Feeling dejected about corporate life and thinking of starting own business
Using a throwaway account for obvious reasons...I'm in my late 20s and have a mid-level corporate job. I worked on Wall Street (being vague here on purpose and no I'm not a 3rd year IB analyst) for a couple years after college than moved into corporate hoping for better hours and a better lifestyle. Yes there are some things about Wall Street I was happy to be rid of (e.g., true all-nighters, insane client requests, being your own 2 AM graphics dept, etc.). However, overall corporate has been largely disappointing. Here are my biggest gripes -
Average hours are barely better. Yes there are fewer all-nighters but when things were slow in my prior life, hours weren't that bad. Also in corporate, its minimum 45 hours a week and that's 45 hours of work, not 5 hours waiting for the MD to write in deck comments.
Coworkers are overall lower quality. Yes their are some a**holes on wall street but I found most people to be smart, driven and decent to work with. In corporate you get a few stars, lots of okay and more than a few duds
Work is barely more exciting than what I was during as an analyst and I'm not that far from the exec level.
The culture in most corporate functions (FP&A, Treasury, Accounting), etc. tends to be VERY risk-averse and as someone that has a more entrepreneurial spirit, this has been frustrating
As I said in #4, I have an entrepreneurial personality. I'm thinking of taking the plunge in the next 1-2 years and starting my own business. Without going into details, I have the financial ability to do so but it would certainly be a big change compared to my current situation. Any comments would be helpful. Am I just really bored with the Covid lockdown? Have I had bad luck with the companies I've worked at? Thank you!
I've had similar thoughts. I find that there is a small minority of high powered individuals in corporate who are smart, driven, and look the part. Most people are complacent with their 70k-80k accountant job. Part of me likes the idea of being a big fish in a small pond by getting a top 30 MBA and really gunning for the top.. but often times the directors and VPs are in their 40s and 50s and I just don't want to wait that long.
I dream of starting a business (way more during lockdown) but just haven't come up with any viable business idea. But yes, the slow grind of corporate can be taxing on those who want to get to the decision-maker, higher paid roles quickly
I started in IBD and moved back and forth between IBD and corporate gigs through my career. What you have mentioned is also my opinion; corporate jobs and the environment is far more "average". People are average, their work outcome is average and most don't strive for any goals. It seemed all they want is their paycheck so they can live a life.
In total I have founded 3 businesses - one went bust, one broke even and one had an exit. While this was exciting it was so far away from a 9-to-5 as you can be. The skills required to found, grow and operate a business are very different.
Yes starting and operating a business is completely different than working for one. You may even be doing similar work at times, but it has a much different impact and pace. Way higher highs and lower lows. You need to be able to deal with that.
Can you elaborate on the difference of these skills?
The point about risk aversion is salient. But this is exactly what corporations incentivize w/ their structures. Mid-level leaders have zero reason to deviate in even the slightest way. Why risk rocking the boat when you can just keep your mouth shut, work 45-50 hours and collect a check?
Are you at a larger org/ F500?
In that case, find a smaller company to work for. PE backed, high growth, that sort of thing. Yes, it's quite possible the hours will be a little tougher, though not as bad as IB. But, you'll have better exposure, people will be of higher quality and generally more open minded. And if you get in early enough, you could really make more money. You could be corpdev, FP&A, strategy, analytics - and it may not matter what your title is, you can wear multiple hats.
It'll take some effort to find the "right" company, but can be very rewarding if so.
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