As the title states, I quit IB and felt that due to the lack of "Leaving IB Posts" I felt that I should share my story with you since I've been lurking on this site for a while. I'm writing this for those who want to leave IB themselves but are holding themselves back and also to younger kids who are even remotely considering going into Banking.
First a bit about me
Graduated from Baruch College with an Economics degree in May 2018 with no offer and only a BS PE Search Fund Internship underneath my belt. I originally wanted to be an M&A attorney but after taking my LSAT in Dec 2017 I realized how miserable I would've been as a lawyer let alone just being in law school. Post graduation I got an internship at an Emerging Markets Brokerage shop as an intern that did a lot of grunt work and worked from there on to their sales desks and build a ton of decks and a ton of reading. In Dec 2018 I was given an offer from a lower middle market boutique IB and an offer from the S&T firm and took the job at the boutique, since I wanted to focus on the US market instead of Emerging. After having a taste of the work that is involved in finance I can say this: **It is an incredibly miserable and boring job and has changed me to a point that I didn't like who I was becoming and just dreaded going into work everyday. **
Why I'm Leaving
The work and the job just suck. period. After browsing through this site for I already know i'm gonna get hit with monkey shit and a bunch of guys saying you have no idea how good you have it working in an office when there's people out there busting their ass wishing they'd make the kind of money you would be making for doing jack shit. And while that's incredibly true, I've realized that no amount of money is worth me sacrificing my own happiness and well being. I found that the work I was doing was incredibly boring and administrative. A lot of junior bankers love to boast that "I'm an IB Analyst I make fuckin bread and close deals" when the reality is that I was just an over glorified secretary who's job was to just STFU and push the deal forward. I couldn't stand coming into work, working on deals that I didn't give two fucks about all for a bonus come year end. To top this all off I realized that if I were to continue a career in IB this would be my life for the next 6 years from analyst to associate until i'm put in a more sales-esque role as VP. Which even then I thought long and hard and I wouldn't even want to be in a sales role where all i'm doing is selling you my services for something I could care less about, ie helping your company raise money for whatever project you want to do, or for selling your company to a potential acquirer.
IB culture fucking sucks. When they say the people you work with really matter in the office, it's incredibly true, but this is my own self selection and bias coming to you guys. Every single person I've met in finance is incredibly money focused and don't seem to have any other interests or curiosity about life. All the way from analysts to MD's all that's on their mind is always about money and just closing a deal to see their next bonus, which they never happen to even spend since they never have any free time to even spend it or use it. Coming into work I just saw that people in the finance industry are just too money focused for me and they're not living life because that's all they can think about. The culture is also very much old fashioned and not up to date with current times. My former shop only gave me 10 days vacation time and expected me to be chained to my desk and on call at all times.
They're too scared
Going in I knew this. I've read all the posts. I've experienced the always need to be on call at my EM brokerage shop. At first I was able to tolerate because I felt the excitement of getting to say i'm an Investment Banker! I'm finally getting to where I want to be. But the excitement fades aways fast when you're dealing with BS work all day long and you're expected to live at your desk. Even taking a vacation to go travel for 2 weeks is seen in a bad light. Now this one point doesn't just go to IBers, it also goes to Accountants, Lawyers, and Consultants. All of these high office positions are filled with people who are pussies and are incredibly risk averse. Every single person who I've met that work in these fields are always again focused on saving as much money as they can and always talk about doing what it is they think they want to do, but never pull the trigger. They're too scared. They think and think and think but never act. I've used to live life this way but got sick of it because I found it was getting me nowhere. I couldn't be surrounded by people who lived like this so that's another reason as to why I've chosen to leave.
Some of the older guys may disagree with me since they probably have been through their fair of shit when they were younger and are probably thinking that I'm just bitching but to me this culture of living to work 24/7 for someone and to be grateful for the job you have is an incredibly toxic way of living and no amount of money is worth it. It's total bullshit and I'm done dealing with it. I wasn't put on this earth to work at a desk and then die, and i'm choosing to leave it while I still can.
I'm going back to school to become an Engineer. Something that after a long time of soul searching, asking myself what it is I want to really do with my life, and putting myself in the perspective of the scene from fight club where Tyler holds a gun to the clerks head and asks him what is he always wanted to be but just never did for whatever bs reason he told himself, I realized I wanted to be an engineer and am going back to school this fall to get my second Bachelors, studying Electrical Engineering. I realized I'm an incredibly curious person and ever since I was a kid I always loved tinkering and building things (thanks legos). This stemmed to me from one day of just sitting at work and asking myself how tf does the computer in front of me work. And for the life of me I just could not answer my own simple question as to how this machine that I grew up with my whole life, works. I want to live of a life of pushing the boundaries of technology and creating inventions for the betterment of humanity. I don't want to be the banker reading about it on the WSJ, I want to be the engineer who created it and is now moving on to creating something totally awesome again as well.
Some of you may see this as a rant that is just me bitching about IB and that's fair, I am fed up with the industry as is. But to those of you who feel like you're stuck in IB and are miserable. Do what I did and act on your passions. Find what it is you really want to do. Ask yourselves the big fucking questions like is this who I want to be? Is this the kind of life I want? Liquid af but miserable at work and never get any time off? Take the leap cuz life is an adventure. You're going to end up in the cold dirt anyways and no amount of money can ever be taken.