How big of a pay bump for you to go to an unknown boutique?
Hi, I’m currently a senior IBD analyst at a well established large investment bank (think HSBC, Nomura, jefferies etc..), based in London.
I got headhunted for a 3rd year analyst position at a tiny boutique with only a handful of people and one office in London. I’ve never heard of them and there’s no info online for them. They’re so small and unknown that they’ve never even been mentioned on a WSO thread haha.
I quite liked the idea of moving to a small boutique and being part of the growth so I said yes.. cut a long story short I had my interviews and have the final round coming up. I liked the firm, people and vision of the boutique but now I’m starting to think it is a massive risk for me going from a big bank to a tiny boutique no one has ever heard of, where I would be losing all current exit ops and saying goodbye to PE. So I feel I should be compensated for this.
Considering the market standard for a London 3rd year analyst is GBP60k base (GBP65k for some places) with 75-100% bonus, what comp package would you ask for to compensate leaving a large bank for an unknown boutique?
Thank you
Personally, I wouldn't do it. If you really want to work for a boutique then I'd try to at least make associate at your bank then make the switch. Boutiques are much different than the bank you work at, there is a lot of extra work that you wouldn't think of. If you aren't 100% set on the boutique life then definitely don't switch, you will only be limiting your options outside of banking. Also if this one bank you've never heard of wants you I'm sure there are others, if you're going to make the change then interview at other banks to know you're going to the right one.
about tree fiddy
Not sure that you would get a pay bump to go to a boutique bank. If boutique's paid more than BB banks, then everyone would want a job with the boutiques instead of with BBs. Which just isn't the case. I would go into this expecting that you will stay the same in pay, or even be offered slightly less for "more opportunity".
Strange that you haven't heard of them and that there is no online info about them. I am assuming this means they don't have a website. In fact, if they have a website, full-time licensed employees and a history of closing deals, then it might not be so bad. Also, not every bank is on WSO.
However, if there isn't any track record, online history of this company, then I would proceed with caution.
I don't think you would be losing exit ops, especially with PE. There are a lot of people that go from boutique to PE or boutique to something even better than PE (i.e. - own the business yourself, etc.).
Do they even do deals? There is some merchant boutiques that pay really well and do few solid deals a year yet they really fly under the radar... May be worth it in some cases but very few cases.
What are the backgrounds of the leaders at the bank?
If they come from well-established platforms and are in the beginning stages of building out their business - might be a good place to get in at the ground floor.
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