Main goal is reputable MM IB (Harris Williams, KeyBanc, Baird, etc)
I have a Spring internship at a boutique bank, deal size around 75M so very small.
This Summer I have an offer as a FAANG Analyst or regional boutique doing deals between 100-300M.
Which offer should I take as rising junior internship if main goal is MM or EB
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Based on the most helpful WSO content, if your main goal is to secure a reputable MM IB role (like Harris Williams, KeyBanc, or Baird), the regional boutique internship with deal sizes between $100-300M is the better choice. Here's why:
Relevance to MM IB Recruiting:
MM IB firms value prior experience in investment banking or closely related roles. The regional boutique internship aligns more closely with the type of work and deal sizes you'll encounter at MM IBs, making it more relevant for your resume.
Deal Experience:
Working on deals in the $100-300M range is closer to the deal sizes handled by MM IBs. This experience will demonstrate your ability to work on meaningful transactions and provide a stronger talking point during interviews.
Networking Opportunities:
Boutique banks often have senior bankers with connections to MM IBs. Building relationships here could lead to valuable referrals or recommendations during recruiting.
FAANG Analyst Role:
While prestigious, a FAANG financial analyst internship is less directly relevant to MM IB recruiting. It may not provide the same level of deal experience or exposure to the transactional nature of investment banking.
In summary, the regional boutique internship is the better option for positioning yourself for MM IB recruiting. It offers more relevant experience, better networking opportunities, and aligns closely with the skills and exposure MM IB firms seek.
Sources: https://www.wallstreetoasis.com/forum/private-equity/thank-you-wso-community-qamy-story-target-state-school-non-mba-masters-mm-ib?customgpt=1, Q&A: 1st Year Analyst at MM IB, Breaking Into Banking: Your Timetable is Everything, Q&A: Non-Target -> 3rd Year Analyst MM IB
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