BB internship vs. Boutique full-time

Hi Guys,

Wondering about your opinions: should I choose a bulge bracket internship or a full-time (permanent) position of a top 20 boutique? Positions are IBD, M&A advisory. Final goal would be PE.

Thanks

 
Best Response

"Top-20 boutique" is an oxymoron. "Boutique" is how you sanitize "upstart" or "lower-middle market" in banking parlance. There may be worthwhile exceptions to be made for what is actually a boutique by the more standard definition - i.e., a specialist practice (Qatalyst and Leerink Swann come to mind). But a small firm serving local business in Nashville isn't be in the top 20 of anything that people bother to rank.. not to say that they don't do good work or make good money, because I'm sure some do.

Otherwise, you're either referring to a true "elite" independent M&A advisory firm (e.g. Evercore), or a strong middle-market firm (e.g. William Blair).

"There are three ways to make a living in this business: be first, be smarter, or cheat."
 
BTbanker:
^ Also, Moelis, Perella Weinberg, Baird, Harris Williams, Oppenheimer, Edgeview, and Houlihan Lokey.

These names are not in the current Mergermarket Top-20 North American M&A Advisers (Value) league tables. OP specifically referenced that source.

And if you're talking about top or elite boutiques, I would cut all but Perella Weinberg from your list. The others are top middle-market firms. If we're splitting hairs, that is. All are strong firms.

"There are three ways to make a living in this business: be first, be smarter, or cheat."
 
Sandhurst:
BTbanker:
^ Also, Moelis, Perella Weinberg, Baird, Harris Williams, Oppenheimer, Edgeview, and Houlihan Lokey.

These names are not in the current Mergermarket Top-20 North American M&A Advisers (Value) league tables. OP specifically referenced that source.

And if you're talking about top or elite boutiques, I would cut all but Perella Weinberg from your list. The others are top middle-market firms. If we're splitting hairs, that is. All are strong firms.

lol, I honestly can't tell the difference.
 

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