Give up on IB for starting my own business?
Trying to do some big picture strategising on my applications this cycle.
In the next 5-10 years I want to start my own business. My plan for a while now, based on where most founders come from and given I don’t go to Harvard/Stanford, has been to do Management/Strategy consulting and go from there.
More recently (last couple of years) I started considering IB, which is of course only more competitive. The hours are more prohibitive, the pay is better, the C-Suite exposure is worse, and I’m less likely to get in. If I end up deciding to gun for VC first it also seems that CO is more conducive (at least certain MBB/T1s), while IB sets you up for HF/PE to a greater extent.
I think I could thrive in either industry, but I’m trying to optimise for entrepreneurial success.
I’m a graduate with no internship from a non-target. I might be able to pull off IB if I slaved away at it, but the risk is turning a means to an end into the end itself.
So the broad question: How would you / How have you seen others optimise for startup success?
The more focused question: Should I give up on making unlikely applications for IB, and go all in on CO for this cycle?
Any other entrepreneurial advice more than welcome
If your ultimate goal is entrepreneurial success, here's what you need to consider based on the most helpful WSO content:
1. Optimizing for Startup Success
2. IB vs. Consulting for Your Goals
3. Your Background and Risk Assessment
4. Advice for This Cycle
5. General Entrepreneurial Advice
Final Thoughts:
If your goal is to optimize for entrepreneurial success, going all-in on consulting for this cycle seems like the smarter move. It aligns better with your background, offers a more achievable path, and provides the skills and network you’ll need to succeed as a founder.
Sources: https://www.wallstreetoasis.com/forums/qa-consulting-pe-early-stage-startup-b-school?customgpt=1, If You're Stuck Choosing b/w Consulting and Banking, DO BANKING, Start up = Career suicide? Want to get into IBD. Need advice and mentorship., I've had more luck with entrepreneurship than with career: advice desperately needed, https://www.wallstreetoasis.com/forum/investment-banking/not-sure-if-investment-banking-is-for-me-anymore?customgpt=1
Much as this is an absolute classic it’s also exactly what I’m worried about: at what point in the avg. 100hr weeks I’ll pull for 4-6ish years will I be stopping to commit time and mental energy to a business
My experience: I left after my IB Analyst gig to do a start-up and don't regret it one bit. Ultimately it didn't get a successful outcome but the intangibles gained were something I could never get from doing IB. With that said, afterwards I transitioned back to a chiller MM PE role but admittedly I don't think I would have gotten it without my IB background. The start-up was just interview talking points but made for some fun conversations.
I think in 2025 smart and driven people can get roles anywhere regardless of their background (with some exceptions) based on story-telling and preparation for the role. To answer your focused question though: neither IB or CO will truly prepare you for the start-up/sweat equity grind. FWIW the only translatable skills from IB over to the start-up were pure grit and ability to use Microsoft suite well (lol). And people took me more seriously in intro conversations. Otherwise, the start-up life is something you learn on the fly, for better or worse. DM me if you have anything specific
Extremely helpful advice thank you so much. A few broader questions if you don’t mind, and I might shoot you a PM later:
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