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Career Resources
Based on the most helpful WSO content, here are some insights on choosing between Hedge Funds (L/S) and Entrepreneurship, especially when optimizing for long-term freedom:
Long-Term Freedom: L/S vs. Entrepreneurship
Entrepreneurship:
Hedge Funds (L/S):
Anecdotes and Considerations:
Conclusion:
For more detailed discussions and personal anecdotes, you might want to explore the following threads on WSO: - https://www.wallstreetoasis.com/forum/investment-banking/overlooked-tru…</a">Why You Should Launch a Startup Instead of Going to the Buyside - https://www.wallstreetoasis.com/forum/real-estate/best-path-for-re-entr…</a">Breakdown of Post-IB Exit Opportunities
These resources can provide further insights and help you make an informed decision.
Sources: Best Path for RE Entrepreneur, Why You Should Launch a Startup Instead of Going to the Buyside, Entrepreneurship or IB... How do you choose?, Why You Should Launch a Startup Instead of Going to the Buyside, Breakdown of Post-IB Exit Opportunities
Bump
Depends on how you define freedom. Is the goal to grind now and accumulate enough wealth quickly to "FIRE"? If that's the case, then go with the HF, ratchet up your savings rate, and hope you can not only survive, but also get lucky with a few big bonuses. If freedom is being able to roll into work late, set your own schedule, travel when you want, not have a PM breathing over your shoulder, but also having an incredible amount of responsibility with little reprieve then buying a business could be the path. Context is important too-- how much $$$ do you have saved, do you have family financial support, do you have kids etc. Happy to discuss privately as someone who wanted to go the HF route but ended up on the business path (albeit as part of a family business, so I had a lot of support / didn't need to take on much risk).
Would love to hear more about how you made the decision, if you're enjoying it, how it has been to run a family business etc.
Thanks!
Happy to answer more specifically in private with the major caveat there will be much greater variability in outcomes going the business route than simply going to work at a fund, where the jobs are basically the same firm to firm and the people all graduated from same three business schools. My time has been interesting, both good and bad; I love the freedom per the above but there is a lot of crap that you have to deal with every day. When you have a job, you have a reasonably set list of responsibilities and someone telling you what to do; there's not much else to worry about if you do your job. Tech problem? Email the helpdesk. Company gets sued? Let the legal department handle it. When you own a [smaller] business, everything falls on your plate at the end of the day. Some people will relish in tackling these new challenges every day, others would better enjoy staying within the confines of a pre-set job. Also, our businesses are industrial/manufacturing/factory type stuff. Managing a team of factory workers could not be more different than working on a team of white collar, highly educated MBAs.
Thank you for the helpful responses. Can I pm you to provide more context?
You're optimizing for freedom and want to own a business?
Unless you are doing 9 figures in revenue, or OK running at some embarrassingly slow growth rate, it is an awful idea to get into entrepreneurship. You ARE the monkey fixing every issue at the end of the day and can't afford to hire layers until you're well into the 8 figure revenue range.
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