HL FAS vs smaller tech boutique

Hello,

I currently have a couple of offers, and was hoping to garner some opinions.

I have an offer at Houlihan Lokey FAS in a west coast office (LA/SF), as well as a technology focused boutique IB (think pagemill/union square/FT Partners).

Which one would you take? HL pay is street, while the boutique is street/slightly below street.

This is SA, although I am not concerned with conversion rate. I am more concerned with exit opportunities to other banks (either for FT or after 2 years), business school, and PE. Don't care about hours or rep.

Thanks in advance!

5 Comments
 

do you like tech? If so, definitely the boutique IB. Guessing it's not FT Partners since you're getting paid. Pagemill and union square aren't 'amazing,' but they're solid places, and if you network, you'll get interview opportunities for FT.

FAS is more fairness opinions, and your experience isn't as directly applicable.

 

Disagree with the above. For a summer, valuation experience might be exactly what you want for FT recruiting. The name brand at HL will help too. In the long run, I wouldn't recommend staying in FAS, but it's a tough call for the SA opportunity.

 
Best Response

Thanks guys, appreciate the advice you provided.

My thought process is that, it would be easier to lateral from a HL FAS to a smaller boutique, than it is from a small boutique to HL FAS. Would that assumption be accurate?

Strolling through LinkedIn, it appears that a lot of people in FAS have lateraled to the CorpFin group, as well as other banks such as BAML. I think I'm going to lean towards HL and go for the brand recognition and stuff. Plus, even with fairness opinions, it appears there's a lot of modeling and valuation work, which skillwise would overlap with banking. If I were at a boutique, it's not a given I would be given quality modeling work.

 
chawks

Thanks guys, appreciate the advice you provided.

My thought process is that, it would be easier to lateral from a HL FAS to a smaller boutique, than it is from a small boutique to HL FAS. Would that assumption be accurate?

Strolling through LinkedIn, it appears that a lot of people in FAS have lateraled to the CorpFin group, as well as other banks such as BAML. I think I'm going to lean towards HL and go for the brand recognition and stuff. Plus, even with fairness opinions, it appears there's a lot of modeling and valuation work, which skillwise would overlap with banking. If I were at a boutique, it's not a given I would be given quality modeling work.

You wouldn't really want to lateral to FAS from an M&A group and a shitty boutique probably won't give you the skills you'll need. FAS hires laterals from a variety of weird backgrounds (usually highly technical) to fill in their niche valuation requirements.

I agree with your choice. Just don't expect too much luck with internal transfers, as those can be a real bitch at the junior level.

 

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