Finance Burnout or Just Burnout?
To say it lightly, it's been a difficult year for everyone. I've been working away trying to block the lingering uncertainty with additional effort at work and daily CFA study sessions.
Lately, I haven't been able to escape from work- thinking about complex problems that I was unable to solve at work as I lie in bed, constantly running through scenarios that may pop up and ruin a deal I'm working on, or just getting pissed off about being overworked and underpaid.
To provide a little background, I work for a family office in the Southeast US that specializes in opportunistic investments and is agnostic to specific asset classes. We employ <10 people, which makes for a burdensome work environment as ~$4bn is managed by such a small group of people. This is a double-edged sword in the way that I am able to take complete ownership of my work and have daily involvement in asset management and weekly involvement in acquisition analysis. Recently ~33% of our firm has either been fired or quit, adding to the workload.
The most frustrating part about my job is that analysts are paid about 50-75% of market salary... I am paid $50,000 as a second-year analyst and didn't receive a bonus this year because bonuses were to be paid in March and COVID hit most industries in our portfolio pretty hard. Generally, I work about 60-70 hours during the week and around 4-12 hours on the weekend. Before I get any investment banking hardos coming at my neck, saying that's nothing and I would never survive in their world- I am working every second of those hours and I generally take lunch at my desk.
All of these factors have been compounding on top of one another, making it difficult to enjoy my daily life. This is the career I wanted when I first started studying finance and I'm unsure if I'm starting to hate my job, hate my company, hate finance, or I'm just getting burnt out because it's been a tough year.
Anyone else feeling this way?
Yes. 100%. I have found my dissatisfaction comes in waves where I will go through a rough patch and be fantasizing about rage quitting. Inevitably it abates and I get over it.
I have found as I get older I realize it is often made worse by generally not taking care of my overall health (diet, hydration, exercise, getting outside etc.). It is amazing how something as simple as getting outside or getting my heart rate up can change my perspective so much.
Anyways, you are not alone but remember, it will get better. Always does.
Absolutely have thought about rage quitting. I agree though- I've been taking care of myself to a degree... Sleep is the only part that's really lagging.
God speed brother
$50k is well-below market depending on where exactly you live. For working at 60-70 hours + weekend you could easily get a job paying 80k+ base as a second year especially if you're in a larger city.
Living in a major city in the southeast. Definitely is rough when rent is $1,100 and you're wanting to save money.
Also, I should have been more specific: about $4bn in MV (levered) is owned by my firm.
You are extremely underpaid and based on your description your experience should find you other opportunities. Get the resume polished and start recruiting hard. Move if you have to. You need to go somewhere that is going to pay you what you deserve. You probably could make 2-3x that much else where.
While I agree with everything you've said, it's a good job with essentially an MBA's worth of experience and a tight job market. I'm willing to move anywhere whether it be domestically or internationally; however, I won't lateral for another analyst position.
I mean dude an analyst is making 3x what you’re making, I wouldn’t worry too much about the title. Job market is not as tight as one would suggest for experienced hires from what I’ve been seeing. Not easy to land a job of course but you are really worried about titles when you’re pulling those hours doing the type of work you do and making the same as a big 4 auditor?
My advice is ... if they won’t pay you for your experience, find someone who will. You seem like you’re getting good experience there. I would leverage it for more money.
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