Does anyone like their job ?
I am trying to decide whether to stay in PE as I approach my 2 years. Honestly I’ve only heard negative things about the path ahead so I want to ask: does anyone that is SAsc/VP+ actually love their job? Particularly those that have technical backgrounds and might also enjoy building something … thank you!
Did IB before and moved to consulting and love it. Really enjoying it much more than banking and wouldn’t mind continuing it further.
How long were you in banking? I'm like 1.5 years now and I'm jealous of my roommates consulting gig, work he does and people he deals with seem so much better.
Two years. Loving consulting now; echoing your roommates experience here, you get to face clients really early in your junior years vs banking where everything is so hierarchal. Your impact is recognized earlier in consulting than banking.
Yes, I really liked my consulting days too. I could be happy doing that. I'm more curious about the PE/HF/'high finance' world though - current a 2Y associate in PE
Private equity doesn’t really get better. It’s a myth that work life balance improves - it doesn’t. The business model is associates are churned and pushed out after two years after being dangled with a carrot in front of them that they’ll get promoted with carry. After that it’s the kiss of death of high finance.
Why do you say kiss of death? If I make it through to VP, is it worth staying? Do people in VP+ roles like their job?
2.5 years in current gig for me, think my most likely scenario is grind out a year as senior associate, then re-assess. I like enough about the job to stay for a bit longer and juice the savings account, but really don't think the PE long term track is for me. I have gotten my ass kicked this year.
+1. Same situation here. May end up continuing to push onward, but current MF Senior Aso lifestyle isn’t really sustainable, and the VPs on my team have it even worse in some respects.
I actually like the job, but it’s just constant. It’s one thing to cut your teeth for something great, but going on 5 years of basically nonstop work now (2 IB + 2.5 PE), and committing to working like this for another 5+ before some lifestyle improvement post-VP is a bit daunting… Worried that it’s an easy way to wake up at 30 wondering wtf I’m doing.
"Worried that it’s an easy way to wake up at 30 wondering wtf I’m doing." Spot on right here, I am no doubt glad I've pursued this path and would 100% do it over again, but I have been increasingly asking myself "when does it end?" And the answer is that even after 4.5 years when you think it will get better, it really doesn't for a long ass time (if ever).
I liked the job but hated the people in PE
I liked the people and enjoyed the job for the most part in IB (though it got slightly boring after I get my legs under me)
I like the job. But the thing about PE is it never ends and there are no breaks. Even the smartest hardest working people after 5 years of sprinting need a break sometimes, and that’s what PE does not afford you. So I don’t like that part of the job. It doesn’t “come in waves” either, it’s just 80-100 (mode 90, median 90, max 130) high intensity hours per week, every week, with no downtime, until you are ~35, and even then, the only way you free up time in your schedule is by accepting more risk that you’re missing something.
8-9 years into PE and legitimately enjoy it (happy to elaborate)...though these forums suggest I'm an anomaly (albeit I like to think this place is like Yelp and you mostly hear about the bad experiences).
Perhaps my experience is counter to all the pitfalls that show up here - I like the people I work with (internal and external), I like the deals I work on, I've been granted and received carry payouts, I like my city, and my hours have become more reasonable with more seniority. There's still plenty of pressure/stress, ample travel, and politics/BS, but I think it's worth it for an intellectually stimulating, high paying job that has real impact on the sectors that I touch.
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