Looking to go to investing banking post mba. From what I read everyone seems to prefer BBs in general especially at the analyst stage. Is this the same leaving an mba? If I want to make a career out of banking and possibly stay till MD, are EBs or MM banks potentially a better option than BBs?
From what I hear EBs and a lot of others (Gugg/TPH/HL) will pay a higher base salary after school, usually higher bonus, the bonus is also cash, and I’m told the journey to MD is more meritocratic and the compensation at the MD lvls is a few split structure. I still feel like most mba candidates are gunning for BB.
Just wondering if I’m missing something obvious or do people still take BBs for the prestige and exit ops even post mba.
Thanks
Edit: Is the BB MD compensation much higher than EBs/other banks I listed (Gugg/TPH/HL/Jeff)? Just curious if this is a reason as well.
I don't have anything to add, but am interested to see the replies from more seasoned people here....
Following, also: hominem & any other Post-MBA IB/Ex-IB folks
bump
Interested...also, some of the schools publish what companies are hiring their students. Guess you can get a sense there, but the question still stands obviously.
Current post MBA Associate - the key here is that most post MBA associates don’t stay for more than 3-5 years. With that, having the BB on your resume provides more brand recognition later on in your career versus working at an EB that most non-finance professionals have not heard of.
Most people that don't work in finance have never heard of PJT, Lazard, Evercore, or Moelis let alone Qatalyst, Centerview, LionTree, or several other EBs. Most people pursuing a banking gig at the MBA level didn't directly work in finance before and probably won't be in finance for more than a few years, so their focus is on broad names with some casual prestige. There is an argument to be made that a role at a BB is better to move into a corporate finance / strategy role, too, which is probably the most common exit for post-MBA bankers.
Whether or not those choices are justified or best for you is another matter. It seemed to me, in NYC at least, that people seemed to self-select a bit into EBs or BBs.
A lot of post-MBA associates are coming from non-finance backgrounds, and working at a BB grants them exposure to a variety of products and coverage groups that most EBs or MMs don't have.
For prospective associates, I think the most important question is whether or not you want to do M&A. If you do, then it probably doesn't make too much a difference if you work at an EB or top BB M&A group. You will get exposure to great deals and good bankers in both places. Your success will probably depend a lot more on how well you fit into your group culturally, whether there is headroom for you at the time you are looking to get promoted (not something you can predict anyway), etc.
However, if you know that you don't want to do M&A or just aren't sure, then BB would probably be the better way to go. As a coverage banker, you will get exposure to everything under sun. At a BB, as well, I know of a handful of people who started in banking but moved into different areas of the firm like equity research, capital markets, etc. I certainly did not know what I wanted to do for the rest of my life when I was still in bschool, so I think there is some value in this optionality.
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