Boutique I-Bank v. Boutique PE v. Business Valuation Firm
Advice?
I'm a third year at a target trying to figure out what to do this semester. I will be applying to IBD SA positions in 2009. I know you typically want to work at a boutique bank, but I think I will get more modeling experience at a valuation firm than a bank. Any help is appreciated.
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as long
as long as you realize that doing banking is much easier to transfer to a banking internship than a business valuation internship.
but if you're at a target, then what does it matter one way or the other. you'll probably get the interviews you want.
if you want more modeling experience, you're not really going to get much as a summer analyst. i would say that you'd be spreading comps, but firms nowadays have a capiq plugin that does it for you..
but at the end of the day, business valuation guys don't really do deals. bankers do.
so i find the deals more interesting (going to meetings with senior bankers, meeting with clients, and other bankers/professionals) than dcf/lbo modeling or the goodwill impairment, real estate appraisal that b.val firms tend to do.
do not go to a business
do not go to a business valuation firm if you want to get into banking and have the opportunity to work at any IB, whether it be a BB, a boutique, or a no-name firm. any banking experience will get you in the door over valuation firm experience.
Hm
as long as you realize that doing banking is much easier to transfer to a banking internship than a business valuation internship.
but if you're at a target, then what does it matter one way or the other. you'll probably get the interviews you want.
if you want more modeling experience, you're not really going to get much as a summer analyst. i would say that you'd be spreading comps, but firms nowadays have a capiq plugin that does it for you..
but at the end of the day, business valuation guys don't really do deals. bankers do.
so i find the deals more interesting (going to meetings with senior bankers, meeting with clients, and other bankers/professionals) than dcf/lbo modeling or the goodwill impairment, real estate appraisal that b.val firms tend to do.
do not go to a business valuation firm if you want to get into banking and have the opportunity to work at any IB, whether it be a BB, a boutique, or a no-name firm. any banking experience will get you in the door over valuation firm experience.
I was under the impression that modeling experience is the most important thing. What if I don't get any modeling experience at a boutique IB (specifically Financial Technology Partners) and do primarily research? Should I still choose FTP over a company where I would get experience in modeling?
How does a boutique PE firm compare?
well
I was under the impression that modeling experience is the most important thing. What if I don't get any modeling experience at a boutique IB (specifically Financial Technology Partners) and do primarily research? Should I still choose FTP over a company where I would get experience in modeling?
How does a boutique PE firm compare?
Deals are more important. As a 2009 Summer Analyst, you will not be doing much modeling. You will be running comps, editing books, which is what analysts do most of the time. As an intern, that is pretty much the responsibility you will receive during your 10 weeks. Your interviews will favor deals more than a business valuation project.
All that matters is how you can spin your experience into banking. Since business valuation has skill sets that you can transfer into banking, theres nothing wrong with it.
As for the PE internship, I would say to take that over the boutique depending on the what the PE shop does. Is it a cold calling shop thats going to have you calling dozens of companies a day leaving voicemails or is it a firm that will actually let you go to meetings, do research, look through business plans, maybe some modeling. Make sure you get that clear before signing up with them.
Also, don't forget about the connections that the senior bankers at the boutique bank may have that can help you out during the summer recruiting season.