2 IB Analyst Offers OR Vanderbilt MSF - Which of these 3 Paths Would Make me the Most Competitive for EB/BB?
Hi everyone,
I graduated from NYU in 2021 fully preparing to apply to medical schools and then decided to pivot to investment banking in November. My recruiting didn't go too well since I had no finance education and experiences, but I did get interest from a couple well known firms like SVB Securities (13 interviews, was told I was 1 of 2 finalists), Baird (1 round with MD), and Huron (1 round). I'm currently interning at a generalist firm, but I want to leave ASAP since it's unpaid for 3 months. I would love to hear all of your opinions on which option would give me the highest chance to break into an EB/BB. I'm most interested in the tech and healthcare industries.
1. I'm sitting on one offer right now that is a LMM generalist firm. Team consists of 2 main MDs, 1 associate, and 3 brand new analysts including me. Comp is $60-$70K base + $30-$40K bonus after 1 year.
2. I'm having my final interview for another boutique founded last year that only focuses on insurance/insurtech. During the interview, they mentioned that the firm won all bake offs except 1 or 2 against firms like Goldman and JPM. You have the opportunity to become partner in your 30s. My concern about this firm is that focusing on the insurance space is too niche and will make it difficult to lateral to a better firm.
3. I also was accepted into the Vanderbilt MSF, which goes from August 2022 until April 2023.
Again, I am interested in hearing all of your opinions on which option would give me the highest chance to break into an EB/BB. A close uncle of mine just joined one of the EBs as a VP, so I'll also have that connection to help me through the process.
2 > 1 > 3
Vandy MSF mostly places into MM banks anyway
Got it, thank you so much. Can you elaborate a little more on why you think the insurance/insurtech is better than the generalist firm if the insurance industry is ideally not one that I want to stay in.
When you lateral from insurtech, I think you can make the argument to go into fintech and maybe health care since they overlap a little
I agree with the sentiments above but I'd put 1>2>>>3
If you're planning to lateral you may be better served at an established LMM rather than a 1-year old boutique.
The primary graduate degree for breaking in is the MBA, not MSF. So I don't think it would be the best use of your time given your specific goal.
Based on my conversations with analysts that left the LMM generalist firm, the deal sizes are $5-$60 million M&A and debt/equity raising.
I know that the startup insurance/insurtech IB is risky but one of the two co-founders was the Senior Director at Merrill Lynch and Global Head of FIG at BoFa. The other was the Group Head of FIG at J.P. Morgan and Deutsche Bank. They both were C-suite for insurance companies. It's been brought up in the interviews that they have plenty of connections in the insurance space because of this.
Would you still think I should go with the generalist firm if I eventually want to lateral to a better firm ideally in the healthcare/tech team? I heard from my relative that I should go wherever I can get the most high-quality experience
You talking about insurance advisory partners right? Seems pretty cool tbh.
Why do you think it's a good firm?
It's up to you. It could be a great opportunity, but I personally wouldn't take a job because of a future employer's connections/previous work experience.
I'd agree with your relative, go where you'll get the best experience, for you.
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