If I am struggling in IB, is PE probably not for me?
So my plan was always IB > PE like everyone else. I am at a BB bank that has really good exists NYC. However, I am only 2 months in and struggling super hard in IB, which to me is a bad indicator that I should probably not go into PE.
First, the technical work just isn't clicking with me. I don't know if I am straight up incompetent or retarded lol but I notice it takes me 3x longer to understand things and "click" compared to my other analyst 1's. I feel super super dumb and I know that in PE this won't really fly and the expectation is everyone is super super bright and can understand things perfectly and instantly when being taught/ explained to.
Second, I am handling the pressure and stress really poorly. I straight up cry by myself in my apartment when I am getting staffings and have no idea what to do. I get panic attacks when I hear outlook go off or get pinged by associates. I've heard the stress is 10x worse in PE so this worries me.By the sound of these two, does it sound like I would not last at all in PE? Maybe Corp Dev/Strategy would be better for me? Anyone else in my shoes now in PE that can share? Also I know 2 months on the desk is not long at all so maybe I will get adjusted? Thanks.
Couple things:
1) Everyone got a different learning curve. And you are just two months into your job. It takes time to pick up the skill sets. Do not give up on yourself yet
2) imho, hard to say not fit for PE if not fit for IB. Folks at PE look for things outside of technicals, eg cultural fit, intelligence etc. You may pick up other stuff better than you thought
3) Lastly, do not let your day job define who you are. Even you are not good for IB/PE, that does not mean you are dumb at all
really good advice thanks so much
This is fundamentally incorrect. You're two months in. I'll take it you're a new grad, so you're what... 23, 24? You've been working in finance in one of the hardest industries for two months. This is not enough time to adequately gauge the remainder of your finance career, and discounting an entire sector within the equity industry due to 'bad performance' would be moronic.
After reading your post, I have a couple of thoughts. The first thing may sound cliche, but I HIGHLY encourage it. Get a therapist. It sounds like you may be struggling with more things than just IB-related ones. That is okay - we all struggle, and every person handles stress/anxiety differently. I suffered greatly from anxiety in my early twenties, yet I've largely moved past it and it does not affect my DtD anymore. I accomplished this not by grinding through another 2 am deck or weekend-long lawyer call, but by assessing my situation from where I am in life, and what I'd like to do. Allow yourself some time to take mental care of your own brain, and reach out to someone you can speak to. Even going once every couple of weeks can do wonders, and you'll find yourself looking forward to those sixty minutes.
You may also think that everyone else 'gets it.' If you'd like my personal take, I'll say this - no one gets it. No one. People will put up fronts all the time in ordinary jobs, and with finance, competitiveness and macho-hardo energy are embodied 100x over. You may think that everyone is fucking killing it on the floor left and right, but don't think for a second that they don't have these feelings either. Yes, there are people who will inherently nail technical questions better, there are people who will have connections already and life looks 'easy', and there are people that will be better than you in different areas. That doesn't mean you're an idiot. The truth is just that people on the trading floor of a BB NYC bank are a lot less likely to admit that they may have done something wrong, which may give the appearance that they're 'smarter' and more 'well-adjusted'.
No one else matters to you. Judge yourself by your own performance metrics, not by those of your peers and colleagues. It's not the worst thing to bounce ideas off 'em and stack up a couple of key indicators every now and then, but what they do doesn't matter. It doesn't matter if they get the job at Goldman, it doesn't matter if they get that PE callback that you wanted, none of it matters. Focus on yourself and your career. This took me a long time to accomplish, but it's made my life exponentially better.
Best of luck to you my friend. Everyone hates recruiting, and everyone is stressed. You ain't alone.
really really appreciate you taking the time out to write this for me, it made my day. You are amazing for this I can’t thank you enough. It truly means a lot.
It's the least I can do. I've felt like you have - Iateraled from a construction and real estate background to PE. I was usually 6-7 years older than the people who sat next to me, I felt so out of place. It was very intimidating, and I felt like I was behind. I talked to my coworkers, and it turns out they always thought I was the smart one. That's just how it is. Get to know your colleagues - some of them are probably dicks, but most of them are nice and receptive to you. Everyone on the same team!
What a great fucking comment. I 2nd absolutely everything in this post. It’s a long journey my friend, I’m a few months into PE as well, it’s tough but hey man just gotta let it be. We don’t know shit and that’s ok, nothing you can do about it. Do you know how much time we have? We’ve never had full-time jobs. This ain’t school anymore, this is 5 days a week in the office, 50 weeks a year for 8 hours a day. That is a SIGNIFICANT amount of time, plus it’s only focusing one on thing (PE) whereas school you had to focus on 5 different classes, im not saying school is gonna be ~harder, but im trying to paint a picture on just how much time we have to learn the industry and everything that comes with it.
Imagine just 2 years down the road from now where you’ll be and you’ll still be considered an extreme junior compared to someone who’s been doing it for 20 years.
Breathe. It's only 2 months, you're still getting ramped up. IB work is very particular and not quite intuitive to people who are new (and there's nothing wrong with that).
Give it another 6-12 months of legitimate effort and hard work, and you'll laugh about this post in hindsight.
thank you so much for the response I truly really really appreciate it.
I realize and empathize with the pressures that come with being in the echo chamber of finance, maybe even more so given your age and at a BB. Here is my 2 cents:
i) don't bother thinking about PE right now. Your priority is to manage your mental and physical health so you have the clarity to honestly assess your situation, your personal goals, and just general overall introspection. I echo the sentiments of a therapist - likely be super beneficial as the intensity of your environment and the demands of your job make it hard to go about improving your health alone.
ii) as part of (i) you need to figure out why things aren't "clicking". Are you not asking timely questions? Are you spending individual time making sure you understand the concepts and pieces? I've frequently seen analyst and associates say yes I got it, or that makes sense. Without taking 5 seconds to just think about it or walk through it. Early in your career, financial concepts stack and are intertwined. You need to grasp the basics for things to continue to "click" at a fast rate. I wouldn't jump to the conclusion about your intelligence - go re-study the investment banking interview guides. If you truly understand the technical concepts there, you should be good. You should also ask yourself if you suffer from imposter syndrome and in reality, you actually are performing fine (reiterating the benefits of a therapist here)
iii) everyone's journey is different and so is their definition of happiness. BB -> MF in Tier 1 city is one of many many paths in life. Don't be so narrowly focused on one path that you naively begin to ascribe your value and happiness to it. It's very easy to fall into the trap, be aware.
This is from someone who went to a target school, whiffed on all my first-round BB and IBD interviews (I think I went 0/8), didn't get into banking, eventually found my sweet spot and couldn't be happier in LMM PE. Been to therapy, have had panic attacks as well
Take care of yourself
Damn that iii) bullet point is hitting …
Quia assumenda quos ut voluptatum officiis magnam. Eveniet repudiandae minima ea minus temporibus ab repudiandae. Voluptas animi est autem veritatis autem autem. Et laudantium enim quia non aut eos velit dolor. Ut et facilis odio ut omnis sequi. Quaerat sunt consequatur laudantium pariatur ea praesentium quaerat rerum.
Cupiditate quia ex placeat quam debitis. Quis maiores aut nihil enim. Animi est doloribus et voluptatem id neque.
Ipsam quisquam repudiandae adipisci eos quis facilis deleniti ut. Non aut qui quasi deserunt beatae minus hic. Repellat quam assumenda repellat reiciendis non dolorem. Qui earum autem optio vero. Et voluptatem incidunt quidem expedita qui laborum.
Rem excepturi nihil sit iusto quas laborum autem quibusdam. Laudantium excepturi amet libero sit repellendus. Ullam aut et et vero qui ea.
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...