Are they comparable to ibanking? big bonus at the end? if not, how much lower are they. As well, what do the exit opps look like? I'm talking about an entry-level analyst role here.
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I thought thats just another name for an IB
Merchant Banking is not synonymous with IBD. It primarily refers to the principal investing arm of an IB. Some MB's can act as discretionary equity funds (i.e. DLJ Merchant Banking) and others can act as arms-length support to a bank's financial sponsor efforts (co-invest, mezz, etc.).
As far as pay is concerned it really depends on the group, I would imagine. For example, I believe the likes of DLJ goes through hiring cycles identical to any other standalone PE fund and pays accordingly in the associate role. Other MB's that operate closely with their respective IBD's probably use more analysts from hiring pool and pay should be close to IBD.
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