Is this worth it? should I quit early?
Hi all,
Long term lurker. First year analyst at a big 5 bank in Canada.
Started this job 6-7 months ago and I have honestly had it. Like so many others who have posted it these past few weeks, I am completely drained from this eat-sleep-work attitude and even as work slows down (had a busy fall), the free time I do have, I just dream of quitting. Seriously considering riding out this pandemic on the savings I do have.
My mental health is extremely poor, considering going to a doctor for meds because nothing else (hobbies, activities, de-attaching from screens) is working for me.
If I quit right now - I would be fine financially, and I don't think I can have something lined up, and frankly, I just want to stay unemployed for some time while things normalize a little.
While I understand previous forum posts have discussed people quitting so early, I'd like to continue this conversation.
My ask is;
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For those that have quit already without anything lined up, how are you feeling? do you have regrets after getting over the burnout that caused you to quit in the first place? do you feel like you made a haste decision? Would be happy to hear your thoughts especially on this point.
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What will the career ramifications be from quitting a job so early and then taking some months off to put myself in a better state mental health wise? Will future buyside firms care? can I go back to banking in any circumstance without an MBA?
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Does it make sense communicating this to my VP in hopes that they accommodate? is "accommodating" even an option in this industry? whether it be medical leave, less staffing, perhaps some vacation?
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By giving up this early, I am afraid I will be giving up the opportunity to go back into the office and actually experience the job with all its positives (Long nights but with the comradery that comes with it)? Does it make sense to just ride out the next few months with bottom bucket productivity so that I can last? perhaps aim for the year end bonus?
I was on the same boat as you, and quit in December. At that point, I had been on heavy meds for anxiety and depression for 3 months. I have absolutely no regrets, except for not quitting even earlier. It felt impossible for me to get out of the hole I was in, put things into perspective, have a healthy life, and figure out my next step while working 110+ hrs a week. And don’t get me wrong, this job has gotten sickening worse with WFH and the pandemic, and I don’t think it’s getting anytime better soon. It just wasn’t worth it in my opinion. If you have the financial means to live out of your savings until you recover from burnout and figure out what to do next, it’s a no-brainer. And frankly, you’ll feel a LOT better very fast once you quit, and finally have the clarity to think about your own well-being and professional endeavors.
Let me know if any questions, I’m available to talk through these things as someone who’s been there.
I think you subconsciously regret it. You’ve sent this same post to every IB post
Right. Guy is trying to justify his choices by telling everyone that they should quit as well. It might be the right choice for him and if he took it, he should own it, instead of trying to make himself feel better.
Let me preface this by saying I hesitated responding to this comment, as it adds no value to the discussion OP started. In responding, I also might accidentally give your idea some credit, while the intention is certainly the opposite. But here we go.
- I graduated in mid 2020 with a dual degree in Biomedical Engineering and Computer Engineering from a top/target school.
- I have interned in tech through Product Management, and started my own company freshman year with a successful exit.
- I decided to try out IB in the fear of missing out, as people generally touted this as an incredible opportunity for the smartest graduates in the US. Having tried both tech and entrepreneurship, I thought there was no harm in trying out IB as well. Here's where I was wrong.
- There wasn't a way for me to be sure IB wasn't for me without trying it, but I regret having ever gone into this path. Although I ended up as a top-bucket analyst, I had never felt more miserable than I felt while working in IB. My mental health deteriorated drastically over these 6 months, and led me to 2 attempted sui*ides. Assuming I would regret leaving a job that got me (and many others) this bad is ignorant of the circumstances and ableist at best.
- It wasn't an easy call to make. I was constantly scared of regretting it, as the perception of prestige this job carries is beyond itself, and really clouds one's judgement. I had people around me bringing the same feedback you bring on this forum, which made it insanely harder to call quits. And back then, there were very few accounts and posts of people who had quit IB this early, and I really wish I could have heard from their experiences.
- A month after quitting, I've decided to do my part. Quitting seems scary, even if the job is truly bad for you, and even if you have other options lined up. I am posting my story around so that others who might be in a similar mindset don't feel alone and have someone they can talk to who has made the call to quit, and ended up more than fine. I'm not telling anyone what they should do, but rather some things they should put into consideration if they feel this way towards IB. I would have found it immensely helpful if these posts were around for the ˜4 months I considered quitting.
- So yes, to the posts where such account is fitting and could be helpful, I am for sure commenting. You don't have to (and shouldn't do) what I did if you feel that this job is right for you. If you feel somewhat in the same boat as I did, then maybe consider what I've said on my story. And don't hesitate to reach out - I'm truly trying to help here.
- And no, I don't need to post on WSO to justify my choices. I know it was the right choice, and you're not the one to make such call or go around guessing. I've started my own startup since quitting, and have a pretty nice nest egg too through my dad (net work of a couple hundred million). I don't think anyone in my position, having experienced what I did, could ever regret quitting IB. I own my choice, and I'm proud of making the call to quit. But I get that your experience might be limited, and how you might see IB as the holy grail. I'd argue that most sharp undergraduates would be better off elsewhere. But each to its own.
International Bay Street banker in a Big 5 bank who quit before new years here. Don't want to name the bank as it wouldn't be very difficult to find me on linkedin (don't remember if I updated it after quitting?). Going to give my 2 cents and explain what I was thinking before pulling the trigger.
TLDR: The light at the end of the tunnel is nowhere visible. I personally called quits but to each his own. Life in TO won't return to 'normal' anytime soon.
Not going to comment on the main topic of this post, just to add that my entire firm will also be WFH until probably the end of 2021. vaccine roll-out is extremely slow in many countries and, like you said, even advanced age doesn't get the vaccine this week.
our colleagues in Toronto expect to be vaccinated after the summer/ during fall.
Can confirm. Most optimistic estimates for everyone to be vaccinated in Ontario is August/September. Likely will be even longer than that...
The issue is that all of these 1st year analysts are "type A" personalities who have excelled in their life up to this point and are now hitting a wall and don't know what to do. If I was in your shoes I would relax and not worry about it. Just do what you can do until they fire you, and quite frankly I doubt they will. Life isn't binary and you don't need to be a top-bucket analyst, there are plenty of opps out there for bottom bucket analysts who found a way to get through the 2 year IB stint. If you quit (i) you are not entitled to unemployment benefits, and (ii) you will regret it when people who did grind it out view you as a quitter. Just push back if you have too much work and put the ball in their court. If they fire you then they made the decision for you and you can move on knowing that IB/transaction-related work probably isn't for you.
I mean, I agree that the best resolution for analysts feeling like quitting early but don't want to make that leap is to just coast, but realistically that's just not always an option. It is very hard for someone to change from a go-getter, type A person to become just relaxed and indifferent. It's very stress and anxiety inducing to not be on your A-game (or at least trying to be on your A-game) all the time. We would love to just not give a shit, but that's just not who most of us are. Constantly being chased, constantly being called out...I'm sure some analysts can just brush it off and be okay with it, but I for one, can't.
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