Best VP exits
What are the best exits for VPs that have okay work/life balance but still reasonable pay
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Based on the insights from Wall Street Oasis, exiting as a VP to roles that offer a better work/life balance while still ensuring reasonable pay can involve several paths. One notable option includes moving into corporate development or strategy roles within the industry. These positions often provide a more balanced lifestyle compared to the high demands of investment banking or private equity, without a significant compromise on compensation. Here's a breakdown:
Corporate Development/Strategy: Transitioning into corporate development or strategy roles is a popular exit for VPs seeking a better work-life balance. These roles involve working on mergers and acquisitions, strategic planning, and business development within a corporation. The work hours are generally more predictable and manageable compared to investment banking, with many professionals reporting a standard 9-6 schedule. While the compensation might not match the highest echelons of banking or PE, it remains competitive, with the potential for significant bonuses based on deal success and company performance.
Investment Management: Another viable exit is moving into investment management. This field offers a relatively better work-life balance, with typical work hours ranging from 8-6/7. The compensation in investment management can be comparable to or even exceed that in corporate banking, depending on the firm's success and your role within it.
Private Equity at Smaller Funds: For those interested in staying within the realm of investments but seeking a better lifestyle, smaller private equity funds can be an attractive option. These funds often have less competitive processes and a slower pace, allowing for a more manageable work-life balance. While the compensation might vary, there's still potential for earning carry dollars, making it financially rewarding.
Tech Industry Roles: VPs with a knack for technology and innovation might find fulfilling roles within the tech industry, particularly in corporate development or operational roles. The tech industry is known for valuing talent and offering competitive compensation packages, including stock options, which can be highly lucrative. Work culture in tech companies often emphasizes balance, flexibility, and innovation.
Consulting: Transitioning into a senior role in consulting, especially within strategy consulting, can also be a suitable exit for VPs. Consulting firms value the experience that VPs bring from the banking or PE sectors. While the consulting lifestyle can involve travel and client-driven deadlines, many firms are actively working to improve work-life balance for their employees. Compensation remains competitive, with clear paths for progression.
Each of these paths offers a blend of reasonable work-life balance and compensation, making them attractive options for VPs looking to exit high-pressure roles without significantly compromising on their lifestyle or earnings.
Sources: Exit as a VP because lost interest, Private Equity shops with the best work/life balance, The logic behind going into a Corp Dev/Strat for work-life balance?, 4 Real-Life Consulting Exit Opps of My Former Colleagues, Checking in 6 years later [IB to MBB transition]
bump
keen to know also.....
Bump but please nothing on Corp Dev exits which are awful
Bump
Bump. No one is replying because it probably doesn’t exist
One VP in my old banking group exited to VP-level at a MF’s growth arm, seems like their lifestyle has improved. Another VP exited to become COO at a mid-stage startup and got a great equity package, last thing I heard is that he’s made a killing after the startup raised a significantly upsized new round of funding.
How much do you estimate they made?
Retirement.
For run of the mill VPs (most), going to have to pick between the "great exit" and "reasonable pay" parts. This is the level where the golden handcuffs really start to lock up. Too junior to have a book of clients, too expensive to be an execution monkey / number cruncher. Unless you're going into something early stage and taking in a bunch of equity.
For people with differentiated skillsets or experience, opportunities are a lot more open.
What classes as differentiated skillset?
Take this with a grain of salt coming from a guy in a buyside seat, but...
I feel like a lot of younger bankers are lacking perspective on "Corp Dev" exits.
The way you make real money in "main street" corporates, is to put yourself in the pipeline to be C-suite someday. You're not getting some big pay day just to do the Corp Dev work.
There are a litany of 45+ year old CFOs out there that came up through "back-office-ish" accounting/FP&A roles. Their bios often end with "began his career at E&Y or Arthur Andersen".
I think a lot more of these opportunities over the next decade are going to be "finance forward" (aka former bankers).
Are you qualified to be a CFO on day one as a post-associate / VP investment banker? Probably not. But I see several people on Linkedin and in 10Ks who ultimately complete the transition. You have to play a longer game, yes, it's not get rich quick. This includes office politics and learning the job you want, not just the one they give you. And if you sit around in the same S&P 500 company, get in line, the bureaucracy will be daunting and there will always be another 50 year old waiting in line for his turn in front of you. (You don't have to go all the way down to start up, but there is a middle ground). The other way to accelerate it is to job hop (moving from corporate to corporate every 2 or 3 years with the help of a recruiter to ensure you keep getting fast tracked for promotion / more responsibility) and keep up your network with guys who went into PE (and ultimately will need good PortCo people).
But starting out in banking for 5-8 years can help you leapfrog over legions of "NPCs" as the kids say these days that are working in these companies for legitimately middle class wages and have no real hope of material career progression (because they're not viewed as talent).
This is correct. Lots of potential in sponsor backed buy and build platforms to earn via sweet equity.
You won't earn the same base salary or bonus but you make your paydays when the firm undergoes an exit.
Get some sweet equity, roll it into newco, then do the same. Then when a strategic buys it or it ipos you get your payday.
Can make more in 10 years than a vp would at a bank. Just has to be the right firm that is growing fast enough to grant you your sweet equity hurdle.
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