Exit Opps from Regional/Satellite Office vs Main Office
After my internship at a MM bank, I was given a choice between the headquarters (located in Chicago) and the satellite office in Boston. Does anyone have any insight on what the differences in exit opps between two such offices might look like?
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Depends on the quality of both offices and deal flow. All things equal, you'll probably have calls for funds in that particular city, as well as across the country. If one is much stronger than the other, you will most likely only receive regional opps for the weaker office (if at all).
Do you think headhunters/PE firms will assume that deal flow and "real" work is slower in a regional office?
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Bump. Would love to hear any other thoughts!
Exit Opportunities at Regional Offices (Originally Posted: 11/13/2012)
Though the standard path for the junior on Wall Street may be changing, many still dream of the presumed greener pastures of private equity or buyside. But for those of us in regional offices, the path might not be as clearly laid out.
The city where I work, Calgary, Alberta, is developing a strong financial career setting, but it still and likely will always lack a lot of private equity or buyside opportunities. So for those of us in the regional offices without a clear path to exit opportunities what are the alternatives? For those of you who have gone through this, what did you move to and how did you get there? For the other readers, what would you recommend? Truthfully there are exit opportunities in my city, but most are corporate and not in the same ‘banking’ arena. Sure, the lifestyle would be great, but that’s not necessarily what I or others would be looking for. There are a few private equity and buyside shops, as I’m sure there are in other regional office locations, but few being the key word with relatively little hiring. I’ve considered attempting a move to a major financial center, New York in this case, to better set myself up for exit opportunities, but that’s not necessarily a sure thing.
So reader, what should I, and other readers in or potentially getting into the same situation, do? Should I try and make the move or stick it out in banking before settling into a cushy corporate gig down the road?
there is no magic answer: 1) sit tight and maybe someone will leave opening up a slot. But your career will progress slower than normal. 2) wait for openings in other firms - its easier to land a job b/c there is less competition. 3) move to a major center and there the problem goes away.
Bottom line - no magic solution to this one.
And at least you're not in Edmonton ;)
Also, Calgary does seem to have a lot of Operational Improvement type P/E firms, small, usually looking for a couple companies in the $30-80mm revenue range to pick up. But that's just my perspective from a few miles North of you.
TT
There is less hiring here because the companies tend to be a lot smaller, but this is a pretty decent city for networking. You can find something on the buy-side if you make an effort to meet people and build a good reputation.
Exit opps from a BB REGIONAL coverage group (Originally Posted: 01/06/2016)
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Anyone?
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