Unconventional Exits from Finance (IB/PE/HF/etc.)

I'd say if you're interested in entrepreneurship, you should definitely go for it. If it doesn't work out, well, great story for business school admissions and you can do whatever you want after MBA.

My question is whether you hate working as an analyst (i.e. bottom of the totem pole) or if you hate finance in general. I can see everyone hating to work as an analyst. But then again I can see everyone hating to work at the bottom at any organization.

You should try and look for start ups in the area, maybe even VC. That could give you some insight on entrepreneurship.

Regardless of whether you hate being an analyst or hate working in finance, you need to start saving money. Cash gives you options; exit strategies are a lot more smooth and graceful with several months of living expenses in the bank and enough money laying around to pay for an MBA or grad school.

venture capital?

Do you have savings, as Illiniprogrammer said? I save between 20-40 % of my income every year, but still, if I wanted to set up a business, I'd have to go home. Living expenses just rack up too much in addition to start-up costs. That said, you've "lived the dream" (according to your screen name) so now it's about doing what YOU want rather than what everyone else wants you to do.

Thanks for the input guys, really appreciate it. I do have a pretty good amount of savings...I live pretty frugally and could probably live for about a year on savings alone.

electriclighto - Finance in general does still interest me, but my experience since starting has really turned me off to the industry. Maybe I will look at start ups/VC to get some experience before trying to go out on my own.

IP - I totally agree with you. Having savings is key.

jtbbdxbnycmad - good call about my screen name....maybe I should change it to peter gibbons or something haha.

Really appreciate any other insight.

Treasury Secretary

New Jersey Governor

Author and husband of former MTV VJ

borat

ODB

Consulting - But you have to have serious interpersonal skills as well.

Maybe he enjoys cleaning or maybe he wanted to be his own boss. Does it really matter if he's in for the money or not? If there were a sudden dearth of cleaning services would you take advantage of that and start your own cleaning "start-up"? Good for him. What I want to really know is why is it on the daily mail?

Didn't know a desk assistant for UBS wealth management is now considered an investment banker

Definitely don’t do anything in Chicago (taxes are absolutely ridiculous). What about bringing a solid franchise from up north down south?

Al's #1 italian beef would be solid, open late for after the bars and not that expensive to get running (not sure if they franchise though).

I know several folks that have left finance to become franchisees. One banking associate and one PE associate. It's not super common, but it does happen. Especially if you've worked on a deal with the franchisor (either on the buy or sell side) and understand the business model and expansion plans. If you're a shrewd business man, you can make a lot of money as a franchisee - the money really starts to roll in once you have a couple locations and can hire managers to run them. There are a whole lot of millionaires you've never heard of that own 20 McD's franchises - it can be a really nice life.

McDonalds is so expensive though to get up the franchising rights, slap it in a poor neighborhood with a solid manager and you're golden.

Tread very lightly with franchises. They are most definitely not for everyone. What makes them tricky is that they fall into one of the few business models where your level of hard work and dedication cannot always overcome adversity. When dealing with a franchise you are dealing with two powerful factors, one psychological, one physical.

1) Psychological Factor-people discriminate on the basis of brand name. Your franchisor will not tell you that (for example) people in Missouri don't trust Jiffy Lube, even if they are well aware of it.

2) Physical Factor-we can even call it legal/logistical, some franchises literally keep you locked into place when it comes to anything from your menu, to location dimensions, to something as ridiculous as minimum number of employees on duty excluding you.

In other words, do your homework and don't believe anyone who tells you that it's a smooth sail. Also, have plenty of reserves on hand. Here's a basic read to get you started .

I would suggest hitting up the SBA for detailed reports on which ever brand you had in mind.

You won't be able to buy one. Most blue-label franchisers require $5mm net worth, ~$1mm liquid just to APPLY for a franchise.

Even with high Chi-town taxes, if you started a Chic-fil-A or Culvers (they are all in the burbs) in the Loop you would make a fucking killing. They advertise for Culvers all over the place (especially at Cubs games) and then you want to eat the food and they are all in the burbs.

I know a guy (on this site in fact) that came up with the idea of starting a church's that would also cash checks from social programs. THAT my friend is a great idea.

If you do a Which Wich or Lenny's, can we have free subs?

I have always wondered if bringing a decent Chi-Town style pizza franchise (not that Uno pizza bullsh*t) like Lou Malnati's down South or out West would be a good idea. Coming from Chicago, I would kill from some good deep dish down here in Richmond, but I wonder if there would be a market for it or if you have to grow up eating it to love it. I definitely agree with chitownanalyst though, Culver's or Chick-Fil-A would make a killing in Lincoln Park/ Wrigley area.

It would be a blast to own a few Ruth's Chris'.

CAPM, I could definitely go in on this with you...how about taking Whataburger up north? Nothing like some late night Honey Butter Chircken Biscuits...

I would have killed for one of those on Friday night at about 4 a.m.... had to settle for pizza rolls from 7/11..

In n out burger.....take it to the east coast or deep south