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?
Usually between year 1 and 1.5 everyone starts talking about becoming an entrepreneur, if you have a great idea then why not start the main leg work while having income or at minimum finding a decent corporate m&a gig while working on your idea?
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.
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.
You want some freedom.
Don't think that owning your own business will give you that, you'll be more married to that than you are banking.
Think it over...
Umm... how did you get in....if you have 'no interest in a career in finance'? Genuinely curious.
I second what WFOinsider says too.
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.
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.
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