Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Management graduates earlier used to dream about joining <a href="http://www.businessinsider.in/searchresult.cms?query=investment+banking+">investment banking</a> after completing their course, but the situation has changed now. The high burnout rates and long working hours are pushing them to leave high-paying, prestigious jobs at marquee financial institutions to join <keyword id="6362513" type="ORGANIZATION" weightage="100" keywordseo="Startups">startups</keyword> or set up their own ventures. 
 
Such developments will mark a major shift in their career track and leave investment banks scrambling for top talent. 
 
In the past few months, at least six investment bankers from top firms including <a href="http://www.businessinsider.in/searchresult.cms?query=Bank+of+America+Merrill+Lynch">Bank of America Merrill Lynch</a>, <keyword id="39409" type="COMPANY" weightage="80" keywordseo="Kotak">Kotak</keyword> and <keyword id="82699" type="COMPANY" weightage="40" keywordseo="Macquarie">Macquarie</keyword> have joined startups to be their own bosses. 
 On being asked about the reasons behind such a drastic change, Sumit Agarwal, 30, who quit the post of vice-president at Bank of America <keyword id="6374847" type="CITY" weightage="80" keywordseo="Merrill-Lynch">Merrill Lynch</keyword> in April, said: "There is no work-life balance in <keyword id="48051" type="ORGANIZATION" weightage="100" keywordseo="investment-banking">investment banking</keyword>." 
 
Agarwal, who is now the CEO of his own firm, said: "I used to work 14-15 hours a day, cancelling all family plans. I have seen my seniors do that." Agarwal, who started his career with the US Bank in 2008 after graduating from the Indian Institute of Management, Bangalore, said he loved his job, exhausting as it was. But "I couldn't do this for the next 15 years. I have the energy to run around for 7-8 years and not more." 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=Bank+of+America+Merrill+Lynch">startup</a> wave has been attracting talent from sectors such as consumer goods and telecom and even traditional banking. Deal makers joining this exodus is a reflection of global trends, with investment banking acting as a springboard for their new careers. Human resource specialists said the shift will continue. 
 
"The year 2009 saw several bankers being laid off, a forced move that saw many taking up alternate careers like joining corporates. This time around, in 2015, even when banks are selectively hiring, bankers have made a conscious decision to resign and take up a challenging role of setting up firms," said Ajit Premkumar, director, EAL Search, a top recruitment services firm. "We have seen vibrant support to young smart entrepreneurs who have an idea and can deliver. This clearly has attracted a pool of highquality individuals from banking." 
 
To be sure, startups don't necessarily offer the most relaxed work environment. On the other hand, they do allow people to set their own rules. Gaurav Gupta, 39, echoed the sentiment expressed by Agarwal. "Investment banking is not as cushy as it looks from outside," he said. "There's a lot of hard work involved." 
 
After 10 years of service, Gupta quit Kotak Investment Banking in March 2014 to start Myloancare.in with his batchmate from engineering college. "It's hard to say bye to a well-paying job. There's a fear factor," said Gupta. 
 
"We bankers advise companies and <a href="http://www.businessinsider.in/searchresult.cms?query=Bank+of+America+Merrill+Lynch">entrepreneurs</a> how to go about with their ventures. There came a point in my life when I asked myself how would I go about if I were to start my own venture. If others can take the entrepreneurial plunge, I too can," said Gupta. 
 Gupta's <keyword id="6354730" type="UNKNOWN" weightage="40" keywordseo="Home-loan">home loan</keyword> rate comparison site was born out of a bad experience with getting his own mortgage. 
 
His former colleague Sumit Dhingra has also taken the entrepreneurial path. Dhingra, 32, who interned with Kotak during his MBA and subsequently joined the investment bank, left some months ago to cofound ServiceBob-.com, a Gurgaon-based facilities management business. 
 
He said dealing with entrepreneurs from the <a href="http://www.businessinsider.in/searchresult.cms?query=Bank+of+America+Merrill+Lynch">technology</a> and internet sectors had a rub-off effect, motivating him to become an entrepreneur. Likewise with Anand Dalmia, who was covering tech for Macquarie. "Investment banking is one of the best professions. Anything better than I-banking is being an entrepreneur and I want to try it," said Dalmia, who will be launching his own technology-based <keyword id="6354241" type="COMPANY" weightage="40" keywordseo="Financial-Services">financial services</keyword> firm next month. 
 
(Image: Indiatimes)

No burnouts please! Professionals now prefer start-ups over investment banks to avoid long working hours

You Searched For "gaurav dalmia" and got 1 results

No burnouts please! Professionals now prefer start-ups over investment banks to avoid long working hours

BI India Bureau

Popular Keywords

Buying Guides