Ares Commercial Finance

Based on the most helpful WSO content, here's what you need to consider:

1. Ares Commercial Finance (ACF) and ABL Pigeonholing:
   ACF is heavily focused on asset-based lending (ABL), which could limit your exposure to broader finance areas. While Ares is a strong brand name, the specialization in ABL might narrow your exit opportunities, especially if you're aiming for traditional private equity or other buyside roles. ABL is a niche field, and while it has its merits, it may not provide the same level of optionality as a generalist investment banking role.

2. West Coast Middle Market Banking (Key/Piper/Opp):
   These firms might not carry the same prestige as Ares, but they offer broader exposure to deal types and industries. This could better position you for buyside recruiting, as you'll gain experience in M&A, capital markets, and other areas that are more directly relevant to private equity or hedge fund roles. However, the brand name might make it slightly harder to stand out in competitive recruiting processes.

3. Future of ABL and Career Trajectory:
   ABL is a stable and specialized area, often tied to economic cycles. While it can lead to a solid career in credit-focused roles or within ABL-specific funds, it might not align with your goal of maximizing optionality early in your career. ACF does offer job security and a strong brand, but the narrow focus could make transitioning to other areas of finance more challenging.

4. Re-recruiting for Full-Time:
   If you choose the west coast MM banking offer, you could leverage the broader experience to re-recruit for a full-time role at a larger or more prestigious bank. This path might give you more flexibility and optionality in the long run, especially if you're targeting buyside roles.

Key Takeaways:

• If optionality is your top priority, the west coast MM banking offer might be the better choice due to its broader exposure and relevance to buyside recruiting.
• If you're drawn to stability and a strong brand name, ACF could be appealing, but be mindful of the potential pigeonholing into ABL.
• Consider your long-term goals: If you're set on private equity or hedge funds, the west coast MM role might better align with those aspirations.

Ultimately, weigh the trade-offs between brand prestige, optionality, and the type of experience you'll gain.

Sources: —, On the off chance Investment Banking doesn't work out for me, Career Prospects Advice! Where do I stand., Why not Chicago over NYC?