Boutique banking in mid market
Hey everybody,
I am expecting to receive an offer from a boutique investment bank in ATL. Right now, I have a non-IB job that affords me the ability to work 50-60 hour weeks and make decent money and enjoy hobbies throughout the week. I receive a lot of vacation time and flexibility as well with my schedule.
I anticipate making quite a bit more than I am now but my question is what type of work life balance can I expect? Will every week be busy? If so, how busy (hours?)? What type of personalities can i expect to work with? Is it typically a good environment that everyone thrives in or does it resemble a fraterntiy hazing type situation? (Obviously, an exaggeration but interested to hear people's thoughts on the mental aspect). Keep in mind that I am an experienced professional so I am not fresh out of college with youth on my side. I am late 20s wondering if this sacrifice is truly worth it.
I have read all of the forums stating how intense and pressure filled IB is. I just want to know how different it may be at a boutique in a smaller non NYC market. Also, for example, if I were to have obligations on a weekend (ex. wedding) will I be able to attend?
Lastly, can someone speak to the exit opportunities from a boutique IB in a mid market city. Are there plenty and are they worth the possible pain and suffering involved during the 2 year period?
Biggsy
Bump
Many people on here and many posts on here are from NY where banking is tougher, larger, and more demanding than anywhere else in the world. Many places outside of NY have a slightly more relaxed culture, less hours, less deal flow, and usually less in terms of pay. That's not to say that banking outside of NY is soft, cushy, or easy; it certainly isn't.
I don't know what the IB culture at your boutique is nor do I know what the culture is like in Atlanta, so I can't speak specifically to your case; however, you may only find yourself working 60-80 hours a week.
Just as a reminder, every boutique is different, some have analysts routinely work over 100 hours a week and others have analysts work about 60 hours a week, it all depends on deal flow and culture.
Culture from boutique to boutique in a second tier market can vary significantly so it depends more on the firm than the market. I worked for a boutique IB in a second tier market, and our analysts had it pretty good. They generally worked from 8 to ~6, sometimes a little extra in the evening from home and the occasional weekend, probably 55-60 hours on average. They were paid slightly below BB market rate, in a place with way lower cost of living. Another well respected boutique in town paid their analysts substantially less and worked them much harder with NY BB hours.
I'd just ask the analysts from the firm where you have an offer directly about what their experience is like. Take one or two for a coffee, and see what they have to say.
Thanks for the reply.
Any advice on what would be the appropriate way to make contact with other analysts? Also, when interviewing is it ever ok to ask about work life balance? I never want to give the impression that I will not be willing to put in the hours.
Also, what were your opportunities once you finished your stint with the boutique IB? Are you glad that you took that route?
Currently working for a small IB shop in Atlanta. In the past I worked at a big shop (Think JP, MS, GS). Its totally different in the South. PM me and I could explain more.
Thanks for the replies guys. Bump for more insight.
What in particular would you like to know. Hopefully I can help, if not, sorry for wasting your time.
Maybe you can tell me what a normal day for you would be like? Do you ever have easy weeks where you work like a normal human being or is every single week 70-80 hours?
I would like to get a better understanding of life as an investment banker in ATL.
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