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My friend has offers from decent MM boutique (strictly M&A) and BB IBD.

He believes that a MM boutique experience might actually provide him good exit ops: 1) he could move on to a BB IBD 2) PE 3) MBA

I would like to help him out, and my question is, "is it an industry norm for one to move from a MM boutique to a BB IBD?" "do you normally need prior BB IBD exp to break into PE?"


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Comments (6)

  • arcanne's picture

    Why is he trying to lateral to a BB later if he can just take a BB offer right now? Can you be more specific as to which group of firms hes considering offers from?

    Banking > VC > Tech PE; PM me if you would like any advice I'm happy to help

  • Mr.Green's picture

    If your friend has an offer from a BB IBD, then why are they worried about exit ops in terms of moving from a MM bank to a BB bank? It is already an option for them if that is where they want to end up.

    I would think that going to the BB IBD would increase their overall chance in moving into PE down the road, but you could definitely get there from a MM.

  • soulsearching's picture

    Well, he didn't get an offer from GS/MS...so he thinks that if his chances of landing a IBD job at a top BB such as GS were to increase by working at a boutique for 2 years...he would do it.

    haha...I don't know if that's the right thinking



  • dosk17's picture

    He should take the BB offer now and do it. This is like someone with a PE offer out of school asking if it's better to do IBD first, only even less logical than that.

    GS/MS vs. other BBs make literally almost no difference... and he'd have a much better chance of getting into one of those by working at a BB rather than a boutique for a few years.

    More on bulge brackets vs. boutiques.

    In general for FT offers it's almost always right to go to a BB if you have the choice... yes, sometimes MM/boutique experience can be better, but you have a better chance of getting better experience at a BB and it's all ultimately a numbers game.

    That's not to say a MM or boutique is bad per se, as you can definitely get into PE from either of those. It's just you have a better chance with a BB name as your access to headhunters will be better.

  • ex-banker's picture

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  • gomes3pc's picture