From Wall Street to Startup: Andrew Meng's 70-Hour Workweek Reinvented
Andrew Meng swapped a grueling investment banking job for the entrepreneurial hustle of founding Yorby AI. But are the trade-offs worth it?
Why would anyone leave a high-paying investment banking job for the uncertainty of entrepreneurship? Andrew Meng, a 29-year-old former investment banker, knows the answer better than most.
Investment Banking: The Raw Numbers
When Andrew landed a job at Wells Fargo in 2019, fresh out of college, he joined the ranks of Wall Street elites. But with that came 60 to 100-hour workweeks, often dictated by live deals such as IPOs and mergers. Peak moments saw him glued to his corporate phone, expecting emails that could make or break his weekend plans. It wasn’t uncommon for him to abandon personal commitments at a moment's notice.
He enjoyed legitimate PTO, but only if it didn’t coincide with a live deal. The firm respected time off, but the internal pressure to stay connected lingered. During the pandemic, the lines between work and life blurred further, leaving Andrew feeling detached even after closing significant deals.
Breaking Free: Context Matters
By January 2021, Andrew was ready to walk away. Not to a rival firm or a cushy hedge fund role, but to something entirely different, content creation. The transition wasn’t sudden. it took him six months of contemplation, weighing the fear of leaving against the realization that finance wasn’t his passion.
Is this a common tale among young bankers? While the financial rewards are substantial, the personal toll often isn't worth it. Andrew stayed with his parents, saving money and supporting himself with past earnings until late 2022, when reality hit: $2,000 left in his bank account.
Founding Yorby AI: Insider Perspectives
Andrew co-founded Yorby AI in August 2022, an AI startup aimed at automating social media marketing. They've raised $125,000 from notable investors and joined a startup accelerator program. With around 35,000 users, Yorby AI is more than just an idea. it's a working business.
His schedule now? It's flexible, yes, but taxing. Andrew works between 9 am and 11 pm, racking up approximately 70 to 80 hours a week, depending on who you ask. His wife might argue closer to 80. Saturdays are a sacred day off, a relic of banking culture he insists on keeping to avoid burnout.
But here's the twist: he still grapples with anxiety, albeit a different kind. He's no longer worried about an unexpected email on a Saturday morning. Now, it's the stress of growing a company and paying the bills that keeps him up at night. Are these new stresses more rewarding?
What’s Next for Entrepreneurs Like Meng?
In the entrepreneurial world, PTO is more of a myth than a reality. Even on his honeymoon in Switzerland, Andrew found himself glued to his phone, responding to client needs with no clear boundaries.
For Andrew and many others, the investment in time and stress is a gamble on future autonomy and fulfillment. But is the freedom of entrepreneurship just an illusion if you're always on the clock?
Will Andrew's journey inspire more to take the plunge from the perceived stability of banking to the volatile world of startups? Only those who prioritize passion over predictability might follow his path. But as Andrew's story illustrates, whether it's the rigid schedule of banking or the relentless hustle of a startup, the key might be finding what balances personal satisfaction with professional ambition.