Family business vs banking
Fellow monkeys,
Friend of mine has a family business, global brand in its niche and significant growth potential (expansion in adjacent markets) around 2-5m EBITDA as an indication of the size.
He is torn apart between the usual 2+2 banking PE and joining the family biz straight out of college.
What are in your experience the pros and cons of this move?
Would a 3/5 years career in IB/ PE help significantly down the line? (Networking, learning how a business is run, large exposure to different sectors/ seasoned professionals)?
I think the networking / learning how to do a business route via IB / PE is a very overrated concept. I would go straight into the family business and consider a MBA down the line to build out that network if needed.
I have two friends who did this. Neither ended up pursing an MBA and have helped their family business grow a few million in EBITDA over the past 5-10 years of working alongside their parents.
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