Make the most money in 5 years
I am currently an incoming IB analyst at a middle-market bank. However, I plan to leave the corporate world in approximately five years to join my family’s small-medium-sized business.
My dream is to grow the business by investing everything I save into it and operating it to the best of my abilities.
Given this goal, what path should I take to maximize my earnings over the next five years? Should I stay in banking? switch banks frequently? pursue PE? Transition to a non-financial institution?
While a role that allows me to learn more about growing and operating a business would be a plus, I recognize that, given my junior level, I may not gain extensive experience in this area right away. That’s okay, as I’ll have the rest of my career to learn about the industry. My primary goal is to maximize the capital I can bring to the table, as this has always been our main constraint.
Any insights would be greatly appreciated!
Likely staying in Banking will maximize your cash compensation. Assuming the IB cycle is decent throughout the next 5 years (and your MM firm pays 100% cash bonuses), as an associate in banking you'd be out earning associates in PE (in most cases ). Additionally, in the high paying PE roles, it would likely be a 2-in-out program so you'd either be 1.) forced to get an MBA or 2.) need to find a new firm to work for.
You sound pretty naïve / ill-informed on a couple points you make but I won't question those as that wasn't your question.
Thanks for this! Couple follow ups:
- 4 years it’s okay as well, so do you think 2years IB 2 years PE would work best? (of course assuming i’m able to land a high paying PE)
- Feel free to let me know where in being naive/ill- advised, i’m all ears
You need to lateral to BofA
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