I have a friend currently working at a small boutique in NYC. No name brand school but good grades and a year of experience under his belt. He is convinced that if he goes to an M&A group in a big bank in the south for 2 years he can boomerang back to a bulge bracket here in the city. I told him to be careful with that move but figured I would bring this to the jury. What do you think of this idea?
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The "M&A group" at a big bank in the south would just be their FIG team
"big bank in the south" is a contradiction unless you mean BoA specifically, which is already a bulge bracket post-Merrill
Think BoA Southern Office/ Suntrust / Wells Fargo
If he can land BoA in Charlotte then he can lateral to NYC after a year or two, depending on his coverage (think they do industrials down there at least?). Otherwise, tough luck coming from SunTrust Robinson Humphrey or Wells Fargo or w/e
Ok eliminate BoA. How tough of a time from the other two?
Needing to network a bit or need to win the lottery? Read that others have made the jump here on WSO but obviously anecdotal empiricism.
Very hard. I know a lot of people from Wells and Suntrust trying to lateral to NYC. I'm talking 90% of wells class.
Ouch. I'll advise he stay put. Best route from non-brand boutique would be what then, known middle market to bb? mba? or just network network network? (suppose the last is applicable in any scenario).
Question about something I overlooked.
You said analysts trying to lateral are having a difficult time. I'm assuming you mean after the first year. What about analysts from Suntrust/Wells moving into the NY buyside (MM) or into a 3rd year analyst position with a BB/Elite Boutique after 2 years of M&A down south?
Any different of a situation?
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