Merchant Banking vs Investment Banking

Looking to learn more about Merchant Banking. Thanks!

1. What are the differences in terms of exit opportunities for Merchant Banking? (VC, HF, PE, etc)

2. What are the differences between Merchant Banking and Investment Banking? (I have heard Merchant Banking is somewhat of a mix between IB and PE)

3. Pros and Cons of a long term career in Merchant Banking vs Investment Banking? (Salary, growth, responsibilities, etc)

+132	Hot take: I’d rather be at Desjardins than UBS for investment banking in 2026	20	21h
+111	Female bankers doing brand deals on TikTok (@emlywang)	31	20m
+100	Stop sleeping on UBS - it’s pretty good	31	5h
+83	UBS rolling out Enhanced Clean Desk Policy, bans deal toys	10	6h
+52	Hardest interview experiences?	37	20h
+29	Starting FT in a city 3 hours away, dad has progressing Parkinson's. Looking for advice.	2	1h
+26	People who work/worked in FIG IB at a BB: does FIG really pigeonhole you as bad as people say?	5	3d
+25	How casual to be with first year analysts?	11	13h
+23	Thoughts on Intrepid - Houlihan Merger	9	4h
+22	JULY 2026 CHICAGO BANK RANKINGS	1	4h

Career Resources