Is IB really such a bad thing to aspire to?
Ik I'm gonna get a lot of hate (I'm a senior in HS) but this is a genuine question. I've seen countless posts about how finance is dying, IB isn't worth it, just go into tech etc. I really bought into the whole "school doesn't matter A students work for C students" BS and basically never planned to go to college. In HS I founded a moving business and made some good money through it but it was a very unofficial kinda thing (no registration etc.) and I quickly found that my lack of any real business education was an obstacle when I wanted to expand. This made me want to major in Finance or Management and was enough to get me to apply to college. I've since gotten into IU and am pretty excited about it.
IB seems like a great thing to strive for (shoot for the moon land on the stars or whatever the fuck) and seems like it would be amazing experience in the more technical side of business. Would someone like me be better off shooting for a different industry? I see dropping out of college and just trying to found businesses as pretty risky and at least this way if I'm another retard trying to found some new startup at least I'll have some financial knowledge in case it takes off.
P.S Obligatory I have no clue what I'm talking about but this is my general view
Go after whatever you find interesting.
Finance still gives you a gives you a great opportunity to earn great money and learn a tone about business operations. If you have started a business before, my one word of caution is that IB is a very structured place. If you go to a BB shop you will have a very limited role for 5+ years (which probably won't scratch your own builds something itch). I would almost recommend joining a boutique/interning at a boutique to gain some exposure and see if you enjoy it. At the boutique level a little bit of hustle can get you a long way.
I’ve been thinking about this for a while. Everyone seems obsessed with BBs but I’d imagine there’s much more movement at smaller shops.
The thing with boutique market is it is hit or miss. Could have a great shop could have a shitty one.
The complaints are either coping from people who didn’t get an offer OR rich kids who don’t need to make their own money and can go to work at daddy’s firm instead. Ignore them
"didn't get an offer"
- prospect
Couple of thoughts on this:
A) Whatever you think you want to do now will change. I consider myself to be a person who makes their mind up and stays committed to things. Since grade 10/11, I’ve probably changed my mind on what I want to do 6-7 times. The issue is at your current stage is the lack of data points you've seen. There are a ton of industries, niche companies, business functions, etc. that you lack exposure to right now. Any one of these "data points" you haven't seen yet could be the perfect fit for what you want to do. An analogy to this is marrying the first girl you ever date in high school - she might be the perfect girl and you just got lucky... but chances are that of the thousands of girls you'll meet and handful you'll go on dates with, she isn't the best fit.
B) Set yourself up for optionality. I think in general, if you're interested in business / creating a startup, a business program will do wonders for you in terms of exposing you to a broad array of thought processes. On top of that, you will have a network of driven students around you that hopefully continuously expose you to new ideas. If you are actually interested in tech, I'd suggest supplementing your education in business school with learning to code & developing some easy apps on your own. Join startup clubs and just try to keep on top of tech trends. There is always room for well versed business people in the tech world if you understand the tech. Also, there is plenty of time to "strive for IB", but at first you should set yourself up to be a sponge for ideas. Maybe IB ends up being what you pick, maybe something else catches your attention and you decide to move for that instead. Don't be a hardo from day one. The worst thing you can do for yourself is end up in banking, realize you hate it, and then have no other interests or skill sets to pivot out of the industry.
C) If you end up doing banking, keep your exits open. There's a reason why most analysts leave for PE or something else after two years. The hours are grueling and once you start to realize your social life is dying and you no longer have time to binge Netflix, the money starts to become less appealing. My VPs and above pretty much have no life and stay up late banking because they have no hobbies - I couldn't imagine a more boring life. Most people exit to PE thinking it will be better, chances are its between 10% better to 10% worse for lifestyle - its not going to be a massive life changer for lifestyle. If you enter banking, and remain interested in tech, try to aim for a TMT group so you have relevant experience when trying to exit to a startup or VC. Keep in mind money is not everything - it affords you financial freedom but the way you get it matters - it can't buy you your 20s or 30s back. A well balanced job that is intellectually stimulating (aka more than rearranging PPT slides and trying to predict the cash flows of a toilet paper manufacturer) can make you much more happy. Pursue something that keeps you interested.
EDIT: unlike the comment above me alluded to, I'm not at rich kid and I'm at a pretty good bank. The world outside of finance can net you quite a bit of money - IB is not the only path to financial stability. Be well rounded and ready to capitalize on unique opportunities and you'll live an interesting life you're proud of... but that is outcome is predicated on being interested in a variety of areas and industries.
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