I see so much anxiety on here about being on the "right" path (Avenues->Exeter->HYP->GS->KKR->Viking->$$$). I won't lie and say I didn't have that same anxiety for a few years after I got into this industry. That said, having seen the lifestyle and happiness of people who achieved the realistic definition of "success" in the paths that WSO holds on a pedestal, I want to throw out another path that I think a) is more achievable across a broader range of backgrounds, and b) lends itself to a much better lifestyle without meaningfully sacrificing long-term wealth creation. This is the Professional Board Member path:
- Quit whatever day job you have at 40-45 and start your own "strategic advisory" practice
- Get on 5+ boards - $50-75k+ cash comp each + equity for going to one meeting a quarter (board seats at $500mm-$1bn+ TEV companies open up every day - bankruptcies, general board turnover, etc. - just need to get on the radars of Korn Ferry, Spencer Stuart, etc.)
- Leveraging the significant board experience that you gained in Step 2, go get an operating partner role at some PE fund - carry + 6-figure cash comp for showing up to some management meetings, reading IC memos, and going to a few more board meetings
- Lastly, as you feel like it, get linked up with Alphasights and GLG and do some expert calls from the Maldives at $750-1k/hour
So you end up with a high 6-figure cash annuity stream + carry/equity and you can do whatever you want for the rest of your life. The best part is you can do this on basically any path so long as you're investing in your network. Stuck in Big 4 audit? Every public company needs an audit chair - just stick it out, make partner and you're free at 40-45. Trapped in F500 FP&A? Stay long enough to get a marketable title (doesn't have to start with Chief), learn your industry inside out and you're golden.
I might be oversimplifying it, but I have dealt with so many chuds who are sitting on 5-10 different boards at any point in time and contribute literally nothing beyond asking about D&O insurance. If they can do it so can you.
And sorry if this comes across as a sh*tpost, if I can put one person at ease about their long-term trajectory I will have achieved my goal :)
This is literally my goal. Trying to leverage MBB consulting to make it to director as quickly as possible, and from there should be able to leverage into a VP spot at a midsize co by mid 30s if not earlier. Plus from what I’ve seen once you hit director level in corporate you seem to have extremely good job security- pretty much locked into a mid 200s comp floor till you turn 60