I've just finished university and I'll be starting off at a well regarded boutique next month. I also had an offer to start at a Big 4 CF (discussed in previous threads) but ultimately have decided to go with the boutique, as I will be given lots more deal exposure and responsibility.
Lately, I've been thinking of where my career will lead me in the years to come. I don't think I want to go into PE as an exit, and I certainly don't want to spend my life working underneath someone else. I've been toying with the idea of starting up my own corporate advisory/1 man boutique way down the track. I find M&A fascinating and I think I can make a career out of it. I'm also interested in investing so I wouldn't mind being something like a merchant banker (apologies if that's the incorrect terminology) where I provide advisory services in addition to investing in opportunities.
I know I'm way ahead of myself (dream big, right?) but when would be the appropriate time to go solo and start up my own shop? Is there an unspoken rule as to timing, such as being in the industry 15+ years before doing such a thing? I've noticed it's a common practice in my part of the world to be a corporate adviser and investor, so I definitely see myself doing it. Question is, what would be the necessary prerequisites?
Thanks for the input guys.
Bump
When you feel that your relationships with clients/investors are your own and not your firm's, i.e. would they follow you out the door and support your new business.
I wouldn't say there is a no hard and fast rule to xx number of years before you start your own thing. It's really more dependent on how quickly you're able to learn all the skills and acumen necessary to not only do it on your own, but convince others you're the right person for the job.
15 years comes out as a typically exit point since said person has climbed the ladder to the maximum of their ability (VP not being promoted to MD, MD not making Partner or Head of Group, etc.) and have felt they have plateaued in their career.
Being an advisor and and investor is even more challenging and of course requires a new skill set to be successful at both. Rather than worry about the prerequisites now, focus on just being good at the job you have now. In time it will come to you and you won't have to worry about checking the boxes.
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