PNC IBD vs Unknown But Reputable MM M&A Firm

Title pretty much sums up the question. Is it better to start your career in a "IBD" non M&A firm like PNC or a reputable but relatively unknown regional MM M&A shop that has solid deal flow.

End goal is M&A.

Which one gives you better opportunists to lateral to a better M&A firm. On one hand I feel like the PNC brand name on your resume (in this example) gives you a lot of credibility but the MM M&A firm gives me the direct experience I'm looking for. Curious to hears thoughts from the community.

3 Comments
 

I would go for the M&A shop. You won’t get any relevant experience for M&A in the “IBD” Program. Any real IBD functions are handled by Harris Williams, and PNC actually makes it a point they’re not an IB.

Will say though, if you want to be a career banker, PNC is a great place to work. Compensation to hours worked is really good at junior level. Also low face time culture / not on call.

 

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