What is the best banking exit if you want to have a good life and decent pay?
Is PE worth it? The pay is similar but it sounds like the hours are the same/worse if you go to MF/UMM.
Also if anyone has any other career suggestions for post-banking that offer a better lifestyle/ somewhat decent pay, please discuss.
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Family office
Lmao you care about brand name and want to be paid a shit ton but you don't want to put in the hours
Preach
Anyone know of anywhere they pay IB salary/ bonus to sit on the beach and play video games all day? Must also have prestigious name.
Best exits:
1) Start-ups
2) Family office
3) Growth/ VC
4) Corp Dev
Cool exits in my view come from the following: flexibility of hours, learning, importance of work
Maximizing salary at 24-28 I think is beyond stupid. The first two are incredibly hit or miss, but if you hit you can end up in a situation where you are right hand man to key decision makers and your learning once again goes vertical like in banking with way less process running and politics. Small teams at startups and family offices don’t have time for politics because there is so much shit to get done. The larger the org the more administrative bloat and meaningless work you should expect. That said, both a family office and a startup you are basically living in one persons world who is god. The ceo and/or the family you are reporting to makes the whole thing.
Helpful to also join a startup with an experienced CEO and not some young hot-shot with a great vision but not much operational experience. Great example would be BLADE Air Mobility. Their CFO is an ex IB/PE and CEO is an ex IB MD with a ton of corporate operational experience at Sony. Saw their earnings document and the CFO made $3M+ last year and is in his early 30s (I think he joined the company when it was in Series B capital raising).
Ton of risk joining a startup but if it works out, it can be quite lucrative.
Corp dev pay is not that bad, especially if you are at a tech company.
What is pay at a tech company like for a first year associate? Have seen 120 - 160k mentioned around here, is that accurate?
Yes
…
I’ve also heard private credit is so huge over various networking calls.
Private Credit can mean so many different assets across so many different jurisdictions. Especially if there’s a need for high yielding paper.
Looking at so many random things at the moment its hard to keep up sometimes and really understand 1 specific market
Institutional investor or family office
Buy side role is pretty good. You don’t need to be in the underwriting seat or portfolio manager to make solid money with reasonable hours. That’s going to depend on the shop, though
Look into endowments especially but also family offices, foundations and the like.
You’d be very competitive with your background but spaces open up relatively infrequently so it might take some time to find the right role.
Everyone wants these senior level perks 2-3 years out from undergrad. If any of us knew the formula to achieve all of what you want: outsized pay (which compared to 99% of other professions is already ridiculously high), brand name, and fuck-you-money type of hours don’t you think everyone would retire by 30? I get not wanting to go bald early working at a sweatshop but like…you’re going to have to work kinda hard for 10 years…you can survive UMM 50-70 hours a week.
F500 shareholder.
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