How many weeks is training and how much variance is there between banks, particularly boutiques vs BBs. Is the sentiment that BBs receive better training a myth? Also, does most of the training occur junior summer or once you start full time?
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MM here. FT training is 3 weeks for us.
Training is "better" at bigger banks, mostly because it's a full fledged, formal program whereas some boutiques that are a lot leaner skate by or hire extremely talented undergraduates who don't need that much training in the first place. Formal training usually starts in the summer for around a month (including accounting, modeling, PPT, etc but also FINRA exam preparation), but your real training starts when you hit the desk and start drinking from the firehose. Most of what you learn in training will be stuff you already know, or stuff you really don't need to know on a day-to-day basis.
If a boutique hires Training the Street would that put its training program on the same level as that of a BB?
Honestly, the training program doesn't really matter so much. You can judge the quality of your overall experience by the bank and group alone. No one would take one firm over another simply because they might have "better training"; there are so many other characteristics that matter more, like deal flow, size of group, which coverage/product group, group culture, location, known exit opportunities, etc.
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