Indian Man Left His Jpmorgan Job To Join A Startup With 70% Pay Cut That 'Fulfilled Him'
Semlani shared that the idea of leaving his job first came to him when he attended a 10-day meditation retreat arranged through the bank.
“I was two years into my time at JPMorgan when I realised how disillusioned I'd become with my life. It felt robotic,” Semlani told Business Insider.
He had pursued Commerce and Economics at Mumbai's Sydenham College of Commerce & Economics before moving to the US on a temporary work visa.
“I started working at JPMorgan in 2015 as an intern on a US visa. Later, I moved back to India and became an associate within the asset management department. I was focused on climbing the corporate ladder,” he said.
Also Read | Who is Paul Finebaum? ESPN host mulls quitting job to run for SenateBy the age of 26, he realised that his 9-to-5 job was no longer satisfying. While friends were aiming to reach vice-president level by 30, Semlani found himself growing increasingly disillusioned.
“At 26, every day felt the same. I'd be in the office by 9 am, go to the same meetings, do the same actions, and leave at 7 pm During that time, I lost friends and relationships,” he said.
Why did Semlani decide to quit his corporate job?Semlani says he signed up for a meditation retreat“on a whim”, hoping for a short break from work and screens. The 10-day silent retreat, he said, gave him unexpected clarity.
“On a whim, I signed up for a 10-day silent meditation retreat with the intention of taking a digital detox, and came back with the clarity that it was time to quit,” he said.
What made leaving JPMorgan difficult?Although he felt it was time for change, Semlani admits that walking away from a stable job was frightening.
“I didn't see a future for myself at JPMorgan. I had just grown accustomed to the status, validation, and money it provided,” he acknowledged.
Beyond the high salary, the JPMorgan name carried weight.
Also Read | Indian man's desperate attempt to return from Saudi Arabia goes viral“If I went to an event and said I worked at JPMorgan, it meant something. People seemed more curious about me when they learned where I worked. I liked the validation and didn't want to give it up,” he told Business Insider. He added that the thought of giving up a good salary also held him back.
What gave him the courage to resign?The meditation retreat helped him slow down and recognise that he needed a break. He eventually asked himself what the worst outcome of quitting could be - and realised that, whatever happened, he would still be able to rebuild his life. That realisation brought him calm.
When he returned, he felt certain it was time to step away, even though he did not yet know what his next chapter would be. He informed his manager and left JPMorgan in February 2018.
Why did he take a major pay cut?Semlani joined a startup in a customer service role that helped Indian students study abroad, despite the job coming with a huge salary drop.
“I took a 70% pay cut to work for a startup that fulfilled me,” he said.
Living with his parents eased some pressure, but he still had expenses and had to scale down his lifestyle. At times, he wondered if he should return to JPMorgan, but the fulfilment he found in his new role kept him going.
Also Read | 35-year-old man quits job, starts living in cave: 'Marriage is waste of time' How did job loss lead him towards entrepreneurship?In late 2019, Semlani was laid off. Soon after, the Covid lockdown unexpectedly gave him the time and space to think about building something of his own.
“I decided to go all in on my startup idea as a cofounder,” he said.“The early days of fundraising and building were hard. There was a point in time about six months in where I went to bed crying every day, thinking, 'When will this end?' But I'd wake up the next morning and remember that this is what I signed up for. This is what I wanted to do.”
Where is his startup now?That journey began five years ago. His company, Tartan, has since raised $6 million in funding.
“I left my corporate job and moved cities to join a small-time startup to understand the nitty gritty of running a business. With the Covid lockdown, I was able to focus in on the idea and build a business plan around it, finally launching Tartan,” Semlani said in an interview with the Mountbatten Program.
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