Does anyone else here feel like breaking into certain "prestigious" firms/positions is WAY easier than people on WSO make it out to be?
A couple of fallacies I hear repeated non-stop on here (mostly by Interns/Analysts)
- You can't do PE at a solid shop without working for a BB/EB or top tier UMM
- You can't lateral between different industry groups past the analyst level
- It's too late to do PE once you hit Associate/VP
- Boutique IBs have zero exit opps
In my experience and that of people I know in real life, none of these things are true. Specifically, my first gig out of UG was at a totally horrible boutique bank in New York. The firm eventually dissolved completely but of the four VP and below level employees, all of them exited to great places. I chose a chill MM bank because I'm a big lifestyle guy, our Senior Associate (who was a "star") ended up at a decently well-known PE fund, the VP went to the IB group of a Truist/HSBC/Regions type of bank and got a promotion to Director, and the other Analyst ended up at a Moelis/Greenhill semi-EB type bank. (Please don't be the guy that misses the fucking point and just comments to argue about whether or not Moelis or Greenhill are EBs)
Anyways, I've just seen a ridiculous amount of posts from junior bankers acting like anyone past the level of Analyst and/or anyone not at a BB/MF bank has absolutely no exit opps and it's simply ridiculous. Certain exit opps might not just fall into your lap like they do for dudes at Goldman/Morgan Stanley's M&A group, but with any amount of initiative there is an INSANE amount of career mobility in this industry.
The vast majority of those arguing about exit opps and true flexibility based on a certain role are people not in that position (e.g, M&A Interns and Uncertified M&A A1s). People who have been around the block and have 2-4 years of FTE will be able to much more accurately explain exit ops. Also, as you get older, you are able to quickly discount feedback based on just blatant inaccuracies (e.g., the EB or BB requirement to enter a solid PE shop, this is absolutely not true. Same for needing to work at a top IB / Consulting firm to get into an M7, again I have about a 100 data points claiming the exact opposite).
In summation, you have a lot of folks on here with 0-2 years FTE spreading misinformation that they have gone on believing for the past four years, and it has probably heavily impacted their decision making at one more points.
Similar to the boutique you interned at, I have seen some insane exits from jobs that 75% of this user base would turn their nose up at. Then again, the economy has been booming and there have been more high quality (PE / VC / Consulting / IB) positions available than in the past. However, this trend has gone on for multiple years now.
+SB - very well said. I wish more people would take the time to become a certified user so we can see who's for real and who isn't. It's really not a difficult process to be certified if you're a legit professional working in the industry.
I think they're largely speaking in generalities, but it is frustrating to repeatedly hear people with 0 or <1 year of full time experience talk like that.
The lack of imagination is unfortunate, but still worth it for the high-comedy/drama that this site produces. Some recent favs have been the kid asking if it's okay to drive his mclaren as a first year or any of the dating/advice posts. Popcorn worthy!
Oh 100%, I love this website and spend way too much time on it. I just get annoyed with some of the young kids when they opine on things they don't know about. Wish their was an "adults only" section for certified users above the rank of Analyst, for serious topics.
"Oh 100%, I love this website and spend way too much time on it. I just get annoyed with some of the young kids when they opine on things they don't know about. Wish their was an "adults only" section for certified users above the rank of Analyst, for serious topics."
dudes be like "I wish there was an adult only section"
>misspells the word "there" as "their" despite being 4+ years out of college
"for certified users above the rank of Analyst"
>is an uncertified user above the rank of analyst himself
my brother in Christ, you are literally part of the problem you described
Do you understand the difference between a spelling error in a casual, opinion-based comment versus stating incorrect information in a serious discussion where someone is asking for advice to take action on?
are you a bot? you're not verified
Moelis and Greenhill are not EB's you fucking retard
Lol
All you have to do is go to a public school in Indiana, say you are 1/16th black, and then you get into prestigious banks. Light work
Or you can fake a gay accent. That sure will get you into THE IBW.
Really? Many of the responses on here are people trolling to have a laugh or from young kids? No?!
If you don't come out of the womb with at least 3 stock pitches, it's already over
Yea, I have seen some people at "lower tier" middle market banks exit to MFs. Have seen people with ER backgrounds enter into PE. The world isn't as linear as allot of people on this site would think
Gonna add that too BBs for markets aren’t hard to grab up either, at least in London.
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