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Fastlane Investment Banker or Entrepreneur?

100speed

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Jan 2, 2017
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Hi all,
As some of you may know, I am young, and I haven't been on the forum for very long, however I have tried to share some of my millennial knowledge with regards to internet & social media marketing - and have picked up a lot of value from the members of this forum. You know who you are, thanks!
I am now at a point in my life, where I have to decide which path I should take, whether I should aim for the stars in the future or aim towards building something as big as possible from where I am now, where I have few contacts and few scaleable, exciting business ideas.

Primarily, although I see the prospect of being an investment banker as rather prestigious, the only other interest I have in it from my perspective at the moment is the fact that it will be a great way to build up high level contacts within the biggest firms within my country and the USA, allow me to learn to manage my finances more effectively (once I reach high capital flow) - something that could be indispensable in the future - especially with tightening regulation within the EU - another potential career option for me is consultancy, although this is less 'fastlane' as far as 'slowlane' jobs go.
I also do have the academic background to be lucky enough to get in to such a prestigious career - although I appreciate that they do work hard for the money they earn - and I have had to work hard to get as far as I am now.

Looking at the other option, becoming a full time entrepreneur offers a less structured day, however at the moment, although I could scale my current e-commerce business further, it would not be something I see myself doing into the long term due to the fact that it is really repetitive and at times very isolating, perhaps due to where I live - and the fact that it only requires me (and an accountant). The fact that this can also be run alongside a normal day job with relative ease also makes me question whether it is actually required that I become a 'full-time' entrepreneur, why not make money with a business, whilst gaining experience in the world of Finance and a load of contacts that will be helpful in future businesses.

I guess at the end of the day it comes down to whether I want small to medium scale success now, or medium to large scale success when I am older. What do you guys think about it?
Thanks in advance!
 

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MetalGear

Gold Contributor
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Jan 24, 2017
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New York City
Hi all,
As some of you may know, I am young, and I haven't been on the forum for very long, however I have tried to share some of my millennial knowledge with regards to internet & social media marketing - and have picked up a lot of value from the members of this forum. You know who you are, thanks!
I am now at a point in my life, where I have to decide which path I should take, whether I should aim for the stars in the future or aim towards building something as big as possible from where I am now, where I have few contacts and few scaleable, exciting business ideas.

Primarily, although I see the prospect of being an investment banker as rather prestigious, the only other interest I have in it from my perspective at the moment is the fact that it will be a great way to build up high level contacts within the biggest firms within my country and the USA, allow me to learn to manage my finances more effectively (once I reach high capital flow) - something that could be indispensable in the future - especially with tightening regulation within the EU - another potential career option for me is consultancy, although this is less 'fastlane' as far as 'slowlane' jobs go.
I also do have the academic background to be lucky enough to get in to such a prestigious career - although I appreciate that they do work hard for the money they earn - and I have had to work hard to get as far as I am now.

Looking at the other option, becoming a full time entrepreneur offers a less structured day, however at the moment, although I could scale my current e-commerce business further, it would not be something I see myself doing into the long term due to the fact that it is really repetitive and at times very isolating, perhaps due to where I live - and the fact that it only requires me (and an accountant). The fact that this can also be run alongside a normal day job with relative ease also makes me question whether it is actually required that I become a 'full-time' entrepreneur, why not make money with a business, whilst gaining experience in the world of Finance and a load of contacts that will be helpful in future businesses.

I guess at the end of the day it comes down to whether I want small to medium scale success now, or medium to large scale success when I am older. What do you guys think about it?
Thanks in advance!
Investment Banker = no life, they own you, golden handcuffs
Entrepreneur - you create your life, have autonomy, freedom

Usually people work some normal 9-5 while they are getting off of the ground, but don't stay there.
 

Solrac

Bronze Contributor
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Jul 6, 2014
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Florida
From :The Ultimate Cheat Sheet to Starting and Running Your Own Business - Altucher Confidential


3a) Should I go for venture capital money and then quit my job?

No, turns out many successful businesses were started by people who did not quickly quit their jobs.

Starting a business is not about taking risks. It’s 100% about risk mitigation.

Don’t risk your livelihood. Larry Page stayed in graduate school for an entire year or so after he started Google.

Steve Wozniak stayed at Hewlett-Packard because he didn’t want to give up his safe job.

I am not Larry Page or Steve Wozniak, but my first successful business sold for $15 million. I stayed at my full-time job for 18 months before leaving for my business.

By the time I joined my own business full-time, we had about 12 employees and were completely funded out of profits.

That’s when you can start thinking about raising money.

But first friends and family money, then angel investor money, then VC money.

Don’t be an amateur.
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
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Scottsdale, AZ
Hi all,
As some of you may know, I am young, and I haven't been on the forum for very long, however I have tried to share some of my millennial knowledge with regards to internet & social media marketing - and have picked up a lot of value from the members of this forum. You know who you are, thanks!
I am now at a point in my life, where I have to decide which path I should take, whether I should aim for the stars in the future or aim towards building something as big as possible from where I am now, where I have few contacts and few scaleable, exciting business ideas.

Primarily, although I see the prospect of being an investment banker as rather prestigious, the only other interest I have in it from my perspective at the moment is the fact that it will be a great way to build up high level contacts within the biggest firms within my country and the USA, allow me to learn to manage my finances more effectively (once I reach high capital flow) - something that could be indispensable in the future - especially with tightening regulation within the EU - another potential career option for me is consultancy, although this is less 'fastlane' as far as 'slowlane' jobs go.
I also do have the academic background to be lucky enough to get in to such a prestigious career - although I appreciate that they do work hard for the money they earn - and I have had to work hard to get as far as I am now.

Looking at the other option, becoming a full time entrepreneur offers a less structured day, however at the moment, although I could scale my current e-commerce business further, it would not be something I see myself doing into the long term due to the fact that it is really repetitive and at times very isolating, perhaps due to where I live - and the fact that it only requires me (and an accountant). The fact that this can also be run alongside a normal day job with relative ease also makes me question whether it is actually required that I become a 'full-time' entrepreneur, why not make money with a business, whilst gaining experience in the world of Finance and a load of contacts that will be helpful in future businesses.

I guess at the end of the day it comes down to whether I want small to medium scale success now, or medium to large scale success when I am older. What do you guys think about it?
Thanks in advance!
I have no idea what an investment banker actually does. What does their daily schedule look like?

My guess is that it is 100% different than that of an entrepreneur.

I feel like these two choices are like asking if you should become a doctor or or open up a coffee shop.
 

MetalGear

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
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Jan 24, 2017
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New York City
I have no idea what an investment banker actually does. What does their daily schedule look like?

My guess is that it is 100% different than that of an entrepreneur.

I feel like these two choices are like asking if you should become a doctor or or open up a coffee shop.
  1. 80-120 hours per week
  2. burnout rate is high
  3. most don't make it past 4 years
  4. don't recommend it...
 

Sean Corroon

Contributor
Speedway Pass
May 4, 2014
54
57
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Dubai, UAE
From :The Ultimate Cheat Sheet to Starting and Running Your Own Business - Altucher Confidential


3a) Should I go for venture capital money and then quit my job?

No, turns out many successful businesses were started by people who did not quickly quit their jobs.

Starting a business is not about taking risks. It’s 100% about risk mitigation.

Don’t risk your livelihood. Larry Page stayed in graduate school for an entire year or so after he started Google.

Steve Wozniak stayed at Hewlett-Packard because he didn’t want to give up his safe job.

I am not Larry Page or Steve Wozniak, but my first successful business sold for $15 million. I stayed at my full-time job for 18 months before leaving for my business.

By the time I joined my own business full-time, we had about 12 employees and were completely funded out of profits.

That’s when you can start thinking about raising money.

But first friends and family money, then angel investor money, then VC money.

Don’t be an amateur.
What was your business may I ask ?
 

Kid

Bronze Contributor
Speedway Pass
Mar 1, 2016
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Make cash as investment banker and invest it into own business.
 

Solrac

Bronze Contributor
Read Millionaire Fastlane
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Jul 6, 2014
256
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Florida
What was your business may I ask ?
I'm not sure how that adds to the discussion friend...maybe you are misunderstanding?Those aren't my words, I copy pasted from the link at the top of my post.

Either way stating the business is irrelevant too whether OP should be an investment banker or full time entrepreneur.

:D


Sent from my iPhone using Tapatalk
 

Paul Thomas

Bronze Contributor
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Jul 9, 2013
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If you're talking real investment banking M&A at a solid firm you'll likely make solid six figures (close to starting with a 2) for years 1 and 2 out of college (22-23 years old). That money can obviously be extremely helpful start a business.

That being said - if you're at a "real firm", you'll have no life and you're shackled to your phone.
 

Rawr

Gold Contributor
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Aug 12, 2007
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south florida
Do yourself a favor, call up some firms and ask to come 'job shadow' just to see what the actual work is. See if you like making hundreds of calls a day or other things if you're not going to do selling. Depends how in debt you will be after you get out of college. IB is good money, very long hours. I'd honestly ask people in the biz how many of them parlayed their $ to some real assets/$ generating opportunities. And I wouldn't think about stocks as one imo.
 

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Paul Thomas

Bronze Contributor
Speedway Pass
Jul 9, 2013
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335
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Do yourself a favor, call up some firms and ask to come 'job shadow' just to see what the actual work is. See if you like making hundreds of calls a day or other things if you're not going to do selling. Depends how in debt you will be after you get out of college. IB is good money, very long hours. I'd honestly ask people in the biz how many of them parlayed their $ to some real assets/$ generating opportunities. And I wouldn't think about stocks as one imo.
You don't make hundreds of calls as a low level banker, you're doing modeling, pitch books, lots of busy work in regards to managing diligence processes etc. Ibankers advise on the sale of or the fundraising for a Company.

If you're in sales and trading that's where you might make hundreds of calls a day but if you're at a top firm its not a boiler room job.
 

windchaser

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May 24, 2017
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I will start with a disclaimer, my opinion is a little biased as I wouldn't recommend investment banking even to my worst enemy.

Primarily, although I see the prospect of being an investment banker as rather prestigious, the only other interest I have in it from my perspective at the moment is the fact that it will be a great way to build up high level contacts within the biggest firms within my country and the USA, allow me to learn to manage my finances more effectively (once I reach high capital flow) -
If those are your drivers to become an Ibanker I would say don´t do it. There are far better ways to build those connections, as a junior banker, don´t expect a lot of exposure, you are most likely to be 16 hours per day doing calculations in Excel and due diligences, the most connections you will make are your fellow "cell mates" as you will not have time to do anything else or meet anyone else, and beware of them, as many who seem to be your friend, would not hesitate to stab you in the back. You would make better connections joining the local golf club now. I have never been an investment banker but I know plenty (especially former investment bankers, maybe that is why my opinion is skewed) and I have also had a similar role in a big law firm doing similar work and schedule and I tell you the best connections I have, I didn´t make them in the office.

As for learning to manage your finances better, you might have a point but it is like killing a mosquito with a cannon ball. It is true you would learn a lot about company financing and evaluate numerous deals, and I won´t deny the ego bust of participating in multimillion deals, but in my opinion the price to pay for that is too high. I cannot tell you how many people I saw breaking (including myself) and what a miserable lifestyle it is.

it would not be something I see myself doing into the long term due to the fact that it is really repetitive and at times very isolating, perhaps due to where I live - and the fact that it only requires me (and an accountant).
As I said, don´t expect IB to be less repetitive, maybe what you need is a bigger challenge, taking your business to the next level.

At the end it is your life and your decision, maybe investment banking is for you, who knows? but I would recommend you speak with some investment bankers or even better former investment bankers before deciding to go into that path.
 
Last edited:
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100speed

100speed

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Jan 2, 2017
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Bit of a bump to the thread, although I know most of you probs arent interested.
I ended up becoming an investment banker - am doing a year long internship at a very good bank. My plan is to build up some capital to then go onto either pump cash into an area I feel there could be high growth (legal CBD oil etc.) or wait until the UK falls into recession (my guess is 2020 - 2021 alongside the USA) and buy up a load of real estate which I can then rent out to give me a solid income.
I'm currently within General Markets in an IB so not related at all to the running of an actual business however I am considering a wide range of options at the moment.
 

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