Billionaire Father - Career Path?
Good afternoon,
As the title suggests, my father is a billionaire ($700 million to $1.1 billion NW)
I have been grappling with my career path for several years, and as I enter my sophomore year at a target school, the pressure to narrow it down has intensified. I need to make some decisions over the coming year recruiting wise.
My dad is in the media business but still has great finance contacts. That said, I think that in order to build a strong platform that will allow me to open my own firm one day, I should try recruiting for top-tier IB, such as GS, Allen & Co, Liontree, etc., and then spend a few years at a strong private equity shop. I'd really like to open my own firm in my late 20s, or early 30s at the latest. I know this is uncommon in private equity, so I would likely need to launch as a co-founder with a more senior professional I've worked with since the minimum needed for a solid PE startup is at least a few hundred million in commitments.
On the other hand, there seems to be more non-linear promotions and launches in the hedge fund world. I could try for a MM or SM fund, and then try to split off after a few years as an analyst.
Keep in mind, my dad would stake me with, let's say, $100 million, give or take. I need to have a strong career up until I get to this point, and I am a little confused about how I should proceed.
What would you do in this situation? Thanks!
Give me the $100M and I’ll refer you at my firm (GS/CVP/EVR)
I’m a junior from a middle class family, please dont look for a high paying job. You and your family legitimately will never have to worry about living again, and getting a job in finance with a billionaire dad is just taking a job from a middle or lower class person who actually needs to work up the ladder to give their families a better life.
Soft take. You wouldn’t want to work next to an analyst with a billionaire family and develop that connection?
Something wrong with a kid who wants to pull 100 hour weeks when they don’t have to?
Uncompetitive nonsense. Please move to IR.
This is how you know despite WSO’s titles who actually is in the industry.
Never in my life have I seen a client kid clock in 80 hours. They’re doing dinners on weekdays, going golf in the middle of the week.
It’s just a 9-5, maybe 9-7 at it’s worst for client kids.
just work hard pussy im middle class as well
No hate brother but this just sounds like youre listing finance jargons and abbreviations you read on this forum
i.e. you sound lost.
I respect your vision and honestly you have better shot than most people, but you haven’t even worked a second in this industry yet. Give it some time to figure it out. You have plenty of it.
missing rbc fyi
RBC > Emperor of Rome
rbc > life
also boutiquetard i just want to say i fuck with u fr broski, all love brotha
I can tell you're a little clueless - allow me to help.
1. Transfer to Canada: Canada has underperformed the US for a decade, so they're due for a swing back. Trust me, if you're smart, you won't want to miss this.
2. Aim for one of the "big 3" Canadian business schools: (IVEY/Dalhousie/Queens)
3. Focus on all your efforts on joining Dawson aka Dawson Partners aka Whitehorse Liquidity Partners: This is the most tried and true path to success in Canada
4. Open your own secondaries shop: Call it blackhorse liquidity partners
5. Profit: Secondaries market is due for a huge boom because PE is all going to zero
6. Run for office: Canada needs real leadership - will you step up to the plate?
i get all of your references except the dawson/Whitehorse liquidity one. what's wrong with that fund? all previous posts have been wiped clean by mods
They just have terrible returns
I don’t get any of the references…. Care to explain?
If you're the son of a Billionaire based in Canada, then you're supposed to become a Formula 1 driver
Bro snuck in Dalhousie, what on earth are you talking about,
What are YOU talking about?!?! Landing a spot at one of Dal's top finance clubs (DQFS/DALIS/DAS) will basically guarantee you a spot at one of the most prestigious EBBB's (Elite Bulge Bracket Boutique) in the country (RBC/Dawson/BlackHorse)
.
If legit, I don't know if I respect it or find it crazy. Maybe a mix of both. A solid way to prove your worth to yourself and to your family?
Yes, think a Liontree or those sorts of smaller boutiques might offer an interesting experience, though realistically if your father can get you personal investment and career development from experienced seniors anywhere then it likely doesn't matter as much.
I think investing roles would definitely be valuable experiences if you want to eventually manage the family fortune yourself (or at least know the right people), though I wonder if PE might be too specific given you would certainly be investing in public equities, bonds, etc.
Become a musician or artist or open a gallery, why tf would you want to become a finance professional (other than you really enjoy it)?
he wants to spend his life on creating ppt slides - that's the best thing you can do in life when you're financially independent and can do anything you want
Tell your dad to open up a family office, recruit a few hotshots from high finance and get them to mentor you. Aligning logos and pulling comps won't do anything for you in the long run and there's no need to go into banking/PE; You're already at PE LP stage (Nirvana).
This.
Your first mistake is coming to this forum. Please don't choose a career based on prestige or simple earnings potential. You are in one of the luckiest situations in the world: you don't need to get stuck in a career that makes you hate your life just for the money. I recommend you take your time to figure out what you REALLY want to do in life. If you have any passions, chase those. If you don't, figure out what you're passionate about. If you are actually passionate about finance/markets and not just the prestige/money, then go network with IB/PE/HF guys and get a peak into their lifestyle to see what clicks with you the most.
I am not born in America nor have citizenship.
This can’t be real hahahahahaha
Ladies and gentlemen, Kendall Roy has entered the building.
Yo, forget finance bro. Your dad's loaded and probably knows his shit. Learn everythign about business from him. Maybe do a strategy role for a bit, then start your own thing. Why slave in finance when you can create soemthing? Use that 100 mil and go build something.
You’ll probably hate it but go for it. You’re value add is going to be as a fundraiser. You can bring 100m into any fund you cofound. You need to be hyper aware of that is what you bring to the table.
What you should look for is the founders that are sweaty and smart but don’t have as easy access to funding. Your proposed background will allow you to cofound these, work, and understand what’s going on. That said I think you should really think about what type of firm you want to found and would be interested in. It doesn’t just have to be PE it could be in PC or a Quant shop.
You should never work for someone else. Take risk and start something.
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