What's the best way to transition my career from being a cloud architect (financial services) with a sales focus to becoming a technologist and investor in venture capital/private equity companies? What can be the salary in New York City? L5 NYC 390K
why would you want to move to vc? unless you enter as a partner - i feel like it’s a lot of work for not much return lol
Thanks. What does a lot of work mean? I don't have a problem working 9 hours a day in a place that I enjoys being there, working with people in the tech industry. If I have a solid 10y+ technology experience with 3y+ in the FSI domain what can I expect?
The problem is not the amount of work. But the amount of work vs. what you get out of it. It all depends on the reasons why you want to be a VC. Disclaimer: This is my own experience and it all depends on what level you're playing, why you're doing it, and what you want to get out of it. I have a little context about you. If you are driven by the intellectual challenge and find a fund where you can deeply relate to the people who work there, then it's great. If you want to also make some money along the way it gets more complicated. Unless you have previous investment experience (professionally or as an angel) it's hard to get into a fund at the partner level and participate in the upside of the fund, which anyway is very long-term. If you get in at the Principal level you might get some small carry but it depends on the fund. If you join a big ass fund like Softbank you'd have a decent base salary but probably no carry. If you join a smaller fund you could get some carry but would get a heavy cut to your pay. A friend of mine moved from PE to VC and got a big pay cut (not surprising) even if the fund had already + $1bn in AuM. Now he's doing investment banking as he actually enjoys it and pays more. Back to VC. People often times glamorize it. And some parts of it are in fact really cool. Meeting great entrepreneurs and capital allocators. Building a great network, etc. But many do not talk about the not-so-glamorous side of it: - It's a VERY long-term game, 10+ years. It rewards people being extremely focused on something for a very long period of time - Most of the time it's a lonely job, you spend a lot of time on your own sourcing, taking initial calls, and doing analysesIt's becoming increasingly about your brand. - Everyone now has a podcast, Twitter following, etc. -- it's hard to switch off when you need to compete with these people to get the best deals - It's not as collaborative as people say it is. Other VCs want deals for themselves and they are nice to you but you should not fully trust them :) - Many VCs have no clue what they are talking about and some give terrible advice to startups and think of themselves as super smart - Unless you enter at a senior level, you will be a glorified business developerIf you want to make money, working as a normal employee at a VC is a terrible idea - Unless you work for Accel, Bessemer, Index, and a few other funds most of the dealflow you will see will be uninteresting You oftentimes find yourself living in a bubble. It can be a nice bubble but a bubble nonetheless Make no mistake, there are some INCREDIBLE VCs out there. But they are a very small percentage, think of Chamath Palihapitiya, Fred Wilson, Chris Sacca, and Brad Gersterns among others - but they are a rare breed and most people do not play at their level or even close. All I am trying to say is that the grass is always greener on the other side. If you want to give it a try and see it for yourself go for it! If you're lucky you'll find a place you'll like enough with smart people around you, but be careful. So it's not about the hours you need to put in per se, but the hours you need to put in compared to what you're getting out of it. Once again, it all boils down to the reasons why you're doing it :). Sorry for the long answer.
most vc are scam?
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Have a few million and start a seed fund.
Good way for loosing money 🤑
Hey, you wanted to be a VC 😂🤣