Which lateral offer to take - Top BB Shareholder advisory vs MM coverage vs T3/MM RX

Been at a Top MM coverage group for a year now but need to move back home ASAP for family reasons (asked current bank and there’s no room for internal transfer at the moment) and received a few offers. End goal is UMM/top MM PE. Should I take the BB offer and recruit asap given majority of my experience is in M&A (received solid MM firm looks at my current firm but didn’t start interviewing yet and also not sure if I’ll still receive those looks once I move to this new group) or join BB then try to lateral within the bank within a year or take the noticeably lower tier MM offer (PE firms might question the downgrade in firm). Fine with doing 3 years in banking if needed. Suggestions are much appreciated.

11 Comments
 

Based on the most helpful WSO content, here are some considerations for your decision:

  1. Top BB Shareholder Advisory:

    • Pros:
      • Strong brand name and prestige.
      • Potentially better exit opportunities to UMM/top MM PE.
      • Opportunity to lateral within the bank to a more relevant group.
    • Cons:
      • May need to recruit immediately to leverage your current M&A experience.
      • Uncertainty if you can maintain the same level of PE firm interest.
  2. MM Coverage:

    • Pros:
      • Continuity in M&A experience.
      • Potentially easier transition given your current experience.
    • Cons:
      • Lower tier compared to BB, which might be seen as a downgrade by PE firms.
      • May not offer the same level of exit opportunities as a BB.
  3. T3/MM RX:

    • Pros:
      • Restructuring experience can be valuable, especially in distressed PE.
      • Potentially busier and more relevant in certain market conditions.
    • Cons:
      • Different skill set from M&A, which might not align with your end goal.
      • Lower tier compared to BB, which might affect PE recruiting.

Recommendation: - Top BB Shareholder Advisory seems to be the best option given your end goal of UMM/top MM PE. The brand name and potential internal mobility within the bank can provide better long-term opportunities. However, you should be prepared to recruit as soon as possible to leverage your current M&A experience.

Remember, the decision should also consider personal factors such as work-life balance, location, and immediate family needs.

Sources: please help Lateral Analyst - Should I take this offer? (MM>EB), Top BB M&A vs. EB RX, Analyst Lateral from MM to BB/EB, Choosing RX over M&A -- anyone recommend this?, Some Observations from an MD

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