Long-term careers with good pay/WLB

Based on the most helpful WSO content, here’s a breakdown of your options:

1. Corporate Banking

• Work-Life Balance (WLB): Corporate banking is known for offering a much better WLB compared to IB. It’s a "relaxed way to make $500k+ without killing your work/life balance" at senior levels.
• Compensation: Senior corporate bankers (VP and above) can earn significant pay, especially at BBs (Bulge Bracket banks). While comp may not scale as aggressively as in IB or PE, it’s still lucrative, particularly when factoring in the improved WLB.
• Exit Opportunities: Corporate banking provides flexibility for exits into roles like:
  • Private credit funds, CLOs, and other credit-focused funds.
  • Corporate finance roles, treasury, or even CFO positions at the VP+ level.
  • Business school for career pivots.
• Key Skills Gained: You’ll develop expertise in capital structure, syndicated loans, and DCM (Debt Capital Markets), which are valuable in various finance roles.

2. Venture Capital (VC)

• Challenges Breaking In: As you mentioned, breaking into VC from IB can be tough unless you’re in a top tech group or have a strong network. VC roles are highly competitive and often require a demonstrated passion for startups or tech.
• WLB and Pay: VC generally offers better WLB than IB, but pay can vary widely depending on the fund size and location. Early-career comp in VC may not match IB, but senior roles can be lucrative, especially with carried interest.
• Career Path: VC can lead to roles in entrepreneurship, startup advisory, or even transitioning to growth equity or PE.

3. Other Potential Exits

• Corporate Development/Strategy: This is a popular exit for IB analysts seeking better WLB. Typical hours are 9-5, and you’ll work on M&A and capital-raising for a company rather than a bank. Pay is solid, and it offers time for side projects or personal pursuits.
• Private Credit: If you enjoy debt investing, private credit funds are a natural transition from IB or corporate banking. These roles often combine strong pay with manageable hours.
• Treasury or CFO Roles: For those who stay in corporate banking longer, transitioning to treasury or CFO roles at corporations is a common and lucrative path.

Recommendations:

• If WLB is your top priority, corporate banking or corporate development are excellent options. Both offer strong pay relative to hours worked and provide career stability.
• If you’re passionate about VC, start building your network early and consider gaining tech or startup exposure during your IB stint.
• Keep in mind that your career path is flexible, and many exits depend on the effort you put into networking and positioning yourself for the next step.

Let me know if you’d like more details on any of these paths!

Sources: Breakdown of Post-IB Exit Opportunities, BB Corporate Banking Exit Opps?, An Overview of Corporate Banking, Breakdown of Post-IB Exit Opportunities