MM incredibly underrated?
Thinking about the difference between MM and BB for investment banking, and can't see how MM isn't the better option. Almost identical comp (~$120k for an analyst), more personalized setting (quicker learning environment), more responsibility, way fewer expenses (living outside NYC), and often fewer hours too. I get that exit opportunities can be better at a BB, but if that's the only thing, I don't see why MM isn't a far better option.
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I have an offer from both and am deciding now. I can confirm the comp is identical, though, but the bonus would be higher at BB.
Comp is not higher at a BB
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>unsolicited career advice from an asset management intern
Deal experience. Cranking middle market shitco sellsides vs strategically advising Fortune 500 companies on their next acquisition? Easy pick if you have a choice. Nothing wrong with MM if you don’t have a choice though. The reps of cranking MM tx is helpful for buyside MM PE
A top MM experience can be comparatively valuable to some BB experiences. Stressing the can. People define MM differently so the comparison can get difficult, but there are MM groups that work on a ton of ~$700M deals with occasional multibillion dollar deals. There are LMM groups that do only $25M deals. The experience differential to the best and worst group in the MM is wide. The best MM groups pitch against BBs and can exit to top MM and UMM funds and yes if you like the group/culture/experience better there can be an argument made for MM. It's very showing when people talk down on MM immediately that they haven't been in the industry for long. There are some great groups at Jefferies/Baird/HL who are well known in their verticals.
That being said, obviously GS/MS/JPM/etc will always get picked over MM, and it's clear why. Same with CVP/Evercore/etc. But if your goal isn't MF PE, MM can be a great route to the finance career you are interested in. Just remember not all MM experiences are created equally and some will be leagues better than others.
No man. If you want career in middle market financial services and potentially investing it’s fine. You’ll make good money. The $30Bn F500 strategic acquisitions get done by GS. You can use that experience and end up the CEO of a F500 down the road, can’t say the same about Lincoln. And it’s not just the experience, it’s the people you’re around. It’s either the sharpest people or the most connected. There is a lot value in that beyond cranking slides or tuning projections.
Congrats on RBC Analyst 1
Thanks, would love to hear more about your time at Baird! Exciting!!
I need what you are smoking, you aren't going to become the CEO of an f500 because you once worked on an F500 M&A deal. Most IB analysts go into PE or other buyside roles, the real difference is perceived prestige for business schools and what kind of PE roles you get recruited for.
Thanks for the input, congrats on Houlihan!
I CANT SEE how any ivy league is better than UOregon!! You can get a good job from UO!!!
I simply cannot comprehend why anyone would want to have a 4.0 GPA versus a 3.3 GPA
If anything, any MM advisory probably makes entrepreneurship look really underrated even at the granular SMB (small / medium sized businesses). Friend of mine does LMM advisory services at a boutique firm and some of the payouts for equity owners selling their business to a PE rollup / tuck-in are pretty awesome (low 7 figures up to low 8 figures split between 5 or so people). A lot of quiet wealth made that way.
Just don’t want to sell my soul to a job because it has “prestige.” Would rather make the same amount of money and have a better life ig.
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