What do undergrads do next?

Now that most of the best REPE firms hire directly out of undergrad, what do these new analysts do after a few years? Will it end up just being a bunch of people bouncing between these top firms for bumps in title until they have enough credibility to start their own shop or something?

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"lkjhg" Will it end up just being a bunch of people bouncing between these top firms for bumps in title
Probably this or moving into a smaller shop
"lkjhng" until they have enough credibility to start their own shop or something?

Not impossible but not likely. There is a huge risk associated with this. Not just financial but social risks too. "What will XYZ think?" is an often understated thing on this site. XYZ can be someone's friends, family, wife, even current boss.

Edit: This does not apply to everyone. Some people simply do not care about others and keep their overhead low and lifestyle simple to be able to execute on running your own shop. Hard to do if you've got the gated community mortgage, private school payments, Range Rover for the wife and Merc S Class for yourself, AP/ Rolex/ Patek, expensive vacations, grad school debt.. list can go on.

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