Life on the Road

[houyi]

No wonder you're feeling burned out. Anyone working 80-100 hour work weeks is going to burn out!

Are you in investment banking? That's the only industry I've heard of where 80-100 weeks are common. Big law and public accounting can hit 60-70 hour weeks at times, but almost never 100 hours.

If you're earning $100k a year, your hourly rate earning is more like $40-50k at a more normal job. And when you factor in the higher taxes on the higher income, it's even worse.

Why not jump into an analyst position with normal hours?

Yeah, you've got the right idea about what I do. I can't remember if I've mentioned exactly what I do on this website, but there's only so much that requires 80-100 weeks (MBB consulting, Cravath/Wachtell biglaw, bulge bracket banks), so it's pretty easy to figure out. Although, in the interest of full disclosure, it's not like it's 80-100 every week, just I'm not shocked when it is.

I make a decent bit more than $100 K, but currently the only value money actually has is building my "F-U fund." I'm either working or APing the majority of the time, so I don't actually get to spend the money on anything. Taxes are pretty ridiculous though.

I've tried to pull buy-side positions that are more interesting/have more reasonable hours, but no luck. It's sometimes difficult if you don't have a hookup or you weren't reaching out while working in undergrad. I've got no interest in working at a smaller bank or in some kind of 9-6 compliance position. The only incentive to working in my position is to: a) have a shot at one of those "masters of the world" positions, and b) get prestige enough to grant access to one of those super-cool exit options.

Maybe I've just got a bad case of the wanderlust, but I've really been wanting a position with more freedom for some time now. From what I gather, though, Moo, you're quite experienced in the whole AP lifestyle, so I definitely take your criticisms seriously and thank you and everyone else for your replies.

[Marvin]

Yeah, you've got the right idea about what I do. I can't remember if I've mentioned exactly what I do on this website, but there's only so much that requires 80-100 weeks (MBB consulting, Cravath/Wachtell biglaw, bulge bracket banks), so it's pretty easy to figure out. Although, in the interest of full disclosure, it's not like it's 80-100 every week, just I'm not shocked when it is.

I make a decent bit more than $100 K, but currently the only value money actually has is building my "F-U fund." I'm either working or APing the majority of the time, so I don't actually get to spend the money on anything. Taxes are pretty ridiculous though.

I've tried to pull buy-side positions that are more interesting/have more reasonable hours, but no luck. It's sometimes difficult if you don't have a hookup or you weren't reaching out while working in undergrad. I've got no interest in working at a smaller bank or in some kind of 9-6 compliance position. The only incentive to working in my position is to: a) have a shot at one of those "masters of the world" positions, and b) get prestige enough to grant access to one of those super-cool exit options.

Maybe I've just got a bad case of the wanderlust, but I've really been wanting a position with more freedom for some time now. From what I gather, though, Moo, you're quite experienced in the whole AP lifestyle, so I definitely take your criticisms seriously and thank you and everyone else for your replies.

Do you have your MBA?
Doesn't the "MotU" track involve:
1) Ivy league
2) 1-2 years as an analyst at GS
3) 2-3 years at a top PE firm or hedge fund
4) MBA at HBS/Stanfotd/Wharton/Booth
5)profit
6)make partner/start own firm
7)get parodied in some comedy about WS excesses

If you go that route then it's normal to do 3-6 months of globetrotting before you start your MBA. If you love it then blow off business school and never look back, if not then do the MBA things and you're still on track for steps 5, 6, and 7.

[Exoter175]

Hi all,

When I first joined the forum, I was thinking about quitting my job in finance to AP full time. I eventually decided against that and have been simply playing part time the past year. I had a good year APing (high 5 figures) and with my lucrative day job I've got a bankroll well in the 6 figures. By the end of this year I should know whether I'm on the road to upper management at my firm. I'm not exactly sure if I even want to be, but if I am not I need to decide what I will be doing. I'd like to revisit the possibility at least of playing full time. So, for the traveling full timers here, a few questions:

1) What kind of vehicle do you recommend? I'd like something comfortable if I need to crash where there's not a decent hotel in sight, but something about the most logical choice for that (hippie van) rubs me the wrong way for some reason (maybe it's just my generation?).

2) Fitness is important to me. How do you stay in shape? Nationwide gym membership (any suggestions)? YMCA?

3) How long do you generally stay in a "region" before moving on? Or is that highly dependent on a region's specific heat level?

I would greatly appreciate any thoughtful advice.

If you're traveling you need to key in on Comfort, Reliability, and Gas Mileage. As a former "car guy" I cannot stress it enough how much Reliability is going to play a large part here, far and beyond what Comfort and Gas Mileage will get you. Beyond that, you need to gauge your level of play and whether or not you'll be able to earn comped rooms easily and/or play at a high enough EV to just buy a 30-50 dollar room for the night. A lot of times I've haggled with Hosts/PB's about getting a cheap room rate for the night if they wouldn't comp me outright. You'd be surprised how well the "listen, I'd like to stay a while and play, but if I've got a three hour drive back home, I'm going to have to cut this conversation short" line works.

It doesn't sound like you'd be working the angle of a "low roller" so I doubt sleeping in your car would happen all that often. I'd stay away from a Hybrid/Electric car for the sake of maintenance. Though a Prius gets great gas mileage, a single faulty cell in the power supply will set you back thousands, and several days, possibly up to a week depending on the geographical location of your break down. I'd stick with a compact/sub compact gas motor with a manual transmission or something of the A6/CVT variety.

I'd suggest the Honda Civic, Nissan Sentra, Ford Focus, and Nissan Versa. All have factory options for gas mileage upgrades like under body spoilers, deck lid spoilers, low rolling resistance tires, and CVT transmissions coupled to high compression small displacement 4 cylinder engines. Each one has a model out there that will get you 40+ MPG on the highway and each one of them comes in a sedan so you can sprawl out a bit for a nap if you absolutely have to, or go the hatchback route on a few of them so you can fold a seat down and sleep for the night. On top of that, you could always go German and pickup one of the MANY Audi/VW TDI (diesel) vehicles that will get 45-55 MPG without even trying. You'll spend a little bit more on them than their Japanese gas motor counterparts (and fords attempt to enter that fight) but you'll get a lot more creature comforts, resale value, and warranty for your buck.

As for fitness, I think the "issue" there mostly depends on what type of "fitness" we are talking about. If you're all about the treadmill, then why not just start your day off with a few laps around the Casino grounds? Problem solved and you'll get some nice fresh air to start the day off right. If you're more of a weights guy, probably best to get a national 24 hour fitness membership.

In regards to the regional traveling, I think a large part of that is going to boil down to the following.

1. Your play style
2. Number of stores nearby
3. Whether or not you are bored of the area
4. If there's weather you want to avoid

You don't need gym membership. I run 3 or 4 miles almost every day. I found Boardwalk and Strip are suitable places to run. A lot of joggers on the Strip in the early morning, and all day in Boardwalk. In places other than AC and LV, you can pay $5 to $20 to use the gym in most hotels.

Hell, in most places you can use the GYM in most places for free, at least just about everywhere I've ever traveled.

It's kind of impossible to just take a 3-4 month vacation in my line of work. That would be the same as changing my career.

How about a 1-2 week vacation? Honestly, I think that's all it would take to get a real "feel" for the lifestyle.

[NotEnoughHeat]

Hell, in most places you can use the GYM in most places for free, at least just about everywhere I've ever traveled.

We'd need BJGenius007 to respond back on this to be sure, but I was under the impression he was talking about using a gym at a hotel you weren't a patron of. In my experience as well (although I don't have that much experience with hotels), if you stay with them you can use their fitness facilities free of charge.

[Exoter175]

We'd need BJGenius007 to respond back on this to be sure, but I was under the impression he was talking about using a gym at a hotel you weren't a patron of. In my experience as well (although I don't have that much experience with hotels), if you stay with them you can use their fitness facilities free of charge.

That might be the case, but at that point I think it would be much more worthwhile to pickup a national membership, unless you're only hitting the gym once a week and at that point, just do some situps, crunches, and do some jogging.

[Casino Kid]

Let us know if you decide to do it, houyi. I've lived on the road/out of a car for several years so I have some useful tips I could share with you if it gets to that point.

[Dieter]

I think it would be much more worthwhile to pickup a national membership

It's only worthwhile if they have a location near where you will be.

And sure, it's worth it if you can shower there... but again, only if you can take a shower when and where you need one. (Actually, if the membership gets you what you need 2/3s of the time, you're probably OK, since we're talking about the price of a mediocre motel room a month.)

[Exoter175]

It's only worthwhile if they have a location near where you will be.

And sure, it's worth it if you can shower there... but again, only if you can take a shower when and where you need one. (Actually, if the membership gets you what you need 2/3s of the time, you're probably OK, since we're talking about the price of a mediocre motel room a month.)

There's a lot of areas that are subject to debate, but if you've got a fitness place that covers 1/2 the US, and about 75% of the casinos in the US you'll be visiting are covered in that area, and on top of that fitness is "important", I'm sure the 30-35/mo isn't going to be a big concern at all.

[Dieter]

There's a lot of areas that are subject to debate, but if you've got a fitness place that covers 1/2 the US, and about 75% of the casinos in the US you'll be visiting are covered in that area, and on top of that fitness is "important", I'm sure the 30-35/mo isn't going to be a big concern at all.

Not a problem, and I recognize that even if the hinterlands casinos are in the middle of nowhere off a side road (and your particular national chain gym isn't nearby), that your particular national chain gym might have a location someplace in between where you are and where you're going next, if you're willing to make a slight detour.

I'm sure you'll make the right decision for you. I'll shower at a truck stop, should I feel the need. They're almost always right along the highway.

[Exoter175]

Not a problem, and I recognize that even if the hinterlands casinos are in the middle of nowhere off a side road (and your particular national chain gym isn't nearby), that your particular national chain gym might have a location someplace in between where you are and where you're going next, if you're willing to make a slight detour.

I'm sure you'll make the right decision for you. I'll shower at a truck stop, should I feel the need. They're almost always right along the highway.

Personally, I'll just settle for a cheap motel/hotel room or comped room. Nothing beats a warm bed and a warm shower.

[Dieter]

Personally, I'll just settle for a cheap motel/hotel room or comped room. Nothing beats a warm bed and a warm shower.

The showers are often nice, but I find it easier to sleep in the car than in a hotel. I freely admit that this is likely a symptom of some bizarre mental illness.

Glad that your experience is otherwise.

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