disadvantages of botiques
So, not taking the prestige-factor into account, what are the disadvantages of botiques? Are the salaries much lower (at the analyst level), or only slightly? Would it be very difficult to get into a top 10 business school after doing an analyst program at a botique (with an undergrad degree from a top 20 school)?
From what I've been hearing (which may be wrong) it seems that the only major difference, at the analyst level, between working at a botique vs. bb is prestige and that the salary differences are trivial. I guess basically I'm trying to figure out whether or not it would be a good idea to go into ibanking even though at this point I think a job at a BB is a longshot. Would I be better off doing a few years at a place like Rutberg and then goign to business school or working for an engineering company and then going to business school (I have a 3.3/3.4 gpa in electrical engineering and economics at a top 20 school).
Thanks in advance!
well salaries are about 20% percent lower when it comes to bonus from what people said...but you also have to take into consideration that a lot of people got 80K in bonuses this year....so thats 16 extra thousand that you won't see.
better exit ops from a BB than a boutique.
but would the exit ops from a botique be "bad"?
and also.. a 64000 bonus on top of a 50k salary is not bad at all (in my book)...
it's very hard to generalize, but the main difference is that exit opps tend to be better at larger institutions (if your interviewer has never heard of the place you worked at, you're at a disadvantage). Some boutiques pay more than big banks and are very well known. Big banks also allow for lateral movement. Since boutique tend to focus on a particular niche, there's nowhere to go if you don't like that niche. If you want to do banking, and don't get a job at a big bank, go for a boutique for sure. You may end up loving it. But if you want to do engineering, that's what you should do.
no exit opp after 2 years in banking will be "bad" in the strict sense of the word.
but "bad" is relative...to a Harvard grad and GS analyst, "bad" may be a small-niche PE shop (with KKR being the only "good" exit opp).
others may think KKR is a "bad" exit opp, cause it eats up your life for another few years.
it all depends on what you want to do. if you are looking big name PE shop, its a heck of a lot easier through a BB
what about exit ops in terms of getting into a top 10 business school or law school?
and if one were to stay at a mm or botique bank, would it be reasonable to expect to make in the mid-six figuares by mid-30s as an associate/vp/md?
I thought they paid better at boutiques/middle markets.
pay in boutiques/mid-markets is better because they have to do more work with less people. cant say for all
has anybody heard anything about houlihan, Rothschild or sagent? exit ops worse?
only people working in the industry respond please
i got into PE from one of those boutiques...MM M&A shop.
it's all about prep for the interview and prep for the headhunters.
Pay at HLHZ was street this year but usually is a little lower. Exit ops in general are worse (PE shops AUM 50-400mm most common).
Why would you want to at Rutberg? Jesus Christ. That has got to be the shittiest investment bank west of the Mississippi. Everything wrong goes on there from what I hear.
To answer your question, do a boutique if you can't get in anywhere else then lateral the heck out to a good place at minimum like Wachoiva or Jefferies, both of which I truly respect.
dude, your gpa isn't terrible, considering you're studying EE and Econ, so wtf are you thinking about Rutberg? I mean think about it, if someone were to every say, "Hey, where do you work?", would you honestly have the balls (and lack of dignity) to answer with, "Rutberg"? I'd rather get recircumsized than be an "analyst" at an "investment bank" called "Rutberg".
Moral: Don't ruin your life, pal.
Hilarous. I cringe when I hear investment banks with only one name and Company (e.g. "XXX & Co."). LB, have you heard of Rutberg?
On a serious note, you're fine. Just hit the pavement and knock on as many doors. With your EE try a tech or healthcare group. When I was at my BB we loved Berkeley kids with EE degrees in the tech group.
Allen & Co.?
Right, Allen & Co., forgot about that one. That's probably the only "XXX & Co." that's legit.
Opticalcharge, I've never heard of Rutberg, but it sounds kind of like Rutgers, and we all know Rutgers is a p.o.s.
Spinoff thread: The disadvantages of working for a boutique or a boutique-like branch (Originally Posted: 03/18/2007)
This is a spin-off from a discussion I started in another thread, where tehre were some pretty good responses and I thought it was important to share with the board.
Other posters seemed to agree with me that working for an outfir like Lazard, UBS LA, or Perella can be a very bad idea as opposed to a BB like GS. While it is true that you will get great exposure and an amazing dealflow, your destiny will be dependent on several big names, who move around a lot - just look at how many places Wasserstein has been. Once the big name is gone, there is a very legitimate possibilty that the putfit will go to crap. For exmample, chances are UBS LA will not be the same if Moelis leaves and takes one or two other hitters with him.
On the other end of the spectrum you have banks like GS, which do their best to be associated only with their company name and not a one single hitter. GS ahs been extremely successful and, I think that at least to some extent, it is because whne a big name leaves, he doesn't take every single relationship he had with himself.
salam, could you provide a link to the other thread you started off
http://www.ibankingoasis.com/node/4513
The last several messages
Cons of a boutique? (Originally Posted: 06/26/2008)
If a boutique pays just as much if not more than a BB firm to associates, is there any real cons to going to a boutique other than less prestige/cache?
Also, has anyone here ever heard of Evercore?
from what i heard from my friends, boutique is a hit and miss. you can get a great boss who like you and give you real work or you could do nothing for a while. You do not get the structure or the training you get at a BB. Also the money you get to play with or the deal you get to work on is much smaller. Personally starting new, i prefer BB and the structure it offers. once when you know the job or feel like you are the choosen one go join a boutique or even better... start your own!
Yea, after getting canned by my semi-bb that went belly-up, im kinda wishing I went the boutique route this summer.
"Has anyone here ever heard of Evercore?" Surely, you jest.
Also, has anyone here ever heard of Evercore?
If you had an offer from these guys you would be what we call a baller.
These can vary considerably depending on the firm. But if you're thinking about going boutique they're definitely worth researching: 1. Training may be less structured 2. More responsibility without the requisite job title(s) 3. High level of accountability (so don't screw up) 4. Pay may be less than BB's over time 5. Fewer opps for advancement (really depends on firm) 6. Exit opps may be limited
.
From what I understand from my interview with them, they only hire the guys in programs like Wharton undergrad who have take 300-level finance courses. They also pay them like 2x street.
http://www.leveragedsellout.com/2005/09/the-boutique/
2x street @ Evercore? hahahaha, who told you that!? lol
Vault guide to top 50 banking employers, under Evercore (p. 184).
--
“Evercore pays top of the Street,” asserts one analyst. One first-year analyst reports “$70,000 as a first-year base salary” along with a “$15,000 signing bonus -in all, in my first year out of college, I expect to earn well over $250,000.”
--
hahahaha, i guess it was a good year!? lol
top of the street does not equal 2x street...jackass
Evercore pays top of the street, if not above street. but the vault guide made a typo, furthering highlighting its uselessness.
hehe yeah 2x would be ridiculous. but they certainly pay a lot, that's for sure!
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