If I will have done two summers (soph/jr) at a good BB by the time I graduate, should I try to lateral to a top BB for better exits? or an EB? I'm at a good bank but could be at a better one if I want to go into PE MF/UMM. Just wondering what that recruiting looks like.
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Based on the most helpful WSO content, if you've completed two summer internships at a good BB and are considering a lateral move to either a top BB or an EB for better exit opportunities into PE MF/UMM, here are some insights:
Exit Opportunities: Both top BBs and EBs are highly regarded in the industry and can provide excellent exit opportunities into PE MF/UMM. The key difference often lies in the deal experience and the network you can build. EBs tend to work on more specialized deals, which can be attractive to certain PE firms, while top BBs offer a broad range of experiences and a global network.
Recruiting Process: Lateral recruiting can be competitive and timing-sensitive. Networking plays a crucial role in identifying opportunities. Start reaching out to alumni and professionals at your target firms early to express your interest and learn more about their experiences. Be prepared to articulate why you're looking to make a move and how your experiences align with what they're looking for.
Considerations for EBs: Elite boutiques are known for their lean teams and significant deal exposure, which can be beneficial for developing technical skills and gaining meaningful experience. However, the culture and work-life balance can vary significantly from one EB to another, so it's important to consider fit.
Considerations for Top BBs: Top BBs offer a wide array of resources, global exposure, and a diverse set of deals. Moving to a top BB might provide a broader platform and more structured recruiting support for PE exits. However, the size of the organization can sometimes mean less hands-on deal experience compared to EBs.
Long-Term Goals: Reflect on your long-term career goals. If your ultimate aim is to work in PE, consider which firm type has alumni who have successfully transitioned to your target PE firms. Sometimes, the prestige of the bank is less important than the specific group you're in and the deals you work on.
In conclusion, both paths have their merits, and the decision should be based on your career goals, preferred working style, and the kind of deals you want to work on. Networking and conducting informational interviews can provide further clarity and help you make an informed decision.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/eb-vs-bb-long-term-and-exits?customgpt=1, PE Lateral Recruiting Advice/Stories/Help?, Top BB vs. Top EB - 2019 Future Prospects, Exit Opps, Branding, Etc., Lateral from MM to EB/BB, MM/UMM PE Analyst Exits
Bumping im curious
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