Am I crazy to turn down IB offer?
As title says, recently received offer to join a lowerbank as a "senior analyst" in M&A team, which I imagine just means analyst but up for associate promo after 1 year. This was once my dream but now that it's staring me in the face I'm having difficulty embarking on this path. For context I am ~4 years out of undergrad and a CFA holder.
Current position: Senior Analyst/Associate in Corp Dev/Corp Strat at a large CPG co. Work is interesting, hours are great (<40h on avg), 4 weeks PTO, small team including ex top PE shop and top consulting firm folk. Also, company is expanding into new areas so on the cusp of some interesting acquisitons/strategy work. Org is also going hybrid in the future, 2-3 days a week in the office. Downside is the usualstuff - comp is fine but not great, path upwards is not so clear, but I still have a lot to learn at current level.
IB Job: Typical advantages would be the clear path upwards and ramp up in comp. However, I'm expecting to essentially double my hours to increase after-tax pay by ~50%, technically a title decrease as I'd be going back to Analyst, and I don't think the work would be more interesting than what I'm doing now. Supposed to go hybrid in the future but made it sound like that may be more like 1/day week WFH if anything, which reduces flexibility of course.
I do appreciate that the IB job has more prestige, and I do value that. I can also see the network may have value in the future. However, I have a hard time signing up for the sweat shop that is IB when I have such a flexible/high-WLB job - I would be earning more absolute dollars but my $/hour would decline. I'm also not jumping into more interesting work here like someone switching out of accounting/audit for example. Of course, this is still a material increase in comp, especially if I can by chance stick it out and make Associate +. However, I'm not sure if the incremental $ will truly be life changing (comes out to $35-40K a year after tax) whereas I'm sure working 75 hr weeks instead of 35 will, and I worry I may do my 1-3 years in IB only to exit right back out to Strat/CD anyway.
Is there anything I'm missing here? It feels very strange to throw what was once my goal away but I can't help but feel like it looks a lot less appealing when it's in your grasp....