How Many of You Are Actually Happy?
I thought this would be an interesting topic given the various threads on people burning out with IB / PE etc. So, how many of you are actually happy and enjoy this career? Honestly, I don't enjoy this job and have come to realize I can live very comfortably on $150-200K a year. Leaving the industry within next 12-24 months once economic situation improves, either corporate development or real estate. Want 40-50 hours a week, weekends free, and the occasional big paycheck every few years. In special sits in UMM / MF.
Quite happy. Enjoy the job and am working with a good team. Have my issues with the economics and fewer junior resources than ideal both of which are being worked on (have had multiple convos with the partner eg offering me a second junior of my choosing and some other fixes). I have accepted 3 months of the year are fully written off on 80-90 hour per week sprints but outside of that it’s chill maybe 50-60 hours tops. Admittedly have always enjoyed investing and do admit this is one of the few fields that’s aligned with my economic goals
Writing off literally one-fourth of your life every year and this guy's response is, un-ironically, "Sounds like a great WLB".
You can't make this stuff up.
That awkward moment when junior resource doesn't realize he's the junior resource :D
General sense of diffuse misery that sometimes oscillates to extreme emotional pain seems to be the norm
I am currently fucking miserable.
However, that is entirely my fault, and has nothing to do with my job. Not looking for hugboxing or anything, I am simply mentally not well and don't know how to fix it. My job is great though, T2 bank, decent pay, decent WLB, great team, interesting deals, good prospects, I really cannot complain, and can count myself very lucky in this economy.
This is generally caused by a lack of identity outside of work. If your life is work, eat, sleep, repeat, you’re going to be miserable even if you like your job. The solution is always a more active social life and meaningful hobbies/interests outside of work.
Nah man, I am just fucking autistic and have no fixed self of sense, that screws with my head
The marginal utility of money from $250k to $400k just never made sense to me. It ends up being an additional ~90k on top of post tax ~190k. If you aren’t an idiot your rent/ mortgage shouldn’t be more than 6k a month. I.e. a million dollar home with a 30 year mortgage should be less than that. So that’s 72k leaving you 100k for insurance/ other expenses and just general life existence. Kids are where it gets a little messy, but if you can bank 15k a year, that’s 270k by the time a kid is 18. The key is just not spending a ton while you are pulling in that 200-250k in your late 20s/ early 30s and childless. Like pay 2/3k in rent and have 160k post tax, post rent, income. Bag like 100k of it and put it in the S&P.
The retardation I see is people just living way beyond their means then needing to have a job that you work all the time to be able to afford it. Don’t get a second house in the Hamptons and live in a smaller house in a great neighborhood and try to take vacations more prudently and you can get the best of both worlds.
Ugh I guess I’m retarded I want a 10m penthouse plus a Rari, Michelin quality chef to cook every meal, yacht etc. :( I’m gonna have to grind for so long
Used to be very miserable in IBD but now very happy in a SWF. Working 40-50/week, no weekends, tons of holiday, doing cool, global deals, time for hobbies, low tax, lots of sun, great travel launchpoint, clearing 300-400. I don’t live in a prestigious place but couldn’t care less. Enjoying this life now, could do it for a while. Happy to discuss more if interested.
I was in the same position you're describing (although IB, never did PE) and was on average unhappy / slightly depressed, and occasionally miserable.
I made the move that you're describing (same comp range, same hours) and have had absolutely no regrets. Not a hyperbole, I quite literally mean that I have not once regretted leaving my previous job lol. I understand it's different for everyone but man, I don't see myself ever going back, even for meaningfully higher comp.
Having more free time gave me much better perspective into what's important to me and I think that's been a contributor to the improvement in my happiness. Also, and I may be more sensitive to this than others, but my mood takes a severe beating when I don't sleep enough. Having the time to exercise, rest properly, etc. has been awesome.
Lastly, and something I for sure under-estimated, is that when you go from ~80 hours / week, super high stress environment to a more regular ~50 hours, better control of your time, autonomy, etc., you'll be surprised at how much more creative you will be and more enthusiastic to take on new projects (whether at work or outside of work).
For me that has meant investing in real estate, starting a few side hustles, etc. that I would have never had the time (or desire) to undertake previously. Although none of these represent meaningful cash flow at this time, and certainly can't replace my job, it does make me feel good to know that I have less of my future banked on one job / one employer.
Good luck to you!!
Wildly depressed. Just going to keep my shit together for another few years before I hit my number, which is probably lower than most on here, and move off the grid. Taking it slow in the middle of nowhere, doing plenty of hunting, and being checked out of the corporate world before I'm 35 seems like a good remedy for what's ailing me.
Really a variety of factors, not ranked in any particular order:
Edit: If there's any interest on this happy to do a more fully fleshed out Q&A post
I was on my way to PE but decided to move to Corp Dev/Strat to have more time with my family and hobbies. Full transparency, I HATED IB, and didn't think I'd find investing particularly interesting either. Work at F100 now - where I put in ~30 hours per week, and across side hustles, bonus, and base, clear about ~$250k (about $200k comes from my job, and I don't include stock that hasn't vested yet), although I live in HCOL. I went from thiccc (not in a good way) to 11% bf, got my youthful skin back, and smile all the time. Never have worked during, or even thought about work, on the weekends/holidays.
This is not to spook anyone, but my personal "wakeup" happened when I realized I wanted children a little earlier, and want to be actively involved in their lives. Around that same time, my former girlfriend lost her life in an accident at the age of 24, and my best friend, who was just one year younger, was attacked by a shooter who specifically shot him in the spine, causing him to lose the use of everything but his arms and face. I caution people who want to "trade away" a vast majority of their lives, especially their youth, because you never know what the future might bring, and it may not all be positive.