How many people quit IB?

Why So Many Quit Investment Banking After the MBA

Investment banking has long been seen as a high-reward career path, especially for those returning with an MBA. But behind the prestige and paychecks, there’s a reality many don’t talk about: a staggering number of post-MBA associates don’t stay the course. Based on industry anecdotes and forum discussions, the attrition rate for these roles sits somewhere between 70% and 80%. Most leave well before the three-year mark—often before even making it to vice president.

Why is that? For many, the decision isn’t about money or opportunity. It’s about lifestyle. The grueling hours, relentless pressure, and constant travel can wear down even the most ambitious professionals. After years of business school and high expectations, some realize the day-to-day doesn’t align with their personal or professional goals. The “up-or-out” model only amplifies the stress—perform or leave. And for many, “leave” becomes the healthier choice.

What’s interesting is that these exits aren’t always framed as failures. In fact, moving on from banking after a few years can open doors to private equity, venture capital, corporate strategy, or even startups. The skills picked up in those intense early years—modeling, client management, deal execution—are highly transferable. Many who quit don’t exit finance altogether; they pivot.

Still, the high burnout rate raises questions about sustainability in the industry. Firms are beginning to hear the feedback, with some pushing back on extreme workloads and offering more flexible paths. But for now, the reality remains: a large portion of post-MBA talent walks away, not because they couldn’t succeed, but because they chose a different kind of success.