quitting investment banking to start own business after 1 analyst year?

I'm sure this is covered ad nauseum, but just wanted to see in general what people thought.

I'm 6 months into my first year analyst stint in IBD, and I haven't particuarly enjoyed it thus far. Don't get me wrong, I've learned a ton, but my true passion doesn't lie in finance. Although it's nice to have a steady paycheck right out of college, I think this is the perfect time, while I don't have any true huge obligations (I graduated from college debt free), to venture out on my own. I am planning to leave after my first year bonus hits the bank.

For someone who has no interest in pursuing a career in finance and is just in it for the initial learning curve / training it provides, what do you all think about foregoing the second year?

 

If you want to start your own business, I'd hang around for the second year bonus to hit your account and then go. You'll have more money, more experience, and in case you ever change your mind you haven't burned a bridge.

I would agree with you, but then we'd both be wrong.
 
rogersterling59:
If you want to start your own business, I'd hang around for the second year bonus to hit your account and then go. You'll have more money, more experience, and in case you ever change your mind you haven't burned a bridge.
This and
NorthSider:
If you have a great idea, there's no reason why you can't start working on it immediately in your spare time.
this.
 

Agree with the sentiment from above. If you have a great idea, there's no reason why you can't start working on it immediately in your spare time.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

Being an entrepreneur has nothing to do with a good idea. Only execution matters. Look at every single successful entrepreneur in history; they basically copied someone else, but executed better. How will you be able to do that?

 

In a similar situation, but instead of starting my own business I would be completely taking over a family business. Current net income is substantially higher than a typical all-in analyst salary (think 2x-3x). Finishing the two years would be ideal, but can't because of timing issues.

 
ctman8:
In a similar situation, but instead of starting my own business I would be completely taking over a family business. Current net income is substantially higher than a typical all-in analyst salary (think 2x-3x). Finishing the two years would be ideal, but can't because of timing issues.

If running the family business is what you want to do and you'll be making 2-3x as much, I don't see what the decision is.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 
NorthSider:
ctman8:
In a similar situation, but instead of starting my own business I would be completely taking over a family business. Current net income is substantially higher than a typical all-in analyst salary (think 2x-3x). Finishing the two years would be ideal, but can't because of timing issues.

If running the family business is what you want to do and you'll be making 2-3x as much, I don't see what the decision is.

Seconded. If that's where you're going anyway, not much to weigh out, yes/no? Is the family business what you want to be doing long term?
Get busy living
 

Modi et et vero quis. Esse quia quos quo culpa. Sed quo commodi quia fugit.

Quaerat ratione ut accusantium dolorem repellat non aut neque. Commodi voluptates aut dolores quaerat minima. Assumenda deserunt in esse est ad.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (199) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
98.9
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”