Boutique IB advice
I am a college senior finance major from a non target who wants to move into IB then PE, either MM or Megafund.
I only recently realized that I wanted to go into IB and PE so I am really behind as far as full time recruiting is concerned.
Do you think I will be able to get a boutique IB job now? (i plan on applying to every boutique IB I find)
If so, would my best chance at going to a decent middle market PE fund or even a megafund, require me to make a lateral move to either an elite boutique or a BB?
Also, how would a lateral move look to PE recruiters?
Thanks in advance for any advice
You want to go PE -> IB -> PE...?
No, Im in college right now. I want to go into IB then PE
Ohh, my bad. I misread your last paragraph.
Boutique IB is not impossible. Hopefully you have some decent internships under your belt that you can easily relate to IB, and some semblance of knowledge of finance interviews and principles. Go through the WSO or BIWS interview guides.
Like Sav said, hardest part is landing the interview, but it's not impossible. Once you have it, kill the interview. Lateralling to elite boutique or BB is a good move too.
By far, the hardest obstacle right now is going to be landing an interview. A very small handful of slots do open up between now and May as a result of reneging or headcount reasons, but most of those are filled by those intimate with the process.
By and large, if you are passionate about this, your best bet is to delay graduating by a least 6 months and go for the SA process at a large variety of firms as soon as you can.
As far as going from no-name boutique to MM funds/Megafunds go, it is very rare, and usually only occurs when you have senior management really willing to bat for you.
This is pretty spot on, you are very late to the process right now.
I was still looking for a gig in IB in Febuary my senior year and landed a spot at a boutique bank in late March. It can be done for sure.
While working my ass off at the boutique, a well regarded middle market firm I interviewed with 9 months earlier contacted me with an open spot. I had a quick phone interview and got the offer. Been at the new place for a month and have been working on some great deals.
My advice, don't give up. Many new hires at bigger firms with turn out to be pu**ies and spots will open up. Lateral FTW.
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