Alright, so this is a highly hypothetical question. But let's say that an individual gets a post-MBA position on the buyside (specifically thinking about PE/VC). After 2-3 years, said individual decides to take a few years off to do something grand and exciting - travel the world, climb Mt. Everest, train for an international competition, start a rock band, something of the sort. Would it be possible to return to the finance industry after taking 3 or so years off, and pick up right where you left off? Or is there some sort of stigma where you're stuck in no-man's land, not quite a senior but not quite MBA entry-level?
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I can't imagine you could ever look at finance the same way after climbing Mt. Everest, and yet stranger things have happened. edit: If you want to give me a SB for this insightful, educational, and very useful post that completely answers your question then.... I guess I won't stop you.
Simple answer to your question is, not really (extremely extremely difficult). You'll basically be lumped in with the rest of the kids who are unemployed or got laid off from their finance jobs. The rule that you need a job to find a job is the most true in finance. I'm guessing you haven't had much experience with headhunters but if you don't have a job, even if you were at GS IBD, they will ignore you.
Had this happen to a friend where he was already in final rounds with a PE firm, lost his banking job, and they cut him out of the process IMMEDIATELY. If you took a few months off, it might be a bit better but if you're talking 3 years, the industry will see your experience as ice age old and personally I wouldn't touch those candidates with a 10 feet pole. It shows that they're really not a good fit for finance and probably need constant breaks to go "find themselves". Most employers just want a good grinder who is easy to work with. Someone that is reliable and will be there day after day to build out the business/clients/source deals/etc.
It would be better to do the grand and exciting stuff pre- B-school. It makes for a good app, good reasoning as to why you left the field and want back in and is good stuff for interviewing with companies because it shows that you are an interesting person who wants to experience life.
Alternatively, if you have built up a strong network, I am quite certain that there are ways back into finance.
Thanks for the responses; might consider doing something grand pre-MBA then. I have a few items I need to knock off my goals list before I get old and decrepit.
Any more insight would be appreciated!
Chicandtoughness,
My wish list is probably very similar to yours. I'd like nothing better than to take five years off with the cash I've saved up and travel the world. I've even found some nice Japanese language schools I could camp out at for a couple years. However, the sad truth is that sabbaticals are just not an acceptable practice in finance. There are SO many people clamoring for these positions that it is easy to simply filter out the "oddballs" that either lost their job or felt the need to take time off. Furthermore, while excel skills and knowledge of the deal process do not go stale after just a few years, these aren't what VP level professionals are hired for.
As mentioned above, the single best time to do it is pre-MBA. Unfortunately, MBA programs don't allow deferrals for anything but the most extreme circumstances. Unless you're happy with taking just six months after being accepted and before starting the program, you'll need to do a "sabbatical" that enhances your MBA application. Things such as the Peace Corps come to mind.
With that in mind, my advice would be the following: Work for a couple years in your current role. Afterwards, try to secure a pre-MBA job at a PE/VC firm. Work for two more years. Leave and begin your "grand-adventure." Do something like the peace corps. Alternatively, if you don't want structure, find a way to demonstrate ongoing career or personal development while you aren't working. Learn languages, do non-profit work, get involved in a local organization (preferably in a leadership capacity). Then, apply for your MBA program and attempt to re-enter the finance industry. This isn't a foolproof plan and you'd need to execute it well, but it is probably the safest route to taking a sabbatical and still having a shot at a high finance career.
Alternative routes exist such as buying massive amounts of lottery tickets, but those have not been fruitful for me to-date. Individual results may vary.
Perhaps I'm just not cool but I think finance is the grand and exciting stuff.
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