BB internship vs. Boutique full-time
Hi Guys,
Wondering about your opinions: should I choose a bulge bracket internship or a full-time (permanent) position of a top 20 boutique? Positions are IBD, M&A advisory. Final goal would be PE.
Thanks
What the heck is a "Top 20 boutique"??
full-time duuh
why do an SA and go back to searching for a job?
Exactly. You can always lateral at a later point or go into PE.
"Top-20 boutique" is an oxymoron. "Boutique" is how you sanitize "upstart" or "lower-middle market" in banking parlance. There may be worthwhile exceptions to be made for what is actually a boutique by the more standard definition - i.e., a specialist practice (Qatalyst and Leerink Swann come to mind). But a small firm serving local business in Nashville isn't be in the top 20 of anything that people bother to rank.. not to say that they don't do good work or make good money, because I'm sure some do.
Otherwise, you're either referring to a true "elite" independent M&A advisory firm (e.g. Evercore), or a strong middle-market firm (e.g. William Blair).
Always take the fulltime. You can even lateral to a BB from a boutique and not waste any years (they'll usually start you as a 2nd year analyst).
But what exactly is a top 20 boutique, is there a ranking I don't know about?
Yeah, I'm not sure 1-20 are small enough parameters to keep "no-name" and "elite" exclusive.
Haha I guess I was ambiguous, I meant that the firm is one of the top 20 investment banks in the US, based on value of deals (mergermarket)
Thanks for the comments, so I guess full time it is!
Then you're talking about Evercore, Centerivew, Lazard, Rothschild, or Greenhill? Take the offer.
^ Also, Moelis, Perella Weinberg, Baird, Harris Williams, Oppenheimer, Edgeview, and Houlihan Lokey.
These names are not in the current Mergermarket Top-20 North American M&A Advisers (Value) league tables. OP specifically referenced that source.
And if you're talking about top or elite boutiques, I would cut all but Perella Weinberg from your list. The others are top middle-market firms. If we're splitting hairs, that is. All are strong firms.
LOL houlihan is not an elite boutique
frg at HL is elite, but its a good MM overall...not necessarily elite or boutique
BB Temp vs. boutique FT (Originally Posted: 06/28/2013)
Which is a better opportunity? I just wonder because this hiring economy isn't too hot, but if its a choice between a temporary contract job at a BB, or a FT at a mediocre boutique or prop shop/PWM, which is better on resume, experience and networking?
BB even temporarily as long you get a valuable work to do.
what is your end goal? aka, which one is more relevant to what you want to do?
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