Did COVID Change Your Life?
Curious as to how COVID altered ambitions and goals of people on this sub. Do you think you guys achieved more in lockdown?
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Full transparency - it made me realize that I did not want to become like some of the senior bankers in my group. Many of these individuals on my team communicated that they did not enjoy being around their families, and don't get me wrong, I don't expect anyone to love being locked up at home, but some of these guys acted as though being around their wives and kids for more than three hours per day was some form of cruel and unusual punishment. Definitely not the example I want to set. Additionally, the lack of support for juniors has been astounding. Got ETA'd while hospitalized and realized that if I stayed, I would likely evolve into someone like them (you often become representative of the ten people you spend the most time with).
Thus, I have made the decision to leave financial services. I don't regret my time in the field, but depending on what trends continue like over the course of the next few years, I might be more cautious to recommend it unless someone is crazy passionate about working on the buyside (and I mean truly interested in the work itselff, not just "prestige" chasers).
Interested to hear what your plans are going forward.
What r u doing now? Did you take a pay cut?
Likely leaving for strategic finance - would take a somewhat noticeable pay cut but would still be making MUCH more than most people my age.
Did a full 180. The IB work itself was *mostly* interesting to me and I honestly didn't mind the hours. Team was pretty good too. Issue was firm did a real bad job managing WFH and I ended up going bat shit crazy from being chained to my apartment. I really could not stand the isolation. Eventually had my "fuck this shit" moment and left. Now at a boutique buy-side shop where we all go into the office, hang out as a team, etc. Absolutely loving it. Pay not as good, but will grow rapidly if I perform. Blessing in disguise in a way, but sometimes wonder how far I would've gone if life was normal.
So yeah I guess, life changed quite a bit. Hit me up in a year and I'll let you know if it was worth it (I think it will be).
it made me realized that how fucked up our society whether it's the government or the general public. We were/are in a pandemic and it feels like no one gives a shit about the millions of people, and during the most intense time of the pandemic people were so fucking selfish and no one gives a thought that they can die at any moment. sad reality we are living in.
Definitely have been using xanax and Kpins more so I would say things are really good right now.
captain bartard settle down
Been great for me and my family personally. Halved my living expenses and state taxes by moving from a HCOL city to MCOL city as soon as this shit started. I also was pretty productive in admittedly a crazy busy 2020, got top bucket, but still had way more time to spend with my wife and young kid than if we were in the office.
I’m also in a group that generally seemed to care about the well being of the team, so I certainly feel for you guys who have been working for tyrants.
As sad as it sounds, it's been great for me personally. Mainly about 3 things:
1) Grades: I had a high (3.75+) GPA till the end of the Fall 2019 semester. When I entered the spring 2020 semester I had a selection of classes which was a mix of classes I didn't want but had to take and also classes which I was interested in but had started out not paying much attention which snowballed into me not doing well at all. Thus, I was on track to getting a very low GPA in the semester. Then, COVID struck and everything went online, and the school also gave unlimited P/NC options. So, made the most of that in 2 of my classes and because the semester was online, I was also able to contrate more on the rest of the classes to make sure I got As. Ended that semester with a pretty high GPA.
2) Recruiting: First part was the fact that it helped prevent my GPA from sliding, which was obviously helpful. Secondly, it helped spread the recruiting process over a bigger period, which was helpful because I could concentrate on a firm or two at a time before I moved onto another process/networking opportunity. It was also helpful because COVID freed up time in my schedule and gave me more time to study technicals and make time for networking calls (probably ended up speaking with 100 people), which was the most for anyone at my non-target.
Additionally, COVID indirectly played a huge part in the exact recruiting process that got me my offer. The reason being my firm had already started the interview process and had handed out a couple of offers as well. It had also screened people from the resume book that my school had sent to it. I, unfortunately, wasn't on the list of shortlisted candidates. This was disappointing because this firm was really awesome in the industry group that I had applied for. I even mentioned to a friend of mine about the same because people less qualified than me got it. Anyways, once COVID hit, the firm decided to pause recruiting firmwide and was under a hiring freeze. When I heard about this, I immediately started networking in the group (I hadn't previously networked at all here because of my arrogance that I will surely get an interview, so it was very humbling) and a couple of people said I should hear back as soon as the freeze gets lifted. Many months passed and I thought this opportunity is gone for good but then out of the blue I get an interview and within a week I had an offer which I accepted there and then. So, as I said, COVID played a big part in setting my professional trajectory straight.
3) Family: I was fortunate to not lose anyone I know to COVID (touch wood). In addition to this, my dad works in the public markets and as we all know, the markets did amazingly well. While my dad hasn't gotten the year-end bonus yet (I am from an emerging market that follows the summer schedule), I am sure it'll be extremely good. This has helped remove certain financial burdens my family had because of the premature death of my mom from cancer (not during covid) in addition to mortgages on the houses. Now, everything's under control and my dad's on track to pay off everything in the next year or so. Since my twin sister and I are dependant on him through our college life, it is also helpful here.
Left investment banking and am pursuing medicine now. I found finance and business to just be making rich people richer. After closing a bunch of high profile transactions, I still didn't get any pleasure and joy from them. I understand medicine isn't all rainbows and butterflies but at least I'm doing more meaningful work.
hows that transition like or would be like if someone like me took bio classes in college
Fuck medicine
say that to your doctor the next time you see him
Less travel, both personal and business travel. Human relationships deteriorated, everything is online.
I really don't want to go back to any office environment, it would take a long time for me to be interested in that.
Been traveling a lot cheaper. Also have no hope for the future of the United States.
made me more introverted
i'm used to spending more time by myself and i actually kinda like it
Social life took a nose dive initially. Rebounded after we realized what covid is and isn't. Helps the vaccine is here now.
Work wise been a boom. Covid created a landscape of have and have nots (analysts have your Md's made you create this slide yet? lololol). My business booms in pandemic times (think zoom), so it's been a once in a lifetime opp.
I got burnt out at my Job working in real estate development. I had always wanted to leave and start my own business/fund, but wanted a few more years of experience before doing so. Covid fast forwarded my plan. I left the city and worked from home, buying more properties during my spare one and weekends. Finally decided to leave early this year and haven’t regretted it one bit.
Can I PM you questions how you started? I’m also interested in this down the line.
Sure.
WFH stripped IB down to its core for me and made me realize how little interest I actually have in any aspect of the job (and by extension, the traditional exit opportunities). Quickly realized I could never see myself being happy in any of the common IBD career paths and only ended up in my job because I liked the competition in undergrad and it was the "best" thing to do (the same mentality was the primary driver for my interest in MF PE also). Decided to leave the industry and focus on a role that I am fulfilled in and allows me to have a rewarding social life.
Mind sharing broadly what industry/role you ended up leaving for?
.
Biggest take away was focusing on myself
Definitely leaving the industry soon. IB will never be the same now that zoom exists. Probably going to b-school.
Makes you see the banks only care about profits. No humanity
Mental health plummeted. Quit my job
"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope."
-- Dickins
The worst of times
The best of times.
On par, I am 100% better off than 18 months ago. On par, the society around me is 1000% worse than 18 months ago.
To paraphrase the great Timothy Leary. I have turned on, tuned in and dropped out.
I am NEVER going back.
lmao
Can you expand on your last bullet for worst of times
Sure. Our deficit is growing asymptotically. Umiversal basic income is a farce and Socialism has caused a failed state wherever it has been inplemented. And we are heading toward Weimar style inflation. The result? Zimbabwe abd venezuela
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