the clock without losing my mind and I'll have a pretty clear path up the ladder (at least until I have to start generating revenue). Overall it's a good seat, and they pay me near the top of the street.
Nonetheless, it's difficult for me to put into words how much I hate it. I just could not care less about the work at this point and, as an A2A promote that's been doing this for over 5 years, I am tired to my core. I actually have managed to maintain a pretty decent life outside of work but I've developed very unhealthy habits to cope with the stress and have all the symptoms of a serious case of burnout. My attitude for a couple years has been that I'll just keep doing this until something blows up in my face because of laziness or I just crack and can't make myself do it anymore. I'm surprised it hasn't happened yet, but here I am.
Ultimately I'm just still here for the money. If I can pull it off, I think I have a few more years left in the suck and then will make a serious lifestyle change. But I don't know - things look a lot different at 30 than they did at 23. I can convince myself that it's not worth wasting another second of my life on this, and then I can convince myself the opposite.
I just would love to hear from other folks who have been through this, whether you stayed on board or left for something else. Did you leave? Regret it? Love it? Decided to stay and found a way to reset? Any and all thoughts welcome.
I have essentially the exact same profile as you OP (1st year VP, 30, and A2A) and arriving at a similar place. I think I enjoy the work itself a bit more than you do but given the compounding of the general grind of banking it's tough to always be motivated.
That said, when I think about alternatives I don't really know what they would be. I think I ACTUALLY work like 65 hours a week so going to corporate and going down to 50 hours and going from $600K to $250K(?) seems like a terrible trade off. The way I've rationalized it, is another 3-4 years at this pay rate will put me in a place where I could theoretically 'retire' and live nicely off even a modest return each year or more likely let it continue to grow and have a very comfortable retirement while adding to it more modestly with a job/venture that I prefer.
I think if I really found another opportunity that was too good to pass up I'm probably at a point from an experience and savings perspective that I could justify a move. Until that day I do my best to work with teams/projects I like and try to avoid the ones I don't to help worklife balance to the extent possible
I’m older than all of you and haven’t made anywhere near the money you folks have (and that’s ok!).
But to think that you folks could work for a few more years and then can/will quit to theoretically retire is for most people, a pipe dream. Sure it’s possible in theory if you seriously budget, live in a low COL location, invest decently, get lucky with markets, and ignore the whole having a family and enjoying your money thing which very few people actually do.
I say this because I cannot count the number of people in my age group that said the same thing from ages 27-32 with similar profiles to you folks and then realized that they just couldn’t/wouldn’t do it.
Sure, some took much lower paying jobs, took time off, switched to easier roles in finance or started businesses/tried to. And all of that is awesome!
But no one retired...
I was in your shoes. Out of college, was really exciting to grind hard and do a lot of deals and that's kind of what kept me in it. But over time realized that the job wasn't for me in the long run -- tried to get out multiple times but for whatever reason, wasn't able to find the right fit, or convert interviews -- given my experience, was pretty decent at the job and the money was pretty good so I could stick to it.
That being said, given the huge grind + group / culture dynamics (massive inefficiencies), I REALLY began to despise the job / my group.
When you're 30 your perspective changes a bit -- either you can stick to it and keep clipping coupons OR you can get on the right long term path - different people choose differently, I chose the latter (or moreso I finally got out). I left massive $$ on the table and took a pretty massive paycut (think 40-50%) for a buyside role.
That being said, I'm much much happier now. Get to work on the parts of the job I find the most interesting (deals and no busy work), get to analyze companies, and from a lifestyle perspective, most my weekends are free. Most importantly, now I actually have some skin in the game so the job is a lot more interesting and it actually feels like your contributions are making a difference.
I'm A2A and further down the line than you but have struggled with similar thoughts. I've basically decided to clip more coupons so I can fund my FIRE goals. I don't think I'd ever actually retire in my 30s but maybe I'll eventually switch to something I enjoy given the substantial nest egg I have due to banking.
The rat race in banking is real but it's really freaking hard to walk away from the money, especially when I'm young and single so the cash basically flows to the bottom line.
Part of my problem too is that I don't know exactly what I want to do but know I need to feel very strongly about it to forgo this compensation.
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