Bulge Bracket vs. Boutique Sales and Trading
Hey, so I was wondering if there a major difference working for a bb vs working for a quality boutique in regards to sales and trading? I get that on the ib side the deals are bigger and im sure payouts are better. But what about on the s&t side?? I feel like i'm reading things on bbg and other publications about some equity/fi guy leaving a big shop and moving to a smaller firm? i also cover some smaller shops and some of the guys on those desks make killings, and they all started at some big shop.
I wonder if the atmosphere would be better and the levels of mgmt are trimmed.I
If anyone has any insight would love to hear.
Thanks
I am also interested in this topic. I just interviewed for Nomura S&T superday 22/18 I am going to hear back this week. I have networked myself at Sandler Oneill + Partners and I was wondering if anyone could shed some light on thie differences. I haven't given my preference yet as to if I want S&T at Sandler or Investment banking...I am passionate about being a trader, but investment banking experience is more of their bread and butter from what I understand. Investment banking mergers and acquisitions would be a solid well rounded internship as a fall back to S&T at Sandler; what do you guys think? Should I say I am interested in both and discuss growth opportunities with my contact?
Those are just 2 of my hands right now..Goldman Sachs is coming to campus for private wealth management..I have networked at deutsche bank s&t. Then there are boutiques...
Most of these places mentioned are all going to be very similar. The differences for the firms that operate under the commission vs salary + bonus structures. The key difference is the clients are the broker/dealers client rather at other shops clients are the individual brokers (sales-trader). Smaller shops are going to focus on exchange products or other standardized products. The custom otc products that the bb's offer are not something that a boutique is going to be able to offer.
Understand. In terms of growth and career oppurtinities how do boutiques stand up? Pay? Bonus? I have read allot just wondering the current perspective
For many the boutiques are the exit opportunities. They take the relationships they developed while at the BBs or with other HFs while on the buyside and they then leverage them and make 3-4x what they would get for the same amount of production generated. Typically its pure commission based (different at junior level).
Thank makes sense. How is the training at boutiques? I am in my junior year undergraduate. I want to have the best training possible. I understand that people grow in BB then move to boutiques to work their relationships; how about people interning at boutiques and starting there. How are the growth oppurtinuties? how is the pay? 1st yr? how long b4 they let you trade? what are bonuses like?
I'm also in this similar situation. I have been on a trading desk already last summer. The only thing I am concerned at is that smaller shops wouldn't offer the "training" and exposure to a large amount of product a BB would. I think it says a lot when I look around the desk and people are well established with their specific product. However, I am torn between the idea of starting at a smaller shop which would have better lifestyle, less hierarchy, etc. Versus a larger shop where I would get the "training" if offered a position. Hopefully I can have the opportunity to choose between both at the time of graduation. The reality is that I've only seen a few products and for a 21 year old to know exactly what you want to trade/sell for your career is bit much to ask for.
Middle market/boutique S&T summer analysts/internships opportunities? (Originally Posted: 01/06/2016)
I am looking for some middle market and/or boutique IBs that offer good S&T summer analyst positions or internships. I am struggling to find a good list of non-BB banks that offer these type of positions. Does anyone have an opinion on the matter?
May be I am wrong but isn't the recruiting over for SA positions? The good ones like HL, Moleis, AGC and others like it have passed already
Yeah I believe it is a little too late to board that train. I had my final round with Jefferies back in November I believe and that was around the same time everyone else was wrapping up. A buddy of mine has one for BAML next week I believe but again that is final round.
Small boutique S&T/ER firms (Originally Posted: 01/24/2015)
Anyone have experience with this business model? Does it work? (Small boutique as in trading revenue to keep you competitive. Thoughts?
Shameless bump
Do boutiques hire for S&T? (Originally Posted: 07/06/2007)
Do firms like Lazard, Greenhill, Evercore, and also Blackstone hire for S&T, or are all these banks M&A?
They don't have S&T. Lazard and Blackstone have Asset Management arms (including hedge funds I believe).
They also have websites.
And you have something up your ass...so what's your point
Click on careers. I'm helping you.
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