What does “made it” look like for you? Why are you still grinding?
For everyone here who is still grinding after years in IB, PE, RE, or other types of HF:
-Why did you choose to stay in the field? the money? prestige? or something else?
-What’s your end goal? I don't hear anyone dreaming about staying in HF for the rest of his/her life, at what point is enough?
-At what point do you consider that you have “made it”? Is that a $ amount for your net worth? When you find something else more interesting and important in life? At what point do you plan to exit and retire?
I'm still grinding because I want finance freedom, but as I talk to ppl outside of HF, there are many other ways to make similar amount of money. A realtor in a high cost market can totally earn the same amount as a mid or senior level professional, but have much better flexibility. So if money is not the reason, why do ppl stay in HF?
Bump
The same reason most ppl stay in the same career their whole life - it's hard to make a switch. Of course, we all see ppl in other industries making a lot of money, but there's an element of the sunk cost fallacy there as well. Then there's ppl who dream of the upside high finance provides that other careers couldn't. Interested to hear what others have to say on this topic though!
Financial freedom means different things for certain people.
Also if you choose not to have children, it could mean far less grinding to reach your goals. Ngl, it's one of the reasons why I'm seriously considering not having any or if I do, only one.
My parents sacrificed everything for their children when we were growing up. We didn't have hot water, air conditioning or heat back then. I work hard so I can give part of my paycheck to my parents.
If HF is not they only high paying career, would you choose a different career if that career pays about the same?
Time is more valuable than money. I stepped off the IB/PE track when I looked to my seniors, who were incredibly wealthy, but did not envy their lives. No amount of money was worth the stress and lack of control that comes with continuing down this career path.
I now make decent pay and save a good deal of it. I'm nearing the point where I no longer need to save for retirement to hit roughly ~$6mm by the time I decide to stop working all together. Will probably keep doing the corporate thing until my early / mid 40s, but the knowledge that I don't really have to and can quit whenever for some low-stress whatever job, to me, is very liberating.
So, to me, becoming the master of your own time is "making it", which I feel is something very few achieve in this industry.
What are you doing nowadays?
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