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Based on the most helpful WSO content, here's a roadmap to maximize your earnings and set yourself up for financial freedom:

1. Leverage Your Big 4 TAS Role

  • Short-Term Plan (2-3 Years): Use your time in the Big 4 TAS (Transaction Advisory Services) role to build a strong foundation in deal-making, financial modeling, and transaction experience. This is a great stepping stone for transitioning into high-paying finance roles.
  • Certifications: Consider pursuing a CFA (Chartered Financial Analyst) or CPA (Certified Public Accountant) to enhance your credentials. Big 4 firms often provide time and support for these certifications, which can significantly boost your marketability.

2. Exit Opportunities

  • Private Equity (PE): After 2-3 years in TAS, aim to transition into a private equity role. PE is one of the most lucrative fields in finance, and your transaction experience will be highly relevant.
  • Investment Banking (IB): Another option is to lateral into investment banking, particularly in M&A or restructuring. This can set you up for a similar path to PE or hedge funds.
  • Corporate Development: If you prefer a slightly better work-life balance, corporate development roles at large companies can also be a solid exit option.

3. Maximize Earnings

  • Focus on Buy-Side Roles: The buy-side (PE, hedge funds, asset management) generally offers higher compensation and better long-term wealth-building opportunities compared to sell-side roles.
  • Geographic Considerations: Consider working in high-paying financial hubs like New York, London, or Hong Kong to maximize your earnings potential.

4. Aggressive Saving and Investing

  • Savings Rate: Continue your aggressive saving habits. With no student debt and a $100k head start, you're already in a strong position.
  • Invest Wisely: Diversify your investments beyond crypto. Consider index funds, real estate, or even private investments as your career progresses.

5. Long-Term Vision

  • MBA (Optional): If you find it challenging to break into PE or IB directly, a top-tier MBA can be a game-changer. It can open doors to elite finance roles and significantly boost your earning potential.
  • Retirement Goal: To achieve your 8-figure retirement goal, aim for roles with high bonus potential and invest consistently. Compounding returns over time will be your best ally.

6. Lifestyle Alignment

  • Since you prioritize financial freedom over flashy lifestyles, avoid lifestyle inflation. Stick to your values and focus on building wealth for the experiences you value, like traveling and exploring nature.

By following this path, you can maximize your earnings while staying true to your long-term goals. Keep grinding, and you'll be well on your way to financial independence!

Sources: The Forgotten IBD: Big 4 Corporate Finance - Q&A, Accounting vs Finance: Part 1 – Career Paths, The Efficient Career Hypothesis: Almost All Jobs Are Priced In, Is IB not as attractive anymore?, Accounting vs Finance: Part 1 – Career Paths

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

I mean if you’re optimising solely for income through a finance career surely your goal is to do IB > PE? Some variation on step two given the debate on how buy side comp is going, but yeah. Zero WLB though so question is how old are you willing to be when you become free

 

Willing to be a computer monkey until mid 30s. Then I want to move to a Corp dev / corp strategy role at a tech company with better wlb.

Fully retire around 50, with aggressive saving the whole way.

I think you are right I need to go to IB, but I was curious if it's worth leaving IB for PE nowadays, I have heard that comp is not as good as it used to be

 

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