放弃私募股权
I have now spent 3-4 years at a topBBfollowed by 2 years at a upper毫米私人产权fund. Making about $500k all-on cash comp and just starting to get carry. Likely going to give that up to do business school (interview withHBS并等待听到GSB的回音）。商学院毕业后，我想做一些更具创业的事情（要么创立初创企业或某种形式的财务汇总 /搜索）。现在有太多的资金，感觉相对容易获得资金。
我为放弃自己努力工作的立场而疯狂吗？我只是不想把它磨碎PEpartner but rather do something for myself. In short I feel like a 5% chance of making it big outweighs the 60% chance of successfully grinding it out toPEpartner (and being very well of but not crazy well-off).
有人处于类似位置吗？
评论 （26)
我想您回答了自己的问题人，您不需要任何人的许可，只需去做吧
同一条船在这里
听起来像是沉没成本谬误的经典案例。如果您看不到自己成为一个PEpartner, and would find more satisfaction doing something entrepreneurial, then no you are not "crazy" to give up your position. Besides, all of those years are not wasted - I'm sure you have quite the rolodex and toolkit.
IMO it sounds like the real question is how risk adverse you are. If you don't have the balls to pull the trigger then there's no point debating - sorry for being blunt.
It is indeed sunk cost fallacy! While I felt like have learnt a lot I still feel like a lot of my skills would go to waste, as well as a pretty cushy fixed salary/bonus. I am quite risk taking I would say so I am leaning towards just going for it (have savings + backing from friends/family as needed)
Currently an incoming analyst at a topBB在TMTand am已经在考虑您现在与之相同的一些问题。我本质上是非常企业家的，并且知道我想开始围绕MBA等级。我想问，你觉得PEexperience helps in terms of entrepreneurship and/or operations/strategy?
我收到的建议是，如果我知道我想进行企业家精神，我应该在分析师任职后查看初创公司的运营/策略角色IB。Or at least GE. Any advice?
我个人发现PEvery helpful to develop a broad skillset both operationally, financially and from a general leadership experience by interacting directly with successful management teams. If I could do it all over again I would consider growth equity as it is typically not as sweaty as large cap buyout and you get to work with companies that are earlier in the development stage (hence closer to what you are likely to start if you pursue entrepreneurship)
Can you highlight some of the operational skills that you learned in PE? I might be potentially trying to help a friend get a small business off the ground and would love any insight.
"There is just so much capital out there right now and feels relatively easy to secure funding."
所以？这还不够具体。您将如何受益？您是否有计划或商业想法可以工作？另外，请意识到宏观级别的商业环境将在2年以上的时间内以99％的确定性改变，而您将离开商学院。我并不是说企业家精神是一个坏主意，或者这是您不应该追求的事情。我的意思是“有很多资本”不是一个经过深思熟虑的计划。只是要达到级别的期望，如果您走这条路线，您将不会在很多年中全力以赴。
公平的评论。我确实有几个想法，有成功的机会。我同意您的收入观点，但这是该线程的全部要点。归结为这样的事实，我宁愿有很小的机会使它变得庞大并在我的生活中做一些有意义的事情，而不是在金融服务中浪费它manbetx 2.0下载
What is business school for if you're just going to do entrepreneurship after? Why not use that tuition $ on the business instead and start now (plus 2 years sooner in good capital market, who knows where we'll be in 2+ years).
My thinking is that I can broaden my network, have time to develop my ideas, and get a bit of a break from an intense job with something that still looks good on my resume (assuming I get into H/S)
Talk about a first world problem lol, you lucky b*stard.
What a lot of people don't ask themselves is why doesn't my boss or boss's boss at saidMF推出自己的基金?答案是,因为the nature of that seat is that you can personally put BILLIONS of dollars to work… that spins off a ton of wealth creation. Run the monkey math on how many search fund investments you'll need to do, returns outcomes, and how much capital you'll need to be able to raise, how much of an organization you'll need to scale about around it (and resulting dilution of economics) in order to generate the same wealth creation. Don't forget investor meetings increasingly taking up your time instead of actually assessing/making investments.
The reason to set out on your own instead of cashing in on the golden ticket that isMFPEis one or more of the following: (1) you don't believe in the long-term durability of the strategy AND think/know you have a better approach; (2) you want to have the entrepreneurial experience (cuts both ways, someone needs to order furniture, and manage payroll, and capital calls, etc).
The fact of the matter is as a start-up you'll probably never scale to be able to personally deploy as much capital as you can out of aMF。不仅这样MFPE。
除非您认为自己的优势或行业的发展方向是您最好从头开始。
Before you do anything, do the math on how much capital you can realistically raise today, what the return profile will realistically be, how much wealth that creates for you (AND your team)… then compare that to a successfulMF职业轨道。
Although not totally off, disagree for several reasons.
1. There's also the job satisfaction component that might be higher in trying yourself.
2. Going from 2 years intoPE在合作伙伴座位上产生世代相传的财富很远。这意味着资金继续执行，攀登政治阶梯，运气，当您处于交易成为“您”交易的位置时，市场是正确的（2006/2007年有许多聪明的人现在已经30岁了由于“他们”的往绩不佳）。从这些职位中产生真正的财富可能需要15年，因为您直到30年代初到中间才进入“高级”席多年以实现它。如果您跌倒了，回报率很低...
3. You can generate real economics by finding a good idea and executing it on your own. Thereare由于能够以较小的规模创造实际价值，因此一群30岁的年轻人在今天筹集了吸引人的HNW资金（20-50m范围），而不是20％。如果您要购买妈妈和流行音乐，那么真正被低估了，并在25mm的5年内浏览了业务，并在5年内生产3倍，那就是20毫米。并不是说这很容易，但我认为您高估了只能骑行的能力PE席位成为高级合伙人。
OP, I don't think you're wrong, but I would be more specific about the path, investment criteria, business plan, etc. before making a decision
Oh, so all you have to do is raise $25m four year out of school? Convince your LPs to pay you 40% carry. Compete with established at-scale lower middle marketPE公司购买一家大量银行的TEV资产。三年来您的钱三倍……这一切都与一支聪明而有能力的团队一起工作，该团队在26岁的工作中工作，而没有任何有意义地参与上升空间的人？为什么我现在才听到这个消息。
正如我在上面说的那样，勾勒出一个reasonablescenario with a healthy dose of prudent conservatism. If you can sketch out a pretty muted and conservative case and it looksvery引人注目的是，这通常是一个不错的选择。如果您需要有一个6场比赛的赌注才能走……您就是在做典型的WSOmath.
My rough math back in the day was that if I could raise $5m (no easy feat unless you have real family money) and hit 2-3x returns… the first few funds are just to get a track record and get to critical mass. If those 2-3 funds (10-15 years) were consistently strong, then the 3rd or 4th fund would be where the real money kicks in. And it was about what you'd make as a partner inMFPE。
人们非常聪明，经济动物，市场非常有效。如果创造自己的基金创造财富比一个要比MF路径……您会看到更多的人在这样做。体面（但不是摇滚明星）MFpartner can probably launch with $500m. That's real scale. And yet they don't… I guess they're just lazy and uninspired.
5.声望与责任
我大学毕业了几年，我正在和一位完成他的亲密导师交谈MBAa year before. He told me something that always stuck with me: "of the people I graduated with, a year later the happiest ones solved for responsibility at the expense of prestige, and the unhappiest did the exact opposite". I honestly didn't understand it but now I very much do. Rarely can you have both prestige and responsibility early in your career, in fact I've found them to be quite inversely correlated. It takes confidence to forgo prestige but it can be so worthwhile when you do.
完全同意。这正是我的career path led me, albeit more by fate than my own personal doing, but I wouldn't have it any other way. I'm not bringing in $500k a year like most on this forum, but I just broke into my thirties and I've been VP, Finance for twoPE现在PC。PEsponsors had me take over for the Co-Founder/CFO in the first play and replaced a short-termed CFO on the current gig. So far both of the deals have been relatively small, Military -> Non-target Liberal Arts College (BBA Finance, BBA Accounting, MBA) Public Accounting -> Industry (Controller, O&G) -> VP, Finance for PC
如果您每年不满意50万美元，您每年都不会满意
解释？
I'm in a similar boat except I'm a 2nd yearIBanalyst. I have an idea for a consumer tech company that I think i should quit & launch. I realize this sounds crazy, but I have a background in both coding & finance so I know the potential is there. A coupleVCS表现出兴趣，但我不能挥舞奖学金 +IBanalyst workload at the same time.
成为独立的赞助商，做到这一点。你能行的！
2年后，您在50万美元的全in上工作，哪些基金（可比名称也起作用）？
He did 4 years in banking, so probably came in at a Senior Associate level.
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