I've an offer in my hand from a boutique IB firm (3 people - MD, Associate and Analyst) where I've been offered a position just below the MD. The Founder comes from Goldman (he was an Analyst/Sr. Analyst for 5 years in IBD; have worked in large M&A and PE transactions in India and UK).
In his IB firm, he had closed 4 transactions in the last 3 years, and have few deals in hand. His registered office is his residence address, with his branch office shared with a 20 year old Accounting Firm. As a person, he is good and has answered my questions honestly. He is 33/34 years old.
What I'm not happy is the compensation part - it's significantly low, but with high revenue sharing incentives. The fixed component is so low that I can just meet my monthly bills. He expects me to bear all the operational expenses and the laptop costs (which will actually burn my savings - this is my biggest challenge). I discussed this matter with him, but he said he is in no position to increase my fixed component - "this is the highest I can pay".
On one hand, the position is good with tremendous learning opportunities, but the office expenses and fixed component, on the other side, is playing a spoil sport.
If such was your scenario, what would you do? Do you think this kind of risk is justified? I need your sincere advice to help me make an informed logical decision. Your thoughts will be highly appreciated. Assume my present job/firm is comforting and stable.
Founder spent 5 years as an analyst and senior analyst..
Do you have other job offers? If not, the decision has already been made for you. I was in a similar position coming out of a non-target undergrad: no job offers except at a boutique with weak deal flow and low compensation. I took it, worked there for a year, and then lateraled over to an MM that pays street. If you want to work in investment banking, you sometimes have to do some time at "lower" firms to move up. And, who knows, maybe you will even like it at this firm. Good luck.
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