Got an offer but having second thoughts (opinions) May turn it down
So I got my offer, but frankly I do not want to do Ibanking. I have talked to many alumni, family friends etc and they have all said for my goals I should not do Ibanking because it has no relevance and besides that they are telling me to not go onto Wall Street in general (MD's PM's etc). Also I talk to so many people and they all hate it, and to me the buyside doesn't make me any happier. Quite frankly I have realized I really have no interest in the financial industry as shown by my WSJ's accumulating in my mailbox. I just don't care, I feel like it incorporates too many politics.
My goal in life is to grow a business, I don't want to be a cog in the machine and follow a path to 'greatness'. I want to be able to look at something and say I built this and it has gotten me this far...lets see how far I can take it now! Ever since I was young I have been writing fake business plans for fun regarding all types of businesses.
I am planning on now turning down my offer and trying to pursue those goals. No matter what industry I go into, what do you think is the best way to approach my goal?
I am thinking I should leverage a few connections into different industries I like and learning the back bones of the organization. On the other hand someone I know is starting up a medical devices company, should I jump in on that?
Opinions?
What are the MBA viewpoints on successful no-tech start ups? The business is expected to grow to possibly upwards of 100 million. He has done this previously with great success.
If it were me.. I would take the offer. Start ups are just too risky to me. I would be afraid that 5 years down the line I would regret possibly the biggest mistake of my career. But who knows. Sometime the most unexpected decisions are the best ones and if it's really what you love and you're good at it, go for it. This response probably didn't help you at all.
stick to banking for a year or so first. no one i know do it because they love it, and many of then hope to be entrepreneurs eventually as well, but we all make sacrifices.
Wouldn't hurt to put a little money away for a year or two... Might make the first couple years of living on an entrepreneur's salary more bearable.
I think the OP is clear in what he wants and this forum might not be the best source to get "be an entrepreneur" suggestions. If at this point you are sure that you want to do something else, then do it. Most of us bankers will probably fail in achieving the unrealistic goals we set ourselves when we started and we might have a feeling of security but we all know that within a day we can be let go. We tell ourselves that the sacrifices aren't huge and that it will be better in 1-2-5-10 years but who can say that with absolute certainty?
You got admitted to IB which means you're probably a smart kid and if your entrepreneurial plan right now doesn't work out then that will hurt but you'll be able to get on your feet again.
If you have faith in that startup or a good idea yourself, go for it. Especially if the guy has some seniority and you can learn from him that might be a nice opportunity.
However I'm not sure what you mean with "learning the back bones of the organization." From personal experience, learning these things for one industry takes a lot of time so that you should know very well which industry you want. Being the assistant of a CEO at a mid-cap firm would in my opinion be the best position to learn about an industry. Obviously that guy needs to have 100% faith in you but from personal experience I know that this can lead to great insights and a good work/life balance, too.
No clue about MBA admissions, though.
you all got trollllllllllllllllllllllllllllled
this guy is a PE Partner
Being an investment banking analyst for 2 years wont get you anywhere closer to being an entrepreneur if that is what you want. Go for it. You're doing what most bankers dream about.
Voluptatem mollitia sed consequatur dignissimos consequatur qui quaerat. Veniam sint magni nulla quisquam.
Consequatur dignissimos sit quas nihil alias. Quos ut totam voluptates sed ut quidem. Laboriosam optio omnis quam ea atque id atque. Et dolores consectetur tenetur saepe provident.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...