Hey WSO,
Thanks for your help with all my industry questions.
I'm wondering how useful it may be to put a firm with near-zero "prestige" (imagine a boutique with >20 employees, small deal size) on my resume, considering that I've got experience at more well-known firms? This is for an internship.
This may seem like a simple question to answer, however I'm taking into consideration the general path of alumni from said non-prestigious firm. Some LinkedIn research reveals that past employees have basically done nothing in banking upon leaving the firm - many are unemployed, moved to equally shitty firms, or have left finance altogether for non-career roles (stuff in sales, further education, data entry).
Is it worth working at a firm like this simply to gain experience? I'd be working mainly on valuation (LBO, DCF, comps, etc). My biggest concern is that the poor alumni quality may reflect negatively on me in the future if an interviewer knows the firm, as well as the possibility of the shop being so unknown that recruiters/interviewers view this as a negative.
The last thing I want to do is make it seem like I'm on a downward spiral of MM shop to MM shop to boutique to shitty boutique. On top of this, since the alumni network from the firm is weak, it provides little networking value.
What say you, monkeys? Has anyone been in a similar situation?
Prestige rarely mean much in this business. Those 5-man boutiques are making good money, otherwise they wouldn't stick around.
My answer would be the same for you regardless of SA or FT in your case. Since you have not secured other options, you definitely should pursue any investment banking opportunities whether it be at GS or a no-name boutique.
It is ALWAYS easier to get into another bank/lateral when you are IN the playing field. Use the boutique as a stepping stone toward greener pastures.
Good luck to you.
Could you expand on the concept of 5-man boutiques? I am interested as I am considering two similar options, given that's the reality in the area of the country I want to be in. I am currently a post-MBA associate at a top tier BB in an area of the country I despise. My base salary would take a 35%-50% pay cut, however they try to claim that the upside is a lot greater than at a BB. One of the two (the one proposing 50% base pay cut), has gone as far as offering to state in my contract that he will pay me $70k for each of the first two deals I execute. He says they have 8 in the pipeline this early in the year. Thoughts? Ultimately the decision is mainly driven by my desire to relocate to that specific area of the country where BB and major boutiques have no presence.
what year are you? if you can spin a good story out of it take it. i was in a similar situation feel free to pm
It's better than a gap on the resume. I was at a small MM (ca. 50 bankers) and it certainly helped, other SAs (there were 4 of us) went onto roles like F500 internal strategy, another MM Bank and one went onto a consulting firm. You need to leverage the network of the bankers.
OP, feel free to PM me.
Yes, it is worth it for the experience -- while it lacks the prestige, banking is banking, you'll just be doing it on a smaller scale. That being said, it's always better to have banking experience when recruiting for IB...there are only a few things I think that would be better - e.g. consulting or big co corp dev
Thanks for the advice, and thanks to everyone else as well.
I interviewed and found that it IS a legit shop, and I was immediately put on some solid assignments (already did a private company valuation, debt financing deal up next).
Thanks again everyone!
Glad to see that it worked out
Insight on no name boutiques in NYC (Originally Posted: 06/25/2017)
I have a couple friends that will be starting as analysts at no name boutiques in NYC. Lower middle market deal size, close around 7-10 deals a year.
Their base salaries are both around 70k but they have no idea what the bonuses would be like and I am curious as well.
Has anyone on here been an analyst at a NYC boutique that many not people have heard of that could give some insight?
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