Leveraging an boutique internship into a BB FT position
I'm currently summering at a boutique i-bank. The people in my office are cool people, and I work well with them, but the deal flow isn't as much as I'd want it to be to get the kind of experience I want. If I get an offer, I'm considering leveraging it to get into a bigger firm with more deal flow, or even better a BB. I know this has been done before, so does anyone have any tips?
I know that it's a long shot, and if I don't get into a BB, I'll gladly take the boutique offer. It's just that I know there's the possibility, and if there's the possibility, I want to know I tried.
Similar case as me...anyone any advice?
bump
Boutique SA into BB for FT (Originally Posted: 02/01/2012)
I have just accepted an offer for a summer intern position at a regional (West) boutique IB and am currently at a top 25 liberal arts school (West) that is a complete non target.
My question is: how do bulge bracket firms view regional boutiques from a full time recruiting standpoint? I know there are a lot of variables (networking,etc.), but overall, does boutique experience make someone a (more or less) competitive candidate coming from a non-target going into BB recruiting?
I spent my SA experience working for a single office boutique shop w/ Corp Fin deals in the 20-80mm revenue range. Was able to make a significant impact during my time there, work on live deals, and could speak to my heavy involvement both on my resume and in interviews. I go to a semi-target in the South and got an offer for next year in MM in New York.
It's hard, and networking will be imperative to your success, but once you get the first round interview you're able to distinguish yourself.
Any IBD experience is really helpful, but all things equal you will be at a disadvantage to people with a blue-chip internship. You need to go above and beyond to get yourself some interviews (especially if 2012 FT is going to be like 2011 FT), and you also have to make sure you get an offer because you will get asked that in an interview
It will set you up well for BB on the west or any top MM in the US. Im a nontarg had a regional boutique SA and had 4 BB superdays for FT. I am also from the South.
I think a better bet would be to apply for a strong boutique FT- Evercore, Moelis, Perella, Centerview, Greenhill etc. or MM firm like Jefferies, Piper Jaffray. Those places sometimes hire a lot or even a majority of full-time analysts from people who summered elsewhere (including lower-tier BB). Most BBs get 95%+ of FT analysts from SA and will be unlikely to take student from non-target for the remaining 5%
Mind if I ask what company it is?
Honestly, the brand name of the company doesn't matter as much as you think it does. For SA, experience carries a lot more than brand name. Of course it'd be great to have GS or MS on your resume, but you're gonna be doing the same shit as a SA no matter what bank you go to, given that it has a legit SA program. I would even argue that your experience at a regional boutique might be better, assuming that firm gets enough deal flow. I have seen plenty of kids that didn't do banking or summered at a no-name bank during FT interviews. Bear in mind though, FT recruiting is always competitive as hell, especially at BB's. A lot of BB's don't do FT recruiting, and those that do, interview candidates as a "backup" or for very few spots.
To be honest, any SA IB stint is going to be very helpful to you. Whether or not your boutique is a brand name or not might help for resume screening but you still need to: Network, Network, Network. Make sure you are getting good experience this summer, try to get on some larger deals and track your results/what you are involved in so you can talk about that in interviews for FT.
i worked at a boutique for a SA position and ended up with a BB offer. you just have to network
bump! I know it's an old thread but would appreciate more feedback from those who went through it...
How to go from mid-tier boutique SA to BB FT? (Originally Posted: 03/24/2015)
If most BBs don't do official FT recruiting, what is the best way to go about getting a BB FT offer? Networking? I'm sure many incoming IB SAs working at lower ranked places are also wondering.
What is a "mid-tier boutique"?
I would suggest networking, but managing expectations by realizing how difficult FT recruiting is. Your number one goal should be to get a return offer from this boutique. "Did you get a return offer?" will be the first question asked, and if the answer is no, the interview will be over with before it even began since there will be plenty of candidates who not only did their SA at a BB, but also received return offers. Plus, if you have a return offer, worst case scenario: you work FT at this boutique for six months to a year and then try lateraling.
Thanks for advice. By "mid-tier boutique" I simply mean that it isn't an EB like Lazard / Moelis / Evercore and I guess is more of a MM bank with the size of a boutique.
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