How To Break Into Regional Boutique Banks (You Read That Correctly)?
Hi,
I'm from the NW and I'm looking at breaking into regional boutique investment banks or MC firms in Portland/Seattle. I was wondering, is the process for breaking in the same as with BBs, or do you approach the process differently, and if so, in what way?
Furthermore, what is the career path/lifestyle for someone who works at a boutique in a small city (relatively speaking since Portland/Seattle are tiny compared to NYC/Chi/Boston and other i-banking hot beds)? Is the compensation/hours similar? Can you move to a BB after working at a boutique? Is it good work experience for MBAs that can get you into a top program?
thanks
Obviously your not going to have KKR knocking down your door, but you can def. move into roles at smaller PE firms in the area. Although name brand definitely helps, getting into a good MBA program has a lot more to do with leadership, GMAT, & other qualities that help you stand out.
"Cowards die a thousand deaths, but the brave only one," Bill Shakespeare
Leadership is a huge point for HBS, but other top business schools have varying views. I believe Columbia, for one, is not AS concerned with this particular aspect. Just my $0.02
I pretty much agree with the previous two posters. Regarding exit opps, you will probably some solid exit opps in your region, but in terms of pure mobility that you'd get from a strong BB, that you won't find as readily (read: without contacts/network help). In this market especially, employers have their pick of bankers from top and mid BB banks, so regional players are definitely hurting. That said, as the market improves and hiring ticks up again, regional players with contacts will definitely find opportunity again (not generally with the KKRs of the world, but with solid firms in different locations across the US).
Regarding B school, they look for quality of experience, opportunity to lead (projects or junior analysts, for example, for banking), increased responsibility, etc, much more than bank name. In terms of B school, if you think you will have the opportunity to gain some valuable and essay-describable (that could be a word, but who knows) experiences, then the regional boutique will definitely help you candidacy. Remember, work experience is just one aspect of your application - they are also looking at GMAT and GPA, ECs/non-profit work, and, of course, the ability to craft expressive and articulate essays. Most of the top schools want all of these aspects - HBS looks to leadership a bit more, Columbia to quants (GMAT/GPA) a bit more, Wharton (amount of work experience and hard stats), etc - but they all want the full package. If B school is something you are seriously considering, then start developing your whole candidacy now (ECs, and possibly GMAT as it is good for 5 years).
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How about just breaking into boutique banks? Is it typically that difficult, or is it fairly doable? How much easier are they than Bulge Brackets?
The real question is, will boutiques be hiring this fall? Hopefully most of them are looking to add 1-2 analysts among their ranks.
Do you guys know if boutiques mostly hire in fall as well, or could positions open up randomly during the year depending on if there's an increase in dealflow, an analyst leaves, they bring on a new MD etc??
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