Hey all,
Has anyone ever considered taking a year long break from IB or PE to travel? I'm seriously considering it and wanted to hear other people's perspectives on it, especially what job search would look like when I'd come back. I'm generally fine with a pay cut, not too worried about it. More worried that I'm wasting my life away working 90+ hours a week. I'm currently at a BB bank. Thanks in advance!
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You might have to downgrade banks just because "yeah I just felt like taking a year off to travel" is kind of a red flag in America. It shouldn't be, but that's the way it is. You still have very marketable skills coming out of this job, but it may take you 3-4 months to land something after a year off because people will question if you had a mental break or something.
A lot of places will let you take extended unpaid time off... as much as 6 months. Worth asking HR so you have a job to go back to if you want it.
I took Q4 off to do this and left my gig. I'm recruiting now and some people get it and some people don't. I did this after 4 years of working IB & PE.
Will let you know what happens.
How did it go?
Great am VP now. I turned down processes where senior people were annoying about it, its a good filter. Don't want to work with people like that.
Traveling will eventually become a chore, and you won't appreciate it as much as you would normally. Why not find a job that's remote, has great hours, little responsibility + flexibility, and you can stay there for a year? I have friends working at start-ups making 90k, 40 h weeks, and are able to work anywhere in the world. You'll then have money to live in decent living conditions.
From my experience, most backpackers I've met were broke, unhappy, and using travel to escape from their problems. Not saying that's you, but consider that. Also, you'll get tired from constantly being on the road, and your sleep quality might not be great depending on the hostel you're at (if you can afford a year of hotels, good for you!).
FYI hostel world.com is a great place to find hostels.
As someone who’s in that kind of position (~30 hour weeks, low 6 figures, remote work wherever), I highly recommend.
This. Find a remote job with semi-transferable skills, or work on a start-up. Taking a year off for the hell of it will lead to career problems when you try and come back, but if you can spin it and say you tried to pursue another venture independently it makes the transition easier. Another option is to ask HR for an extended break. Realistically, you'll be recharged after 30 days and bored after 6 months.
I agree with this completely, and SBed, but will just add that a lot of, or even most, remote companies will only let you be remote from the US because of potential tax issues. Can't even log on during a weekend trip to Mexico, your VDI straight up will not work outside of the country. Something for OP to be aware of
YOLO!
At a BB too and my firm offers "sabbatical" leaves where I see juniors can usually take up to 1-3 months off work and come back. Generally to do this you need to have a very good rep and top bucket from what I hear but might be worth something considering as you'll still have a job guaranteed when you come back (or you can just leave if u want lol)
Downside is indeed you may still be hit with emails even if u are OOO and staffed on deals (so i guess you're not really "plugged out"), and also you don't get the full 1 year break
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