At a Loss in Investment Banking
Hi,
Forgive the rant but I’ve come to my wits end. I’ve been working in IB for 2.5 years starting off in a small boutique and transitioning to EB. And over the course of the last 2.5 year my mental health has taken such a toll getting verbally abused now more than ever.
To be fair I’m not the best at my job I’m not very detailed orientated but I try hard and the work gets done.
But it’s gotten to such a point I don’t know if I can stand it. I actively feel dread going into the office everyday and realistically want to quit but my pride won’t let me. I spent so long breaking into IB from a non target school it feels like giving up on my younger self if I quit.
I’m not sure what to do next. Do I try to stick it out till my next bonus and quit do I wait till my associate promotion at the end of the year ( to be honest I’m so mentally checked out and am making so many mistake I probably won’t even be promoted). I thought about looking for PE roles but realised it would just be banking 2.0 with the same personalities. Maybe Corp dev or just something where the people are nicer.
if anyone has any advice or has been in the same situation please reach out and again sorry for the rant if you’ve gotten this far.
Look for a new job, until then you need to survive in your current job.
Careers in this industry are long and the first 5 years of your career are the most important as they set your career options. Unfortunately the burn out rate is very high during this period, all the more reason to try and salvage the experience at your current job.
Based on the experiences shared in the Wall Street Oasis forums, it's clear that your situation is not uncommon in the investment banking industry. Here are some actionable steps and considerations based on similar cases:
Mental Health Priority: First and foremost, prioritize your mental health. The industry is notorious for its demanding nature, and it's crucial to ensure you're not sacrificing your well-being. If you haven't already, consider speaking with a professional therapist or counselor who can provide strategies to manage stress and anxiety related to work.
Consider a Temporary Break: If possible, request a short leave of absence to decompress and evaluate your career aspirations away from the pressures of the job. This has been beneficial for others in similar situations, allowing them to return with a clearer mind or decide it’s time to move on.
Explore Less Intensive Roles within Finance: Since you mentioned an interest in possibly moving to corporate development, this could be a viable option. Roles in corporate development often involve strategic planning and less of the high-intensity environment found in IB. It’s also worth exploring other areas like asset management or financial consulting where the work-life balance might be more suitable.
Networking for New Opportunities: Leverage your existing network or expand it by connecting with professionals outside of IB. Insights from those in roles you are considering can be invaluable and might open up new pathways you hadn’t considered.
Skill and Resume Refinement: As you consider transitioning to a new role, make sure your resume highlights the transferable skills you’ve gained in IB, such as financial modeling, analysis, and project management. Tailor your resume to showcase how these skills can benefit roles in corporate development or other areas you are interested in.
Emotional and Professional Support: Don’t underestimate the value of support from friends, family, or even a mentor who understands the industry. They can offer both emotional support and practical advice on navigating career transitions.
Remember, it's important to make a decision that aligns with your long-term professional goals and personal health. Many have found fulfilling careers outside of the traditional IB path, and with careful planning, you can too.
Sources: Suicidal thoughts in IB, Life after Investment Banking, Unsure on what to do next or where to go as UK undergraduate, ~3 months in. I really want to quit banking. What should I do?, Desperate Monkey Reaching out for life raft
Seeing this kind of later, but Corp Dev or Corporate banking might just be the moves man. PE as you know is just like banking with fewer hours but some how even more stress. I would highly suggest taking the pay cut and saving your mental health
Just curious, since you broke in from a crap school you must have done a ton of research on the industry, what exactly were you expecting?
There’s a difference between knowing what you’re signing up for vs. actually doing it. I think we’ve all been there at some point in our career where we had reality check that what’s online or what we heard from people isn’t all it seems when we hit the desk. No amount of research can truly tell an individual what kind of culture their deal team, group, number and type of projects, and the economic environment, will be like upon joining and for the duration of their tenure. As well as what that’ll do to their mental health over time.
everything you do print it out and take a pen/highlighter and double check it
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