Why to transition from Big4 to small MM IB boutique

Big4 Corporate Finance teams focus on MM deals. Why do some people transition from Big4 to small MM boutiques that focus on deals e.g. between 20 to 150 million £/€/$? Aren't the deals kind of similar in terms of size and structure? What's different?

4 Comments
 

Currently at a Big 4 CF team in Europe. I haven’t seen it happen much, but those who went to IB boutiques mainly did so because they got fed up with the regulatory bs that is required when engaging a client at a Big 4. So many forms and questionnaires to fill out, it’s annoying.

And as mentioned above, the pay at the Big 4’s is not great when compared to some boutiques. For reference, my pay is €50k all in as a first year analyst/consultant.

 

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