elite boutique advice?
Hey WSO,
Is there anybody currently working at an e-boutique who wouldn't mind schooling me on the differences in approaching these firms vs. bb's? From all the people I've reached out to so far, I think I'd much rather work at an e-boutique than a BB. Centerview, Qatalyst, Greenhill are three in particular that I really liked the people so far (even though I probably have low odds of getting in due to my shitty GPA).
Anyways, look forward to anybody willing to answer a few questions. Really appreciate it.
BankingWaffe
Not much difference in approaching elite boutiques vs BB's. Reach out, be presentable, blah blah blah network your way in. When it comes to interviews, the main difference is that they'll be much more rigorous, so expect to be tested on stuff beyond just the M&I or WSO guides.
Be aware that there's not too many slots open for these guys too; LAZ is the largest elite boutique, with an analyst class size of ~25.
Lazard is not a boutique...
How exactly would you classify them if not as a boutique? Full Service Buldge?
So overall, is it harder to get into an eboutique vs. a bb in your opinion?
Really depends on the boutique and group, how you approach them. Greenhill, know your technical stuff really well like all kinds of financing questions, case studies, how you would market a company you're trying to sell. Qatalyst, know your tech inside out. Etc etc. When it comes to boutique, it becomes much more important how you position yourself. And since the class sizes are so small, you really need to have a good fit.
As for your other question, it's hard to get into both as I'm sure you know. Boutiques are self selecting and youre competing for fewer slots, BBs get tons of applicants.
No matter how you look at it, getting into boutiques seems harder. Harder interviews (they have to really like you AND the technical questions are hard), less spots available, and less people to network with (not as likely you will know someone or an alumni from your school who works there).
i don't think the elite boutiques are easier or harder to get into than equivalent bulge brackets. sure they have a lot less positions but a lot less people drop resumes at greenhill than jpmorgan. i do think the boutiques are more focused on technicals, so a very well rounded candidate who doesn't know the technicals inside out might get a top boutique but not a bulge, while a kid who has a lot of finance knowledge but might not be as well rounded might get the boutique. just my guess
So you're saying both might get the boutique? Think you typed that wrong.
I'd be careful about saying who gets where. Bottom line is it's just two different experiences when it comes to recruiting. Everyone has to be competent to some degree when it comes to technicals. But to work at a top boutique you really need to know why you want to work there and how you fit with that specific team. When west coast teams like GHL, BX, Q, etc bring in just a few heads a year and sometimes only 1 (for the really small shops like GHL SF), you can imagine how they look 99.9% at fit whereas at a BB, being a well rounded, accomplished, and enthusiastic person is often more than enough.
I have often times seen that boutiques and independent financial advisors also prefer people who already have had BB experience for SA for example.
BB and places like Laz and GHL are probably equally difficult. BB because of the sheer numbers applying/interviewing and boutiques because the classes are so small.
I really don't have relative experience but I think e boutique would be harder for a few reasons:
Cannot dedicate the capital/ worker as much as a BB. Expect way lower turnover rate. E.g. a BB can hire 100 analysts, usually let 33 go, repeat next year. E boutique expect to hire a few analysts >20 and keep them over time.
I recently spoke with an MD from an e boutique and A. She was a total bitch. B. Told me they only take approx. 5 interns per year. C. Blatantly told me they typically look at Target/Ivys only.
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