I have a SA offer at an American BB for next year, I also have an offer to join full-time at a regional boutique of ~50 people (I graduate 2023).
The BB offer would mean delaying my graduation for a year (doing a 1 year masters).
Is the BB opportunity worth the opportunity cost / tuition fees? The boutique pays around 25% less all-in.
Thank you
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I rejected a FT offer at a MM (Baird/HW/HL) to do a summer at a BB this year. My logic was that I’d go into the MM and have a very long battle to get up to a BB with lateral recruiting, modelling tests and all that rubbish. Whereas if I graft like f**k and convert the BB SA I’ll be right where I need to be. I took the risk and it may not pay off but IMO if you don’t take your BB SA chance you’ll regret it forever with the ‘what if’. Just what I did. Good luck.
I'd take the BB as well. Compared to the US, BBs in London tend to be more flexible when it comes to graduation/start date, etc. So it may be worth it to ask HR whether graduating in 2023 instead of 2024 (did I get the years right?) would be a deal-breaker for them. If not, you'll have time to travel or do another internship (maybe on the buyside?); no need to do a masters imho
On a side note, how did you manage to score a summer gig for next year if recruiting only starts in august?
I got the SA offer through an insight program, so it was accelerated recruiting. You’re correct that recruiting typically starts in august
Also the offer at the boutique isn’t guaranteed, but I have an SA with them this summer. In the past they have converted all interns so I’m trying to decide from there
it's really up to you but as you may probably know already from other threads, BBs in London offer far better exit ops compared to any EBs or boutiques (from the size I'm guessing you're going to a shop in the likes of Gleacher right?). Also the fact that you're doing a SA this year would definitively be a good prep for next year BB SA, increasing your chances of securing a FT offer from the BB.
Also if you think about it, upon graduation you'll have two summer internships under your belt; so you'll be in a sweet spot if you want to lateral to a better BB for FT or maybe try landing an off-cycle internship at a MF or something.
Yeah it’s similar to Gleacher but sector focused & not generalist
I did the same thing that OP is thinking about. Rejected a MM FT for a BB SA (which I will be doing this summer). Obviously, do some cost-benefit analysis between the 2 options. IMO, I thought that it was def worth due to reasons similar to the comments mentioned above (wanted to start at BB and avoid the hassles with lateralling etc). Also you don't even have a return offer yet from this yr SA so it's always good to have alternative options anyways.
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