I QUIT INVESTMENT BANKING

I finally did the thing

Handed in my two weeks notice basically i’m quitting before my two-year mark before i would get promoted to be an associate zero i can walk through my rationale and just tell you my story in general of why i did it how i did it and just answer any questions that may be commonly asked when one quits a job so i always kind of knew that this wasn’t something that i

Was going to for the long term more so because of the health implications and just the long long hours and when i started it just further confirmed that i honestly did really enjoy my experience at least during the time when you know the pandemic didn’t send us all into work from home i was close to my class i was working with people that i liked and my group was

Actually pretty interesting most of the time in terms of the industry we covered the clients and the type of deals that we did my group was very social we would hang out a lot and we were just very open and to helping each other i have people in my class that i’m still close to and when we first started we would just go to each other’s desks like help each other out

So it was a very collaborative environment which i really enjoyed i had always had this perception of investment banking being extremely cutthroat where everyone would just be sabotaging each other because of the bonus at the end of the year and i love that that was not the case i honestly thrive off of teamwork environments i’ve always enjoyed just being around

People and just going towards a common goal or a vision so this was a job that was really suited for my personality in that sense simultaneously it became very clear of why it wasn’t sustainable and people say they work 80 to 100 hours and i know that’s more on the extreme end of it but once you are in it and you end up working on basically every day for almost

The entire day it is going to take a toll on you personally i work for 16 hours a day on average i’m trying to have a social life as well but that is mostly at the office so i was very lucky to have that and i also want to try to get sleep and be healthy and it’s one of those like you know those triangles they talk about when you go to college it’s like a social

Life like sleep or good grades it’s kind of similar to that where it’s like but it’s like work and then maybe a social life and then also like your health but you can only choose like one and a half instead of two or maybe two maybe i’m just being dramatic about it halfway through or less than halfway through in around march that was when the whole coronavirus

Situation really blew up we started the whole work from home initiative and yeah all of that was gone during my time working from home that’s when i realized what my favorite part of the job was and that wasn’t the deals that was not the transactions it wasn’t all of that stuff like fun stuff that people are excited to do on the job it was actually the people just

Having the camaraderie of being in the office of everyone being able to help each other go into meetings in person and having not having that and even though we would still communicate on like phone calls like zoom or facetime etc it became very isolating just like doing the work and even though you were still working in a team not being in person just really i

Guess shed a light on what aspect of the job i enjoyed the most and obviously this is all coming from my personal experience and it was cool to work on live deals it was really cool to be able to close some really big transactions that it became clear to me that even if things did go back to somewhat normal like this was not something that i want to be in the long

Term um i remember being at home and just like you know when the weeks get really busy they are really really busy you kind of forget to eat or you know you just wolf things down you just put your health second or thorough sometimes and that’s how like burnout happens and i have experienced it i know most people have i think this job is fit for few and i’m not

Saying that in a negative way i just say that because you need so much stamina resilience especially when you’re working so many hours and you’re working in a group that just has good deal flow for better for worse would have been better if you have like protected weekends or if you have a pencil down policy some places do a good job in implementing it and some places

Have good intentions of implementing it but that tends to go away after a while just when things get extremely busy when you don’t really have an option everyone’s just spread really thin especially when it comes to turnover time and people start leaving it becomes increasingly more difficult to do that especially when a lot of these asks are from clients and they

Have a specific deadline in mind that they’ve communicated to multiple banks in the process it can be kind of rough sometimes when you know you’re putting the rest of your life on hold you don’t have scheduled visibility you maybe try to plan for like say a dinner with your friends on the weekends and even that gets blown up to be completely transparent um i

Have missed almost every single major holiday okay let me rephrase it as in i have had to work almost every single major holiday and this could range from a couple hours that day to actually working the full day i’m lucky to say it’s mostly been the prior where it’s usually just a couple hours yeah there has never been a holiday where i was like okay i have the

Full day off and i get to completely spend it with my family over the past year i think the last one that i did have it was my first christmas so when i was the first channel and i just started for a couple months i did have you know a christmas where i just like didn’t have to worry about anything i spent the whole time with my family and we’re going on a trip

Which was perfect and again these weren’t my vacation days these were actual holidays which is different for my vacation i definitely had my full week off during vacation and i was lucky to have that during the holidays when you expect to have in addition to your vacation it was rare in my experience to get the full holiday off unless i had made it my vacation

So i felt like my vacation days were just like making up for the missed holidays that i had to work also speaking of vacations i’ve had to postpone my vacations twice what i mean by this is in my group and it differs from group to group differs from bank to bank really we would have one winter vacation and one summer vacation this past winter vacation i’ve had

To postpone twice and during my summer vacation i’ve had to postpone as well and that was for a live process it’s just part of it and i mean when you go in like you know that this is what you signed up for you know that this will inevitably be the case by signing that contract you are putting your career as your number one priority and it shows it shows in many

Aspects of your life i mean i’ve been lucky enough to have friends who for the most part really understand what i’m doing and are very very understanding of what i’ve had to cancel when i’ve had to reschedule things or just tell tell them like hey i can let you know like an hour beforehand if i can hang out and so i appreciate that they had that flexibility i’m

Speaking about friends who aren’t in the industry themselves do i regret going into it no i don’t think so i think it’s really given me a lot of quantitative skills but not just that like skills that would be helpful in a professional manner but also qualitative skills about working in a team you know being able to get along with the people that you work with not

Just on a professional level but just like you know on a personal basis as well being able to find mentorship and i think one of the greatest things that i’ve gotten out of this and i think many people who have done at least a two year stint can say the same thing but it has built a lot of resilience and stamina for me this is one that really builds character uh

You go through i don’t want to say very trying i do think it’s also very rewarding very trying and very rewarding two years of your life to be able to say you survived it and did a job that not everyone can do or is willing to do is something to be proud of and at the end of the day regardless of what job i end up doing next i know that i can do it like i know i

Can survive it um i know that you know typically other industries won’t have us insane of hours and if it does then i’m like okay i’ve done it before the thing is i don’t regret it because i’m leaving now but i know that if i had stayed longer i would have just because of the sacrifices i’ve made in other aspects of my life i looked at my my lifestyle in my 20s

And i was like okay like this is great i can do it from my early 20s but i started to picture like how do i want to really structure my life is this what i envisioned myself to be doing throughout my 20s and the recurring thought i had was there’s so much more to life there’s so much more that i want to do in this decade that is very formative in my 20s and i

Don’t want to miss out on that i don’t want it to be too late and because i’ve been spending my hours at the office and i know that in my deathbed i won’t wish i won’t wish that i got on another live deal i don’t wish i had closed one of the biggest deals in the world that you know was very transformative company will probably go down history as like one of the

Coolest deals like that won’t matter to me at the end of the day i know what will matter to me is experience that i had all the you know memories that i’ve made with people that i really really care about and yeah i do want to be working at a job that i really like and i think it’s really cool but you know i won’t be wishing that i had done more in my job putting

My 20s on a hold in a way but putting my career on a catapult trajectory was a trade-off that i was willing to make i just know that if i continued to make that decision at a certain point i would have regretted it i mean i would have loved to be able to stay till the end of the bonus season as well as just being promoted to an associate would have been great um

The timing of my new job which i will talk about and this just didn’t necessarily align at the same time i don’t regret it because i feel like i’m being made up for it in different ways if that makes sense at this very point at least in my group it has everyone has been incredibly stretched thin and i know of you know potential other departures that would have

Made made my burnout even stronger like okay basically everyone is extremely extremely crap completely being crushed right now and unfortunately i know that by me leaving it only contributes to that but i know that if i’d stayed those months it would have just been like non-stop non-stop until i decided to leave in like in during the summer so even if i knew i

Was gonna get like the top bucket analyst pool and i was gonna get promoted and i think a factor of that is just being excited about the next thing that i’m doing yeah it’s uh pretty surreal i think reflecting back on my year and a half i feel extremely fortunate to have met the people that i have met i have found people who are more senior to me who are willing to

Champion me and you know it was so sweet when i was on calls with them they basically said get her down the line like love to keep in touch but if you ever need a recommendation a reference anything like that later down the road like please don’t be a stranger and reach out to me and i’m planning on just like grabbing drinks with them even if we aren’t working at

The same company i think it’s really important to keep those connections to never burn bridges and that’s why you definitely should put in a two weeks notice and i will discuss my whole quitting resigning process as well yeah i have like more than one person who i can call my mentor and i think i’ve really really been very fortunate it was very bittersweet when

I was sending out my email when i was doing my rounds of calls and just telling people and i was so so nervous that it would not necessarily be taken well but one of my mentors said this to me and he basically said everyone should be supportive of your decision and if they’re not that’s probably not the kind of person you want to continue you know a connection

With anyway everyone who genuinely you know cares about you should be supportive that you’re going towards your career you’re doing something for your career that is more and more aligned with you and they can they should only be happy for you if this is something that is more suitable for you those are really comforting words and i mean it kind of sucks to not

Be able to give people hugs like in person or be able to shake their hand and say like thank you so much for you know everything that you’ve done for me and all of that but yeah it’s great to have some people that i would and still plan to keep in touch with who i feel like no matter what i do i can go to them for advice no even if we don’t have this company as

Ours our connection yeah it’s been quite a ride you know what am i most excited for i’m most excited to sleep in and just during the transitionary period where i’m not actually working um before my new job is to sleep in do whatever i want revisit old hobbies and just be able to schedule things without having to worry that it’ll be cancelled because like something

Popped up and now i’m working the rest of the evening i don’t know if it’s just me but just like waking up without like your heart beating out of your chest like the moment you wake up you know you have so much on your plate and there’s so much to do um it’s really nice just waking up without that like sense of like oh my god i need to get up immediately and get

Started with my day because i have like a million one things i need to do asap the lack of stress has been unreal and i love it again it has made me much stronger it has taught me how to manage many difficult situations and have hard conversations i’m very grateful for everything that’s offered me i think the biggest takeaway takeaways would have is the experience

That i’ve had as well as the people that i’ve met um and these skills are you know very transferable to other things and i believe it is a signaling effect to other other companies even if they’re in different industries that they understand that it takes some level of work ethic motivation ambition and drive as well as quantitative skills to be able to go through

Something like this and definitely not fit for everyone i mean i have friends in my class analyst class they decided within the first few months that this wasn’t for them and they left yeah it’s kind of like one of those like marks that you can have or you can say you know i did it i also feel like i was well appreciated when i was there and i know there have

Always been horror stories about bullish brackets and i kind of had my expectations set there before i started but the takeaway i can have is overall i’ve had a positive experience obviously there were trying times that led to a severe burnout and you know moments where you felt very overwhelmed and that you wouldn’t be able to get through it but you know when

You have the right people that you’re surrounded by like you guys will get through the adversity together and just become a closer knit team because of it and those people you guys know who you are so if for whatever reason you end up watching this video i want to say a huge thank you you basically made my experience what it was and you have been a very important

Part to the first job in my career so i cannot express my gratitude enough and during the most difficult times the latest nights of little if any sleep you have made it possible for me to think of it in a growth perspective i hope this video is helpful to anyone going through the process i mean it was helpful even if no one watches it was helpful for me to be

Able to talk through it and just kind of reflect in in a perspective where i haven’t been able to because when you when you do start working it’s just go go go non-stop you don’t have a chance to kind of just sit down and think about it i hope someone finds it helpful whether you’re thinking of going into it if you’re going through it right now or even if you are

An ex-investment banker like myself so thank you so much for sitting through all of this and um if you’re still here you’re a real one so thank you

Transcribed from video
I QUIT INVESTMENT BANKING By chiuchiutrain