I've always imagined myself wanting to go into a bank for the short run (1-2 years) and using that to assist me in setting up my own startup/working with a startup.
So I managed to secure a MO for 10 weeks (the year I'm required to do an internship) in order to set myself up well for future / (I know they are very different) internship applications.
Now that I've been here for a week I know that I not only hate MO (Who doesn't), I definitely don't wish to work there in the future, even if it's in .
Here's a few reasons why:
- The hours are long (even in MO) despite the fact I've spent over 50% of the time doing non-work relating stuff (networking, iPhone games and watching the WC/tennis). From what I hear, it's the same in FO usually.
- Org charts just depress you and make you realise you're a tiny cog in a very big watch and if you wish to become a significant part of the watch, it's a life long commitment. This may differ in smaller firms, although I have no experience of that.
- People in both MO and FO don't really want to be there long term. MO wants to land a FO role and FO wants to leave for something more exciting. It's incredibly rare to find someone who throughly enjoys their job for what it is.
- Both firm culture and banking culture in general is unappealing. Everyone seems quite depressed for one reason or another.
- MO in specific harbours people that are lacking in one or more of the following three key skills: sociability, intelligence, having a proactive nature (they can be damn lazy) or motivation.
- Post-tax pay after deductions like student loads absolutely sucks for quite a long time.
While it's possible to do something meaningful and make a shitload of money in finance, it generally takes a long time and you probably have better odds at becoming a successful entrepreneur then you do at becoming the next Peter Thiel.
While I never had life long finance ambitions to begin with, but this internship is helping me realise that even 1-2 years is going to be a massive drain. 2 years is a long time and it's probably worth considering the amount of time it takes off your lifespan too. My aim now has shifted to finding a startup in the field I like and working my way in there as it seems far cooler and relevant to my future career.
I just wanted to share my thoughts and was wondering if you had similar stories of your own or even if you disagree strongly with my line of thinking.