Bx credit or top BB
Have an offer from top BB and from target school. Also considering bx credit. I feel like credit might silo but also the investing seat experience is unparalleled (not sure what people exit to from bx credit though?).
Based on the most helpful WSO content, here's what you need to consider:
Blackstone Credit (BX Credit): While BX Credit offers an unparalleled investing seat experience, it is true that credit roles can sometimes be perceived as more specialized or "siloed." However, Blackstone's brand name carries significant weight, and the experience you gain there can open doors to other investing roles, including growth equity or tech PE, especially if you can leverage the prestige and network effectively. Exits from BX Credit often include other credit-focused funds, distressed investing roles, or even broader PE roles, depending on how you position yourself.
Top Bulge Bracket (BB): A top BB role, especially in a strong group like M&A or LevFin, provides a more generalist skill set and broader exit opportunities. It’s a tried-and-true path to private equity, growth equity, or even tech-focused investing roles. Additionally, BB roles often provide a strong foundation for MBA applications and networking opportunities.
Your Long-Term Goals: Since you're considering growth equity, tech PE, or even startups, the BB route might offer more flexibility and a broader network to pivot into these areas. However, if you’re confident in your ability to transition from BX Credit to these roles, the investing experience at BX could give you a unique edge.
Superday Decision: If you’re still unsure, attending the BX Credit superday could be worthwhile. It doesn’t hurt to explore the opportunity further, and you can make a more informed decision once you have all offers in hand.
Ultimately, the decision depends on your risk tolerance and how confident you are in navigating exits from BX Credit versus the broader opportunities from a top BB. Both are excellent options, but the BB might align better with your diverse long-term goals.
Sources: Summer - BX RE vs. Top3 BB IBD, https://www.wallstreetoasis.com/forum/investment-banking/qa-md-in-ma-and-capital-markets-with-bulge-bracket-and-boutique-experience?customgpt=1, How to get over a superday rejection?, ., BX RE SA 2021
It depends. Do you want to work in credit long term? If the answer is yes, BX is one of the top shops on the street and would be an ideal place to start your career. If you’re not sure, it might make more sense to take the BB role and keep your options open to recruit out of banking. The PC to PE move isn’t impossible (especially from a top shop like BX), but most of your options will probably be MM / LMM firms as the MF / UMM recruit out of IB, or increasingly from their own analyst pools.
You should also keep in mind that not all BB groups are created equal. The buyside recruiting landscape for the top teams at GS/JPM/MS will look different than that of a lesser known group at a third tier BB. Not saying there aren’t great opportunities for the latter group, but you should do some research into where alumni from your team have gone on to.
BX all day, legacy GSO is a titan in the space. Credit career prospects are much better long term. Plenty of CLOs , BDCs , PC , and miscellaneous credit firms with a total return mandate. Bond markets are way less irrational than public equity or PE. You prob won’t have to go to B school either.
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