Getting into BB from a smaller boutique
How challenging is it to transition from a lesser-known undergraduate institution to a prestigious BB (bulge bracket) firm? Personally, I believe there is a prevalent mindset that having a master's degree is a must to be competitive for BB positions. However, I'm curious if it's feasible to climb the ladder by starting in smaller boutique shops and gaining experience through multiple internships. One potential career progression could be:
Small boutique shop -> Upgrading to a more reputable boutique shop -> Transitioning to an elite boutique (EB) firm -> Landing a position at a BB firm.
What are your thoughts on this approach?
I'm not aware of anyone that thinks a master's degree is necessary, at least in my firm. Honestly, I don't think we see any distinction when reviewing CVs. It's fair to say though that lesser-known academic institutions generally are viewed less favourably than target schools.
It's absolutely possible to "climb the ladder" as you describe. Candidly, an RBC or Jefferies (just picking random names) will find it difficult to recuit lateral hires from a Goldman Sachs or Morgan Stanley, and so naturally look to hire from an Alantra or Stifel.
I'd also add, however, that you should in most cases take the first full time offer you get rather than wait out for some "holy grail" - someone with multiple interships is often seen as a red flat (why have they kept failing to get a return offer?).
I am having this issue. I have had multiple good experiences but they seemed to have backfired
“Why didn’t you stay at one of these places”
“What has been the reason to jump around to different areas”
It was fine as a student but even though I have a full time job, in job interviews they see it and think why are you thinking about leaving again?
Master's degree does not really help - if anything people just use it to push graduation so they can recruit another year
EB/BB are on similar levels and some EBs are even picker than BBs. I think your path is reasonable and you do need to find a regional boutique as stop #2, but that -> MM/BB/EB is really market dependent. In this market there are zero BB spots and even those regional boutique spots are being taken by former BB analysts
Depends a lot on your situation specifics but I would cut down internships from CV (ideally the very first ones so I don't create gaps) until you can build a solid story around the remaining entries. Why you joined, you you left/did not convert etc. and why joined the next one. Its all about the narrative and assuming you are well polished, decent XP in the previous shops and rock solid on technicals you should be able to make jumps. In terms of the trajectory you described, it is doable in principle, but will very much depend on the market environment. I've seen some CRAZY jumps during the 2021 frenzy but do not expect that to come back for a while..
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