Hello Monkeys,
Would be curious to hear if anyone has made the switch from a top MM bank to an EB. I really love my firm and have gained a ton of experience in a short time. As many on here, I have generally heard with EB’s, higher pay comes with higher hours due to the lack of support / additional headcount.
However I’m in a smaller team at my MM and carry a ton of responsibility (often working directly with the MD / D) and have to do everything myself anyways with little to no additional resources, which fortunately has given me a lot of marketable skills.
Going to wait and see how bonuses turn out this upcoming cycle but am getting more and more interested in making the change given the huge difference in comp (especially at the Associate level) and available exit ops.
Does anyone have any key differences they’ve noticed , experiences or any thoughts here?
Thanks in advance
bump, curious to hear if anyone can comment on BB vs. MM vs EB experiences and whether it really differs or not at junior level
Can speak on the difference between BB & MM (current MM analyst with good friends at the BB’s (MS / JPM / BofA)
Seems like at a MM you have a lot more responsibility. My friend at one of the BB’s above mentioned how within his team certain analysts are responsible for certain items / work streams (i.e. one analyst does public comps, one tracks precedent transactions, one focuses on x vertical while another analyst focuses on y vertical). Vs. At a MM bank, I’m responsible for every single one of those things. Another difference is the size of deal teams, it is pretty typical to be the only analyst on a deal while there’s almost always 2 or 3 on a BB deal team.
Lastly a nice difference is client interactions. As a first year I’ve been able to do site visits, attend MP’s, contribute on calls with management teams, communicate directly with CEO / CFO, while at a BB seems like that is an associate and up thing.
Just my 2 cents, I’m sure someone could point out more differences
You hit the nail on the head with MM requiring more responsibility at the junior level.
I was a lateral hire coming in from FDD (1 yeo) but by month 3 I was leading model calls and talking directly with the CEO and CFO of a $500M business.
Me and the Associate ran diligence post-LOIs and the VP only ever got involved for process related items.
One additional difference is coverage vs product groups. Most BBs have guys who work purely on the pitch and CIP while another team handles the process. In the MM, you handle and touch everything. Leaner teams just like an EB. I have never been on a deal that had more than one analyst / associate / vp.
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