Bank Of America IB Or Blackstone Strategic Partners?
I was just curious what the general opinion is of these two summer analyst positions in New York City. From my understanding, Strategic Partners at Blackstone isn't as well-regarded within the firm, but how does it compare to an investment banking position at Bank of America (exit-opps, hours, culture, compensation, skills, the work you do)? Which one is better for a long-term career in finance? Also, can you lateral internally at Blackstone to another group? I know that it is also possible to go into private equity after doing 2 years of investment banking, but would one land a better position at Blackstone by doing so? Thank you!
Think it all depends on what you want to do. If you want an early entrance to the buyside, Strat Partners would be the way to go. However, the work there is going to be different from what you would do at a direct fund. Similarly, getting to a direct fund from Strat Partners will be harder than going to one from IB. I'd say IB will keep your options more open than going the secondaries / FoF route, but if you think the latter is something you'd like to stay in long term, go for it.
Absolutely not true to say that Strategic Partners is not as well-regarded within the firm, they are one of the top buy-side firms in secondaries. Hard to answer your question because it all depends on what you want to do in long term. Yes it may be harder to switch back into direct PE, but many who are already in secondaries like their jobs and don't plan to move.
If direct PE is your end goal, then IB at BofA makes more sense because in secondaries people usually model on a fund level (at least for the LP deals).
Please go BofA
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