Exit opps from Tech IB, VC vs Tech vs PE
I am an incoming analyst at Evercore/Lazard Tech. Long term I'm looking into climbing the ladder at big tech (perhaps on the product side, but still exploring options).
Coming from a tech banking background, what exit opportunities are generally available on the corporate side? I'm sure there will be VC/GE opportunities and headhunters out there, but do bankers going into tech typically exit into corp strat and corp dev exclusively? Will bankers ever exit into APM or biz ops roles?
If looking to climb the ladder at big tech, is it best to make the jump to tech immediately following my banking years, or should I look to exit into PE/VC first and then make another move a few years down the line? Any help would be really appreciated.
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Go straight to tech - start ups can be surprisingly flexible if beg tech wont take you straight away
Full disclosure, my background is 100% tech POV with no IB or investment experience. The most common path I've seen people take to get into some of the top tech startup/late stage venture companies have been - IB to VC or IB to PE to MBA to product marketing manager, besides the most common exit of IB to a corp dev role in tech. If you want to go into a PM role, I suggest skipping PE and going straight to tech or going in from MBA. The skills and work you are doing in those roles is not as applicable. The only difference here is if you go and work at a early stage VC firm. Given they invest in early stage companies, you will get more exposure and hands on experience working with the portco which will make it an easier transition to your ideal role within tech. Plus many of these early stage VCs place their own people into roles. Bottom line, make the move into tech as soon as you can. If you want to take a longer road, go IB to VC to tech or IB to MBA to tech as, again this is just from what I've seen, going to PE would be a more difficult transition without getting an MBA.
Definitely, seems like the work in VC/GE just isn't as transferable and not as applicable to this career path. Really appreciate your help.
following. does lateraling from a strong boutique/MM (but not an evercore lazard type) to a better firm leave a stamp on your resume that hurts your chances with VC
If your long-term goal is to go work for a company post-IB, then it does not make sense to go to a VC / GE / PE. The earlier you can start at an emerging late stage venture company the better because your equity will vest and you will most certainly stand-out relative to your peers given your prior IB background (more polished, generally more hard working, usually look at things from the mountain top vs. the valley, etc.). Roles I would consider at a tech company are corporate development, business operations, growth & partnerships, FP&A, or Chief of Staff.
If you are a top-performer at any of these roles, you likely can be promoted to a manager position in 1 - 2 years, then a senior manager and maybe even Director level in 3 - 6 years (depending on the size of company). If you were to go from IB --> PE / VC and then come back to the operations side, the highest role people will hire you for is the manager level.
what is comp and responsibility at director level?
Obviously varies, but I'll speak to the companies that I generally invest in (i.e., Series C - E software businesses; $15 - $50M ARR in scale). Most directors have typically 8+ years experience, but the best can get there far faster if they actually came in early in the business. Director-level is fairly senior and will generally report to a Vice President (who is right beneath C-suite). Directors usually manage teams, set strategy within a specific business unit, work cross-functionally with other teams, help with hire planning, etc.
Again, comp varies, but these days cash comp is generally $200k+ and equity (can range between 0.5 - 1.5% equity - depending on stage of business).
How does one go about finding a tech start-up to join?
If you can't google what start ups are notable or have recently raised capital....maybe being at a startup is not the right fit for you my guy.
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