Are D/MDs at EBs more capable than at BBs?
Am finishing up my second full year as a post-MBA associate at a top-5 BB and I’m incredibly underwhelmed with the quality of leadership / expertise at the Director and Managing Director. While there are some excellent bankers, they are far outnumbered by seniors I would consider generally incapable compared to their pay.
Forgetting meetings, misremembering client contact names, sounding like bumbling idiots during pitches, complete lack of thoughtfulness when preparing draft materials, hot swap changes until the last possible second on board materials, forgetting about client follow ups for literally months on end, not being able to use email….really simple straight forward shit, especially for someone that’s been doing this for 10+ years. Have generally heard similar stories from my peers at other banks too.
Is this different at places like Evercore/PWP/PJT/CVP? Looking to lateral, but if it’s the same I’ll just gtfo of this wretched career.
In todays world. Short answer: Yes.BBs have a massive product offering for their clients they can win deals just by the sheer resources they have. EBs have to compete against a lot. Usually focused on pure play advisory.
Firms like Evercore/Moelis/Lazard usually take the best people from BBs
Don’t you think Evercore and Lazard and maybe moelis are more institutionalized and more similar to BB’s than maybe the other boutiques?
No, they don't have robust balance sheet to lend off of, treasury management etc. everything that comes with a bulge bank like JPM/Citi/BofA
MDs at EBs probably. Especially those who pivoted to EB after being a BB MD. For the most part, homegrown EB Ds are execution monkeys who will have a hard time getting a sizable client list when they make MD (just offering M&A advisory isn't enough to create a solid Rolodex of clients).
You'd be surprised. It's really not that difficult if you're efficient with your time and lean on juniors to stick handle stuff. It's obviously harder without a broad service offering at a BB but not insurmountable if you grind. This is why D -> MD is a tough jump, too many get bogged down on execution.
Have worked at both BB and EB. Have seen complete trash MDs at both. Esp at the EB, have seen people who shouldn't be allowed to be in finance lmao. Maybe IR
Which EB was this ?
Definitely not as clear cut as what people think...
I was previously working at a BB and we had some fantastic MDs. Moved into corpdev and we used a top EB (think Evercore/Lazard/Moelis/PJT) for advisory work and the MD leading the mandate was absolute trash, gave absolutely no insight on calls, literally a decent VP could have done a better job...
Honestly it's the group.
If you don't like the people then move team after networking. Find a senior guy who isn't toxic and will champion you.
Don't give up the career over people. There are idiots and the inept in all walks of life.
Unfortunately, you’re just way above the rim, even at your young age. I can tell from your post and the way you write, you must be way smarter than the directors and MDs you work for.
I can’t imagine what a struggle it must be for you to wake up every day and work under people who are so clearly intellectually inferior to you. I imagine even the seniors at EBs can’t live up to Lo the standard your deserve.
I’m shocked you’re just at a “Top 5 BB” and not working at NASA, mega fund private equity shop or an elite quant hedge fund. Are you just slumming it in IB to get a taste of the common man before you start your own company and take the world by storm?
Why even post this reply? Are you actually bootlicking anonymous senior bankers just to shit talk an anonymous poster?
Get a life, micropenis poser
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