Thoughts on doing IB for the short-term?
If it is at all possible for me to break into IB, I don’t think I would be able to handle the work/life balance for a long time. I would love to be frugal through my 20s while working in IB to save up lots of capital to work towards starting something independently (real estate, biz, stock market trading, etc...). Seems like everybody on here are striving for that $1mm/40yrs old ultimate goal which is done through serious IB commitment. Would there be any downsides for me exiting IB 4-8 years in? I basically want a very high income asap to set myself up for the future. Would it be a smarter route to simply find an easier field in finance and delay when I’ll be able to achieve “financial independence”?
Can't handle IB for a long time ... then proceed to talk about 8 years into IB
I plan on being an MD until I'm at least 100
Yeah I guess that was a generous estimate. Maybe 2-5 years? It’s just hard for me to tell how long I can survive 100 hour weeks without ever doing them....
Provides three-year range; meanwhile, every hour in IB feels like a month.
Analyst math does not check out.
i'd smash
Probably over 70% of people on this board don't stay in banking for more than 3 years.
Is that because people assumed they could handle the workload and then realize they can’t, so then they leave banking and face consequences as a result?
Or is it OK to purposefully plan on being in banking for just a few years? (2-5years)
Most of the people leave after their 2-year analyst stint. They want to (usually) go down this path before they start their analyst years, and it's okay to be that way. Just don't tell your interviewers about it (they know it too, but it's something both of you know will happen but still act like it won't).
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