Seeking advice: IBD or family office?

That'sMyQuant's picture
Rank: Monkey | banana points 36

Seeking advice into current situation. I'm from a non target, still junior analyst level, was working in a middle market IBD in NYC. I am currently looking at two routes, either entering another IBD role with the communications team (i.e. RBC, BNP) or joining a family office.
I'm unsure of what my career goal is, but I want to go to business school eventually and get to Silicon Valley.

The family office is relatively small, roughly $100mm (although family net worth is in the B's), and they're looking to bring on an analyst to help build out their venture/growth equity platform. The work at the FO will be slow, working directly with the CIO (small team). In terms of going to B school, the father is a hedge fund titan and connected at many elite schools, and he is known to write positive letters of rec - downside, is the upward mobility here is low and the role is temporary with only a short to medium term need. Unsure of what FO pay will be, I assume it will be competitive to whatever street average is.

I guess the question is given the above info, which gives the greatest opportunity to make it into Tech/telecom VC / b school?
Any thoughts here on which to pursue?

Comments (4)

Jan 8, 2019

Hi That'sMyQuant, any of these threads helpful:

  • Escaping the Back Office- Seeking guidance to successfully escape the BO and migrate into a FO role in IBD. **TLDR Background: ** 2018 ... analyst role at a regional bank (US Bank/Pacwest/CFG/BNY), seeking a path to IB. My story: I come from an ... investment clubs, and generally immersed myself in everything "finance related" that I could. ...
  • Family Office investor database Hello fellow chimps- After seeing the other thread on WSO for interest in family office lists, ... I've compiled a number of family office databases which I'm willing to offer to those in need of ... to raise capital for a fund or begin networking with family offices contacts, then I'm happy to ...
  • Family Office Analyst Seeking Career Advice instead...wasn't easy but landed a role at a small multi-family office. I'm the only analyst on the team, ... experience growth, whether I'm learning enough etc. Have considered other options (larger family office ... be great. Thanks! asset managament multi-family office 1st job; career ...
  • Would you work for a family office? but not much of a track record of exits yet. (ii) Family office of successful investor/entrepreneur. ... #2. Family office to Tuesday, October 31, 2017- 1:55pm ... ongoing--no offer yet. Would like to hear some thoughts on the relative merits of these options, especially on ...
  • LA & SoCal Developers/Family Offices Hines/Related type guys but looking for smaller prominent companies Thanks! ...
  • Family Office Database list Hello fellow chimps- After seeing the other thread on WSO for interest in family office lists, ... I've compiled a number of family office databases which I'm willing to offer to those in need of ... raise capital for a fund or begin networking with family offices contacts, then I'm happy to send ...
  • FT Advice: PE at Family Office or IBD interviews?? Instead I worked for a v. large family office, in the PE division. The summer has been great and I have ... So I already posted this over in ibd but it wasn't getting much traction, and I think people ... about pursuing it as a career. If I want to be best prepared, should I try to land a BB IBD job for next ...
  • More suggestions...

Fingers crossed that one of those helps you.

Jan 14, 2019

Bump

Most Helpful
Jan 15, 2019

Good god go for the IB role. No question about it.

  • You're not going to be able to add a ton of value to a principal investing role with the very little experience you have at this stage. So you'll probably end up doing a lot of administrative work, which will put you on a very bad path for business school / post-business school
  • By your own account the job is temporary. So then what? Some %age of the people you're pitching yourself to for your next role are not going to believe that the job was always intended to be temporary, or they'll assume that if you knowingly took a temporary role it was your best option
  • On the same theme: Finish your analyst years, somewhere, anywhere. Lateraling between A1 and A2 is totally fine, and makes you look in demand. Leaving early (unless it's for an obvious upgrade, which a new and smallish FO is not) makes you look like a washout
  • As you may have gathered from reading other threads, a fairly common route to business school is 2-3 years as an analyst, followed by 1-3 years of something else. So go work at this or another FO after IB / before business school. It will be easier to get that job than it will a PE or HF job
  • Stay in touch with the FO and tell them you weren't comfortable with your ability to add sufficient value at this stage
  • Not necessarily relevant but just as an aside, RBC and BNP are not in the same category, at least not in the US. RBC way stronger (and I've never worked there)
Jan 14, 2019
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