Leaving High Finance, Try talk me out of it.
I've been grinding as a private credit analyst at an UMM fund for the past two years, and honestly, I'm completely burnt out. The 20-hour days, nonexistent breaks, and constant anxiety finally pushed me to a breaking point. A few months ago, I decided I needed to get out.
Now, I've landed a Biz Dev role at a FAANG company. The comp is about 60% of what I make now, but the hours are less than half—l'll actually have a life. On paper, this seems like the right move for someone who no longer wants to work more than 40 hours a week and is craving something "chill."
But here's where I'm torn: this career path in private credit has given me insane progression potential-let's be real, the shot at 7-figure comp down the road is tough to ignore. I also know I'd be stepping away from working with the caliber of people I'm used to in finance and into a role with slower progression and less material upside. A big part of me (probably the college kid who chased prestige and $$$) still ties my self-worth to my career.
I know many of you have been in similar shoes, and this forum has been a huge help to me since I first started recruiting for high finance. Now, I need some honest advice: Am I making the right move, or am I running away from something that could set me up for long-term success? Do I suck it up and stay, or should I take the FAANG role and prioritize my mental health and lifestyle?
Appreciate any tough love or insight you all can share, talk me out of it or tell me the truth that it’s time to walk away.
Bye Felicia
Sometimes the grass is not just greener on the other side, they have waffles too
Make a priority list. What matters the most to you now, what are your goals, and what do you want to do? Be honest with yourself. Prestige whoring impresses only a few hardos, but for you, is it worth sacrificing your mental and physical health? You said it yourself - you're at a breaking point. You're not making millions in the next 2-3 years in PC, maybe in the next 10.. if you are lucky with getting promoted, having the right people around you, making the right moves, your funds/investments do well, etc. but that could happen in FAANG as well if you perform well and climb the ladder (or you may decide you don't like it at all). Are you ready to sacrifice your health even more until then? Nobody should talk you out of your honest goals; it's your life, so you should chase them.
You could also just move down-market in PC. Maybe it's not 9-5 and there are still crunches, but not nearly as bad. We have former bankers or people who left toxic cultures and they don't really seem to bat an eye because I think even our worst weeks aren't as bad as their average ones before, and it's still a healthy paycheck.
Thank you for your advice. I’ve actually written it out since writing this post and money is 3rd on my list. I’ll be honest, I don’t want to sacrifice my health and wellbeing and feel like working in a different environment will definitely help with that. I won’t lie and say part of me is still telling me it’s a mistake because I worked so hard to get here and at one point in my life it was all I ever wanted. My ego is most definitely inflated because my whole life revolves around work at this point so tbh it’s all I really have to go on.
I get it. Most people who worked super hard to get on this path would have difficulty leaving it behind. But think of the bigger picture and what must go right to reach your goal. Sure, you can be the hardest worker in the room, but if you don't get the promotion and don't get the right moves, you might crash and burn later, with an even bruised ego and worse off health, before you make your $$$. Are you willing to make that sacrifice? The $$$ will eventually come in any role if you enjoy it and are healthy enough to constantly excel at it.
Don't let your ego get in the way of what you and your body want. Holding onto your ego could be dangerous if it affects your health. I'm only saying this because of how you described your health. I've been there too, and it sucks.. Making 40% more (less after taxes) wouldn't be worth sacrificing my mental and physical well-being. I'd have so much time to learn a new sport, hang out with family, volunteer, spend time on some ideas I have, etc.
Good luck with whatever choice you make. Hopefully I can provide a helpful viewpoint that you might not appreciate until later.
Made a similar transition. Except I moved from IB to more Corp Banking. May ego did take a slight hit ngl. When everyone either moves to better banks or to the buyside, I made the move to move down to a more RM role. While I sometimes think about that, the wlb more than makes up for it. It is insanely different to be able to leave at 5pm, hit the gym and work on hobbies. the feeling of not having to worry about work typically after 5 and having no weekend work is a game changer. I actually started living life again. Yes, I may not make millions in my mid to late 30s but at least I have time for friends/fam, travel, hobbies and staying healthy. Choice is really yours in the end.
Thank you for writing this out and reading my post. I suppose since you didn’t necessarily leave finance this may not 100% apply but did you feel “scared” to leave or I suppose the right word would be a sense of shame. Tbh I just feel like I’m throwing away everything I worked for and the expectations I set for myself and other people in my life and that’s what’s really holding me back at this stage.
Two options, take the red pill and you'll continue working 20 hours a day for the next few years of your life. You might increase your chances of cracking 7 figures in comp, but that's if you don't get canned or die on job.
Or you take the blue pill, use the time you gained back, and make yourself the person who you want to be proud of when you're older.
In this field, you will always earn good money. But is wasting your youth over money something you are proud to admit? Some are ok with it, but those same people wouldn't be posting something like this.
Make the choice, ultimately its only your life on the line.
Here's another idea.
Don't switch to a FAANG. Switch to a (Well) Funded Startup.
I cant remember exact stats but first first X positions at a startup that ended up being a unicorn can be worth millions.
The founder has derisked the opportunity by landing funding and hopefully traction - but at the same time lots of potential upside
Use your finance skills to do some research and figure out which Startups provide you the optimal risk/return .
This is interesting because I actually have the opportunity to move to an energy trading firm that’s relatively small (300 employees ish) to essentially run a new credit structuring division. At this point it would be just me running both the credit structuring & trading side, but they’ve said they want to build out the team and I can head it up. I haven’t said yes because he said that it’ll be long hours but a lot of autonomy and really I’m just burnt out and don’t really know if that’s what I want.
Another thing to ask yourself, are you really burnt out is it that you are not passionate about what you are doing.
I love what I do and often work as many hours as you do.
The above Energy Firm option may be a good one. Maybe a shorter path to that 7 fig income and still stay in your field.
Is taking a month off not an option? This is an important decision and should be made with a clear head....
Obviously this is the right thing to do.
But I will say one thing, finance is one of the few jobs where money and hours worked are inversely correlated. You just have to manage through six to seven hard years and know how to work efficiently. I work four to five months a year in my ranch and would work the rest where it not for school etc
this is the way. pm me i do something very similar
I think you are making an emotional decision due to burn out right now. While everything you are saying is true, I don't think it constitutes a good reason to leave the business given where your mental state seems to be. Take your vacation days, go on a trip somewhere by yourself, regain your composure, and think about this in a more calm state of mind. Think it's a reasonable ask to get a few extra days of vacation days if needed given what you're going through.
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