Absurd startup opportunity, should I take it?
At 2~ years in M&A banking. Without giving it away there is a Series A-B startup that is exploding right now, and they are aggressively hiring. Over a $50k base bump ($180k~ base + bonus) + equity in a company that is skyrocketing is the proposition, backed by some big names. The role is operational / client facing and not very financial in nature (which seems perfect) and seems very busy, and prob 5x more interesting than my current banking job. I also don't want to do PE. If I do this for 1-2 years would I be in good shoes to go for a top MBA? I'm at a respected bank and went to a solid semi target undergrad. My longer term goals are def operational in nature and not on the investing side unless I circle back to PE as an operating professional or a VC with industry experience later in life.
Based on the most helpful WSO content, this opportunity seems like a compelling one, but there are a few key factors to weigh before making a decision:
Compensation and Risk: While the $50k base bump and equity in a rapidly growing startup are attractive, remember that startup equity is inherently risky. If the company succeeds, the upside could be significant, but if it falters, the equity could be worth little. Ensure you're comfortable with this risk-reward tradeoff.
Alignment with Long-Term Goals: Since your long-term goals are operational and not investment-focused, this role aligns well with your aspirations. The operational/client-facing nature of the role could provide valuable experience and set you up for future opportunities in operations, strategy, or even VC/PE as an operating professional.
MBA Prospects: Your background in M&A banking at a respected firm, combined with operational experience at a high-growth startup, would make for a strong MBA application. Top MBA programs value diverse experiences, and this move could differentiate you from traditional finance candidates.
Exit Opportunities: If the startup succeeds, your experience could open doors to senior operational roles, strategy positions, or even entrepreneurial ventures. However, if the startup fails, your banking background and the prestige of your current firm could still provide a safety net for future opportunities.
Work-Life Balance and Interest: You mentioned the role seems "5x more interesting" than your current job. If you're genuinely excited about the work and the startup's mission, this could lead to greater job satisfaction and personal growth.
Key Considerations:
If you're comfortable with the risks and the role aligns with your long-term goals, this could be a fantastic opportunity to pivot into operations and set yourself up for future success. Just make sure to do thorough due diligence on the startup and its prospects before making the leap!
Sources: MBA? Go to Wall Street NOT a Start Up!, Banking -> Startup PM on who SHOULD join IB, Turing down IB FT offer to run my startup?, Breakdown of Post-IB Exit Opportunities, BB vs EB total compensation
Take it. It sounds like you've made up your mind and it aligns more with your long-term goals. You'll learn way more and if it's really doing as well as you say, it'll be a springboard to accelerate your career.
If you can, negotiate for more equity vs. cash -- generally, that's a more positive signal to the hiring team since it shows you really believe in the company and are in it for the upside. It may not actually turn out better but it's a good trade off this early in your career.
Telling someone to push for more (virtually worthless) equity instead of cash is a retarded take
100% disagree. Startups don't pay much in cash anyway. If your mindset is to be conservative, don't work at a startup at all. If the company is a smashing success, every point of equity will be worth lots of $$. I know people who have left millions or tens of millions on the table because they didn't negotiate their equity when they started. If you want to make a comfortable salary, there are plenty of other places to work where the salary will be cushy and the lifestyle better.
Curious what is the company. Can you PM me? Looking for startup roles currently. I am more senior (VP) so not directly competing but also struggling to find a place where I can land without too much losing on comp
Having done banking, MBA, and then startup myself, I would say take it, especially pre-MBA.
From my experience, the biggest difference between startup and banking is responsibility. When I was a junior in banking (analyst, associates, etc), it was hard to feel that I had skin in the game. Of course, I wanted to do well and have a good reputation, but I was still doing just enough for someone above me to be happy vs. thinking what would be the best thing for the business/company as a whole.
If you do want to go to a MBA in a few years, the startup experience would 1) provides you with teamwork / leadership experience that banking might not give you 2) allow you to have different angles for your business school essays 3) figure out more what you want to do in the longer term and spend your time in b school more purposefully.
Yeah I would take it. Less downside than you think, especially given it's early in your career.
Wanna PM me the name of the company? I'm looking for something similar also.
It seems like a wise move; if the startup continues to grow and you do well, the experience, brand, and equity upside could undoubtedly help you position yourself for a top MBA in the future.
If Rogo I may reconsider. Company's long term future in doubt as model developers continue to add financial services capabilities and my friends using Rogo at banks say the product is not good
Can confirm Rogo is actual garbage, AlphaSense been best tool we have tested so far by a mile.
Ever tested that new one, Hebbia?
What’s the issue with Rogo?
Why is Alphasense much better?
What type of role is it? Sales or Strategy and Ops?
sorry stopped using WSO. But yes it's Strategy Ops/Strategic Projects
No worries!
Congrats on the role! Mind me asking what type of startup it is - is it AI? In finance or other?
^bump on role
sorry stopped using WSO. But yes it's Strategy Ops/Strategic Projects
I bet this is Mercor Strategic Project Lead. How has it been so far (assuming you took the offer)?
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