MM PE or Boutique IB
Trying to break-in FT IB and currently offers from a reputed MM PE and a small boutique IB. Both in NYC. Which one should I take?
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What's your end-goal, IB long-tern?
This is only for summer (I am a junior). Not sure where I want to go long-term, but that's not the concern right now. Right now I just want that BB FT Analyst role, (if it's even possible at this stage).
Any chance of Full-time at the PE?
Is this reputable MM PE in the 5bn AUM range, or are we talking the lower MM?
This would be my question as well, in addition to the reputation/dealflow of the boutique. OP, feel free to PM me the names if you want an opinion on that.
Not exactly a good AUM cutoff for "lower MM"
I say 500MM - 1Bn lol
What are the roles at each firm?
If it's a reputable boutique IB and a not-so-reputable PE shop (in line with that posters above said) go with the IB, especially since you want FT IB after...
I would agree that it really depends on the size of the PE. In all cases, if you want FT IB, then you should go for IB.
Yes, but if you want PE down the line and think this might be a way in, why not skip IB and go straight to PE? That's why I asked about your long-term goals. If IB, go IB.
I agree with you wholeheartedly. But it seems like the OP doesn't really know what he/she wants except that he/she wants to work FT at a BB. In that case, I think the skills you learn in IB are more transferable into many different fields. Of course, this is with the caveat that the boutique IB holds a reputation.
Middle-Market PE shop or strong boutique after undergrad (Originally Posted: 09/20/2008)
What do you guys think about jumping straight to PE ($1-2billion fund) after undergrad vs. going to some of the boutiques out there like lazard, greenhill, evercore, blackstone m&a, hlhz?
Personal choice -- take the top boutique over anything short of Blackstone, KKR. can always go back later on; better to get the training and experience you need first. Do you really want to be working next to ex-bankers who think you can't format a graph?
congratulations on getting all those offers, especially in such a bad market!
Honestly, both are great choices. If you want to best position yourself from a learning prospective and seeing all sides of the table, go to the boutique first. If you're looking to coast through your pre-MBA years, stick with the PE firm. Certainly can't go wrong.
~~~~~~~~~~~ CompBanker
Small PE firm or boutique I-bank? (Originally Posted: 05/14/2013)
Would it be wise to take an entry level position at a small PE shop or start out at a boutique I-bank if goal is to eventually end up in PE/VC?
Your question is whether you should take a job in PE or IB if you want to be in PE? Am I missing something here?
go for PE
Could the more experienced PE guys please comment here on the feasibily of "moving up" in terms of fund sizes and preftige? My understanding is that you'd actually be in a much better position to go to a mega fund in the mid-term by entering via BB M&A, although I've seen Directors at large funds that came from "atypical" non-BB backgrounds (could be a function of newly founded PE firms being creative about finding staff when the industry expanded back in the day, though).
Only 25% of BB analysts end up moving to the buyside.
That number would probably be comparable at a top boutique, and significantly lower at a smaller boutique, and the analysts there would probably go to mm or lower mm pe firms if at all.
I think it depends on the quality of the experience and whether you feel you could get in to a decent business school after a year or two at this place. From there, things could open up more significantly and potentially to better firms.
Whatre the profiles of these 2 firms?
It definitely depends on the firm. Also, something to consider is the amount of training you would receive at both. It is hard to move up to larger funds without the IBD experience. Most of the lateraling would be mostly network related. Location is also another factor. IE, if you're working for a $75MM fund in Charlotte, don't get your hopes up on moving to a $500MM fund in NYC, unless you've got some stellar networking skills or generate a deal at your current fund.
Depends on the deal size and flow at the boutique, but if the boutique has a good reputation and people have heard of it, probably better to go with that route. Although your work life balance will be different.
Agree with seabird and EightAceTres. The quality of your experience is what truly matters...though, that can be hard to judge up front.
Regards
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