What experience are you getting at an EB that you are not at a BB?
Just Curious, What experience are you getting at an EB that you are not at a BB? Is there better advice given? more deals? larger deals?
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Often leaner deal teams, so more exposure. More focus on M&A, no IPOs. Obviously, you get the opportunity to work with debt Rx (RSSG). Finally, some would say with specialized knowledge and less regulatory oversight, these independents can advise more complex/ technical transactions.
As a result of this difference, you may get more hours and higher pay. On the downside, you may not get the prestige outside of finance of a GS or JPM. It’ll really come down to your own options and preferences, but top BBs and solid boutiques (GS, MS, JPM & EVR, CVP, PJT, Moelis, Perella, Lazard) should all tiles similar opportunities in PE.
Since independent advisory is pure advisory, what kind of regulatory advantages would they have? I thought regulatory stuff was more potent in cap mkts
Bonus caps, advisory/debt conflict of interests, structuring/financing requirements, and reporting requirements. M&A shops are basically consulting firms, as opposed to full-service banks like Bank of America. As a result, the work and the way they work can vary for different situations, which yields a unique and independent approach.
During my internship, I got to work directly with senior banks a and listen on client calls. My friends who interned at BBs said they pretty much only got to work with analysts and associates.
MD of my team took each intern out for breakfast too 1 on 1. Though he himself was on the home stretch and so looked like he had extra time.
EBs- free snacks/sodas/cold brew
BBs- coffee costs $2 and you have to bring your own mug
This hits to close to home as I do use my own mug.
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