What do you guys think about boutique IBanks? I'm speaking with one for a full-time position in a location relatively close to home. The firm is relatively new (less than 5 years) and averages ~2B in transactions annually in industries that I'm interested in. Also, I should add that nearly every single person in the office has significant BB street experience (the exception would be myself and one or two others). Good experience?
The position is becoming increasingly intriguing, now that Piper just sent me a nice rejection. :(
The difference between some boutique banks and others is immense. It's impossible to say whether one is better than another unless you know more about it than you gave. If this is the only opportunity you have, it is better than nothing or an accounting job, but it is not better than a MM or BB opportunity. The best boutiques are ones that have a very specific focus and get in on important deals in that specific corridor; however, the problem is that as an analyst there you become extremely specialized, which is a bad thing for young financiers.
Boutiques aren't bad places; I intern at one right now. I think it is better to go to a boutique later one once you know exactly what industry you want though. You might say you like some industry or product right now, but with no experience you don't have any idea. Better to go to a place where you can get a wider range of experience and then once you choose a long-run field of interest, you can move to a smaller place with better hours.
my experience at a boutique has allowed me to work in a variety of interesting industries while working on the full range of products. additionally, i work longer hours and am on more deals than my friends at bulge brackets.
I'm pretty excited to work as an SA at a boutique this summer. I'll be a generalist, so I'll have the opportunity to work throughout various industries rather than be pigeonholed into one (as I'm not really sure which industry I want to work in at this point). Also, there are only 3 SA's where I'll be at vs 75+ at BB's, so I feel like (and maybe falsely) I'll have a greater impact and more responsibility. That's not to discount the BB experience, as it will open a lot more doors having Goldman on the resume vs. some smaller boutique name, but BB isn't for everyone.
Another advantage - I'm regional, getting paid 55K prorated rather than 60. Factor COL differences though, and I'm def. earning above NYC people.
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