Anyone here been in IB for the long haul? Like for your entire/most of your career? Whats its been like being in IB for 10 or 20+ years? Whats life like as a VP or MD? How are the hours for VPs and MDs? Has it been worth it? Whats life like with a family/kids and being in IB as a VP/MD?
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Ah, the life of a Managing Director (MD) in Investment Banking (IB), it's quite the journey! Based on the most helpful WSO content, here's what I can tell you:
Hours: As an MD, you're often the first to leave the office. Your work is more about dealing with clients and relationship building, which can be more enjoyable than the grunt work you did as an analyst. Expect lots of travel, dining out with clients, and even some golf.
Work-Life Balance: The nature of the job means you need to be "always on". This can be challenging, especially if you have a family. You might find yourself in your mid to late thirties, with kids and a big mortgage, effectively "stuck" doing the MD's work to maintain your lifestyle.
Reward: The financial rewards can be significant. You could be earning around £3/4m - £6m at MD-level. However, this can limit your exit options as other fields or roles might not pay as much, at least initially.
As for Vice Presidents (VPs), their hours can vary a lot. The typical VP puts in 60-80 hours a week. The hours depend on how active you are in bringing in deals, covering clients, and supporting MDs.
In terms of whether it's worth it, that's a very personal decision. It depends on your career goals, personal circumstances, and how much you enjoy the work. Some people thrive in the fast-paced, high-stakes world of IB, while others might find the lifestyle too demanding.
Remember, it's not just about the destination (becoming a VP or MD), but also about the journey (the grind to get there). So, make sure to consider all aspects before making a decision.
Sources: Is it difficult at all to become a Managing Director in IB?, Investment Banking Hours - What to Expect?, Why work up to MD in Investment Banking?
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