Isn't it better to stay in IB (or return to) rather than burn-out or get pushed out of PE?

Ancetdotally I have seen many careers de-railed or ruined or fucked by going straight to PE and then burning out or being fired within 3 years

How much of it is ego vs actual interest in PE over IB?

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You're assuming people don't get burnt out in IB and won't get pushed out before reaching VP. 

"If you don't have any enemies in life you have never stood up for anything" - Winston Churchill | "It's a testament to the sheer belligerence of the profession that people would rather argue about the 'risk-adjusted returns' of using inferior tooth cleaning methods." - kellycriterion
 
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