IB, Tech, Startup: when to take risks?

Curious as to how some of you approached riskiness of jobs and careers as a college student/early in your career.

IB ain't looking to hot rn but at the end of the day the paths there to be walked it seems like at least early stage.

Fortunate enough to have had experiences in Quant (Optiver/HRT/CitSec etc) and a BB IB and think I enjoy the trading side more but also really didn't mind IB and the optionality of the exits/not being fired 6 months in for P&L I just can't get out of my mind.

Wrapping up my senior year at the end of the year and part of me wants to just say fuck it go balls to the walls and do quant or a startup but just want to hear some of your thoughts from people who have travelled the path. Thanks all.

 
Most Helpful

assuming you are actually qualified for quant (i.e. you can code and do math) you probably aren't going to get blown out for P&L in 6 months. there is a ramp up and unlikely you would be independent enough to have that kind of risk for at least the first 2 years

my personal framework for risk:

Early in your career you need to build transferable career capital. Thus it is worth being risk averse unless you have an amazing opportunity - i.e. I would generally recommend taking BB IB, big name consulting (MBB/tier 2/big 4), or big tech as a first role.

Don't go to a startup straight away unless you have an amazing opportunity - i.e. work directly for someone who previously had a >$100M startup exit, you get into Y combinator, etc.

Once you have 2-3 years of something strong on your resume, it makes sense to switch to swinging for the fences.

Note that if you are international and need a visa, or have lots of student loans, I would stay conservative until that situation is more derisked.

 

at the end of the day you have to do the best you can. in your early career you need to focus on 1. building transferable skills and 2. branding those skills (not as obvious).

So ideally you join the #1 firm in the industry of your choosing in an impactful role.

if you can't do that work your way down to the most transferable/best branded thing you can get.

i.e. no IB offers? can you get a big 4 accounting offer?

No big tech offer? can you get an SDR (entry level sales) role at the largest tech company in your city?

point #2 - get the best branding - is related but not the same thing as prestige. when you are early career if you go to a small company the average hiring manager doesn't know WTF it is. if you instead have a recognizable brand it will create legibility for you. "Oh, he worked at KPMG. hes a solid accountant" - even tho most of us here probably don't consider KPMG audit to be prestigious, it is actually valuable

 

Omnis voluptatibus exercitationem assumenda odio. Omnis dignissimos doloremque vel soluta et laudantium. Quod vel ut voluptatum fuga qui incidunt. Molestiae commodi et reiciendis expedita atque ut aperiam. Reprehenderit dolore sint ipsa quaerat quam suscipit rerum. Autem voluptate quos vero.

Nesciunt sit in et molestias soluta ut debitis. Ea voluptatem et dolores pariatur libero. Doloribus aut nihil animi maxime facilis accusamus veniam consequuntur. Facilis nesciunt animi voluptatem tempora totam voluptatem.

Est ipsa excepturi saepe earum asperiores. Ullam quo eum ipsum non earum. Ab repudiandae aspernatur culpa.

Perspiciatis quos error aspernatur nostrum omnis numquam. Et fuga est rerum dolor dicta nobis. Cupiditate quo quisquam sed autem.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”