Associate - EB Industrials (MOE/LAZ/EVR) / Top 3 BB M&A (GS/JPM/MS)
hey all, I’m trying to decide between two options for an AS2/AS3 role and could really use some input. For context, I have prior BB experience in a coverage role in a foreign country (UBS/CS/Barc), then moved to the buyside for 2 years (at a no-name shop). Now I’m looking to return to IB in NYC.
Option 1: Top 3 BB M&A (GS/JPM/MS)
- Background: I’ve done more financing than M&A so far, but during my time on the buyside, I worked on several M&A deals (didn't close unfortunately). I’m really interested in doing more M&A, so this would boost my resume
- Pros:
- Stronger brand name
- Potential to transfer to London/MENA for a couple of years in the future. —how easy is it to move back to NYC at VP level after a stint abroad?
- Better exit options (e.g., Corp Dev later?)
- More stability overall vs EB - is this true?
- Less hours?
- Cons:
- Likely AS2 level with lower comp compared to the other option (anyone know the pay difference vs EB at AS2 and AS3?)
Option 2: EB Industrials (MOE/LAZ/EVR)
- Background: Interesting advisory mandate and may involve financing work. Not sure if I'd have more # of deals closed
- Pros:
- Higher comp and likely AS3
- I liked the team
- Really interesting mandate and good deal flow (closed some high profile txns recently)
- Cons:
- Longer hours
- Weaker brand name compared to the BB option
- Less mobility internationally (office strength is weak)—how easy is it to move back to NYC at VP level after a stint abroad?
- Potentially less stability / cut 5-10% of workforce
Which one is a better path to be a banker long-term or keep options open for Corp dev? EB pay is significantly more....am I leaving $ on the table to consider a BB?
If you want to be a banker long-term go with EB. If you want corp dev exits go with BB. To optimize for both, I'd go with BB.
Why would an EB be better for a long-term banker? As an associate, I totally understand the appeal of moving to an EB at the Director/MD level, but I’m curious about the advantages earlier in the career.
If you’re in a top 3 BB M&A group, doesn’t that generally offer higher deal volume and more completed deals compared to an EB? From a networking perspective, wouldn’t the broader platform at a BB also be an advantage?
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