Venture Capital vs Corporate Banking
Well the title says it all. I would like to understand what would you choose and why.
To give a bit of perspective, I am right out of my masters program with offers I have to choose from. I know most of it depends upon where I see myself long term and what my goals are.
However I'm not as clear with my long term goals as I'd like to be. Hence, I wanted to know what would you choose and what would be be the considerations that you'll take into account. A bit more on the offers;
CB: in a BB where the Cb team is grouped together with IB. Lateraling to IB is not usual but a good bunch of people do it every year. Probably the easiest, compared to other BBs
VC: First time fund. They used to be a small part of a LMM PE fund in the US before and now they got spun off. The team now has one partner in the US and one in Europe. However not finalized on the offer terms yet, I can see that this role would pay considerably less than the BB., however there is a possibility of a carry even as a junior. Also the first fund is only 200MM, however they are on track to raise their second fund of 350MM, later this year. Also on a side note, what kind of pay should I expect both in Europe and in the US for a firm this size?
I would personally take the CB one and try to lateral to IB, but that's just me. I'm somewhat risk averse.
If they raised their first fund already and are raising their second, a huge amount of risk is already gone. Honestly you could probably go either way depending on preference. I think you would learn more and enjoy the work more at a VC fund if you enjoy intellectual stimulation. If you prefer a solid paycheck with low risk and slightly less hours than traditional IB, corporate banking could work. Others may disagree, but I think a VC fund would set your career up better long term because you can more easily move into other buyside jobs. From corporate banking you probably won't get hired on the buyside except at a direct lending group MAYBE. If that is something you are interested in. By the time you switch from corporate banking to IB, you'd probably end up sticking around as an associate, after which transition becomes pretty tough and you'd end up doing banking for life potentially unless you made a hard pivot with a pay cute mid career. That being said I have a friend that went to a solid PE opportunity from corporate banking so you never know.
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