Moving from MS to a worse bank
Hey guys- i’m currently in the M&A group at MS and to be honest i’m kinda burnt out from the hours but love the work.
In general, would moving to a weaker brand name bank like for eg. TD Securities (or in this kind of range of banks) make my hours any better given they will have less live mandates?
What is the attitude at these places, is it to just pitch for anything and everything so hours end up being the same?? (more pitching, less live transactions)
I think it’s a bad career move to purposefully try to “lower prestige” think in the long run.
That being said I know some groups at TD are killing it, like there energy/development group or whatever it is.
The biggest thing you could do is change groups. M&A will always be the most grinded and commoditized group on the street. If you go to some coverage groups you could be less sweaty.
Totally agree with the lower career prospects.
Maybe I should’ve mentioned this but I don’t care really for PE since the hours are the same as now
Really trying to find out if moving to a ‘lower prestige bank’ in M&A will have any meaningful increase in WLB (willing to give up career prospects and some comp)
It depends on deal flow of the bank. If less reputable is because of deal flow (i.e. likely DB or a Santander etc.) then yes. But it’s entirely group dependent. Dudes at William Blair and Baird doing more hours than 75% of bulge bracket groups.
Group performance is almost directly correlated with your own bonus potential too, so keep that in mind.
Just so you know, this year particularly some coverage groups in MS work longer hours than M&A, not cuz live deals but just insane pitching - I’m in MS M&A and on 3 deals but still manageable, some coverage team just has very high churn (1 group had 4 ppl leaving), so you can tell
why is it a bad move to "lower prestige"? Seems like this is an overgeneralization..
Are you a woman? If so do TD
TD has a bad rep for dropping the bar for women dramatically. Groomer MDs paying and promoting them for existing.
del
Just transfer to FSG
I went from a mid tier BB to a Canadian. I think the hours are more or less the same but the competition and the stress are way less
Competition as in your peer juniors?
Yeah, like for bucketing / bonus
If you hit your head on a rock, do UBS
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