IBD: LMM vs EB
I'm an Associate at a lower mid market investment bank and I now have an offer to join one of the top EBs (Centerview/Evercore/Lazard).
I've never wanted to leave in the past because my hours were so great with such a friendly team and I am also paid market standard. So despite being at a low ranked IB, I'm earning the same as those working at a BB and working half their hours so on a per hour basis I'm probably making double them.
Plus I'm also much happier given the culture and hours. I work on average 9am to 7/8pm and finish earlier on Fridays around 5pm with no weekend work. Not sure this exists in the IBD world outside of my team/firm. Our culture is great, we regularly get taken out for drinks or events together. E.g. we go to watch sport games together, the guys play mini football games as a team, the girls go on mini spa days etc. It's truly an awesome culture I love.
We make good revenue as well, my MDs just hate the toxic IBD culture. They all came from ex BBs and moved here to create a culture that was less about "working hard" and instead "working efficiently and respecting colleagues" is what they always say.
They don't waste time pitching on stuff we have a low chance of winning and also only focus on tasks that genuinely adds value rather than making us do a bunch of shit that no one reads. E.g. if we was to do a presentation ours will be like 10-15 core slides whereas other banks probably have like 40 slides. We found that with this culture we're much more efficient, generate strong revenue and can pay everyone well.
However, I was headhunted for one of the top EBs and decided to just go for the interviews just to explore what was out there and I ended up receiving the offer.. They've given me 14 days to decide so I have time.
Although I'm having a great time here, I don't see a path for me to progress up the ranks and I also don't know what I want to do long term so feel the EB will open more doors e.g. if I wanted to move buyside or to a start up etc.
However, I'm aware the EB is a massive sweatshop with lots of horror stories online even one of the interviewers said their VPs and Directors often stay past midnight like wtf that means as an Associate I'm going to get f***ked so going from my amazing culture and hours to a sweatshop might just ruin my mental health.
Any advice what anyone would do in this scenario?
Following
Following
At a BB not EB, but if the idea that a director would work past midnight shocks you, you gotta stay where you’re at man. You’re golden. Sounds like a great team/firm that actually cares about employees. I get emails from directors at 4am a couple times a week lol
There is always the option to re-recruit down the line, if you’re happy with your current firm there’s no rush to accept this offer. Pretty high chance you’ll regret taking the EB offer in a month.
Don't chase the greener grass, it's just different shades of gray
Consectetur enim voluptates itaque. Temporibus rerum ab ducimus non fugiat. Est dolor autem voluptate et dolore tenetur iste deleniti.
Beatae est aperiam soluta enim maiores odit nisi. Nihil impedit et libero nemo quia consequuntur. Sed sunt in sed ab facere.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...