Best Work-Life Balance in Finance
I'm currently an undergrad at a top 50 business school going into my sophomore year. I'm in the middle of an IB internship (not BB but a solid boutique firm) and I'm starting to really take a closer look at what my career in finance is going to look like.
To put it simply, my goal is to work 45-55 hours a week on average, with as little work as possible on weekends. I'm willing to sacrifice the comp that one might see at a IB or hectic buyside gig for more room to enjoy my life. I'm definitely interested in asset management, private wealth management, corpfin, corpdev, and even REPE to be honest. Those areas seem like they have the best work/life to comp ratio in finance, from as much as I've been able to find out. Then again, I know that I don't know much of anything experience wise, and I could really use some input.
What are your guys' thoughts on this subject? Any recommendations for industries/firms I should take a closer look at? What do hours/comp look like? I really appreciate it!
Hi 50xleverage, any of these threads helpful:
More suggestions...
Fingers crossed that one of those helps you.
Following
Bump
Commercial banking hands down. While it isn't much pay at first, the minute you hit an RM role, comp skyrockets. If you're successful, by your mid 30's you could be making close to $350k all-in for a relatively low COL city and work 30-40 hour weeks. And by work, I mean go to networking events, golf, and sell the bank to prospects and uptier existing clients. Very cushy gig.
A lot of people on this forum would say it isn't sexy work, but honestly fuck 'em. If you really want to work insane hours and sacrifice friends/family/sanity just to make a bunch of $$, cool.
Second this. Going a little up market into a corporate banking role is a very good in between as well. MDs easily clear $500k and generally work 40 hours a week with some chill client outreach
How does recruiting for these roles work? Is the process very defined like IB or is it far less structured?
How does recruiting for these roles even work?
Less defined, but most large commercial/corporate banks have summer analyst programs at the Sophomore/Junior level. If you don't know anyone currently in commercial/corporate banking, ask your college career office about them; if that doesn't pan out, go to LinkedIn and find commercial bankers in your market (or wherever you want to work) and reach out to them. Recruiting has changed since I began my career in commercial banking (now doing corporate law with commercial banks), but that's largely how it worked. Feel free to PM me with any further questions.
Bump
Commercial banking hands down. While it isn't much pay at first, the minute you hit an RM role, comp skyrockets. If you're successful, by your mid 30's you could be making close to $350k all-in for a relatively low COL city and work 30-40 hour weeks. And by work, I mean go to networking events, golf, and sell the bank to prospects and uptier existing clients. Very cushy gig.
A lot of people on this forum would say it isn't sexy work, but honestly fuck 'em. If you really want to work insane hours and sacrifice friends/family/sanity just to make a bunch of $$, cool.
If you join a financial sponsors group that doesn't execute you can have a really decent WLB while still working in IB
Investor Relations, Marketing come to mind. I would never go into finance for marketing, and i'm not entirely opposed to IR, but there are tradeoffs when it comes to WLB, and that's why there are basically 0 FO roles that have great pay and good WLB at the junior level. IR is technically FO, but I think with respect to prestige it plays second fiddle, can still clear $300k plus which is nothing to laugh at
Moelis
Funny and also kinda true in some odd way….
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