Current CB Analyst at a BB (GS/BAML/MS type) regional office (Bos/Tor/Chi type) with an offer to join an elite boutique (Evercore/Moelis/HLHZ type) in LA as an IB Analyst.
Is this a no-brainer?
For context: joined ~2.5 months ago out of undergrad. Love the office. Would love to transfer internally to IB but don't want to risk that after a year or two. Not loving the CB work, breaking into IB is the goal. Location change is tough but i don't really care, would go anywhere for the right opportunity.
Too early to leave? Is the risk of internal transfer too high to pass up on this opportunity?
WWYD?
No-brainer, especially if Moelis LA
IBD in LA.
My money is that it's BAML Chicago / Boston -> Houlihan LA. By the way, Houlihan isn't considered an EB and Evercore doesn't have an LA office. But yes, you should take the offer.
You must run one of those psychic stores on the corner of every nyc street.
You're right.
It's all about what you want. If you're set on IB... then obviously go for IB?
Definitely a no-brainer. Take the IBD position. You are such an outlier to have gotten this opportunity that so many people on here seem to never be able to crack. I wouldn't even hesitate to accept if you think IB is what you want to do. Good luck!
Absolutely take it....why would you wait for a potential internal transfer after a couple of years when you could do IB now? Unless your firm has an amazing internal mobility policy and a history of CB analysts moving to IB, you'd likely have an easier time lateraling from your current IB offer to IB at one of the firms you mentioned around the same time you'd be trying to internally transfer from CB.
Houlihan LA is looking to hire people. They wanted to fly me out for an associate interview, but I passed. People shit on corporate banking / credit and yet banks seem to like it just fine.
Congrats.
Sounds like an easy decision and that you already have your mind made up. Good luck.
BB Corporate Bank VS Boutique IBank Offers (Originally Posted: 12/20/2012)
So I'm here in NY, after a summer as an intern at a BB Corporate Bank. Summer went well and enjoyed the job. However, I don't see myself doing this forever. I accepted the offer to start next summer. The deal is, I'm done with school (graduated before internship - late to the game), so I applied to a few boutique ibanks to get some good experience until the summer start (when CBank offer begins). I got an offer (small ibank, little recognition) and joined them for the past two months. I never told them that I accepted an offer at BB Corporate Bank though that would start next summer. So, basically, I either have to quit this job in the summer, or turn down the BB Corporate Bank job that I already accepted after my internship. Ultimate goal - SF Private Equity or MM IBank. The likeliness of this, in my opinion, will probably have to come after B-School to switch over. I have a couple friends that went from Corp Bank, B-School, IBank at BB for a year, then jumped to PE. If that is what it takes to do it, I'll do it. Offer at boutique is about 20K less per year than BB Corp Bank (likely will never exceed it before b-school). Question - To achieve my goal, do I stick with the boutique, or head back to Corporate Bank that will likely offer better opps for B-School and BB Ibank in the future? The boutique though is already kind of in the industry. Either way, I bit off more than I could chew. Please help.
do boutique until you start at the BB. tell them you accepted an offer at the BB CB a month or so prior. Also I would clear this off with the BB guys, that you will be working (temporarily) unitl your start date.
You can also ask BB if you can start early (January) off-cycle. That will give you more wiggle room to lateral in IB elsewhere before you head off to Bschool. 1.5 years CB to IB to PE/MBA isn't as bad as 1 year boutique to 1 year CB to 1 IB to much hopping around.
your other option would be to continue at this boutique and start CB next year work in CB for the 2 years and then go for your MBA and shoot for IB for there. but i would use that as last resort.
Thanks for the quick reply. That helps a lot. Last thing, I've heard from different sources that when quitting a job in ibanking, you don't usually give them prior notice. Just expect to walk out the door, because that is what they expect. First, why would you say it would be good to give them such an advanced notice? And last, would I tell them the truth? Basically that the exit opportunities are not as good as CBanking, even though iBanking is what I want to do eventually? I'm not sure how I will phrase this.. Or do I even need a reason? Thanks in advance.
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