Losing motivation, no longer proactive, don't want to learn shit
Associate 2 here at an MM IB.
Team is pretty lean and I have been doing many random stuff (league table, profiles, conflict checks, calendar invites, call notes, etc.) on top of the typical deal execution work (VDR, NDA/EL/NRL, buyer log tracking, CIM drafting).
I have been getting sick of the amount of mundane or repetitive work such as desktop researching revenue breakdown of 8 listed players, finding research reports or call transcripts that discuss 2024 revenue outlook, or sending emails back and forth to lawyers and get the NDA marked-up.
I started to slack and felt that if someone else is taking the workstream, I don't need to read the emails. If I join every calls and pay attention to everything, I will learn more but it will just be too much work or too much effort.
Nowadays, I skipped or just AFKed on calls such as FDD or model discussion with client given there is some other juniors taking the model. In levfin deals, I would skim the credit papers but I won't read any syndication docs or term sheet discussions. I have very limited idea what it is going on at the back between banks negotiating but I do know the pricing and the bookbuilding progress. For M&A deals, I am OOL on SPA/SHA discussions. Someone VP/D in M&A will take care of it, and analyst will relay the mark-ups to client, reading 100+ back and forth emails and joining 10 hours of calls discussing some random business matter for a USD100m is just too intense for me. Sometimes I don't even know why an engagement letter or NDA could take 3-4 weeks to negotiate. Bizarre.
Basically, I am just trying to take the easier workstreams and do well on it. It's not like I can swap my task with others so I don't want to load up extra work to get myself any busier. I don't see them having significant meaning and everybody just drag stuff as simple as ABC for dozens of rounds so everyone looks busy while adding value to the deal.
Does anyone have similar mentality or am I having poor attitude? I don't know how much it will hurt me down the road. Is there anyway to learn as much as possible while working or following as little as possible?
I agree 100%, IB is a stupid job.
Same thing is happening to me but im a second yr analyst. Desperately need to find an exit soon
Ah, the classic burnout tale of an Associate 2 in the middle of the investment banking grind. It's a story I've seen unfold on the WSO forums more times than I can count. Here's a bit of wisdom for you:
Feeling Overwhelmed: It's common in the investment banking world to feel swamped with the mix of high-stakes deal execution and the seemingly endless stream of mundane tasks like league table updates, conflict checks, and call notes. It's the nature of the beast, but it doesn't make it any less exhausting.
Loss of Motivation: When the novelty wears off, and the learning curve starts to flatten, motivation can take a hit. It's important to remember that every task, no matter how repetitive, builds your skill set and understanding of the industry.
Selective Engagement: It's a slippery slope when you start to pick and choose which calls to pay attention to and which emails to read. While it's true that you can't be everywhere at once, being selective can lead to gaps in your knowledge and understanding of the full picture.
The Bigger Picture: Every document, every call, every negotiation has its place in the grand scheme of a deal. Understanding the intricacies of an NDA or the back-and-forth of SPA/SHA discussions is part of the learning process that makes a well-rounded banker.
Finding Balance: It's crucial to find a balance between staying engaged and not burning out. Prioritize tasks, delegate when possible, and don't be afraid to discuss workload management with your team.
Long-Term Impact: Your current approach might not immediately affect your performance, but over time, it could lead to missed learning opportunities and a reputation for being disengaged. This could potentially hurt your career progression.
Seeking Solutions: Consider speaking with mentors or colleagues about how they manage their workload. Sometimes, a fresh perspective can help you find new ways to stay engaged without feeling overwhelmed.
Remember, it's not uncommon to feel this way, but it's also a sign that you might need to take a step back and reassess your approach to work. Keep the dialogue open with your team and look for ways to reignite that spark of proactivity and learning. It's all about the hustle, but even the best of us need to find that sweet spot between grinding and thriving. Keep swinging, champ!
Sources: Anybody else feel this way?, How to View The World... or Which Way is the Right Way to Think, (serious) can't shake shitty feeling from not working at a T1 bank, Not sure what to do at this point
I am with you 100%. I think it is in our nature to do as little as possible without getting fired.
Sounds like the start of burnout. Not a poor attitude, just a draining job and naturally protecting yourself a bit.
Can you take 1-2 weeks off? Any interest in exiting?
bump
Most people start to burn out in this job after a few years. I learned a lot my first ~1-2 years but the learning curve flattens significantly after that. Couple this with the amount of time and effort you need to dedicate towards the job… burnout.
My advice - there are 3 types of people in every job. 1. People who love it, 2. People who complain about it but seem to stay or 3. People who get the f out. Be #1 or #3
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