Has anybody quit for mental health reasons and been able to rejoin PE or high finance more broadly?
Hello all,
I’m an PE associate that’s currently on VP track (for now) at a good fund with good culture that comps well.
Recently, my mental health has taken a nose dive for two reasons: (i) my dad died semi-recently and (ii) my fiancée broke up with me.
For additional context, I was diagnosed with major depressive disorder in my early teens. I’ve mostly been able to manage it without medications and have developed effective coping mechanisms, but the one two punch of the above have brought me to a new low that I’m currently unsure I can recuperate from.
I’ve been going to therapy since my fiancée broke up with me, but this is still fresh so TBD.
As is, I’m candidly spiraling and don’t think I can keep things together at work, or life in general really. I feel like I’m on the verge of a full breakdown.
I believe I have three options:
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Try to augment things with therapy and continue to stay at my job, but risk reputation damage
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See if I’m eligible for disability based on my recent mental health issues. I think this will probably prevent me from returning full time to my current role, but will give me some residual income to help cover expenses and perhaps most importantly insurance to continue to cover therapy, and perhaps any medications I may need
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Just outright quit and take some time. While I’m a fan of the immediacy of this solution, I’m afraid of the lack of income / healthcare. I could potentially take a gap year or two and study for the GRE / apply to MBA programs for a reset.
As of now I’m leaning toward 2 or 3, but I’m not 100% sure how it would work with references, etc.
Does anybody have any experience first hand or anecdotally of someone making a graceful exit for mental health and not having it be career suicide?
Thanks
Sorry to hear this. I went through an acute bout of depression and anxiety a decade ago. First things first is to get into therapy and try to slow things down. I can assure you at your age that no major doors will close. Feel free to dm me
consult with a lawyer on fmla and possibly taking an indefinite leave of absence or other options, then decide/or chat with your firm.
Based on the discussions and experiences shared on Wall Street Oasis, it's not uncommon for individuals in high finance, including private equity, to take breaks for mental health reasons and successfully re-enter the industry. Here are some insights and considerations based on similar situations:
Taking a Break for Mental Health: Many professionals have taken short-term disability or extended leaves to address their mental health issues. This is often seen as a necessary step to ensure long-term productivity and well-being. The key is to maintain open communication with your employer and to formalize the process through HR to ensure you are protected and have the option to return.
Rejoining the Industry: Re-entering the industry after a mental health break is feasible, especially if you have maintained good relationships within your network and have a solid track record. It's important to be prepared to explain the gap in your resume in a way that emphasizes your proactive approach to personal development and readiness to contribute effectively.
Disability and Insurance: If you opt for disability leave, check your company's policy and state laws regarding mental health coverage. This can provide you with some income and maintain your health insurance during your break, which is crucial for continuing therapy and any necessary treatments.
Alternative Options: If you decide to quit outright, planning for health insurance and financial stability is crucial. Some individuals choose to pursue further education, like an MBA, which can serve as a reset and provide a structured environment to recover while also enhancing their career prospects.
Cultural Considerations: The culture around mental health in high finance is evolving. More firms are recognizing the importance of mental well-being and are supportive of employees taking the necessary steps to recover. It's beneficial to have an honest conversation with your HR department or supervisor about your situation and explore the options they can offer.
Long-term Career Impact: While taking a break for mental health reasons might feel like a risk, many have found that it ultimately leads to better performance and job satisfaction in the long run. Employers in the finance sector are increasingly valuing the health and well-being of their employees, recognizing that it contributes to better decision-making and productivity.
In conclusion, while the decision to take a break from your career in PE due to mental health concerns is significant, there are pathways to do so that protect your professional future and personal well-being. It's advisable to leverage available resources, seek professional advice, and carefully plan your approach to ensure the best possible outcome.
Sources: PE Associate Jumps to Death / Discussion on Mental Health, PE Associate Jumps to Death / Discussion on Mental Health, Fired for the second time in less than a year. Feeling lost., Getting back into PE after a risky startup HF, Anyone want to share success stories for comeback from severe burnout early in career?
Take fmla and disability until you are feeling better
or stay in the game
Do not quit
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