Evaluating the Boutiques
Accepting that BB is better than most no-name boutiques, what should a potential monkey be looking for in a small bank?
For example, one bank im talking to is a full service bank, but works on rather small deals. They claim to deal with a few specific groups, but not the whole gamut. A second works on much larger deals (claims it competes with BB's), but only on one very specific sector. Both banks probably have around 20 bankers in their firm.
For exit ops and overall learning experience, which should I value more?
Additionally, should I be placing deal flow above all of these factors? What else does a "good" boutique have?
Thanks in advance for the intelligent comments I am sure to receive.
And please dont ask me the name of the bank, or for my credentials, because you know its completely irrelevant.
I would take a strong, sector-focused bank that can compete with BBs (if this claim is true) over a generalist bank that works on shit deals any day of the week. As long as you have any interest in that sector, parlay your experience into a buyside gig with a firm focused on the same sector (do your homework going in).
When evaluating exit opportunities for offers, I always found the most insightful thing to do was to casually ask the first or second year analysts where analyts have gone after their stint with the bank (maybe not a suitable interview question, but appropriate for a wine and dine event).
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Definitely agree - pick the team that competes with the big boys. The exit opps would be better as would the experience of a bigger deal.
I'd say always choose a top 5 bank and then choose boutiques that compete, and then choose the midrange. Your bonuses, experiences and exit opps I think will be better.
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