So I've been working at a tier 1.5 bank for the past 5 months, started in the class of 21. pay is same as the bulge maybe slightly lower than the revised numbers this year, hours pretty good, deal flows decent. just got headhunted and went through a couple of interviews and got offered a role at an elite BB level bank, (e.g. evercore, moelis level). pay is defo higher and bonus as well. hours will probably take a beating. what should i do?
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Grass isn't always greener. The pay might be a step up, however, you could get put on a team that works nonstop, boss might be a micromanaging dickhead, etc. If you feel good about the team and experience you'll gain, then I'd say go for it. If you take the role, I would highly recommend you stay for at least 2 years. Back-to-back short stints is not always the best look!
Hope that helps
during the interview process, i asked about the team style and seems like they arent micromanagers and its flat in terms of responsibilities you get. e.g. as an analyst, if they see potential u may be able to manage your own deals. they've been involved in the largest deals in my region and by large i mean 40bn deals and stuff like that. in terms of leaving after 5 months, is that okay though?
I mean, they aren't going to say that they ARE micromanagers. An analyst will never run deals at a large firm, if they see potential they'll put you on larger/higher stakes/higher stress deals, but that's all
What are your goals? Do you want to do MF/UMM PE or are you looking for corp dev or something chiller? I wouldn't jump just for prestige and small pay increase given the hours difference, but if you don't expect to have good exits from your current spot that's a more calculated move.
Agreed with OP. They're not going to tell you that but you should've been able to get a feel for them during the interview process. I usually will contact other junior members and pick their brain (they're usually willing give you non-BS insights). As OP said, no reputable firm is going to let you run a deal as an analyst. Having a life outside of work is way better than a slight bump in prestige/pay.
You really want to manage a deal as a six month analyst? You think you're qualified to do that?
hmm of course not and id rather not tbh. but i think the idea is that their structure is flat and ideally non-micromanaging in work culture. but yeah guess i will never be able to judge their workstyle until i join
Is current bank you're at a well-known bank? If not, I would seriously consider taking the Evercore/Moelis gig. Those are top names on the Street, and that opportuntiy might not come along again anytime soon. Not saying to defintely take it -- but if it's a substantial move up in brand name, should consider it because -- even if new place doesn't work out -- at least you will have this great brand name on your resume.
its well known but not as well-known as jpm/gs level. i wouldnt wanna disclose the name here but i can pm you
Wtf does tier 1.5 mean
I’m interviewing for a tier 1.36 bank, curious to know as well.
basically where the ev ebitda of the firm trades lower than its peers so we discount the tier
Know a non-target alum who jumped from a mid-tier BB coverage group 6 months in to a top group i.e GS TMT/MS M&A /EVR M&A and then got a MF offer on on-cycle, largely because he jumped to said elite group and got good headhunting and reps which is all meant to say - what's your goal for jumping to a better group??
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