3 Life-Changing Lessons From Quitting Investment Banking
ฝัง
- เผยแพร่เมื่อ 22 พ.ค. 2024
- I quit my dream investment banking job...and this is what I learned. My goal with this video is to inspire some of you to take action and pursue your goals and dreams in life.
I make these videos because I wish somebody had made these for my younger self. Subscribe for $0 and don't forget to DEMOLISH the like button!
Music from Epidemic Sound → use link for FREE 30 day trial share.epidemicsound.com/ohdjti
My filming gear:
Camera (just my iPhone): amzn.to/3LvSTNl
Portable microphone: amzn.to/3sXiHeS
Podcasting mic: amzn.to/3LrjOtU
Tall tripod: amzn.to/3ZppU3t
DJI iphone gimbal (for cinematic shots): amzn.to/3PexTfa
Lighting kit: amzn.to/46bF0Mf
Note: This video is not sponsored. Some of the links above may be affiliate, meaning I could earn a small % of sales if you purchase products via the link
TIMESTAMPS
0:00 Intro
1:15 Lesson 1
4:19 Lesson 2
5:52 Lesson 3
8:00 Reflections a year later
8:43 Closing
![[TH] 2024 PMSL SEA W3D1 | Summer | เริ่มต้น สัปดาห์ตัดสิน](http://i.ytimg.com/vi/pWsl9LhC2Uk/mqdefault.jpg)
Thanks for sharing so transparently, the manager/supervisor you work for really plays a big role in determining how much you learn
Couldn’t agree more
Thank you so much for this insight, I come from a (big) African immigrant family and didn't know you had to sacrifice so much time on the weekends as well. Meaning I won't spend as much time with them as I thought. I appreciate you sharing this insight with other people! I hope you're doing better now.
I'm glad you found it insightful! Appreciate the thoughts
Very insightful lessons, well done video 👏👏👏
Thanks 🙏
Keep up with the good work 💪🏾 thanks!
Appreciate it!
Thanks, I resonate so much with this. had some similar kind of epiphany as I left my engineering school for my first job at a 'prestigious' place. I left a year later, and it was the best decision of my life.
Glad you made the jump and are happier now! Thanks for being here
very honest and good lesson learned. I learned this doing my 2nd job. So I now have very clear boundaries and if they don't fit the company's view on work value then it is probably just a stepping stone at the end of the day.
Glad to hear you learned that lesson earlier than most! Thanks for being here
Incredible content ! I hope your channel will grow because many people would highly benefit from your insights ! Good luck for the future ;)
Thank you! Appreciate the kind words
Great video bro! And btw, your edition rocks!
Appreciate it Felipe!! Thanks for being here
Very informative. Keep doing these informative blogs.
Thanks Rezaur! Glad you are finding these videos helpful!
Amazing Content ! It would be cool to see you talk about how you did to improve your power point
Thanks for the idea!
As someone who was a former IB Analyst, that same thing you said on 5:32 kept coming back to me especially during the early COVID years and it's the goddamn truth. We always forget that we're just another asset to these companies and that they truly don't care about us in both the short and long-term. We're easily replaceable and god forbid if we did die whether it was because of work or outside of it, all we would get it is just some sad email about so and so passed away and condolences to our family and all that BS.
Amen brother - glad this resonates with a fellow ex-banker. I do believe in hard work and sometimes the job requires some amount of sacrifice, but never at the expense of your health or life. Thanks for watching!
@@matthuang21 Whenever you seek something to read, remember:
Basic Information Before Leaving Earth = B I B L E (KJV)
and a search: BIBLE + FREEMASONRY.
Good channel, subbed, just seen this video. You touch on alot of important things, mainly the trade off of time v money, same reason I got out of VC, still unsure what I want to do.
Glad you resonated with the video! Agree that the trade off of time vs money is an important one - best of luck on your next move
Matt as someone who's about to enter private equity and join a small firm, these lessons and insights are imperative. You're so right about lesson #1. Thank you for this video , huge fan of your videos. Your editing and content creation is really good for someone who's a consultant, do you have any advice for passing PE interviews ?
Thanks Timothy! I love hearing from people in the industry who find my videos helpful. My advice for passing PE interviews is (1) be able to build a 3-statement LBO model in excel from scratch in 90 mins with minimal errors, and (2) have your behaviorals down cold, especially any deal walkthroughs. For the 1st tip, highly recommend Peak Frameworks - hope this helps!
I wish these videos were out when I started in finance in 2016, I quit after a year too.For Lots of the same reasons.
Glad you resonate with the video! Thanks for being here
how would u suggest building business acumen for interviews for interns/grads or general technical interview advice ?
It depends if you're going for banking or consulting. For banking, go through the BIWS technical guides and know your valuation (e.g., "walk me through a DCF", "what are 3 ways to value a company?") and accounting really well (e.g., "how does a $10 increase in depreciation impact the 3 financial statements? How does an increase in net working capital impact cash flow?).
Consulting doesn't require you to have a specialized knowledge base like banking, but you will still need to understand basic accounting (rev - costs = profit, rev = price x units, costs = variable costs + fixed costs, etc.) and understand at a high level what makes a business attractive.
For general business acumen, I would recommend business strategy books like "competition demystified" by Greenwald and use the CCCP framework when thinking about companies (Company, Competition, Customers, Product). I'd also recommend you skim this Credit Suisse paper on competitive moat: csinvesting.org/wp-content/uploads/2013/07/Measuring_the_Moat_July2013.pdf
Hi Matt,
I also work in Wall St and I've been with my company for a little over 3 years. My manager is pleasant to work for but often times I feel like I have no growth in my role. I've had my fair share of terrible bosses in the past and thus this manager is the only reason I am and keeping this job. What advice can you give someone like me?
Hey Jason, thanks for the question! I can empathize with you and to draw an analogy, your situation sounds like somebody who has dated a few toxic ex-girlfriends in the past and has finally found someone that treats you well, but maybe you feel doesn't push you to grow or support your desire for change as much as you would like. This is where it becomes a really personal decision, because breaking up isn't necessarily the answer, and it sounds like you've realized at this point the grass isn't' always greener on the other side.
This is where it really depends on what stage of life you're at and what you really value. Do you see yourself at this company for the rest of your career? How much do you value growth vs stability? Is there any way you can still grow in your current role (maybe this involves having a candid conversation with your boss) before you decide to pull the plug and look for other opportunities? Imagine yourself 10 years form now - what will you have regretted more? Leaving or staying? Hope this helps.
This is the most underrated channel in Finance
Thank you!
Bro I'm in similar position, thinking about quitting actually fantasizing ...
Love the username. And yeah I feel you, it’s really tough when you’re in the midst of the grind at work and it feels like there’s no end. Best of luck with navigating the journey - you got this!
What are you doing now?
Management consulting at BCG
@@matthuang21 Why did you decide to get into consulting? Is there more work life balance at BCG?
@@sarmadwaseem8349most likely cause he needs to pay his bills (I.e. rents, foods, etc)
Didn't give it long enough. Eventually it gets better.
Don't think so. I work as an SVP. The challenge is whether you work in a well supported and resourced group. How good are your managers judgement calls.