Investment Banking Unorthodox Exits?
Ignore title, I am a second year analyst in a tech M&A in New York. I am prepared to interview for PE but have been putting it off for a few reasons, primarily that I don't see myself being happy joining the bottom of the corporate ladder with nothing but the golden handcuffs keeping me going. Many of my fellow analysts left for Corp Dev roles, and frankly a lot of the companies they join seem interesting- tech and software companies small and large with great WLB and solid comp. I don't need the WLB and salary assurance that Corp Dev offers. I don't want to constantly pass on opportunities and go home at 6pm. I am hungry and want more work + excitement than that. The comp and work itself of PE / GE tempt me, but I think I need something different. It's hard to describe, but I just don't want to be stuck in this track of always working for that next promotion without ever really doing something that feels fulfilling (making partner sounds great, but then I wake up when I am 50 like "great I made it to partner and am loaded but my life sucks and I have done the same thing forever." Also, the growing notion of limited upward mobility does not help).
I am ready to take a risk. I will have some money saved up, some experience in tech under my belt, and frankly I am young and want to live without regrets. I do not need someone to convince me that I should be risk averse and work for my children's future. I need to know: what are some unorthodox banking exits?? Can I go into Product Management without a technical background? How would I make that jump? I would love to join a startup / small software company but not sure what I have to offer. If you'll bear with me and assume I have awesome sales and leadership skills, where can I pivot out of banking and into a software company? I am close to starting my own business or finding a small team with a product and culture I love (easier said than done). Sidenote... what is the startup environment like in SF, Boston, etc. when compared with NYC? Thank you in advance!
Why don’t you just email recruiters at companies you may be interested in and ask how you could join? Databricks seems to have an awesome culture and is likely hiring after a huge PC capital raise, just to name one.
Seems like that might be the kind of risk I don't want to take... happy to risk outcome / money, not willing to join a company to end up just doing FP&A. Curious what they would say to a banker who articulates that they want a product focused role or something else. My question more about what is out there (you're right that I should probably reach out to companies).
Left IB to become a financial advisor. 2nd best decision I’ve ever made. Give it a look.
Did you join a PB, wirehouse, or RIA? Do you mind if I PM you?
Becoming a farmer.
Ignore the name, WSO got no farmer flair.
I grew up on a farm and most of my family are farmers. Does that count?
Nah, that is just nepotism. Now tell me you are applying to the diversity program.
Nearly every early stage company needs help with modeling (forecasts, and more FP&A, pricing, etc.), marketing/funding presentations and data rooms. Embrace that and go exploring what earlier stage companies (ideally post-Series A, looking to B or C rounds) are in need of your services. I know people who do this as consultants and others who do it FT. The companies often don't realize they even need this skill set, but it's critical when closing a funding round and also adds value to core operations.
This^ with a negotiated favorable equity vest.
Knew a few people that did this out of banking and didn’t really understand it at the time. Now those businesses are getting real institutional growth capital to scale.
How do you ensure that your equity converts in the event of a majority recap / buyout? I've heard of those without pref shares losing their equity due to unfavorable valuations, so I'm kind of wondering how common that is and if there is any way at all to protect against that. I don't even know what the vesting options would be at a startup / growth stage company where you are receiving equity
What do you think about starting a tech startup as an exit? Has solid connections that are also doing banking first thing out of college.
Love the idea and not afraid to fail. Just not sure how much value I’d have to add without actual technical experience. What do you think? To be clear I think I do have actual value to add and there is so much non technical work that goes into starting a company, but the crucial thing is really developing a great product. Please say more
I'm sure there are a ton of unorthodox exits
Sumalee Montano: Harvard -> IB -> voice acting
Granted probably not a good path now, but it worked out well for her
Yeah uhhh I don't think I'm gonna qualify for an academy award but I like where your head is at. Maybe I should quit and become a rockstar or once-in-a-generation poet. Thanks!
I’ve seen bankers exit to public policy and government roles for pretty cool agencies though they were very unique people. If you are a well respected MD with really good relations abroad, you could get tapped to be an ambassador, which is what most McKinsey partners dream of.
I assume this is an exit for seniors, not juniors, correct?
following
Should do tech sales
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