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Come on man. Some people can't handle that combination of stress + access to money. The same week another dude (a popular, well-liked, decent looking white dude originally from affluent Westchester County) high off of a coke binge at a Wolf of Wall Street style party jumped off of his luxury building in Manhattan and killed himself basically. The impact was so rough that he was decapitated and bodily organs & gore were splattered all over the place.
The cocaine certainly can't help. Some people can't even handle their booze, let alone a dangerous stimulant such as coke.
Hell of a way to go. That's the way you have to do it.
Quote:
Originally Posted by Hollywood55
You have more money than time.
That's when you know you have peaked. That's the exact point to quit.
I went through the IB associate process and so did many of my classmates in graduate school. A whole lot of graduates entering IB do not do it to make it to MD or move to hedge finds and private equity. What they want is to make enough to pay their student loans in a few years and move to a different finance-related field like a corporate finance/strategy/treasury department, nonprofit, gov't sector, PhD, etc. etc. - these plans they made well before they started the IB job. Those 80-100 hour weeks are manageable if you are young and fresh from school. The question then becomes why did that Tom Hughes who was already 29 stay in the industry for so long if he knew it was burning him out? The bonuses haven't been that great since the recession (or even 9-11) and if he wanted to make a ton of money he could have moved to private equity.
I know of at lease three times where I saw wall street businessmen walk into Smalls Jazz club at 1 a.m. to relax and have a drink. Usually came in with their business suits and briefcases looking for some relief from a long day of work.
I remember putting in 12-14 hour days two or three times a week while working as a software development intern. Think the most hours I put in one week was around 65. Don't remember ever taking a lunch break during that stretch. I worked almost every weekend. Will never forget the feeling that I had once I got a day off and my body was able to catch up to my brain. I was completely exhausted. My brain was mush.
Cannot even begin to wonder what an 80 or 100 hour work week feels like. I would like to make $120k one day, but I am not sure I would risk my personal life to do it.
Guess that is something everyone has to go through if they want to make a six figure salary...especially in your 20's or 30's.
No it isn't, I wasted a decade in the investment banking industry. I was the kind of kid like the guy in the article. Always aced my exams, did as I was told and wanted to make my immigrant parents proud. I am sorry $120,000 even $250,000 is not worth it for the amount of hours you put in.
I literally looked back and except for an nice home, I hadn't lived at all.
I thought better of it, founded a company and left. I wouldn't go back if you paid me. The second thing these articles miss out are the utter a**holes you have to work with. No other industry except for marketing can you find more egotistical and narcissistic people.
You sound young, don't take the bait, start a company work hard and you will earn a lot of money anyway!!!
My brother almost lost it in his investment banking job, my mother warned him to stick at it. I told him to leave and ignore her. He says it was the best decision he ever made in his life.
You only get one shot at life, wasting time on literally a hamster wheel for is s**t money nowadays is not a fair trade to me. If working there got you an apartment in One57 or right in the heart of Manhattan then I would get it. But in the era of Oligarchs and foreign moguls, getting a nice house in New Jersey and a scenario where you ultimately don't see your kids is a lame trade to me!!!
Last edited by nograviti; 06-10-2015 at 01:13 PM..
Reason: grammar
No it isn't, I wasted a decade in the investment banking industry. I was the kind of kid like the guy in the article. Always aced my exams, did as I was told and wanted to make my immigrant parents proud. I am sorry $120,000 even $250,000 is not worth it for the amount of hours you put in.
I literally looked back and except for an nice home, I hadn't lived at all.
I thought better of it, founded a company and left. I wouldn't go back if you paid me. The second thing these articles miss out are the utter a**holes you have to work with. No other industry except for marketing can you find more egotistical and narcissistic people.
You sound young, don't take the bait, start a company work hard and you will earn a lot of money anyway!!!
My brother almost lost it in his investment banking job, my mother warned him to stick at it. I told him to leave and ignore her. He says it was the best decision he ever made in his life.
You only get one shot at life, wasting time on literally a hamster wheel for is s**t money nowadays is not a fair trade to me. If working there got you an apartment in One57 or right in the heart of Manhattan then I would get it. But in the era of Oligarchs and foreign moguls, getting a nice house in New Jersey and a scenario where you ultimately don't see your kids is a lame trade to me!!!
but did you make more money than god before you left? Do you ever have to work again? Was your first wife a trophy or was it your second?
No it isn't, I wasted a decade in the investment banking industry. I was the kind of kid like the guy in the article. Always aced my exams, did as I was told and wanted to make my immigrant parents proud. I am sorry $120,000 even $250,000 is not worth it for the amount of hours you put in.
I literally looked back and except for an nice home, I hadn't lived at all.
I thought better of it, founded a company and left. I wouldn't go back if you paid me. The second thing these articles miss out are the utter a**holes you have to work with. No other industry except for marketing can you find more egotistical and narcissistic people.
You sound young, don't take the bait, start a company work hard and you will earn a lot of money anyway!!!
My brother almost lost it in his investment banking job, my mother warned him to stick at it. I told him to leave and ignore her. He says it was the best decision he ever made in his life.
You only get one shot at life, wasting time on literally a hamster wheel for is s**t money nowadays is not a fair trade to me. If working there got you an apartment in One57 or right in the heart of Manhattan then I would get it. But in the era of Oligarchs and foreign moguls, getting a nice house in New Jersey and a scenario where you ultimately don't see your kids is a lame trade to me!!!
The secret is that not everyone works long hours. With experience you can have a 9-5ish job making 200k+. It's true that in many positions even the back office positions, you will work more hours than you'd like at the early stages of your career. But as you gain experience and promotions, you begin to work less and make more. Though this is not always true. If you still work long hours after 5-8 years of work experience, and don't make decent $ (close to 200k) then it's time to find a new gig at another company.
Note that the money and hours I'm referring to are for non-revenue generating positions. For revenue generating positions your hours may or may not be long, but the money should be a lot more. e.g. With an MBA after 3-5 years at an IB as an actual banker you should be promoted to VP and bank at least 300k+.
Read this before I saw this post, but one of my close friends currently works at Goldman Sachs, and she is so stressed that she gained all her weight back after losing it. Now she's really fat and the last thing she wants to talk about is her job.
He could've easily put in his 2 weeks notice and left.
The dude had a degree from an Ivy League college, he could've easily found another good job...Yeah, it probably wouldn't be as much as Sachs but probably still over 6 figures..
Proof that even an Ivy League education can't even give someone common sense
Most likely didn't even have time to spend his money. So taking a pay cut to be happy wouldn't as bad.
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