Second Year of MBA Feels Like a Waste of Time – Landed IB Offer, Now What?

I'm currently on Spring Break in my first year of B-school and honestly... not feeling great.

Before the MBA, I had a high-paying job in NYC making $200K+ in a niche field. I came to business school to pivot into investment banking—mostly to keep my comp steady while opening more doors down the line. I was pumped to land a top BB internship early in the year, and that goal is now checked off. But now, midway through the semester, I feel like I’m just... drifting.

Everyone around me seems to be thriving—traveling, partying, making the most of this experience (even those without jobs yet lol). Meanwhile, I’m watching my net worth slide. I came into the MBA with ~$500K+ saved. I’ve now lost ~$75k from a mix of market losses (thank you, tariffs) and living costs. My parents covered tuition (huge privilege, I know), but I’m still bleeding cash on rent, travel, etc. Summer comp is very good (I get paid OT), but I’ll be paying double rent for my MBA city and NYC, so not much saving happening.

Emotionally, it feels like I’m stuck. I’m working out daily, eating clean, getting perfect grades (even though we have grade non-disclosure and people clown me for caring), practicing some hobbies, and trying to stay busy. I haven’t gone out in weeks. I want to feel like I’m earning my time off, but without a real sense of progression or genuine challenge right now, I just feel aimless. I am very driven by money and hate losing it which is contributing to my melancholy.

The part that gets me: I got the job I came here for... in the first 3 months. So what’s the point of the next year? It feels like I’m just waiting to go back to work, losing money and time in the process.

I know this is a high-class problem. I’m incredibly fortunate. I should be enjoying this experience while I can, especially before I join a relatively sweaty group full-time. But I’m struggling to find purpose right now.

Anyone else been through this? Would really appreciate advice on how to mentally reframe this next year so it doesn’t just feel like an expensive waiting room.

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