Can one really quit finance? I’m changing paths, but finance will always be a part of my life.
I clearly explained this in an interview last week with a neuroscientist i’m going to be working with as a research assistant. She understood and even recommended me to take a 775 level class called “Neuroscience Entrepreneurism.” Of course I had to get a few approvals to take the class, but I think it will be helpful for my path and apps to school. My focus on business/finance after school is hopefully going to consume 50% of my time with a plan of having enough capital to pull the trigger on any deals if I see something good hitting the markets. I don’t think one can really just straight up quit finance. I know I can’t. — Finally, don’t burn bridges. Its good to have people to turn to even if you won’t directly be working with them full time in the future. If you do burn bridges, do it “Half Baked” style so you can at least have a good story to tell.
There used to be two thought experiments I knew to help think of careers, but I only remember the worse of the two. Anyway, what would you want to do if you were invisible? The thing you’d enjoy doing even though no one saw you do it or see what you can buy from it. Life is too short and money is just money. I’d bounce. And I don’t know your city cost of living, but 200 seemed low to me based on what you compared it to
You have access to potential sources of capital? If you do you could do very well getting in front of money and sourcing investment opportunities for them. There are always experienced guys out there on their own who have access to good deals but may not have the capital connections. Exhibit A would be me. I have access to some of the best operators in their little nitch through my old company. We’ve talked about doing deals together if we could find a new source of capital. There are literally thousands of entrepreneurial guys out there with great experience and access to deals, but don’t have the capital lined up.
With all due respect Geo, you know yourself best, but not playing politics is like being in a fist fight with one hand tied behind your back. That’s an internal limitation. It’s like playing in the NBA and only taking 3 pointers and hoping you’re Reggie Miller. Say whatever you want about it but that’s the game, be a player or don’t be in the game.
That said, if you do quit and do your own thing, you *may* never get back to what you used to make, and we both know that is why you haven’t made the leap yet, because you couldn’t live with that scenario.
Makes more sense. I was going to say the junior analysts at my firm (<5 years experience) are pulling close to $200k already, but they work on a hedge fund portfolio.
I do understand that risk. I could live with never hitting this level again, but I couldn’t live with just earning some < six figure comp for an extended period (years). I agree on your politics points, and this is why I’m looking to throw in the towel. I can’t compete in that realm as I refuse to play that game to any great extent. This wasn’t an issue early in my career but it has essentially capped me at this level and likely poses a threat to me even staying at this level.
If I did, I wouldn’t be asking for advice here on how to get rolling on my own outside of the corporate world. I have access to some capita via my network, I could raise enough equity for small business type ventures. But not seven/eight figure type deals.
I decided that a small group of $50-$75k investors was enough to get started. The goal is to just get a good deal closed and worry about scaling later on. I’m banking on the hope that having some experience under your belt is a big enough plus that eventually will get you in front of bigger fish.
Luckily I’m in a space where high leverage is normal, so $300k equity goes a long way.
geo. it’s simple. do what every somewhat educated and middle aged person does when they want to switch careers. become an FA. take two tests. find a book of business and buy it. have no boss and make six figs. easy peasy. worst case scenario is you hire a couple of associates who run the business for you and you take home $100k doing absolutely nothing and you go work somewhere else.
