Does this mean I am not cut out for PE?
Hi guys, I am a PE ASO 1 who is pretty burnt out.
As you guys know, there is just so much I can be doing to get ahead, to really "prove" myself, to really drive things forward and make myself look good and go above and beyond. But frankly, because I am burnt out, I just don't give a shit anymore. I don't double check my work anymore, I do the bare minimum, I do whatever it takes to just get home earlier and sign off the earliest. I still just got my top review and bonus, but holy shit fighting for promotes and just going above and beyond 24/7 like other associates looks not worth it. I want the bare minimum, anyone else?
Same thing happened to me. Do you feel like you are misaligned? Think about the best performers in anything. They tend to be obsessed with their craft to the point that going above and beyond is normal and doesn’t create any friction in their life.
You should think about whether you are genuinely there with investing. If not, I’d encourage you to think about other options.
You bring up a great point, no I actually hate the job itself and its day to day and everyone involved. I do it for the money for sure.
There’s your answer then. I keep coming back to two things when I think about giving up PE.
One, you’ve probably outperformed intellectually your entire life but the reality is there are a lot of smart people in the world. The only way to succeed and outcompete them is to work more. The only way to outwork them is to be genuinely obsessed with what you are doing. Pursue something that has good business fundamentals with true viciousness and you’ll be surprised at what you can accomplish.
In addition, think about this. If you are a high performer in something you hate. What would tour performance be like in something you love.
Having your identity and finances wrapped up in PE makes it tough to give up but if you truly feel that way it is probably the best way to grow.
Really appreciate the comment, wise words. Helped me reflect thank you.
I've had a similar thought on career trajectory. The first 2-3 years I went to a company and optimized for name brand, exit optionality, but have recently landed at a firm in the last year that has a great culture and alot of flexibility and its at a smaller shop. Id rather focus on maximizing money for time (e.g. hourly pay). I do like IB inherently, what the job is and what it takes. The people, not so much. I think the same could be said for PE, HF, maybe even VC. At the end of the day, I think the culture may precede the the actual work you are doing, in terms of ranking priorities. If you have these 2 things, the sustainability of your career has a much longer time horizon. I think its definitely doable to do IB, PE or HF and grind for 2-3 years at a time, but the burn out factor starts adding up and at the end of 7-10 years, you may feel lost, which may be misleading since it could have solely been mainly attributed to the environment/people you were working with over that time. The best is to build something on the side and exit corporate in the long run
Similar trajectory, I don't think I'll ever go back to the name brand firm where I have to grind (Im now closer to 60-70 hrs per week with a lot of flexibility about when I do it). I got out of nyc and actually have times to do things I love outside of work and make enough to be comfortable. much less stress, much happier.
I don't think so but I think you should find an easier strategy if you want to coast. It's a trade-off and could be an amazing lifestyle anyway. My job is super easy. Automated most of it over the past year so all I do is write up analysis from diligence calls and debate with the partners on pricing and go/no-go. Pay is OK but hours are chill and I have a lot of independence because we're so lean. It's not pure play PE we're a hybrid of late stage venture and secondaries / co-invest but we still charge 2/20. I firmly believe certain PE strategies could cut out 90% of what they do (motion) and get broadly similar returns. You can do the same cutting away the fluff. I stopped doing any 'this would be interesting' ask unless it get's brought up a second time. IMO stay and tough it out if you're hungry / a killer or lateral somewhere smaller / agile, less complicated and chill. Life ya life man
Might appear defeatist but if you're getting what you want out of life, extract as much as possible from the situation as you can. Mileage may vary
For reference: 4 years exp, $200K total comp, 35-50 hrs a week, multi-six figure vested carry DAW and climbing. I'm considering taking a career break during the harvest period of the old fund and living on a shoe-string budget traveling to see how far the first carry check can last me. I mean how much do we really need to be happy?
Im on a similiar track too as mentioned in my comment above. Associate at my firm in IB probably pays around 175-200 vs. at a larger bank it would be 260 all in. However, now I legitimately work a few hours a week as to my previous bank, i was cranking 60-85 hours on average
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