MMs Vs B/S banks LDN
I have offers from a US MM boutique (think WB/Baird/HW) and from a global Balance sheet bank (think BNP/SOCGEN/Santander). I know in the US the MM boutique would be a no-brainer but I was wondering if things were different in London.
Honestly I think this is a good question. I don't think either (as a BUCKET) stands out to me as being significantly obvious. So it comes down to the individual bank more than anything else, and perhaps the team's track record, etc.
If you put a gun to my head to choose between buckets, I'd go with the BS banks (more recognised brand names in Europe, more exposure to different products, etc.), but I wouldn't argue against a different view, and there are specific MM boutiques I'd choose over specific BS banks
Would pick the BS bank over MM even in the US.
UBS is technically one of those. So was credit Suisse.
I would personally pick MM boutique. I had offers with RJ/Baird/HW and RBC/HSBC/BNP and chose the MM boutique before I got EB offer. Reasoning was more M&A exposure, prefer boutique vibe and culture to a big office with bunch of random divisions, significantly more pay and pay progression (think 75 vs 60 base an1 lol), nicer people
You had offers from RJ and HSBC.
Take the MM. Deal experience unparalleled, and in the MM shop you’re going to work on deals, the BS bank, it’s more likely it’ll be financing / random other work which isn’t as valuable for exits.
Santander is growing quite fast - right now I would avoid all the MM you mentioned give downsizing they are having in LDN, especially Baird and WB. Cannot comment on the other
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