PubFin at BB vs MM Coverage Group
Hi, I need to decide quickly on a summer associate offer. It is down to either an IB direct placement into PubFin at a bulge, or a decently well known middle-market/boutique investment bank into their healthcare group.
Which would be the better option to break into IB as a first year MBA student. I am not too interested in public finance and just want to do investment banking. The bulge obviously has a better name but I do not want to get stuck in PubFin. The healthcare group would be more of a pure IB role, i.e. equity/corpfin.
Any suggestions would be appreciated.
What kind of MM are we talking about? If it's along the lines of PJC, HW, William Blair, Baird, Jefferies, etc. I would take the MM offer without looking back. I would base my decisions on deal flow of the boutique, you don't want to work on pitches and a couple co-managed $50M offerings all summer either...
Definitely less deal flow than the ones you mentioned. They probably do co-manage more deals under or around $100M than I would like.
Ya man, you really don't learn much working on co-managed deals. If it were for FT, I think you would learn more at the BB, but to use as leverage, I'm not really sure. Maybe some of the more experienced monkeys can chime in. Your definitely in a good place though, just work your but off at either place and leave with an offer that you can leverage into better offers.
Right, I suppose the questions is - which one would be the easiest to convert into a standard BB full-time offer next year?
Mmmm.. I would thing the BB spot....
Is the firm known? Can you tell us who they are?
This BB, is it JPM/GS/MS or lower?
Yes the BB is one of those three. The MM acts as book-runner on very few deals, but I still think that the actual job function will probably do more for me opposed to just doing debt/muni financing at the BB. I'd rather not mention the names since I do not know how many people they are bringing in for the summer at either place.
I've been told it is difficult to lateral from PubFin to a different IB group/generalist pool. So I need to figure out if it's easier to get into a coverage group at a BB from an internship in BB PubFin or coverage at a smaller firm?
I could still really use some help with this if anyone out there has a better idea - which one is easier to convert to a full-time BB regular IBD position?
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