Regional Boutique vs MM IB for FT 2025
Hey guys, just received offers from both for full-time and am struggling to decide which one to pick. The regional boutique focuses exclusively on sell-side M&A and is a really small shop with a solid overall culture. The MM on the other hand is a large balance sheet bank and it seems like analysts focus more on capital markets than M&A. My ultimate goal is PE for context.
Pay: The MM pays better; same base salary for both but higher bonus for the MM
Location: The MM is in my most preferred location while I would have to move across the country for the regional boutique
Exits: This is where I'm torn. The MM is a more well known name but the experience I'd get at the regional boutique seems better (exclusively M&A as opposed to a ton of ECM/DCM work). Not sure which would yield better exits though.
Would appreciate any thoughts/comments from people below. I know how lucky I am to be in this situation (especially in this market) but don't want to make the wrong decision. Thanks in advance!
Lateral market might be improving. Could do a year at MM, then try for a coverage group at BB. Probably depends on ur alumni connections.
Also look around on LinkedIn to see where people have exited to
How much easier would it be to lateral from the MM than the regional boutique? I am in a similar position as OP and leaning towards a LMM boutique that's more M&A focused with the intent to lateral
curious about the same thing^^
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