I'm currently FP&A Director at a LMM Specialty Manufacturer in the Midwest that is in the process of being acquired. I have aspirations to eventually make it to the buyside, and I recently secured two IB job offers which was a big win for me. The issue is that I'm kind of torn on which I should take. One is from a MM firm (not EB, but a well known firm) as a Senior Analyst in their Atlanta office, and the other is as an Associate at a very small 10 man shop in NYC. The current company I'm at interviewed both firms to advise on our deal, which is how I made the connections.
The Senior Analyst gig is very industry-specific, in a very busy group. The recruiter told me that this office is currently their busiest with lots of deal flow. The small boutique in NYC was founded recently, and closed around 10 deals this year, but the Partners have been on the street for 20 years and came from a well known shop before starting their own. They have offered to connect me with bigger BB/EB/MM banks in NYC after a year of working with them if that's what I want, and I would get a lot of client exposure in the role. Some of their former analysts have placed at Goldman, Ares, and Morgan Stanley.
My concern is that the lack of brand recognition behind the NYC firm would limit my exit opps. The MM shop is better known and I would assume provides better exit opps, but I would be doing classic analyst work, with little to no client exposure. My goal at either firm would be to put 1-2 years in and eventually lateral to a bigger, better known firm. Does going to the small shop (although pay is higher, culture is better) limit my exit opps? How important is actually contributing to/closing deals vs. working at a firm with more brand name recognition? The NYC shop obviously works on smaller deals, although I would be very involved in every step of the process from origination to closing.
I want to do deals and be in IB, but don't want to start off on the wrong foot. Any advice would be appreciated. For what it's worth, I'm 25 and graduated from a non-target.
There isn't a clear answer here to be honest and I think it would be helpful if you PM'd me the names of the two shops and I can give more specific advice. Some comps for the MM would be helpful as well.
I would lean towards the MM especially if you aren't tied to working in buyside in NYC.
Will do, thank you
10 man shops that have been started by a "partner with 20 years of experience" are dime a dozen. Much better off starting at a more well known brand (assuming that's the case with the ATL MM shop) and trying to leverage that brand in lateral hiring. Also, the idea that these guys will support you in your move to a bigger bank is... suspect. They have little incentive to do so, and frankly it's a tough market at the moment. Very few banks are looking down market at no name banks to hire analysts at the moment. Can't speak for the MM bank you're looking at currently, but i would say that marketing off the brand does matter a lot
Middle market. You’re better off with the branding, you can always lateral later.
is ATL MM Truist?
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