Starting Investment Banking Career in an emerging market vs US city

Question

Hello all,

If faced with the decision to start your career at a BB in an EM (LatAm, for instance) vs lesser known IB or PE firm in the US, which would you choose?

I feel as though the BB brand (especially if at a JP/GS/MS) can still carry weight to US buyside recruiting, particularly if one is already a US citizen and isn't looking at megafund recruiting.

Is EM experience as an analyst considered inferior to US experience? Are you stuck in that market if you ever want to go back to the US?

IntlBaller · Accepted Answer

I started my banking career in an EM with a BB and here are my thoughts:

Pros: you get to experience a new and potentially crazy part of the world. That’s why I did it. I remember one weekend when I was swimming with dolphins in what looked like isis territory. Don’t get that in the States. You can also potentially travel to exotic locations when (if) you can take vacation. Also, I find the deals super interesting. Multinationals acquiring local darlings, greenfield IPOs, financing for some local hot shot’s development in the middle of nowhere. It’s not typical but it keeps you on your toes.

hominem · Answer

If your goal is simply to transition to the buyside in the U.S., then you should not start off in EM even if it is at a BB. U.S. based experience would be more relevant to your next job. In addition, logistically, it would be very difficult to recruit in the U.S.

However, if you plan to go to business school and use that to make the transition back to U.S., then that could make sense. Business schools look favorably on international experience.

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Starting Investment Banking Career in an emerging market vs US city

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Starting Investment Banking Career in an emerging market vs US city

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