Post-MBA Associate: BB FIG vs EB
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Read the goldman sachs vs evercore thread, should answer most questions.
Imo id take the EBs over BB (maybe aside from GS) anyday
What sub-vertical within FIG interests you? Banks, spec-fin, insurance, fin-tech, asset managers... You may want to assess how likely it is that you can place in the one you want. Assoc friends in FIG have said most everyone is gunning for fin-tech.
I would take MS/JPM FIG and see if you can position yourself for your ideal sub-vertical this summer. You can always revisit EVR after the summer.
If your goal is to become a career banker, then it's better to start at a BB. With the exception of restructuring, it's difficult for junior EB bankers to build meaningful client relationships. If you look at Evercore's IBD team page, you'll find almost all the MDs started at BBs. Despite M&A is seen as more prestigious, financing capability is extremely important.
Is the fact that a lot of boutique MDs came from BB a function of the lack of career progress at EBs or the fact that EBs were mostly founded in the late 90s and grew a lot in the 2000s?
Can't speak for MS but I know JPM FIG is killer - arguable top on the street. Did a lot of the capital raising and distressed M&A for other big banks during the last recession. Heard the hours/culture is absolutely brutal, but with the intention of being a career banker I would take that offer. With its "pedigree" i'm fairly certainly you could always lateral to an EB after, might be harder to do the reverse.
Could you please expand on JPM FIG culture/experience? Have seen very negative things on WSO but all secondhand, wondering if you have more specific information. Thanks!
Personally not a part of it but networked with an alumni who was a few years back so my information might be slightly dated...
He was a for life banker and really enjoyed his experience there - very intense guy from what I could pick up. Very adamant in his high expectations for the analyst & associates that worked under him, but overall sounded like a very rewarding work experience. Wish I could expand further but as i said this was a few years ago and have not kept in contact with him / know anyone else in the group.
I used to work at MS post bschool. I recall MS FIG being a well-respected group. However, I do know 3-4 people in that group who did not enjoy their experience. I believe the group has a tough culture, so I would suggest you look into that.
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