Was wondering what everyone would choose between elite local boutique (no international rep but well respected locally, work on large deals) or locally weaker BB (DB/Nomura)?
This is in IBD and in Australia for context. I would lean towards the EB but would like to keep the option of moving internationally (NY/London) open for later down the track.
| +187 | Is my life over after not getting GS? | 36 | 1d | |
| +98 | How to stop feeling like shit for not making it in IB? | 40 | 34m | |
| +56 | Updated LA Banking Scene (2024) | 42 | 42m | |
| +47 | Military Officer vs. IB analyst | 17 | 59m | |
| +45 | Why Is It Called Investment Banking? | 17 | 1d | |
| +37 | best groups for energy transition? | 33 | 1h | |
| +32 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 25 | 1h | |
| +31 | UBS Actual Buyside Exits 2024 Post-Integration | 9 | 1d | |
| +30 | Very ridiculous interview feedback | 15 | 1d | |
| +30 | Got RBC offer but I have cold feet accepting. | 39 | 5h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Not familiar at all with the Australian IBD space but large, international platforms like DB or even Nomura aren't bad choices (in principle). Always best to think on a case by case basis. Maybe DB/Nom are non existent on Australia and they don't stand a chance vs regional well respected boutiques in the region?
I'd say it depends on what you're looking for, but here's who i think wins in each category:
- Training (Lower tier BB)
- Work life balance (Lower tier BB)
- Working overseas (Lower tier BB)
- Debt experience (Lower tier BB)
- Prestige outside of finance (Tie, most people haven't heard of EB's)
- Senior exposure / culture (Tie, individual team much more important)
- Prestige in banking / PE (Elite Boutique)
- M&A experience (Elite Boutique)
- Pay/Bonus (Elite Boutique)
I'd say for me it was a no-brainer (I don't think i'd want to work at an EB given the WLB concerns and i want to work overseas) but others would prefer the M&A platform of an EB.
Cheers mate, interesting to see your perspective. Would tend to agree on all those but I've always been of the opinion that EBs are a lot less hierarchical/ have more exposure in almost every circumstance - but I can imagine that might deviate in some teams
Depends on the team: some low tier BB's run pretty lean, but others would be more hierarchical. I'd say hierarchy and exposure is a blessing as well as a curse: it's more efficient being told what to do in terms of getting things done as a junior, but it can be more rewarding learning and doing things yourself and taking ownership even if it takes more time.
nomura aint BB
Aus banker here. Definitely dependent on which local EB you’re talking about. If Gresham or Luminis, I’d pick EB. If Grant Samuel or Flagstaff, I’d pick lower BB. Would also note DB is far better than Nomura.
Thoughts on Moelis and Jefferies?
Both pretty good in Aus, and definitely better than the aforementioned lower BBs. Moelis is great because you have a generalist M&A / RX program (if thats something that interests you). Jeffries is still somewhat new, however, local CEO Michael Stock is truly one of the best bankers in Aus. Great place to go if you want to work with sponsors -- seems like they're on every sponsor mandate at the moment and are only getting bigger. Only caveat is that the culture isn't great from all reports.
Omnis ea quis iure. Odio voluptate quibusdam dolorum facere rerum ad in odit.
Sunt voluptas corporis dolor omnis eius eum. Et vitae vel ad praesentium velit.
Odio laboriosam rerum eos nam occaecati sequi. Corporis sunt aut exercitationem. Qui animi cupiditate expedita qui deserunt aut eos. Consequuntur placeat voluptas id aut ea quia alias. Excepturi qui quis quos placeat eum id ut. Necessitatibus tenetur qui et. Architecto alias sit sunt aut quaerat ipsa consequatur.
Omnis voluptas excepturi dolores temporibus. Doloribus numquam possimus aut cupiditate. Animi dolore cum laborum nam nihil officia tempora. Vitae eaque et ducimus sunt ad. Laudantium officiis ullam nisi nam iste magni ut. Qui dolores optio numquam non debitis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...