I know my time is almost up. I’ve spent my entire career in banking, rotating through all the major banks, thinking that hard work would eventually lead somewhere. It never did. Not once. In this industry, progress isn't about performance or dedication. It’s about playing politics, flattering the right people, and knowing when to smile at the right moment. I never played that game, and now I’m paying the price. As I approach that invisible milestone I can see the writing on the wall. I’ve watched colleagues shown the door the moment they crossed it. People with decades of experience, suddenly discarded, no longer “marketable”. There’s no sense of fulfillment looking back. Just the bitter realization that I’ve given my life to a career that gave nothing meaningful in return. I feel like a used rug - worn out, undervalued, and replaceable.
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I have tons of 50- and 60-something coworkers. Keep yourself looking and acting youthful/spry, and pour as much into savings/investments as you can.
@em saw the big layoffs coming with jobs going to India in 2023??? Jobs been going overseas for the past 20+ years!...and you just saw this happening now?? Way to be behind the 8 ball dude.
In my mid 50s, approaching 30 years in banking. Went into the Air Force after college, which was my only non-banking gig. Yes, you can make a great salary doing this but it does end up su-king the life out of you. My son graduated from college a few years ago and went into business for himself. Last year he nearly made as much money as I did and had fun doing it. Oh well.
this is every industry in corporate america. this is life working for "the man". Navigating this cr_p is part of it.
Alternative industries are not any better. Tech had its moment but it was a bubble.
I've stayed in banking my entire career despite this because it pays better over the long run than any other industry you can name.
ALternative to corporate life is starting your own business. that has all of its own issues.
You're 50 and have changed companies numerous times and never made something of yourself? Sounds like you did it wrong then
Ever since the credit default swaps fiasco of 2008/09, banks joined the parade of industries to layoff. WF set out to accelerate that around 2016.
News alert- this is every job in America. Very few ever make it to the top no matter what they do. More reason to work to live not live to work. Never make your job your identity.
That's why I moved up fast and got rich off of 'em. I'll be done by 40, and never work another day in my life. I don't regret it. I have to pay the bills no matter what and hopefully getting 30+ good years of freedom, maybe more, is worth the trade-off. Not sure something more fulfilling would be that much better and I'm sure I'd be signing up for many more years of slave labor.
“Nearing 50” and time “almost up”???
Find your life… come back when you do
This is true, but it is increasingly feeling like this is the case across corporate America in genera now regardless of industry… and yes that makes it all feel even more hopeless
Saw the big layoffs coming and the jobs going to India back in 2023... decided to resign, went to coding bootcamp to switch industries... AI comes in before I can graduate and get a job and even senior developers cant find work.. side tracked to an entry level IT job (which was doomed to begin with due to a specific person in their office getting everyone fired go figure) and now I am again looking for a job. because of the market i have applied to jobs across 3 industry types and its been a long 1 1/2 years. 41, unemployed and washed up because I gave 16 years to WF. thought I was something by starting out as a collector and working my way up to the Executive Office. If I could go back and pick a different path I would. No one wants the experience I have from working with WF. Anyways just thought I would empathize with ya the best i could... I hope the best for you all.
Bro I'm in the same situation - age and job. I've always been the go-to guy in all areas I've worked at - it just means you work harder - like some stupid lap dog. Inflation rate raises or less. Meanwhile, the people who avoided work their entire career made out the best.
F WF
Advice to those younger- when you see that the industry is in purge mode, change your industry. Working in banking post-2009 was a huge mistake for any career advancement or inflation raises. Once you cross 50, there is a red laser pointing at your back. Buy Ramon noodles early career and save everything you can! That goes for all jobs.
@df Correction. WF should be called backstabbers Inc.
Banking su-ks. No-one tells you about the politics and drama of org changes and scrambling for a position every few years. It got even worse under Charlie with the turning of the sc--ws leading to back stabbing even from manager to Direct Report. Banking used to be considered a stable career a long time ago. Add to that the people that came to work in the industry that don't care for banking but only want the $$. They will step on their grandmother to pick up a few bucks. I never realized the larger % of poor quality of people WF hired like this until it was too late. WE should be called Backstabbers Inc.
I feel ya OP. At some point many of us have to come to terms with the idea that working for a bank probably never will be fulfilling in any meaningful way. It's a pay check. Act accordingly.
I haven't been downsized yet, but it'll come eventually. Already lost to many friends to the monster in NYC. I honestly have a hard time getting over it. I feel so bad for people that have worked their tail off for this company and were truly great employees only to have that little POS in his ivory Tower downsize them based on a bunch of lies. It's difficult to reconcile. When the pink slip comes I'll be ok. I'm financially prepared. I could retire, but I'm sticking around until Shart pays me my year's worth of severance. It's a small thing, but he doesn't get what he wants this time.
OP, I had this exact same thought at around the same time today. My sentiments exactly. Don't forget the managers they hired that were friends of friends or ticked a box that resent you for all of your experience and are nasty people, visibly rude, putting down their own DRs because that's what they think a "manager" does. If it wasn't for those people, you'd have been a manager. Find a side hustle you can turn into a business.
My first career was with the federal government where I worked for 25 years before retiring. Never got rich but made a good living and enjoying the pension. Worked at Wells right after retiring and lasted 10 years before I was displaced this year. Made a boatload of money and enjoyed it for probably 6 or 7 of those years before it just got awful. Landed a job at a small regional bank and am fully remote. Took a huge pay cut but much better culture and company.
I’ll be ok as long as I can keep working till I’m 704 years old. 😳
I'm 52 and same. But thankfully I did invest enough money to be ok if something happens to this job.
@OP hopefully you have done some savings