Permanent contract in US in a local elite boutique vs Off-cycle in Dubai in a Bulge Bracket
Dear all,
I hope you're doing well.
I would like to explain my current situation. I have graduated from a top-tier business school in France and am currently completing my final internship in a leading global M&A boutique. Staying in France does not appeal to me, and I want to move; however, I am aware that the recruitment situation is challenging. Despite this, I have managed to secure three options:
- I have an offer for an off-cycle position at a bulge bracket bank in Dubai. This means that it's essentially an internship, and I'm not guaranteed a full-time conversion. Considering that I have the experience of a first-year analyst (with 18 months of professional experience in finance, including 12 months in M&A), this is somewhat frustrating. However, the lifestyle and net salary equivalent to a European analyst are attractive.
- The second option is a permanent position in New York at an elite boutique firm that is well-regarded in my home country but unknown internationally. Given that I have American citizenship, this could be a good opportunity.
- The third option involves interviews with a top French bank (one out of BNP/CACIB/SG) for a permanent position in New York. However, I am only at the beginning of the recruitment process for this role and it pay less than the second option.
In summary:
- Dubai: A six-month "off-cycle" position at a well-known bank (BB), but perhaps not the best long-term choice.
- Elite boutique: Unknown brand name in the US, but offers a high salary and permanent contract, allowing for quick learning and growth without losing six months.
- Major brand name: New York-based role with a lower salary than the boutique and potentially less recognition in France but internationally could be ok.
I hope this provides a clear picture of my current situation and the options I am considering. Could you please give me some advices ?
Many thanks!
Personally, I can see myself living in Dubai for the vibe - additionally, I am Russian so there is a large community of Russians/Ukrainians, which could make personal life enjoyable. However, New York remains the financial hub and since I love networking, I might be able to more easily find good contacts to join a French fund or something similar
Ah, the classic dilemma of choosing between the allure of a Bulge Bracket in an exotic location versus the stability of a permanent role at an Elite Boutique, not to mention the potential of joining a major French bank in the Big Apple. Here's how I'd break it down:
Dubai Off-Cycle at a Bulge Bracket (BB):
Permanent Position at an Elite Boutique in New York:
Interviewing with a Top French Bank in New York:
Given these options, I'd weigh the importance of brand prestige against the security and learning potential of a permanent role. If the goal is to build a long-term career with stability, the Elite Boutique in New York could be a solid choice. However, if the brand and the potential for a full-time offer post-internship are more critical, then the BB in Dubai might be worth the gamble.
Remember, in the end, it's not just about the name on the door or the location; it's about where you can grow, learn, and be happy. Good luck with your decision!
Sources: Prefer Elite Boutiques or Bulge Brackets?, https://www.wallstreetoasis.com/forum/investment-banking/qa-md-in-ma-and-capital-markets-with-bulge-bracket-and-boutique-experience?customgpt=1, The Case for Elite Boutiques over any Bulge Brackets in 2022, https://www.wallstreetoasis.com/forum/investment-banking/why-go-from-elite-boutique-to-bulge-bracket?customgpt=1, Can't decide between soph internship offers (Equity Research at BB vs IB at a Boutique)
Hi bro,
If your permanent contract in NY doesn't have a good deal flow/recognization in the US, it would be very very very challenging to change for something better especially towards funds even if you have contacts (that won't change anything tbh). I think you don't know how competitive is the market in NY. You only option to have something good with this option would be to come back to France but it is not your plan.
Hello,
Thank you for your response bro! That's what I'm thinking too. If it's a bank like BNP Paribas, does it make sense or is it the same thing and will it be very complicated to get something better later in New York? If you were in my place, would you take a BB in Dubai? (considering that I am more interested in the lifestyle there)
Thanks
BNP is near bottom tier for the bigger banks. Not worth it if you get BB in Dubai imo. Unless you plan to lateral from BNP to somewhere else after
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