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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.

 

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.

 

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