Why the hell do people work in NYC/SF IBD?
It makes absolutely no sense to me. I've heard a lot of people try to defend it, but it's simply indefensible.
100 hour weeks working at a BB making 150k (high end). 50% of income goes to Taxes, 30-40% is rent, 10% is food and 0-10% is savings.
If you're 28 years only and you only have $50K saved, there is a problem. If you have to go to business school at 28 years only and get into debt, just for a shot at making a living in your 30's, there is a problem.
You've sold 6 years of your life, and what the hell do you have to show for it?
If you put 6 years of 100 hr weeks into anything else, you would be massively successful to say the least.
So why the hell would you do IBD?