Background:
I've been working for 6+ years (4 in IBD, 2+ at a HF). I enjoy my job, and am committed to being successful in the industry (PM) in the long term.
But in the back of my mind, I've always thought about quitting and traveling for 2-3 years before I settle down (family/kids etc). For obvious reasons, very concerned about getting a job when I come back.
I'm specifically looking to get the perspective of senior level employees on the buyside.
How bad you think this looks on a resume?
Are there any ways to make it look constructive?
Any other general thoughts?
And before people mention it:
I have no intention of doing an MBA
I have sufficient savings to get me through 3 years unemployed
Thanks!
Retirement comes at the end of your career.
^Dumbest comment I've read in a long time.
Way to be super dramatic. Advising against a 4 year break mid career is the "dumbest comment" you've read in a long time? Get real dude.
Ya I have seen that attitude from many people. But as someone who's seeing my parents STILL working... I don't have any faith in retirement. My dad spent his prime years (25-45) working day and night so that we could have a better life. Even now my parents don't travel much and at this age are more focused on health-related issues rather than leisure.
I've worked like a dog for 10+ years, saved money, and have earned my time off. My ambition is stopping me from just quitting and "figuring it out" later. If you have constructive advice, I'd appreciate it
I've given you my view. It sounds like you've made up your mind. Not exactly sure what sort of answer you're looking for.. Are you expecting people to tell you "yeah, that's a great idea! You'll have no trouble finding work after a 4 year break!" I mean, there's a reason why you're seeing this attitude from so many people. Apologies that you don't consider this "constructive."
EDIT: An MBA is a productive 2 year break but it looks like you've ruled that out as well..
Why don't you ask your firm if you can take a year-long sabbatical. Be honest about why. You want to travel and do some things while you're young, and think an MBA is a waste of time. I largely agree.
They almost surely won't give you more than a year, but I've seen plenty of firms let employees take a sabbatical and return. If you're good at what you do and honest about it, maybe they'll let you.
To be clear, you need to be fully willing to walk away regardless of their response when you ask the question. They'll know at that point that you're considering leaving, so you need to be willing and able to do so when you have that conversation.
If they say 'no,' you should be aware that getting a new job making similar money after your travels might be harder than you would ideally like. Still, I understand wanderlust. Your company might as well.
I'm going to give you some real answers to your questions since I have almost an identical work experience as you:
Here’s what I would do if I was in your position and wanted to travel the world for 3 years.
Bear in my mind, this will depend on your sales skills, and how imaginative/entrepreneurial you are.
Step 1: Register a LLC called ‘Roversam Investment Partners.'
Step 2: Buy the domain roversaminvestmentpartners(dot)com.
Step 3: Start a blog on the website, and upload research reports on how to invest in American tech companies, or healthcare companies, or crypto, or whatever investment strategy you know. You could even outsource this if you suck at writing - as long as you actually have the knowledge.
Step 4: Get your new company’s social media on point via Facebook, Linkedin, Twitter, Instagram, Youtube. And upload everyday for 3 months to build a following.
Step 5: Buy ads on Facebook and Linkedin and target high net worth individuals and small asset managers in China, South Africa, Thailand, Jordan… wherever you want.
Step 6: Collect leads by offering free ebooks, or coaching calls and follow up on the leads. Market yourself as an American Investment Consultant or something just not a financial advisor.
Step 7: Charge $1000/hour for a face to face meeting.
Step 8: Travel the world and have fun, while keeping a pulse on the financial markets.
Step 9: Come back to NYC 3 years later, sell yourself to employers as an entrepreneurial individual who wanted to expand his global investment knowledge by exploring opportunities in untapped, illiquid, frontier markets, and now you want to leverage this new found knowledge in a structured environment like a hedge fund. They will love you because not only do you have the pedigree of working in IBD & a HF before, but now you have a twist to your profile which will be a great differentiator to all those other cookie cutter plebeians.
Step 10: Find a wife, have some kids; when they grow up, regale them with stories of your adventures and mishaps as a world traveller during a period of your life.
So far, best piece of advice.
I know it may regress from what you are searching for here, but my (personal) 2cts:
Hey man, enjoy life. As you said, you've worked hard and had a good run. Well done! There is so much more in life than this, which you already know.
Sure, be wise, don't burn bridges (or lie about doing an mba)... You know, nobody really cares... But YOU care: is your life! So go travel the world, meet people, have experiences, broaden your horizon... That in itself will be a larger learning than staying where you are. Whether 6 mons, 1 yr or 2, is your decision. You'll know whats right for you. And guess what: there are no guarantees in life (like returning to your exact same job/point, or for that fact that you even want to be there after a time away). Another financial crises or otherwise, everybody screaming for the exits and there you go... Tons of people looking fir a job, mirable because they didn't do sonething with their lives other than inverst time in an office, to get some shares (maybe worthless by then). Not sure how many crises most of the users (monkeys) here have experienced, but they are an eye opener. Mostvpeople will tell you don't do it! And is understandable to speak from a defensive position. But hey, it is your life!
Sure, you can keep some story ongoing like RedChamps suggest. Or who knows, maybe you find sonething better than wirking for a HF or iB and go found a nee venture, or meet a UHNW guy looking to open a family office, or decide your thing is art, scuba diving, teaching kids...
Go live, go explore, there is no such thing as wasted time, unless we decide it is so. You have demonstrated to have the drive and the skills to get where you are... Trust yourself!
Keep us posted what you decide, no worries, there are no wrong decisions, as long as you act with conviction, face the consequences and master the outcome (even if you need to work it out). And if you decide to travel, send us the link to your blog, if you decide to stay, then you can answer the questions some monkeys have on markets and ib etc
Good luck with your decision!
Mid-level person on buyside here. It's honestly a pretty hard ask. It will be hard to get a job similar to your current one when your return.
The MBA is obviously common and then you do get a LOT of off time. Many people take like 4-6 months on either side of the degree, plus you have lots of breaks, plus you get an MBA... Personally I think that's what you should do - even if you don't love the prospect at first. I can tell you that I found it very rewarding and I got more than enough travel time in (like 7 total trips to other continents). I went for the brand... I left with more perspective, with friends, a wife-to-be and much more.
Absolutely do it. It is A LOT more common than people on WSO will have you think. You're knowledge and skills don't magically disappear if you go on a break. I interviewed at a fund last week and the guy interviewing me was the head of the department, was quitting to go travelling for a while, and said thats the second time he's doing it. My friend in a different industry just took a sabbatical to do some travelling for 3 months as well.
Work isn't everything. Mental and spiritual renewal can help you in the long run. This is the best opportunity to take a break before you get even more senior, potentially the best time to do this right up until you retire It will be 10x harder when you have kids and are settled down. And if you are going to do some travelling you'll want the energy you have just now that you won't have when you are later on in your career.