Title: Debating Quitting Investment Banking
Hey everyone, I’ve been in Investment Banking for about 2 years now. Right from the start, I never really cared about Private Equity (PE) or Hedge Funds (HFs). As I’ve worked more closely with PEs during my time in IB, I’ve come to realize that I simply don’t have an interest in that area. It feels like a more intense version of banking with competitive and anxious individuals, long hours, and marginally more engaging work.
The primary reason I’ve endured IB is to eventually transition into a high finance career like PE/HF. However, I’m considering whether I should just make the switch to a corporate job (such as Financial Planning & Analysis or Corporate Development) now and put an end to the suffering I’m experiencing in IB. While the compensation in IB is undeniably attractive, I’m growing weary of the long hours, challenging personalities, and grunt work. I feel like I want to reclaim my life, engage in hobbies, spend time with friends and family, and explore life outside of work.
Although I understand that corporate roles may also have their challenges, I believe I can at least enjoy my personal life more outside of work. But at 26, I feel a sense of urgency to keep pushing harder. Should I stick it out in IB for a few more years, continue to accumulate bonuses, and build up my savings? But on the flip side, I am exhausted.
Has anyone here left IB or high finance early in their career? How did your career progress after making that decision? Any advice for a 26-year-old contemplating a change?
One response
It sounds like you are at a crossroads in your career and are grappling with the decision of whether to continue in investment banking or transition to a corporate job. This decision ultimately depends on your personal values, career goals, and work-life balance priorities.
Here are some factors to consider when making this decision:
Career Goals: If you are certain that you do not want to pursue a career in private equity or hedge funds and are more interested in corporate roles such as FP&A or Corp Dev, it may make sense to make the switch sooner rather than later. Continuing in investment banking solely for the potential financial gain may not be fulfilling if it does not align with your long-term career aspirations.
Work-Life Balance: It is clear from your message that you are feeling the strain of long hours and difficult personalities in investment banking. If work-life balance is a top priority for you at this stage in your life, transitioning to a corporate role that offers a more predictable schedule and less intense work environment may be the right choice for your mental health and overall well-being.
Financial Considerations: While the compensation in investment banking can be lucrative, especially with bonuses, it is important to weigh this against the toll it may be taking on your physical and mental health. Consider whether the financial benefits outweigh the sacrifices you are making in terms of work-life balance and personal fulfillment.
Long-Term Career Growth: Think about how leaving investment banking at this point in your career may impact your future prospects. Will transitioning to a corporate role hinder your ability to progress in your career or limit future opportunities? Consider whether the skills and experience you have gained in investment banking will be transferable and valuable in your desired corporate roles.
Ultimately, the decision to leave investment banking or stay for a few more years is a personal one that only you can make. Reflect on your values, priorities, and career goals to determine the best path forward for yourself. Seek advice from mentors, colleagues, or career counselors who can provide insight based on their own experiences.
Remember that there is no one-size-fits-all answer, and what works for one person may not work for another. Trust your instincts and make a decision that aligns with your values and aspirations. Good luck in navigating this important career decision at this pivotal stage in your life!