Should I leave the West Coast to NYC? (Multiple Exploding Offers)
Current Prospective Full-Time IB Analyst with multiple offers. I'm from the West Coast, SoCal (Semi Target) school.
I have some regional boutique bank offers in NYC + Middle Market shop offers in LA and SF. On the one hand, going to NYC would be a good change for me, and I actually prefer it from a location POV. However, the prospects are with 'no-name' boutiques (specialized CPGs, Tech Groups & Generalist shops), but the West Coast offers in LA / SF are from Middle Market banks with companies like BMO/Wells/KeyBank/RBC type firms.
At the boutique level, you get more reps, more ownership (larger bonus pool)? At the Middle Market level, the deal teams are a bit bigger, it's not a BB, but there is some street recognition but it isn't the best - plus I don't know bonus insights for MM - seems like a rabbit hole?
For long term exit opps, I'd like to stay in banking (not opposed to PE) but the dream would be to exit to an Evercore/Moelis/Centerview type firm and do IB for the long term.
What are your thoughts? How should I start my career out of college? I have until Oct 18th to decide my fate.
Do the MM role.
Experience is really the key here in terms of lateraling.
Don't you think I could speak to more deals from the Boutique level? Think about how deal teams are staffed leaner + all my friends who worked at places like Wells said they never even touched a data room / any live processes during their internships.
Let's say the Boutique specialized in the areas I mentioned above if I were exit to an EB within that group?
As someone who worked at both a regional boutique and MM, I would recommend the MM.
Also, your friend's experience is not indicative of the type of experience you will have. I would recommend asking the people you would be working with at both the regional boutique and MM about deal flow (including transactions they may be working on (to the extent of confidentially)).
I would agree with Eloquence's comment about it being somewhat easier to manage a transition from reputable MM firm to an EB than a regional boutique (outside a select few)...
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