Semi-continuation of my previous post here http://www.wallstreetoasis.com/forums/turning-dow… although opportunity has arisen to work in a much better sector team.
High level summary - I have offers/opportunities for 4 different Associate level jobs, each one with some significant pros and cons. I have weighed these up heavily but any completely independent, outside thoughts could be helpful!
Bear in mind this is UK so the focus of sell-side is slightly different (i.e. a lot of 'relationship banking' to win future deals).
Option A - Mid-market investment bank
- Pay: Very good
- Hours: Medium/bad
- People: Unknown as have never worked there. Know a couple of people who are great
- Sector: Coverage group
- Type of work: Primarily equity fundraising, some M&A / specific asset transactions
- Reputation: Very strong in their sector, relatively new as a firm
- Prospects: Could go very well if the bank succeeds or could go quite badly if it doesn't! Will be running transactions solo in 12-18 months, potentially Director level in 3-5 years, head of team in 10 years
- Risks: Possible layoffs if the bank underperforms
Option B - Mid-market advisory firm (current job)
- Pay: Not great
- Hours: Great and very flexible
- People: Fantastic people
- Sector: Generalist / product
- Type of work: Lead advisory on IPOs / listed company M&A
- Reputation: Firm is a global brand, team/service offering is relatively new and working to 'break in'. I don't see them growing much outside of their specific niche. Competing directly (and struggling) against elite boutiques.
- Prospects: Pretty well defined, am currently co-running transactions. VP level in 18-24 months, maybe Director in 5 years, possible Partner track in 10-15? Director level pretty full currently so potential ceiling there. I am very well regarded within the team and first port-of-call for stuff to get done (not being arrogant here, just the current situation)
- Risks: No risk of getting fired, risk is more stagnation
Option C - Mid-market investment bank
- Pay: Very good
- Hours: Medium/bad
- People: Know of several people there, all known to be 'great guys'
- Sector: Coverage group
- Type of work: Mixture of equity fundraising (placings/IPOs), M&A
- Reputation: Highly rated in the mid cap space, sector reputation less well known currently but aggressively pursuing growth
- Prospects: Firm is aggressively growing with good track record, can 'hitch my coattails' to well regarded people. Running transactions solo in 12-18 months, potentially Director level in 3-5 years, head of team in 10 years
- Risks: Possible layoffs if UK mid market gets into trouble
Option D - Mid-market advisory firm (same firm I currently work at)
- Pay: Not great (same as current job)
- Hours: Good / medium - very flexible hours usually but can get very busy around deal crunch time
- People: Know a few people who are great, firm culture generally ensures good people to work with
- Sector: Sector specific product group
- Type of work: 100% private company M&A
- Reputation: Firm is a global brand, M&A offering is well defined in the smaller end of the mid-market, fairly regular deal flow. Will struggle to win bigger deals.
- Prospects: Pretty well defined, will be co-running transactions in 12-18 months. VP level in 18-24 months, maybe Director in 5 years, possible Partner track in 10-15? Currently have no reputation within the team but people in my current team would speak highly of me to them.
- Risks: No risk of getting fired, risk is more stagnation
