Comments (78)

  • Analyst 3+ in IB-M&A
Aug 5, 2021 - 9:12am

I currently do Corp Dev and it has a pretty solid WLB. There are still weeks where you'll get crushed on live deals and work banking esk hours but for the most part you really work anywhere from 30-50 hours. Some weeks, especially with wfh, even less. Pay is obviously the biggest draw back. My company doesn't bonus until you reach the manager level so base is all you get. With that being said I would say my base is inline with bankers at the associate level. 

Aug 5, 2021 - 11:44am
NewIndustryHorizon, what's your opinion? Comment below:

Business school gives you the option to rethink your career path. Otherwise, agree with other - corp dev/startup strategic finance. Issue is these can be super hit or miss.

ie. I've seen the typical 2+2 IB/PE candidate for what I'd consider a less than desirable startup corp dev gig. Person I'm thinking of likely could have gotten into a M7 and as a result, a corp dev job with far greater potential (their corp dev startup gig does have some unicorn potential but have heard the company's is in constant internal conflict between the tech/development side of the company vs. the finance/accounting which is the CEO's background). 

  • Intern in IB - Gen
Aug 5, 2021 - 3:49pm

What does this mean?

Aug 5, 2021 - 1:57pm
Incoming cfa level 1 charterholder, what's your opinion? Comment below:

Asset management. I've heard great things about asset management divisions within some insurance companies where the pay is competitive, and hours are fantastic. Additionally, you have job security because the firm needs finance people to invest excess capital and manage said capital. 

Array
  • 2
  • Intern in PE - Other
Aug 6, 2021 - 8:50am

Even the PE/PC arms of insurance companies are pretty chill. They are typically much more relaxed than regular PE/PC funds.

  • Analyst 3+ in CorpStrat
Aug 5, 2021 - 2:04pm

Asset management and corporate development, although the latter may require you to hop between companies a tad more frequently. I have a few friends that work in family office PE that have decent WLB (~60 per week) but others at shops of similar size that get crushed, so I'd consider that choice to be way more hit and miss.

  • VP in IB - Gen
Aug 5, 2021 - 3:45pm

I hear unemployment has a great WLB, heavily skewed towards the life part.

Aug 5, 2021 - 4:05pm
Lvl99Bankstanding, what's your opinion? Comment below:

All of the mentioned exit ops in this thread are directly finance related. That's cool and all but I would love to hear about exit ops that are outside the box.What about the Treasury Department or the Department of State? What about the NSA? Or product management in your respective sector?

A two year analyst stint leaves you with three very marketable attributes 1) Proof that you can work very hard and efficiently 2) That you can perform excellently detailed analysis 3) You can confidently present information to people/connect with people and 4) Your adaptable and a quick learner.

Any analyst leaving their analyst stint should be able to sell themselves well to so many different organizations.

  • Intern in IB-M&A
Aug 5, 2021 - 4:09pm

Interesting point. I've always wondered if anybody went IB -> FBI/CIA type role? The one big drawback is probably pay

Aug 5, 2021 - 4:31pm
Lvl99Bankstanding, what's your opinion? Comment below:

The paycut is definitely real. But the job security, defined benefit plan, and the exit options available to someone with both IB and intelligence services on their resume can be very interesting, lucrative, and specialized. For example It's not uncommon for firms who go heavy into emerging market investments to have due diligence done on the ground as well as on paper. And who else would be better at that than someone who understands both finance and intelligence sourcing? Bonus points if you know another language and if your smart enough to land a FT position in IB your smart enough to land a seat at the DLA for a threat language.

Aug 6, 2021 - 9:29am
Angus Macgyver, what's your opinion? Comment below:
Lvl99Bankstanding

three very marketable attributes 1) Proof that you can work very hard and efficiently 2) That you can perform excellently detailed analysis 3) You can confidently present information to people/connect with people and 4) Your adaptable and a quick learner.

Good thing "attention to detail" isn't one of the items you listed

  • Intern in IB - Cov
Aug 7, 2021 - 4:15am

Heads up former bankers would be bored anywhere in the State Department but the Foreign Service. Family member did the FSO path in the 90s and got to travel Europe and the Middle East. It's a very cool gig but probably closer to consulting than banking. More recently she's in one of the offices of citizen services and it is very bureaucratic. You would need to legitimately care deeply about the function to put up with the red tape combined with relatively low pay. GS (as in GS13, GS15 etc.) pay scales are very rigid and public information. You would have to spend a few decades there before reaching past 200k and they don't do bonuses. 

If you're young enough, fit, and the Navy SEAL path is interesting, then diplomatic security hits a couple of the same marks. Our neighbor protects ambassadors in central Africa and similar places and really enjoys it. 

Aug 9, 2021 - 4:59pm
American_Psycho11, what's your opinion? Comment below:

It was always my dream to be a foreign service officer and work for the state department. Unfortunately, I got married and convincing a spouse who has her own career and life to up and move to Egypt or Cambodia or Paraguay or wherever else they send you for 3 years while I work for 40k a year as an FSO isn't as easy as you'd think

I gave up on that dream but still lie awake thinking about it and if I would be happier 

  • Prospect in HF - Other
Aug 7, 2021 - 4:09pm

If it's distressed/special situations then it will get just as sweaty as regular PE

Aug 6, 2021 - 12:43pm
Klavin, what's your opinion? Comment below:

There are career paths with significantly better WLB than IB out there that still allow you to climb the corporate ladder. The compensation doesn't increase as steeply, and the career field might not be as prestigious, but that's the trade-off.

  • Business School in IB - Cov
Aug 7, 2021 - 12:20am
Aug 7, 2021 - 11:10pm
marketMergerMaddie, what's your opinion? Comment below:

I'll add to that for AM. Did exactly that (IB --> AM). Has been wonderful for work life balance and hasn't resulted in a super significant pay cut, and may in the near future represent significant possible pay improvement. 

  • Analyst 2 in AM - Equities
Aug 9, 2021 - 5:01am

Asset management is awesome, especially if you're at a shop like Wellington or Cap Group. You can be a career analyst as opposed to PM and consistently clock in 350-500K all-in with ~60 hours a week. The CFA is a bitch though.

Aug 9, 2021 - 11:55am
Shadow Dong, what's your opinion? Comment below:

Transition into roles at large consumer drug funds. I think mega-funds like (Sinaloa, Jalisco New Generation, and Gulf) are definitely harder to get into. They largely want MBAs and target the usual M7. Def better WLB and you get paid more. 

  • Analyst 1 in IB-M&A
Aug 9, 2021 - 8:14pm

The only drawback I would imagine is if you gotta sit through their beheading videos 🤮🤢

Aug 10, 2021 - 5:11pm
Case_Monkey, what's your opinion? Comment below:

I'm in consulting, but a lot of the strategy jobs that recruit consultants also extend to IB analysts and can pay great comp with good WLB. Standard corporates are usually $110-140k-ish, but big tech or a hot startup can be in the $160-200k.

Aug 10, 2021 - 7:57pm
jaredfromdeutschebank, what's your opinion? Comment below:

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  • Analyst 1 in PE - Growth
Aug 10, 2021 - 8:13pm

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