A the title suggests, do boutique analysts get to interact with clients more? If the firm is small (say, 20 people), then wouldn't the analyst get the responsibility of talking a bit more with clients compared to the average BB/UMM analyst?
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I sure hope so lol.. that was one of my main considerations when I signed my sa offer
This is more of a negative because it'll entail more travel, which is not optimal while working.
Sophomore SA at small boutique (5-10 employees) currently. Our whole team is on every client meeting, including myself.
Sometimes I small talk with the clients, but usually they just have me take notes. Any questions I have for management I just pass up to my analyst or associate instead of asking myself.
They'll also make me hop on calls first while the team finishes up other calls and have me stall until someone more senior can get on, but the clients are all super nice and it's never too awkward.
Could I PM you to learn more about your journey of getting a boutique IB offer?
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Much, much more client facing.
At large MM as analyst and told no cameras, no interactions, if you receive one-off emails redirect up the chain, etc. This was not a "me" thing either- policy across the company. Only speak on calls if directly spoken to (aka never).
Interns was even worse - dial-in to meetings only, and permanently muted. Never speak, even if addressed. If someone asked "who's the xxx number dialed in" someone else responds.
Move to boutique, started running weekly pulse meetings immediately. Went to several MPs as an analyst, ran models, and helped MM companies explain their financial trends live at MPs. Fostered relationships at MP dinners with buyers / management. Every CEO for live deals I'm on has my personal cell, and calls me (often to discuss / give directive, but surprisingly often they ask me for advice).
Difference is night and day, especially for development. I think decreasing returns hit once a mid level associate, as that would be the role at BB as well - and higher class clientele to network with there.
what was the comp difference between the large MM and the boutique?
Believe it or not, higher at the boutique by ~$15k base (for An). Large MM was oriented towards "lifestyle" at the time. Keep in mind this is all pre-COVID times, so this may well have flipped
HL analysts themselves will sometimes run calls with members of the client team. Obviously, there are varying levels of importance for calls, but they certainly get to interact with clients.
what group?
HC and IG. Cannot speak for other groups, but assume to be similar experience.
Same at another top MM. Have gotten to the point where I will call the CFO directly for model questions, drafting sessions I lead with just me and an associate and the CEO, etc
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