What did you lose due to investment banking?
I know that investment banking has a high pay for an analyst/prestige and exit opps. But the saying sadly goes "no pain, no gain." So the purpose to this thread is to explore the "dark side" of investment banking on a more personal level.
1) What did you lose to investment banking? 2) Was it worth it in the end?
Moved to a new city for FT IB (A1).
Lost touch with previous tight-knit friend groups, the ability to meet new people on weekends, my sense of personal confidence (at least within the office while getting pummeled on comments, but externally, saying I’m in IB still holds enjoyable clout), and a loss of long term career vision. I’m just praying I’m in the right spot and that the stars will align themselves for my future. In turn, I’m getting great qualitative deal exposure, and I’ve got a girlfriend who’s great to fall back on in the weekends. Two months in I’m already questioning my sanity and if I belong at my firm.
But hey, at least the paychecks are nice, I guess?
You are fortunate to have a gf who has been supportive If things work out with her than a few years in IB would be worth it after all :)
going to always have to sacrifice something. If you care about family, that's where you spend your free time. if golf is more important, well that's how third marriages happen. but on the friends angle, trust me, the real friends all have their own lives and understand shit gets crazy. they'll be there when you call
1) My soul
2) TBD
1) my anal virginity 2) no figured I wasn’t gay especially not with my MD
Curious how statement 1 was a result of IBD
Look at 2
Gonna get a bit real here. Not IBD, but S&T:
1) My sense of patience
2) I don't know
Hair
Feel you homie
Did three years of M&A at a top firm (ie. GS/MS/Lazard/Evercore/JPM). Here are the main things I missed out on:
* Three alumni reunion events - couldn't go to the first one because I only just started banking and missed two others because had to cancel last minute
* Various international vacations with my good friends
* Dozens of birthday / other celebratory events of friends
* Various family vacations
* Dating - most guys in the city with normal jobs go on numerous dates to meet people, but as a banker you are unable to do anything during the week after work.
Absolutely was worth it in the end. Grew up middle class in the middle of nowhere far way from NYC. Made more money out of college than my parents were making combined and was able to transition to the buyside at a distressed hedge fund where I have been at for a long-time now.
My career is now set up in a way where the upside is signficant depending on returns of the fund. Plan is to save as much money so that I can retire early and spend time with kids/family down the road.
Philosophy is to work hard now in your 20s/30s so you can enjoy doing whatever you want for the rest of your life. I talk about my experiences on Buyside Hustle if interested in learning more.
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