Is it worth it to start in IB if my long term goal is CFP?
I've made a somewhat similar post in the past but putting it back out there with some different info/recent thoughts. I'm a soph currently recruiting for IB but don't know if it's worth it for me. My long term plan is to be an independent financial planner - no cutthroat culture, performative corporate BS, get to be my own boss, help people, etc.
Until recently I was set on starting in IB to build up some credibility and put a chunk of money in the bank with 40+ years to compound before I'm 65. However, I'm starting to have thoughts that the stress, hours, lack of social life, etc. may make starting in IB not worth it for me given I don't have much interest in being a career banker/going in to PE and I also heavily value health, time with friends and family, hobbies, dating, etc.
IB could give me some early credibility in WM, help me meet people (I'm from and go to school in a flyover state), and give me some fun money as a 22 y/o in nyc/chi/sf, but once some time passes prospective clients won't gaf about the job I had from 22-24 even if it is IB, and I have parents and grandparents who made very little at the start of their careers and are now retired/retiring with more money than they know what to do with.
Any advice on whether I should stick with the IB path or go right into financial planning/wealth management is much appreciated.
Literally no, I have seen about 5 people to ever go from IB to WM. If you wanna go to wealth management, get an internship. I can guarantee you no client will say, "wow my advisor's analyst spent 2 years in IB!"
If you are having doubts about it, try to recruit for an IB internship and try it out then get a junior year internship in WM.
Makes sense, thank you. FWIW I meant the IB experience giving me credibility when I eventually go out on my own but I understand the perspective.
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