We All Sound Stupid - a Manifesto
See title.
The prestige whoring perpetuated by this website is laughable and so are all of us for participating in it.
It's very strange and concerning that 18-26+ year olds have their entire identity and self-worth inextricably tied to their employer, title, and salary.
I used to be this way but I've seen that there is so much more to life.
I will no longer mask insecurity by chasing money and "impressive" titles just so that I can feel good about myself and appear "better" than my peers.
Life exists outside of the desk, WSO, and LinkedIn. Wealth is not monetary.
This is all a joke and there is more to life. Please find and chase your dreams. And trust me, banking, megafund PE, etc. is not a dream, it is a trap.
Signing off of WSO and IB for good,
Sincerely,
Analyst 2 in IB - Ind
If you don't feel this in some way, you're prob compensating w money/career
Better than compensating with gay shit like poetry and travel.
Dawg you are so lost hahahaha
dude thinks that travel is gay lmao
Agree but I still generally like the folks on here. And I enjoy talking shop.
I like you too.
Do you know who Candice is? WallStreetOasis.com
Totally unrelated to OP but I love talking shop as well as the term “talking shop”
I mainly come to WSO to boost my motivation and to hear harsh but sound advice. Here people talk without any sugar adding (at least when giving advice). I like it.
wow you're a true trailblazer with such a contrarian statement. Maybe we'll read about you on wikipedia someday
fucking clown
^ a balding unhappy MM PE associate that was hit too hard by this post
Nice, another one quits the rat race. Makes it easier for me to climb to the top. Out of my way clown
I've not much interest in IB/PE but I do want to work hard. What I like most about this website is I'm surrounded by people who want to put in the work and achieve their goals, whatever they may be. I didn't meet a single other person as ambitious as I in my undergraduate so it's great to meet them here. The reason I didn't is presumably because I want to a not top 1000 uni (could've gone to top 100 but didn't know shit about uni rankings when choosing). So now I'm stuck in my situation with plenty of obstacles and I fucking love it.The satisfaction I'll have when I achieve financial success will be amazing. I'll be the first of 35k alumni to make it somewhere (or so I hope).That's why I use this website. I also see fuck all posts about prestige, I generally only see people concerned with salaries, which is all I'm concerned with. Nobody does finance for the intellectual satisfaction of it afterall.
the grind ends at some point. I'm just setting myself up to do something in genuinely interested in one day.
Please circle back letting us know what it's like being poor.
Many Ts,
CEB
Please circle back @ 55 and let us know how much energy you really have. I can almost guarantee, sustained 80+ hour work weeks will eventually take a toll on your body. You can ignore the research, but that's your choice.
Study #1 on long hours causing heart issues: https://www.npr.org/2021/05/17/997462169/thousands-of-people-are-dying-…
Study #2 on sleep duration : Sleep Duration as a Risk Factor for Cardiovascular Disease- a Review of the Recent Literature - https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2845795/
Summary: "The recent literatures confirms that sleep deprivation is associated with HT, CHD, and DM. Increased sympathetic nervous system activity is considered to serve as a common pathophysiology in sleep deprivation’s relationships with these diseases. Especially, the relationship between sleep time and incidence of CHD or DM is U-shaped"
Study #3: Life, Stress and Illness - https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3341916/
"There is a growing concern about the increasing cost and prevalence of stress-related disorders; especially in relation to work place. “Worked to death, drop death, work until you drop” are highlighted “work-related death” in the 21st century."
"The morbidity and mortality due to stress-related illness is alarming. Emotional stress is a major contributing factor to the six leading causes of death in the United States: cancer, coronary heart disease, accidental injuries, respiratory disorders, cirrhosis of the liver and suicide. "
Study #4: The impact of stress on body function: A review
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5579396/
"Many disorders originate from stress, especially if the stress is severe and prolonged. The medical community needs to have a greater appreciation for the significant role that stress may play in various diseases and then treat the patient accordingly using both pharmacological (medications and/or nutraceuticals) and non-pharmacological (change in lifestyle, daily exercise, healthy nutrition, and stress reduction programs) therapeutic interventions"
I understand where you're coming from.
I'm a first year analyst myself and the physical toll of work have been a big shock to me as well. But honestly in the long run I see it as being worth it. No matter what you want to do in life whether its IB/finance related or not at all you're going to have to sacrifice and put in the work in order to achieve a certain level of success. It's about sacrificing today for a better tomorrow. You'll never be able to run away from it unless you're willing to sacrifice your future.
I understand IB isn't for everyone but quitting won't get you anywhere.
Yea you know, I want to get off the hamster wheel because I'm miserable, but I keep telling myself just one more go round
Alright, I'll grind hard during high school and get into a top school (this one was worth it)
Alright, I'll grind hard and get into a top banking group (hated it, but proud of my effort to get there)
Alright, I'll grind hard in banking just so I can get into PE (hated it, should have known better)
Alright, I'll grind hard in PE so I can get into MBA (in progress)
I don't know how to stop. I don't know what I'd do if I stopped. My circle of friends is all tech, law, IB, PE, VC, etc. Everyone's in some sort of rat race.
My thought process was very similar, the major difference being I bit the bullet and jumped off the hamster wheel after my analyst years were up. FWIW, the experiences that you slogged through and hated (IB, PE, possibly MBA), were not a waste of time. These are highly sought-after qualifications that don’t go away even if you decide that grinding until you’re a PE partner isn’t worth it.
It takes some balls to escape the rat race and pursue work-life balance instead, but you should rest assured that you’ll figure out how to be successful no matter what path you choose.
Your creative sentence structures make you a better fit for journalism anyway
can write a story about us
Dude if you guys only knew how regular people reacted to finding out that our base salary alone: $85k, is higher than what the average family makes in America and more than double what 99% of the global population makes (not an exaggeration, but rather a statistical reality). We make that much at 21/22. Just think about that... If the average person discovered this site and browsed through it for just 20 minutes they would: laugh because we are very funny but also be amazed at how ungrateful we are. OP, you're a bit dumb for not taking advantage of the incredible blessing that is IB and continuing in the industry and I will assume that you, much like the rest of the American population, think that life is "hArD" because you have to work 80 hours a week working what's essentially a luxury job (you type on keyboards and fix logos) and you're getting paid not as much as you think "you should" (like literally everyone). I'm sure you've been told to "gain perspective" before, but as someone who literally grew up dirt poor, I fucking love investment banking because while it's competitive and tiring and "hard", I promise you that it is nowhere near as bad as what my life was 10 years ago. I promise you that much like the average American, and especially the average American elitist (i.e. most IBankers whose biggest life struggle has been choosing either Yale or Williams), your largest problem is how naive you are.
So PE recruiting didn't work out?
I agree with you 100% on an emotional level. I recently completed my 2 years in IB and jumped ship for a CD role. The difference it has made in my personal wellbeing and happiness is insane. The security of knowing that people respect my time and, more often than not, I have a structured, predictable schedule has been incredible.
That said, I try not to judge people who go A2A and/or stick it out in IB for the long run. My upbringing and temperament makes IB a horrible fit in the long run, but kudos to those who are wired differently. The basic truth about life is that you must find your own purpose. If that means devoting yourself to the IB grind, there’s nothing wrong with that. The one group of people I have true pity for, are the ones stuck with no long-term future in it. I’ve seen more than a few people trapped by the bonus cycle in a job that is, quite literally, ruining their life. That’s truly sad. I would encourage them to get the hell out as soon as feasible, because once goals no longer align with IB, the sacrifices become almost unbearable.
new PE associates realizing working 100+ hour weeks still isn't fulfilling
Something I notice about this post is the reaction to this. I have been noticing more people lately willing to come out and call out the awfulness of being in a Wall Street job for what it is. And the reaction is overwhelmingly positive! Back when I got into this pre 2008 crisis, I felt like I was surrounded by people who would say there's something wrong with you for questioning the greatness of being an investment banker or research analyst. That type of peer pressure could make you feel like a complete loser for rejecting the stress of the job. I don't know if this pandemic caused people to reevaluate what's important, or maybe the GenZ'ers are more willing to stand up for their dignity. As a Millennial, I feel like my cohort was brainwashed into jumping through all the hoops, no matter the cost. Just my observation and feeling from reading stuff like this now vs like 5-10 years ago.