Should I leave IB for this offer?
Long time lurker, first time poster. Hoping to get a sanity check before I accept an offer to leave banking.
- 1st year analyst in coverage group
- Hate banking, and long term would like to be in VC / startup founder
- Title: Chief of Staff (direct report to CEO)
- Company: Series A tech startup that recently raised Series A from top VC fund
- Employees: ~30 (growing to 100 with latest round of funding)
- Location: Remote (Option to be in office)
- Salary: $120,000
- Bonus: "Merit Based"
- Equity: Options vested over 4 years (current value of ~$75k)
- Benefits: Unlimited vacation (mandatory minimum amount used), 6% 401k match, full health, dental, vision, and other small perks
Pros / Cons
- Pro: Get to leave banking and work in an area I'm actually interested in
- Pro: Solid salary (Not planning on living in NY or other high cost of living cities)
- Pro: Equity upside
- Pro: Hopefully better WLB
- Con: Lower total compensation
- Con: Giving up better exits later?
- Con: Bad optics of leaving after a year?
- Con: Uncertainty of startup success
- Con: Limited visibility into bonus / career progression
- Con: Less certain path. What is next?
What else should I be considering? Am I crazy to take this offer? Don't want to be blinded by how bad the past year in banking has been.
Thanks in advance everyone!