HK No-name Boutique offer
Hi Everyone,
I graduated from a US top10 college for bachelor's degree without aware of how hard to break into finance. I graduated early this year, and did 6 months M&A at a no-name boutique in SF but got laid off due to inactivity of slow M&A. Then I started a mortgage lending job to save OPT, but I rlly hate the job. I recently got an IB offer from a no-name boutique in HK. Should I take this offer, and lateral back to US after a year? (when i got green card)
My long-term goal is to come back to US for IBD/PE.
I'd be hugely grateful for any insights here.
Based on the most helpful WSO content, taking the IB offer at the no-name boutique in Hong Kong could be a strategic move, especially if your long-term goal is to return to the US for IBD/PE. Here are some key considerations:
Experience Building: Even if the boutique is no-name, gaining IB experience is valuable. It can help you build a stronger resume and develop skills that are transferable to larger firms.
Networking in HK: Hong Kong is a major financial hub, and working there could provide opportunities to network with professionals in the industry. This could be beneficial for future lateral moves.
Timing with Green Card: If you anticipate obtaining your green card within a year, this could align well with your plan to lateral back to the US. Having a green card will significantly improve your chances of securing roles in the US without visa constraints.
Challenges of Lateral Moves: Keep in mind that lateral moves from HK to the US can be challenging, especially if the boutique lacks a strong reputation. You’ll need to actively network and leverage any connections you make during your time in HK.
Alternative Options: If you dislike your current job and don’t see other immediate opportunities in the US, this offer could be a better option to stay in the finance track rather than remaining in a role you hate.
Ultimately, the decision depends on your risk tolerance and how confident you are in your ability to leverage this experience for a lateral move. If you take the offer, focus on excelling in your role, building a strong network, and preparing for the transition back to the US.
Sources: The future of Hong Kong high finance, The future of Hong Kong high finance, https://www.wallstreetoasis.com/forum/school/shall-i-take-usd-160k-loan-to-attend-wharton?customgpt=1, No-Name Quality Investment Banks, Q&A: Ex-BB analyst across US and Asia in Oil&Gas/Power
Will be hard even with your green card, US banks don't really recognize Asia experience unless its in BB/EB
very insightful and happy 2025! should I stay in US mortgage and try to lateral into debt-related group? I know someone did this path exactly 7 years ago (from mortgage to DCM then coverage group at BB). Not sure if still feasible under current market conditions.
happy 2025. Should be doable if you network hard enough in the US, though I'm not too familiar with the debt side of things. On the other hand, also depends on where your current mortgage role is. Most DCM desks sits out of NY so it'll be tough if your current mortgage role is on the west coast
Take the offer and lateral to BB in HK and then lateral back to the US. May take a few years, but if that’s what you want then you’ll work for it
Thank you, thats what I'm trying to hear hahah
How’d u land it
Network with people in hk and shoot resume everywhere. It;s a number game
Worked in a “elite boutique” IB before, I have to say that the biggest disadvantage is that you don’t have a lot deal experiences when the market is down. Will it be helpful if you can even land a job in a big name bank to do IB even with less paid?
Thanks for reply and happy 2025! are you referring to big-name bank in US now? I believe it's kinda hard, as I interviewed with RBC and balance sheet banks for IBD back in mid-2024. (maybe my experiences too shallow). I'm wondering if I can lateral to commercial banking/ corporate banking in US then lateral to IB?
Happy 2025, monkey. Sorry, I can’t give you advice other than HK-related. But from my experience and what my seniors told me, from CMB/CB lateral to DCM team is a workable option here in HK, since the skillsets are quite similar. However, it still takes you several years: 2 years working as an analyst in CB, then move to BB’s DCM team. But one REALLY important heads-up for you is that CB/CMB jobs in HK are really Mandarin-focused, so I’m not sure if it will help you even lateral back to a CB/CMB job back in the States.
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