Project finance vs boutique m&a financial advisory?
It looks like I might have a couple opportunities coming up where I'll need to make a decision that could lead me down two different paths. I was hoping I could get some help from everyone to evaluate each position. They would both be analyst positions.
The first one is a project finance bank. In this particular office they focus on more interesting projects rather than roads and municipal infrastructure. Things like wind turbines, alt. energy etc. the bank is on the small side and wasn't in the top ten for '12 league tables. Pros are pay and recognizable street name. Cons are not M&A and sweatshop. Would this be a favorable experience for someone who wants to jump into PE?
Second is a boutique M&A bank focusing on a niche industry with favorable long term drivers and is interesting to me. Under 10 employees and they focus on private middle market cos. a really laid back office with a tight knit group of guys. Pros are M&A, hours, and industry. Cons are pay and boutique name.
Thanks guys just wanted to see what everyone thinks. I ultimately would be happy either place I think it's just that each has a few differences that make it difficult to decide. Ultimately would like to be in middle market PE after an MBA.
M&A more relevant 4 PE - project finance u may get infrastructure funds since some overlap in valuation (need to confirm)
wuld b moar helpful w/ names of companies :)
Thanks for the input. Probably don't want to throw names out there due to the small offices of each bank. The project finance bank is Midwest based with 3 senior bankers and the M&A shop has 4 seniors and 1 junior. I'll probably go with M&A but the pay is below my expectations so I'd be sacrificing on that end for awhile. Cheers
Prost!!!
Thanks!
no problem ! (in CnC Tiberian Sun engineer voice)
Summer internship decision - boutique M&A vs. project finance (Originally Posted: 05/03/2011)
Hello WSO,
So I am a first year MBA and landed an offer for the summer at an industry focused boutique IB ~ 20 bankers, mostly ex-BB. I think the bulk of their deals are M&A. I also recently had a good interview with a bank for a project finance position - mostly underwriting senior, some mezz solutions for energy projects and portfolio monitoring.
I just wanted to poll the public on which opportunity they would choose. I'll be leaving the country for a month so there's a chance I'll need to make a decision via e-mail so just wanted to be prepared with all the insights as possible in case this high class problem arises.
Both groups have been growing rapidly and are hiring with the intention of converting it to a full-time opp. The opportunities are different and dependent upon what I ultimately want to do. I know it's vague, but my long term interests lie in working on transactions be it on the buy or sell-side.
The former would give me a broader transaction and CF skill set exposure and a more general experience, but the second is more related to an area (energy/renewables) I want to get into. The former probably also sets me up better for full-time recruiting as the experience is transferable to more opps. Lastly, comp shouldn't be that important for a summer, but the second one would probably pay double the amount of the first because the boutique is just being cheap for the summer.
Just curious to hear your thoughts. Any insights are much appreciated. Many thanks.
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