How much do you need to not do IB
I have a friend who made 400K through early investing in crypto and Tesla since high school and is going to a lower BB this summer and has a goal of doing PE later on. Personally, I think 400K is enough to not do IB (ofc still have a job), and his family isn't even in need for assistance (in fact upper middle class). What's your guys benchmark of "if I have this amount of money, then fuck IB but still have a light 9-5 job."
People do ib for different reasons. Some do it because they want a name brand on their resume before going back to their family's billion dollar business (have multiple examples of this), others do it because they want to secure financial freedom/security. Assuming you're talking about the latter, which is a bucket I fall into, I'd say it depends on what the alternative is. If it's just a normal corporate job, it would honestly have to be a very high number, considering I'd be giving up so much earning potential over the course of my ENTIRE career, including PE/HF exit opps and other opportunities that I would be missing out on. Just my two cents.
Yeah I was indeed kind of flustered. An 80/20 portfolio of index funds and bonds with that money and decent DCA would definitely make him more well off and exceed the savings of the average analyst + associate stint. Of course VPs would save way more with carry, but again, that includes sacrificing your youth away with locked carry, not to even mention that only 20-30% make it to VP.
Not really. If you're fairly frugal it won't take more than 5 years to build 400k NW if you're at a good paying IB/PE and most people aren't willing to leave then (some are though)
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