Where would you go?
Raymond James: stronger name, better location, single-focus
Smaller Up-N-Coming I-Bank: culture preference, diverse focus, only 2 offices, opportunity to make a difference
*same pay
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Raymond James
You're welcome
raymond james - its all about deal flow and i would imagine that raymond james would beat out the up and coming i bank any day of the week
What's your risk tolerance?
Yes, Raymond James carries a huge brand name that will likely always be marketable on a resume. But if you had started at Greenhill or Evercore ten years ago, they probably would have carried the same recognition as the small shop you're looking at. That said, for every Greenhill and Evercore, there's probably six or seven ho-hum boutiques that never really got into the "big leagues" and several more that just shut down.
If you're straight out of school, it's good- in the aggregate- to go with a firm that carries a huge name brand that everyone has heard of, and stick it out for two years. You'll always be able to put them on your resume. But if you meet some truly smart people at a small firm, there's no reason you shouldn't go there. In the long run, having a good manager, good experience, and a good attitude over your career trumps narrower experiences at name brand firms hands down.
The catch with working at a smaller firm with smarter people is that a firm like Raymond James probably is less likely to throw you out on the street in the next twelve months if it goes bust. When I was 22, I couldn't count on my parents to help bail me out if I lost my job, and rather than having savings and retirement investments sitting around, I had a few thousand dollars worth of debt. Working at a big firm made it easier to sleep at night my first year or two.
You've got some stuff to think about. It never hurts to talk it over with Mom and Dad.
Something to consider is if you are planning to do the typical '2 year and out' or would you seriously consider staying in banking long-term. If it's the latter, the up and coming bank could provide you with an opportunity to move up much faster than a developed bank that has a set protocol on promotions given the number of employees.
Another thing is as Illini pointed out - for every potential star boutique, there's many no-names. The people that built the boutique you're considering - what are their backgrounds? What is the X years of experience? How well known and respected are their names on the street? What's their traction like - have they gotten a lot of deals done since it's opened it's doors - what kind and what's the momentum? These are factors to think about.
If you're not completely sure you want to stay in banking - I'd go with the safer choice Raymond James.
Ray j.
Really? Nothing against Raymond Jaymes; but if the smaller up and comer can give you better experience that that is all that matters. Experiece over Brand unless you're at the top BBs. Hands down. Safer choice = risk adverse. this is banking and it is your carreer.
^^^ yes. A small firm is a great SECOND place to work. But for someone straight out of school, the last thing you want to be doing is losing what precious little sleep you can get over whether your MD will be able to make payroll next month when you're just a few months out of college
My take is that if you've got a GREAT manager at the smaller firm vs. a ho-hum manager at RJ, take the smaller firm. You'll learn a great deal more. But it's also a much bigger risk short-term. You could wind up on the street if the firm goes bust.
Something else to note is that with any startup - people are expected to roll up their sleeves and do a lot of dirty work. So you may be stuck taking care of some admin-like stuff too... depending on how much of a start up it is.
^^^ Beats Excel.
^ To each their own...
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