What’s next for 40y with good career
Hi WSO,
Thought I could lean on those more experienced for help. Now right at 40, I’ve worked hard and can say I’m set in life - Desk Head Trader at mid-tier bank, consistent ~700k TC, good track record in my company, mortgage for my decent 2 bedroom apartment almost paid.
I thought I knew where I’d be going - two decades in finance and time to get back to life. Then just came back from the bar with other Traders and heard the usual stories of the much bigger powers in Wall Street, the guys who appear in the news making not millions, but billions (call them MDs). Gotta say I was inspired to wield such power.
I really want to ask for those who chose either the path of Life / Hobbies or MD / Career, were you happy with your decision, did you regret not taking the other?
Path 1 - Life: Doing the same average hours, stay at 700k TC, but build other areas of my life that gives me the fulfilment that the job won’t give. Good that I already know what that is - create my guitar portfolio, reach 1M Insta followers, have adventures with friends as a touring musician, be an inspiration of someone who did well in finance AND created his own music for the world.
Path 2 - MD: Put all hobbies aside, get into GS/MS/JPM, work and strategize in those 12h work days on getting into an FICC level role, say 2M TC. Hello Hamptons and Ferrari. I’ll be a Corporate slave but maybe I eventually wield the power and on morning read on BBG “XXX made X billion for the bank”. I’ll never have that moment of touching people emotionally with my music.
And let’s assume it’s either or, more so as someone at 40. I can’t exactly practice guitar 3 hours a day if I’m working hard and taking global calls as an MD.
1 or 2?
Sincerely,
Nijikon
Link music thx
So forget MD? Call my Desk Head + 700k a career. And work on playing guitar in front of thousands at Wembly Stadium?
Still lots of work but I give myself a 50/50 shot at Wembly in 4 years time. Hence the either or dilemma. 3 hours a day practicing or 3 hours a day taking calls meeting clients
If you are really 40, I would have hoped you no longer sought external validation so much that its the end point of either of your proposed paths (play in front of thousands at Wembly or be named in a BBG headline).
if you are really good you can do both
I thought about it
Let's say I got this portion of 3 hours each day. If I choose life, I'll practice guitar for 3 hours. If I choose MD, I'll think of new strategies, of meeting clients, of networking for those 3 hours
Sure, maybe I shall admit that I'm not really good. Very realistically, it'll an either or
I know what it take for each of them and this is how it's gonna be, for me. Either or
Brother 2-3 years Brevan Howard and forget
For 20 years, I've been on the sell side collecting two way spread. This one, I can safely say I don't have an market beating directional alpha trade to strike a 2M bonus in Brevan. I'll like follow the path of average tenur of PM at HF of 1 year
Hmm, what products do you trade lol where you can't make a 2 million dollar bonus at Brevan
Dudes who make $2mm don’t have Hamptons houses and Ferraris. That’s like $500k a year after tax, 2 kids in private school, a $3mm mortgage, and property taxes.
Sure. There's also the power part. Down to get same either or question. A man at 40y with his life set with his assets - humble abode, Toyota, no kids - work on his passion / hobbies or work on getting MD ?
what "power"... IB and HF are not really the ideal career path if that is what you want
At best you end up like Paul Singer and at the young age of 65 can order some shitheap country to pay their bills
At second best you get the power to tweet like a jackass... which you can also do now
If you can fall back, try 2 for a bit.
If you’re risking your seat, stick with 1
If this was truly written by a 40yo, god help us
Are you retarded
I know plenty of people who don’t have those dreams or passions and are happy to chain themselves to the career and money. You’re clearly not one of them.
You’ve basically just written up an entire post to say “Hey so I have enough and make enough to be completely comfortable, support my family, AND follow my dreams but… what if I threw all of that away so I can pump my ego by pandering to a bunch of finance nerds instead?”
Are you desk head or did you just hit your head on the desk - play that fucking guitar and send us your SoundCloud when you’re done
Dumbass
Have two kids then come back to this post
this is the true choice to take
2M TC I don’t think you can afford a Ferrari btw
Sounds like you need to get laid
Vel ut velit tempora reiciendis in doloremque. Ea nesciunt qui est.
Ducimus et et est earum dolores. Sapiente beatae iusto maiores itaque dicta eveniet odit cumque. Omnis molestiae laborum iste et est autem. Aspernatur eos est dolor in in adipisci est labore. Aliquam aut beatae voluptatem velit tempore labore.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...