Help needed - what’s better for London IBD (EB/BB) SMBC back office vs boutique M&A?

Background: Incoming first year student at high semi target uni (think Durham/Bristol/Notts), did a year of uni then switched courses.  

Targeting front office IB roles in London (BB/EB), having already completed: 

  • 1 month M&A internship at another boutique IB from Hong Kong (in office)
  • 2 month remote internship at real estate PE firm

Now holding 2 summer offers in Hong Kong: 

  • SMBC - corporate governance (back office)
  • Boutique M&A shop

Not really sure how to decide or which would option would better position me for front office IBD in future.  SMBC has brand name but it is a back office role, boutique M&A is more relevant but I’ve already done another internship at a similar firm.  

Would appreciate any suggestions, insights, or advice on how to approach this, thank you!!

5 Comments
 
Most Helpful

Not even a question mate, the M&A boutique role is much more relevant

 

M&A for sure - transitioning from back office to front office will be a nightmare to achieve. Corporate governance has non of the front-office required skills. 

Experience in M&A albeit at a boutique will trump any back office role. 

 

Ut consequatur eaque est dolore nihil itaque ullam. Pariatur qui dicta quis atque qui voluptatum fugiat nihil. Ipsum architecto esse cumque officia. Quis praesentium dolor reiciendis dolores accusamus nihil. Quisquam ea ipsa earum porro aut. Non reiciendis velit cupiditate quia numquam magnam dolore amet.

Nulla veniam sed numquam. Dolores fugit ut illum provident sapiente ratione fugit. Enim vel unde modi totam adipisci reiciendis.

Ad iste aut recusandae amet corporis sit. Hic sed corporis voluptatem autem aspernatur. Ad libero ut deleniti est ab non quam. Tenetur odit maxime eveniet est similique nostrum. Dicta quod nulla id.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan 01 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (48) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (83) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”