Hey all,
Just received an offer from a top MM investment bank, and the offer is in NYC. They gave me an offer expiring next Thursday, so have less than a week to make a decision. While I'm confident I want to do investment banking, I'm a bit hesitant about taking the offer for two reasons:
Firstly, I am not confident in their exit opps after 2-3 years. While they have done well on the league tables (regularly top 5 MM bank for deal value as well as deal volume), it has been hard to gauge their relationship to PE firms/what the exits would look like. I am hesitant to give their name since they're a small shop and I'd be easily identifiable (possibly already am...), but am curious as to what the exit opps out of a top MM shop usually are.
Secondly, since this is still early in the process, if I accept this offer I am effectively ending my recruiting for other banks. I have made some good connections at two BBs and a few EBs, so am hesitant to take the MM offer. I have reached out to the connections I have at the aforementioned banks, but they haven't gotten back/have shared they won't be able to expedite the process for me.
Would love anyone's take on what to do. I don't want to let a good offer go by, but also want to make sure I end up at the best bank I could be at...
Thanks in advance.
I was in a similar process and turned down a lower BB with no other offer atm. Feel weird about it but didn't want to do the whole reneging thing.
This is a tough situation. Had a good friend of mine who was in a similar spot and turned down a lower BB (~2 months ago) and waited it out and got a top EB.
I think I'd probably need to know more information to give you my opinion, i.e. what exactly did the banks say when they couldn't expedite the process for you? Was it because their process isn't starting yet and they are refusing to do it for everyone? Is your school a target? If so, is it possible spots have already been filled? (hence the ghosting from some banks) Feel free to PM me if you want.
Congrats on the offer, but definitely a tough situation.
Tough situation for sure. Are you at a target? I would keep pushing for your contacts at BB/EBs to try and expedite the process.
At a semi-target. My two contacts from the BB were doubtful it would work because they haven't started even their first cycle yet. They both said they would reach out to HR and ask. When do you think is an appropriate time to follow up with them, or should I wait for them to respond about asking HR? At two of the firms I mentioned I reached out and heard nothing in return...not sure what should do about that.
Can anyone speak to common exit opps from the typical top MM IB?
You can still definitely place into PE, just not really MFs (unless you're at say Jefferies or similar). I knew a couple top MM guys at the $20B PE shop I interned at, so evidently it is possible to get good PE exits, Not sure about HF placement.
I'd have to assume corp dev/strategy are also pretty viable. Sometimes they can be picky and insist on BB only, but any good corp dev team worth their salt would take a top MM guy.
Magni non vero asperiores laudantium ut iste in necessitatibus. Quisquam nesciunt ullam et incidunt. Reiciendis ducimus aut temporibus atque consequatur minus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...