ilmscore | I Quit My $300,000 Banking Job After Learning 3 Things

I Quit My $300,000 Banking Job After Learning 3 Things

Published: 2023-11-12
Status: Available | Analyzed

Predictions from this Video

Total: 4
Correct: 0
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
The speaker used their investment banking salary to build an emergency fund, invest in stocks and property, and fund side hustle experiments.
"I stayed in banking for longer than I wanted to because my salary was paying for me to build up an emergency fund. It was paying for all of my investments, my stocks and shares, property. It was paying for all the experiments I was doing behind the scenes on my side hustles."
Personal Finance
Pending
The speaker's current income is significantly higher than their previous income from investment banking.
"And I will be in a position where I am now, which is what I make is astronomically higher than what I used to make in banking."
Income
Pending
The speaker took an 84% pay cut upon resigning from investment banking, but had a 9-month emergency fund to mitigate the risk.
"It was an 84% pay cut, but I was also in a very fortunate position that I had enough of an emergency fund to last me 9 months in case something didn't work out."
Career Change
Pending
The speaker felt comfortable taking the risk to leave their job when their side hustles covered their fixed costs with an additional £200-£300 profit per month.
"And it was only when my side hustles had matched my fixed costs plus an additional 200 or 300 pounds more a month was I comfortable in taking that risk."
Career Change
Pending