Ethical post IB exits?

HF, especially activist funds

Keeping it somewhat realistic/serious it would probably be going into a State/Local Gov role, working at an Endowment Fund, or working at a NFP University/Hospital. Maybe you could include becoming a Professor/Teacher. It is a stretch, but maybe doing some type of Infra investing or development in toll roads or renewable energy. Just some top of mind thoughts

Protesting, big money there

Fluffer

Working for investment team of a foundation / endowment 

Heard Harvard is looking for a new president

Heard PIF was hiring

Know 3 banking people who eventually went to med school. One of them was a victim of the GFC and years later, it's evident that Wall Street left a bitter taste in his mouth but now, he seems super happy with his career choice. The most recent one I knew for a bit in high school. He openly told me he was planning on doing finance for 2-3 years and pivot to med school if he didn't think it was a good fit (I still think it might have been pressure from his parents as both were clinicians).

Wouldn't recommend this exit unless you're very passionate about it lol. A lot of these people had a few years in between leaving finance and going into medicine to pick up on pre-reqs / relevant career experience.

Police officer

What does ethical mean?

Ethics and this realm of finance are independent of each other. 

There isn't really any. The closest you can get is maybe working on the investment team of an endowment/hospital/non-profit? You could go government, but most government "finance" roles are like "finance" roles at companies: mainly accounting jobs. Especially at the level you're likely to join at. 

Corp Dev at an O&G company

The closest you would get is something accounting related since accounting is at its core based on the past whereas finance is focused on making decisions for the future, hence you don't have an impact on the future and accounting is a profession known for priding itself on ethics. But it would be a massive downgrade to go from a front office in BB or EB to a mid-sized accounting firm doing work like a Q of E for clients. 

Regardless I think you're focusing on the wrong thing. 

At a higher level you could bring your skills to public finance. May be more rewarding 

Serious question as I’m confused. What is unethical in the typical exits like PE or HF? 

Ethical Capital Partners is the place you are looking for

Literally any established exit from IB is "ethical" - PE/HF juniors are not making any major decisions on the societal level, they are either a cog in the wheel or are at best betting on outside factors helping their positions grow. Finance isn't this "big bad wolf" sector that the layman thinks it is, the GFC removed most of the extreme excess of the industry and really busted down most of the degenerate behavior. You buying some widget manufacturer at BX/KKR/etc for 3x EBITDA and selling for 5x is not remotely unethical. Neither is longing O&G companies and shorting renewables (or any other HF strategy). Your only moral imperative is to manage your investors money and seek their benefit. Overall, your job at a macro level is helping good companies succeed and not exposing yourself to bad companies. This is a finance board, none of us on here are as awful as the layman thinks and definitely none of us on here are as "cool" as we think we are. We are all bunch of a nerds with an interest in making money/competition/economics/whatever. 

Now, if you're looking for a position that has a positive effect on society that isn't just targeted towards large institutions and/or wealthy people, go to law school and become a public defense attorney. But even that could be considered "unethical" by some definitions as you might have to defend serial killers, abusers, etc. Or even easier, go do your well paid finance job, be a good person inside and outside the office and mby donate some of your carry/bonus to charity.