Advice: The Classic Dilemna...
Looking for some guidance: top-tier BB DCM or unknown MM M&A.
I am aware of the other threads.
Bio: Non-target school with high GPA, extracurriculars, etc. Primary concern is branding for exit ops (likely to be classic B-school/PE/HF or stay in IBD). Is it better to have top name, or risk chance of limited deal flow/name recognition but better skill set. Also, chances of moving from DCM to industry group after 2 years?
How unknown are we talking about?
tkdown,
see above response. thx
FWIW one of my BB interviewers was an associate who spent his first two years in a product group. If this really is a "top tier BB" and an "unknown" MM, I'd say it's a no brainer to go BB. If its a little closer, then maybe you've got something to think about.
>>absolutely top 3 BB. MM is unknown but may be on the rise- very difficult to predict due to limited track record. At this point name would not open doors, only rec's from seniors.
If you want to do MM PE, the MM M&A group will probably be better. For everything else, go with the BB.
Do you remind giving some comparable names to that unknown MM?
Hesitant to provide comps and have others take this off the subject. Decent pedigree, maybe more of a boutique than pure MM (i.e. not the size of a PJ or Jefferies) but not an elite boutique like Evercore, Greenhill etc.
Boutique MM? Depends on you. If you want networking and maybe debt related exits, then go BB DCM. If you want MM PE, go with MM.
Obviously I'm biased and think that ECM/DCM pidgeonholes and limits you, but that's a view shared by many mods here.
true, makes sense for MM PE. however what about branding for b-school/future, or what happens if MM struggles. M&A is most appealing without a doubt, but is it safer to take top name DCM and maneuver from there?
"however what about branding for b-school/future, or what happens if MM struggles. M&A is most appealing without a doubt, but is it safer to take top name DCM and maneuver from there?"
You really need to provide similar-like names. Is it a 5 man shop? Then go for the BB. Is it FTP? Go for the BB. Brian from M&I is correct in that IBD is IBD, and the job itself will position yourself well for MBA's. Both will probably help you get into top grad programs in that its more dependent on your GMAT, GPA, etc.
Since you won't provide the name, my best suggestion to you is to talk to the boutique alums and current analysts and find out how dealflow is. See if it's stable and what deals they've done in the past and what they got going on now. If it seems good and you want PE, then go for it. If some parts seem shady to you or unstable, go for the BB DCM.
If you're sure you want to stay in banking longer-term, I'd say definitely go with the BB. Similar to a poster above, one of the MDs I interviewed with at a top BB (GS/MS) started out as an analyst in ECM and decided he wanted to switch over to an industry group. If you are really solid and they want to retain you, you have a good chance of going where you want to within the firm. If you're not solid, you're out after 2 years anyway...
is it wise to take a job at Goldman Operations bc of name or continue to search for a lower end comp. with opportunity for real IB work experience ?
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