Is it really that possible to start in Investment Banking through a boutique?
I have seen this many times on WSO. Someone this week, for example, said "I have a 3.4 GPA from a non-target as a stem major, can I get into IB?" and everyone was telling the person to go for healthcare-focused IB's. Now this got me thinking: can't anyone then make it into IB if they have a 3.7+ from any school as a finance major if they start at a boutique? Is my thinking flawed? Are small boutiques really as easy to get into as they are made out to be on this site?
Lol boutiques are a great entry point if you aren't the most solidified candidate. I went to a non-target and now working in NYC I find it funny thinking back how the boutique guys who would go on campus would overdress and act like gods, then discovered they only made like $50k, maybe $80k all in if lucky. Boutiques pay okayish, still great for fresh out of college, but always found it funny how they talked about themselves.
Do boutique guys only make 50k? On the WSO database I see NY based boutiques pay between 80-130 all in. OP didn’t specify location though.
NYC, I assume most people use boutique as a blanket term for "non-major city investment banking" so think boutiques in tier 2 and tier 3 cities. NYC boutiques pay well I'm sure, but I mean more for non-major cities.
how hard would it be to get into an NYC boutique? If one kept up a 3.7+ GPA, networked religiously, and stayed involved in school, would it be relatively simple to get a job in NYC at a small boutique firm? Im wanting to go to NYC for future LMM PE opportunities, which I assume would be better if I was in the city.
you're essentially asking "how hard would it be to get a 9/10 girlfriend if one was handsome, consistently gave her attention and took her out on a lot of dates?" The answer is "not too hard, but the it's less structured"
Could you DM me I need advice on the boutique to BB EB path.
Don't personally know any but have heard many times not to expect a 6 figure analyst comp at boutiques (non-NY, regional etc.). NYC boutique comp can be lower or higher than BBs and are harder to compare to another. Where I'm at, only deal flow and who you work with matters, internally performance means more than title.
Entered few years after undergrad, shop doesn't extend FT roles and senior bankers outnumber juniors. Since I had work experience they knew I was asking for an internship solely for FT. 6 months of uncertainty but made my own role and got an offer. Comp difference post tax is negligible, free to choose my WFH days and leave around 6 on average and wrap up at home at my own pace, later if on many live deals at once. Not easy at all but since you know everyone there's no random outcomes you can't anything about when applying to larger firms.
Obviously an outlier example, but for every comment on this site you take seriously you should have an equal amount of contacts that actually work in the industry.
Received an offer from a very small niche boutique in NYC at 105k.
Go for cain brothers if youre at a nontarget. Best firm to lateral from to better banks
Why are you under the impression that Cain would even interview someone with a 3.4? You have no idea what you’re talking about.
Okay cain brothers analyst lol. I interviewed there and they really like the nontargets of the nontargets. He didn't say he has a 3.4 but its definitely possible to get an interview there if youre slightly below a 3.4 if you get on Danielle's good side. Quit acting like Cain Brothers takes the creme de la creme
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