Offer advice (for an MBA Associate) - BAML TMT (NYC) vs Perella or Greenhill
..
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
I would work on a lean deal team that gave you exposure to M&A. Would lean towards the PWP offer, but people who have been on a desk for a while would know better
What is your background - were you an analyst before?
Its case specific but my advice to all post MBA hires is to take the BB offer over the boutique - better career path.
In your case, Citi Power and Barclays Power are the best groups (CS is good too but lots of uncertainty). The TMT teams are relatively weaker and it is more likely that power will have a stable trajectory at this point in the cycle than TMT.
From what I've observed, the "EBs" tend to be better at the ends of the seniority spectrum.
The analysts get a great package: access to senior bankers since deal teams are leaner, high-quality dealflow that makes headhunters happy to put you in front of their best clients, comp that tends to outpace the BBs, and less of a facetime culture. [I chronicled this really well in my "David vs. Goliath" post that got front-paged.]
The MDs or partners also have it made. If you're a rainmaker, you want to be at the place that gives you the biggest share of what you bring in. BBs have such a massive infrastructure to support that they're almost automatically comping you less. Worse yet is when underperformance, losses, or fines in other areas of the bank weigh down firmwide profits, eating into the global comp pool and fucking IBD over. Thus you see the exodus of bankers from places like UBS, Barclays, CS, and JPM who've all watched fine after fine crush their comp year after year.
In the middle, Associates and VPs suffer a bit more. There's often less of a defined promotion track (i.e. a systematic process for evaluating and promoting middle management talent). The rockstar VP at Moelis who's sourcing his own deals is going to get to MD quicker, sure. The guys who are moving slower while figuring out how to transition from associate to VP aren't going to 'graduate' upwards as quickly as they would inside a place like JPM where there's an entire division of the firm (HR) dedicated to providing resources on professional development (or GS with an internal think tank and culture center like Pine Street).
If I were thinking about a long-term career in banking, I'd probably go for the biggest brand name with the best educational resources. i.e. "Where am I going to develop best as a banker?" Once I honed everything, I'd then figure out where I'm going to get paid most, and after screening for that, where I will fit in most and be happiest in my day-to-day.
What should you consider when answering the 'where am I going to develop best as a banker'?
Where do you think that is?
I would side with mergersandacquisitions78 and APAE. That is some excellent advice.
Thanks everyone for the thoughtful advice.
APAE Great points summed up nicely. What firm would provide the best "brand" (BAML/CS/Citi/UBS/Barclays)?
Incidunt ea voluptatibus voluptas. Doloremque rerum architecto deleniti corrupti temporibus voluptatibus mollitia. Ipsa saepe qui perferendis unde iusto tempore. Vero soluta temporibus fugiat eos optio voluptates dolorem veritatis.
Non culpa adipisci vel magnam nobis voluptatibus nesciunt. Est incidunt aut rerum et. Non quae commodi voluptas perspiciatis qui expedita. Voluptas et natus corrupti eos error. Est tempore iste quia est quibusdam iusto.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...