Question: All would like to get some input from seniors strictly from a financial stance. I transitioned from consulting to FAANG (4 yrs experience post UG) and was having a conversation with an ex-partner this past weekend who was advising me to go to mba school and considering high finance. Strictly speaking from a comp perspective - is it true that the ratio of folks breaking the $1M a year barrier to entering analysts is significantly higher in finance than in high tech?

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(1) those roles will drain you mentally, physically, etc
(2) very few make it to MD+ in IB, even less make it to HF/PE at all (those shops like to see HYP undergrad with H/S MBA, and pre-Bschool PE experience as well as IB. Even fewer make it to VP in PE/HF and get carry (where the real $$ is). Be prepared to have your soul drained out of your ass as well.
(3) VC is a different beast - you’ll need successful startup founder experience, and a fat investment check to reach the investment teams in VC, and you’ll have to negotiate carry. VC is also kind of cooling off right now.

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Exact same boat. It looks fun! But not that fun. Lol

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I’ve been an analyst in IBD, a consultant at MBB, and am now at FAANG. I can anecdotally report that far more of my colleagues make $1MM pa in FAANG with much better WLB than in the other two industries.

Edit: the washout rate in IBD and MBB was nuts - and more concernedly, the attrition was intentional and designed for. Read “Managing the Professional Services Firm” and Google the “Cravath model”.

Edit 2: Re: MBA. I never did an MBA. The opportunity cost is way too high now. I’d be recruiting for jobs where I’d be taking a 30-40%+ paycut and working twice the hours. Just doesn’t make sense.

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What do you think you’d be missing out on?

I understand lifestyle differences, and variables involved of entry and trajectory, but keeping all that aside, strictly asking from $ perspective of the average trajectory of a high performer in these industries.

Comparing product, software engineering and strategy & ops roles in tech with those in high finance (IB/PE/VC/HF)

https://www.bloomberg.com/news/articles/2020-08-05/wall-street-interns-find-creative-ways-to-impress-bosses-on-zoom

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