Seeking career advise : moving beyond investment banking
I’ve been in investment banking for over four years, but now I’m looking to transition to a more meaningful career. Recently, I’ve noticed that investment banking isn’t as financially rewarding as it was before 2019, based on recent compensation surveys. I’m interested in purpose-driven roles like private equity, venture capital, corporate development, family offices, or any role centered around building companies and collaborating with inspiring founders who create something from scratch. Has anyone else made a similar career shift? I would appreciate some career advice but don’t know where to look for it.
Based on the most helpful WSO content, transitioning from investment banking to fields like private equity, venture capital, or corporate development is a common career path for many professionals seeking more engaging and potentially rewarding opportunities. Here’s a breakdown of what you might consider for each area:
Private Equity (PE): This could be a great fit if you're interested in working closely with companies over longer periods. PE involves buying companies, improving them, and selling them for a profit. Your investment banking experience provides a solid foundation in financial analysis and deal-making, which are crucial in PE.
Venture Capital (VC): If you're drawn to innovation and startups, venture capital might be appealing. VC firms invest in early-stage companies, and as part of a VC firm, you could be working directly with founders and their teams, helping them grow their businesses.
Corporate Development: Often found within larger companies, corporate development involves strategic planning, mergers, acquisitions, and partnerships. This role would leverage your skills in negotiation and strategic analysis, and you'd be directly involved in shaping the future of the company.
Family Offices: If you're looking for a more personalized investment environment, family offices manage the wealth of high-net-worth individuals and their families, with responsibilities that can range from managing assets to planning for future generations.
Each of these paths offers a way to be involved in building and growing companies, albeit from different perspectives and with different types of involvement in day-to-day operations. Networking within these industries and possibly furthering your education with specific courses or certifications could also enhance your transition. Consider reaching out to contacts in these fields, attending industry conferences, or even looking for mentorship within the WSO community to gain deeper insights and make informed decisions.
Sources: Life after 2 years in Private Equity, Q&A: VP in Private Equity (Growth Equity + LBO)...Post-MBA...Formerly IB Analyst, Advice on career and the switch into investment banking, Q&A: Career Transitions - Corporate to IB to Corp Dev to Independent Consulting, Career Advice - Bridging the Gap of Good to Great
Are you looking for rewarding or financially rewarding? Can't imagine you'd be making more in any of those positions besides from PE, or unless you get lucky in a Port Co Corp Dev role once equity hits later on.
PE is the only role where you'll make more than IB and it is definitely not purpose-driven or working with inspiring founders lol. I find it hard to believe you've been in IB for 4 years and don't know anything about these exits or what the comp structure is...
VC sounds closest to what you want, but that will be a meaningful pay cut from IB
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