Which Offer to take for FT?
Have all 3 in hand..
Corporate banking at BB
Sector specific boutique, not particularly well known but in NYC, 5-6 deals/year
FLDP @ F500 tech company
Thanks!
If you want to do investment banking, choose the boutique. It goes against all of the prestige-logic found on WSO, but when you try to lateral in six months to a year, it will be a lot easier doing so with full time investment banking experience under your belt.
This is a no brainer. Take the boutique. Your experience will be huge on your resume. When time to lateral to your next job and the next job, it will be a domino effect. I know from experience.
Better to choose corporate banking and then make an internal move to investment banking after 1 year as you will already be in the system; aka internal mobility.
Easier than making a move from boutique to BB.
OP never said that his end goal was IB, guys. What are you looking for? Personally, I'd take the corporate banking role - hours aren't too bad, pay is pretty good relative to everything else out there, and you'll have a brand name on your resume. A 22-year old could certainly do worse than 50-75 hours a week while making ~$100K a year.
Thanks for the input thus far guys. End goal is PE. Would consider lateraling if necessary.
If end goal is PE you should absolutely choose the boutique. It is not easier to lateral from corporate banking and I've never heard of a 22 year old in corporate banking making six figures.
"I've never heard of a 22 year old in corporate banking making six figures"
How have you not? First year numbers for BB CB are $70K base, $10k signing bonus, $20-35K end of year bonus, and these are pre-raise numbers. Not sure if corp banking got bumped along with IB, so it may now be higher.
Take the BB Corp Banking gig. A boutique that does 5-6 deals a year isn't going to get you anywhere. I really hope you aren't seriously considering it. It's not about preftige. The experience and caliber of people will just be considerably worse compared to a legitimate middle market or a better boutique.
Internal mobility at a BB really works, and it is far and away your best option for PE. You also always have the option of lateraling to legit MMs and boutiques even if you hate it - you won't be able to do that coming from the boutique you mentioned.
And just a hunch, I doubt there's much real analysis for a significant portion of the 5-6 deals a year. How many analysts does the boutique have?
Around 50 bankers total, 6-7 analysts. Fair amount of responsibility distributed
How would you know? You are an INCOMING analyst in ER.
It says "prospective monkey" as your current stage in IB. How on Earth would you know about lateraling or internal BB movement?
Have seen others do it.
Interesting. Different from what I was thinking then. What do analysts from the boutique go on to do? If it's in line with your goals, that may be a shorter and easier path.
Yeah, I also had a different impression of the boutique (thought it was a lot smaller). On a side note, how are 50 bankers only doing 5-6 deals a year? Are they just pretty meaningfully-sized deals ($500M+)? If so, I'd lean toward that.
The majority of deals are between 200MM-500MM. It is a relatively new spin-off of a larger organization, and now almost exclusively operates in one vertical of consumer retail (don't want to get any more specific than that). Hard to really get a feel for analyst exits because of the short track record.
Went through the CB recruiting process, seems like it's relatively straightforward to lateral after a year or two into a DCM or Lev Fin role. Less so into an M&A or coverage group.
Are you sure it's only 5-6 deals? I'm at a 25 person boutique now that does around 22-25 deals a year. Granted they are typically in the $25MM-$250MM range. Do most of the bankers come from top BBs and MBAs?
Unfortunately. They're only as active as the one specific CR vertical that is covered. I don't mind being pigeonholed as I really enjoy the overall sector, but my worry is that PE/VC won't be attainable from a small, relatively new shop
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