Why I Left Investment Banking
Episode 26 | September 1, 2025
For many students, investment banking represents the ultimate first step in a finance career. It’s a path that promises rigorous training, prestige, and the possibility of springboarding into private equity or other buy-side roles. But what happens when you decide to step off the well-trodden path?
In Episode 26 of the Coffee Chat podcast, host Ben sat down with Wayllon Lu, a University of Illinois graduate who began his career at Moelis in New York before pivoting into corporate finance and operations. Wayllon shared how he discovered finance in high school, built the skills needed to break into investment banking, and ultimately decided to exit the industry for a unique opportunity with one of his clients.
Discovering Finance Early
While many students stumble upon finance in college, Wayllon’s interest sparked earlier. A summer program on corporate valuation at Columbia ignited his curiosity:
“It was the first time I had no problem doing homework. I actually wanted to spend extra time on it,” Wayllon recalled.
That passion set him on a trajectory toward investment banking, supported by involvement in clubs, a business fraternity, and targeted networking.
Breaking into Banking from a Non-Target School
Coming from the University of Illinois—a non-target school for many banks—Wayllon knew he needed to outwork the competition. He emphasized the importance of networking:
“You’re going to send out a hundred emails and maybe get ten responses. But anything you can do to increase your odds, like showing up in person, makes a huge difference.”
One pivotal moment came when he flew to New York during spring break to meet bankers face-to-face. That trip connected him to Moelis’s non-target recruiting lead and ultimately led to his internship and full-time offer.
The Power of Preparation
Wayllon credited technical preparation, and particularly the Adventis Financial Modeling Certification® (FMC® Program), as a differentiator:
“Adventis was huge at Illinois. It gave me practical experience I could showcase on my resume and talk about in interviews. It wasn’t just memorization—it was applying the concepts, building models, and showing I could do the work.”
He noted that technical mastery gets you in the door, but it’s not enough to win offers. “What separates candidates are the behavioral aspects: having a positive attitude, being coachable, and showing people you’re someone they want to work with at 2 a.m.”
Exiting Investment Banking
After a year and a half at Moelis, Wayllon made the unconventional choice to leave investment banking for a corporate role at Pritchard, a facilities services company he had advised as a banker. The CFO invited him to join the team.
“It was never on my roadmap to join a janitorial services company. But after talking with mentors and considering the opportunity to actually execute on the growth plan we had pitched, it felt right.”
He spent two years in corporate finance before moving into operational excellence, redesigning a division’s delivery model. While his peers continued on the traditional banking-to-private equity track, Wayllon saw value in diversifying his skill set.
“Jumping off the banking-to-PE train is tough. But for me, getting company experience early on created opportunities I wouldn’t have had otherwise.”
Advice for Students
Reflecting on his journey, Wayllon shared advice for aspiring bankers:
Validate your interest early. Join clubs, participate in case competitions, and take prep programs like Adventis to confirm you enjoy the work.
Network relentlessly. Don’t fear rejection—most bankers remember being in your shoes.
Balance technical and behavioral skills. Technicals get interviews, but attitude and energy win offers.
His story is a reminder that while investment banking can be a phenomenal training ground, it’s not the only route to a successful and fulfilling career in finance.
