Showing posts with label job. Show all posts
Showing posts with label job. Show all posts

Wednesday, June 04, 2008

Things I Won't Miss #2: Ed's Job!

As with the parking, I've said it before, but it needs to be said again: I will not miss Ed's job. I know Ed will in some ways of course - he's made some good connections, gotten excellent training, enjoyed the buzz of working in a hotshot Manhattan investment bank. And it has given us the career and financial boost we came here for. But even he is getting giddy about kissing the cubicle, and rat race, buh-bye. It's a little thrilling to check the work calendar and realize anything more than 3 weeks out is not his problem.

I would guess that his average workday over the last three years has been about 9 to midnight (plus commute), and about 5-8 hours on the weekend. That means severe sleep deprivation and total life imbalance on both our parts, me managing one and then two kids all day from breakfast to bedtime, and overnight now that we think of it. Place that in New York with its own special little hassles and it's been tough. Ed's job is the first reason we're leaving.

We expect his new job to be better. Even if he works the exact same hours I will at least be near friends and family for some support, and have somewhere to park my car when I come home. But we expect those late nights to become more the exception than the rule, plus a shorter commute.

In our early years of marriage we used to go on evening walks along the Boulder Creek path and talk about our future - where to live, what to do, children and parenting. Ed was studying business and we would talk about the various career choices he would have upon graduation. Consulting sounded brutal, traveling 4 or 5 days a week. Investment banking didn't sound much better, with unbelievably long work weeks. Plus I didn't want to live in New York, a likely location. So of course that's what we did. When Ed was interviewing for jobs our friend Bryan Waite told us of his buddy who had come to NY in investment banking. He said the first few years were tough, then he started really raking in the money, bought a big house in Jersey, put the kids in private school, and found himself miserable but stuck in the life he had created. It was a great cautionary tale that we have kept in mind over the years, and I'm relieved to be getting out.

Monday, November 26, 2007

Right Back Where I Started From

As some of you know, we have been looking for a new job for Ed. Our 3 years with Citi will be done in the summer and we've decided to exit New York and investment banking. We've been in the search - apply - interview process for a few months and are happy to announce Ed has accepted a position with Relativity Capital, a private equity firm in Arlington, Virginia.

Your next question is, "What will he be doing?" or "How is that different from what he's doing now?" Please be patient with me. I watch Noggin and fix PBJ's every day. Ed has explained investment banking, private equity, venture capital, corporate development, and hedge funds to me hundreds of times but they remain abstract, barely relevant to anything I do except as a source of income. But here's a simple explanation:

Investment banks advise companies on financial decisions and help companies raise money to follow through with those decisions, such as mergers, acquisitions and divestitures.

Private equity firms raise a fund through investors, use that fund to buy companies, and generate a return on the investment by various means.

That's the best I can do without dropping a lot of financial jargon. Click on the wiki links to learn more, or just email Ed. Basically it is a related field, still in the realm of business finance. Relativity is a new firm, with only a handful of employees split between the NY and Arlington offices. Ed and another new hire will bring the Arlington headcount to six! Because it is small and new, it will be quite different from Ed's office life now, but he is really excited to work in PE and so closely with the firm's founders, who have a wealth of knowledge and experience in the field.

As for me, my feelings are equally excited but more complex. I was born in Arlington Hospital. I spent my first 18 years in Fairfax, VA, and when I left I did not expect to ever return for more than a visit. I was sick of it and wanted to explore all the places where I hadn't grown up. I was also anxious to leave behind a small collection of adolescent demons associated with the place, and start over fresh, as an adult.

Now it's 15 years later and after living in Provo, Boston, Toronto, Boulder, Denver and Brooklyn, I'm returning. But rather than a homecoming, it feels surprisingly like another fresh start, with the bonus benefits of knowing my way around and being close to my family. We went to my parents' house for Thanksgiving weekend, and while driving around the area, I frequently checked the emotional barometer. I was delighted to feel a new relationship with the place, and a comfortable eagerness to bring my family there.

People complain that the DC metro area is crowded, expensive, and traffic is terrible. Luckily we're coming from New York City, from which reference point anything is an improvement. My heart flutters at the thought of all those parking lots.

Over the weekend we spent a little time examining maps and exploring neighborhoods to get a feel for our housing options. We hope to live as close to Ed's office as possible, which may mean living as close to the orange or blue metro lines as possible (the office is at the Rosslyn metro station.) We don't expect Ed's hours to be as long as they are now, but we've learned to make a short commute a high priority. That would put us in Arlington or Fairfax counties; beyond that, we don't know exactly where we'll be. I've learned more in the last 2 weeks about northern Virginia geography than in 18 years growing up. But keep in mind only 2 of those were driving years...

The timing is a little unfortunate in that we'll miss Dave & family, who are moving to England in the spring, by only a few months. But hopefully they won't stay over there forever, and we can get the next generation of cousins together for some formative years. And "Nana & Bobba" (my parents) aren't going anywhere - it will be great to be close to them. Of course we also look forward to reconnecting with friends that are still, or newly, in the metro DC area, and hosting visitors.

So that's the news - post any comments, advice, ridicule, threats, etc. below.

Wednesday, September 26, 2007

Investment Banking: from the Trenches

After two grueling years, and especially since returning from vacation, we're really hating the demands of Ed's job on a whole new level. Occasionally quit notices and other pieces of "humor" get forwarded and emailed around "the street" (=Wall Street). Here are some of the latest:


Here is one creative way an analyst quit, in the case study format he was no doubt sick of:
And here is the text of an email Ed forwarded to me, a first-year analyst who saw the light only a few months after starting (I deleted names just in case):

----- Original Message -----
From:
To:
Cc:
Sent: Sun Sep 16 07:02:32 2007
Subject: Sorry everyone

I'm leaving the bank now.

I'm not made to do this. If I put my mind to something as much as I do here to mindless text editing, copy and pasting, and getting yelled at for stuff other people can't/won't/don't do, I would be much better off. It's 6:43 a.m. on a Sunday, and I have at least 14 more hours of work to do today that will not be fulfilling, useful, appreciated, recognized, or paid for.

Sorry this is last minute, but it's just not worth doing more

My blackberry is on my desk

Apparently that failed staffing request was fatal (no, not as in I'm
going to kill myself, hehe, I'm just going to go enjoy life). There is
no happiness here.

I took all my personal stuff. No one needs to contact me for anything
(except for a drink for those of you with my personal number). I will
only be at my New York address a few days longer.

Good luck y'all,

(Signature)

P.S. I'll be waiting for some smart-ass associate to send a
"best-practice e-mail for how to quit properly".

Well isn't that encouraging? Just in case you needed more dissuading from going into IB.

Saturday, June 23, 2007

A Week in Our Life

Sometimes I wonder what I do everyday - I can't even remember from one day to the next. But I know I'm busy. And I know I'm tired. I know I'm constantly multi-tasking. And I know we don't see Ed much. Especially lately; the last few weeks have really been some of the most busy he's had in our two years here. So in case anyone else was wondering what life is like for us (and in case anyone else was considering a career in investment banking and needs dissuading), here's a week of it:

Saturday, June 16

I threw a baby shower for my friend Kirsten at our place. I started the preparations when I got up around 7, juggling the girls with Ed's help. At 10 the guests started arriving. Ed took Hazel to their last Gymboree class, and then to the park to play during the shower. Ginger stayed with me. The shower was super fun but of course had to end. Ed brought Hazel home around 12:30, had some lunch, and headed to work about 2pm. Worked until 2:30am. (Yes, you read that right. It was SATURDAY.)

Sunday, June 17
Whenever Ed has to work on a Sunday he usually comes to church with us (10-1), then heads in after church around 2pm, and works until whenever. But this being Father's Day we wanted some time with him as a family so we decided to send him in early, in the hopes of seeing him for dinner and some family time before the girls went to bed. That meant me taking the girls to church by myself for the first time. At 9:30am the girls and I left for church; Ed left just after. I spent sacrament meeting in and out with one or the other girl most of the time. Then my friend Nayat took Hazel to nursery and came back to take Ginger during Sunday School while I taught my primary class. After Sunday School she brought me Ginger to nurse, then I brought her back to Nayat in Relief Society and went to Primary. About halfway through she brought Ginger to me, crying, so I held her and tried to get her to sleep. After church someone brought Hazel to me, and both girls fell asleep on the way home. I parked about a block away, loaded Ginger's car seat and all our bags in the stroller, heisted Hazel up against my shoulder, and walked to our building pushing the stroller with one hand and holding Hazel with the other. Got a passer-by to open the first door to the building for me, then used my keys to get in the rest. Up the elevator, down the hall, in the apartment. Put both girls in bed, but both woke up and spent a fussy, grumpy afternoon waiting for Ed to come home. Ed came home at 5:30pm and we had a quick dinner, Father's Day presents and family walk before bed time. After the girls went down Ed worked from home on the computer until after 12am, which is when I went to bed.

Monday, June 18
We got up with the girls around 7 and Ed left around 8. I called some mom friends and we met at a park to let the kids play together in the sprinklers and playgrounds. Then we had them back to our place for more playing and lunch. They left and the girls took naps around 2-4. Wake time to dinner is the same most days - Hazel plays and watches some cartoons; I wash dishes, clean rooms, make dinner, do whatever I can that Ginger will allow, which usually isn't much; Ginger hangs out in swing, exersaucer, Bumbo, bouncey seat, bed, wherever she'll let me put her so I can do something... but only for short periods. Mostly she likes to be held, played with, talked to and of course fed during this time. I try to strike a balance. Dinner was...I can't even remember. After dinner I gave both girls baths, then put them down one at a time. Sometimes Ginger goes down before Hazel, sometimes after. Tonight it was before - swaddled her and rocked her a little, then put her in bed and read my book nearby for a few minutes until she was out. Hazel was watching Little Bear. Then Hazel's bedtime routine: brush teeth, jammies & diaper, stories, songs, prayer, kiss, bed. I spent the evening going up and down to the basement doing 5 loads of laundry and watching Mansfield Park from Netflix (only so-so) while I folded it. I went to bed around 12:30am, but only after emailing my friend Maureen from church. She's been offering for months for her and her husband Thomas to come babysit for us so we can have a date (they are newlyweds.) After the couple of tough weeks we've had, I decided to cash in on all such offers, starting with her. We set it up for a Saturday in July. Ed got home around 3:45am.

Tuesday, June 19
We got up around 7 and Ed left around 8:30. We got our act together (breakfast, diapers, clothes, diaper bag put together, shower, more diaper changes, etc.) and met Corey & Violet at the park for the morning. Hazel and Violet played in the sprinkler and playground and each had no less than two nasty, scrapey falls. Something about bare knees (or perhaps water shoes they're not used to walking and running in) just invites nasty falls. It was a beautiful day, though, the park being right by the bay, so there was a nice breeze, and Ginger was so happy watching the kids. Lunch was PBJ sandwiches, then naps for both girls and I even got a short one! They got up around 3:30 and for an hour and a half I worked towards getting us out the door for some errands in the neighborhood. I had to call Ed to find out which pants and shirts he wanted taken to the cleaners, then round them up. Feed and burp Ginger, change both diapers. Get Hazel a snack so she's occupied and not constantly underfoot. Repack diaper bag with fresh diapers, water, snacks. Round up library books and shopping list. Check and change diapers again, plus change Ginger's outfit and rinse the old one because we broke containment. Around 5pm we FINALLY got out the door with the double stroller loaded with two girls, diaper bag, 3 pants & 6 shirts for the cleaners, and 7 library books to return. We walked to the cleaners, then the library, also checking out 3 new ones I had on the reserve shelf (our branch SUCKS but I can request books from the main one to be sent there.) Then to the grocery store, careful to only get what I can pack in the stroller (about $30 worth - yogurt, bread, oj, chicken, lettuce, pineapple, etc.) I noticed Ginger had fallen asleep at this point. Finally Rite Aid to get more band aids, wipes, vitamins. After all the errands were done I let Hazel out of the stroller to walk home, and within a block she took yet another nasty fall, creating two new bloody scrapes on palms and knees. So we sat on a stoop and I cleaned her up with wipes and new band aids, making a mental note to start keeping band aids in the diaper bag regularly. Made sure to walk, not run, the rest of the way home. Dinner was rotisserie chicken from the store, couscous, fruit smoothies. Dinner was later than usual tonight so we just moved right into bedtime from there. Girls were both down by 8:30. I spent the next 2 hours balancing all the bank accounts and paying bills, then watched Good Eats with a bowl of ice cream, and went to bed at 11:45pm. Ed came home around 2am.

Wednesday, June 20
We all got up around 7:30. Ed left around 8:30. I got the girls breakfast, diapers, dressed, etc. Took a quick shower. We were going to walk to the library, about 30 minutes walk, for story time at 10:30, but it was raining and I haven't gotten around to getting a rain cover for the double stroller. So we drove and were amazingly lucky enough to park on the same block. Saw some of our friends there - Violet, Kaleigh, Pierson. Chloe the librarian is only slightly less of a wet blanket than all the other librarians at the other branches, which is why we go to her story time - it's all relative in the Brooklyn Public Library system. During the first book - about a farm, which Hazel should have loved - Hazel became fixated on a rug circle Violet was sitting on, and threw a fit because there wasn't one for her. So I took her out and we missed that book. She survived the rest of the story time, but just barely - still emotional. Did better when we stood up and did action songs. We stayed and played in the children's room after story time, then drove home and had lunch - PBJ and grapes for Hazel, salad & pineapple for me. Ginger slept a mere 15 minutes all morning, so went down for a good nap in the afternoon, same as Hazel. I read my (library) book. The afternoon went about the same as Monday. More bearable, though, because it wasn't so hot and humid today. I've been working my way through the dishes all week, never quite getting ahead though. After dinner I put Ginger on the bed and tried to clean in the bedroom for a little while. Lots of clutter hot spots in there that never really get taken care of. Also called my mother-in-law to hear about her recent Europe trip and let her talk to Hazel. Ginger napped from 7-8, then hung out with us for Hazel's bedtime routine, which also included - special tonight! - standing her in the bathtub for a quick bangs trim. We also read her new library books. I spent the evening at first watching tv, then catching up on email and blogs. Caught dishy Matt Damon on Letterman. Ed emailed at 12:30am to see if I was still up, which, lamo, I was, so I called him. Caught up on each other's days since he still had several hours of work to do. I went to bed at 1 am. Ed rolled in at a cool 4am.

Thursday, June 21
I got up with the girls at 7:30. Ed slept an hour longer and got up at 8:30. We had blueberry pancakes for breakfast. Every year in June Ed's group at work has a retreat/roast/send-off for the exiting analysts, like a year-end party. For some reason it's in Miami and you have to fly there on your own dime. Whatever. So Ed had an 11:30 flight to Miami, which meant he had to leave by 10 at the latest. I also had to leave by 10 for a playgroup - every week a group of moms from church meet at a different park for a morning playgroup. Since I organize it, pick the park, and send out the email, it's a good idea for me to be there. So the morning was hectic, trying to get us all ready and out the door. Playgroup was fun - it was a sunny day with unseasonably low humidity, and some of Hazel's favorite friends were there - Bruce and Pierson. All the parks here have nice water features, so we usually split our time between water and playground, which means packing an extra bag with swimsuit, water shoes, buckets, towel, etc. in addition to the usual snacks, water, sunscreen, hats, changing pad, wipes, etc. Hazel fell asleep on the way home and stayed asleep when I transferred her to the crib, so it was an early nap for her, about 12:30-2:30. Ginger overlapped slightly with that, so I got a quiet lunch reading a magazine. The afternoon is a blur because lack of sleep was catching up with me. We played some games, read some books, I attempted some dishes, and gave Hazel a long bubble bath, with Ginger watching from the Bumbo and I flipped through magazines on the bathroom floor. Dinner was grilled cheese sandwiches and mandarin oranges. I thought about ordering out but nothing sounded good so I figured might as well just make something. Save the take-out opportunities for something yummy. After dinner I gave Ginger a bath and put on a show for Hazel. Then fed Ginger, did Hazel's bedtime routine and put her down, put Ginger down. Watched an hour of TV and decided to get to bed early, about 10:30pm. The window air conditioner in our room was flashing an error signal E1, which means it needs to be reset, which I thought I knew how to do, but 10 minutes later it shut off and flashed E1 again. So I spent an hour and a half troubleshooting the a/c unit, having to wait 10 minutes after each thing I did to see if it would stay on or shut off. Finally figured it out. Lights out at 12:15am.

Friday, June 22
I got up with Ginger at 6, fed her and put her back down by 7. Hazel woke up at 7:30 so I got up with her, got her breakfast, etc. Ginger woke up at 8:30 and we all started our day. I had some errands to do at "the mall", things I've been putting off because I'm afraid of such a monumental outing with both girls. We have one mall about 20 minutes away, with a pay-parking lot (at least there are always spaces!), so it's kind of a production. The girls did ok at the first 2 stores, then Ginger got fed up so I held/carried her while pushing the double stroller with Hazel in it, who was also losing it but being a trooper. I bought her a cookie on the way out - oatmeal raisin so melted chocolate wouldn't get all over. We got home and I started to make Hazel lunch when Ed walked in the door and my jaw dropped. He had planned to fly back from Miami and go straight to the office, but changed his mind and came home. He'd had a nice time with his group, but a lot of airport hassles, including dropping and busting his BlackBerry in security, and delays which kept him from getting much-needed sleep. So he had lunch with us and went down for a nap same time as the girls. We spent an unprecedented Friday evening together as a family. Loaded into the stroller, got deli sandwiches for dinner and ate them at a park. Then we walked to another park where we know the ice cream truck regularly stops, and played until it came. Hazel knows the look and music of the "ha-mee tutt" but we've never bought from him, so she was more than thrilled to get her own chocolate cone, and Ed was just as thrilled to buy it for her. We came home and put the girls to bed by 9, then Ed had to log in remotely to work. I went to bed at 10 and Ed worked until 12:30am, sadly his earliest night all week.

It was interesting to do the math:
Ed worked or travelled for about 100 hours (60% of a week)
Ed slept for about 43 hours (25 % of a week; average 5.7 hrs/night)
Ed was awake at home for about 25 hours (15% of a week; average 3.6 hrs/day)

I think a percentage ratio for most normal working people would be more like work and travel 30% (50 hrs)/ sleep 30% (50 hrs)/ home or recreation 40% (68 hrs)

There.

Whew.
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