Is any banking REALLY better than no banking?
Hey guys,
As a former Bear SA, I'm just looking for some opinions - especially from people in the industry.
I'm sure you know about the non-profit offer we have received, but I also received an offer from a small/no-name boutique in my area. The boutique has a decent deal flow, and co-managed a large deal ($5 BN)recently, but I'm not naive enough to think that they have any credibility on the street.
Further, I'm planning to delay my graduation, so I'm looking to do whatever will put me in the best position for SA recruiting for next year. I've thought that there could be benefits to living in NY (especially as a non-target not from the city). Then again, I understand that having banking experience (albeit from a small bank) could set me apart from candidates next recruiting season.
Please, any and all thoughts are appreciated. Thanks.
Why wouldn't you take the boutique offer? What's the alternative, unemployment? Use some common sense.
No, unemployment isn't an issue right now. If I don't work at the bank, I can work for the non-profit I mentioned earlier in the NY area.
Genghis - Thank you for the input.
Take whatever you can get, recruiters will be impressed that you were able to land anything after having your Bear SA slot pulled
hey, maybe you can get an sa slot next year from JP Morgan given how you got the rug pulled out from under you. i'm sure you could at least manage to get an interview from them.
i really would try to stay in contact with them while you make your choice. of course, i'm nothing more than a lowly sa myself, so take whatever i say with a grain of salt. good luck.
Yes. Yes. And ten times over, yes.
Your Bear offer will speak to why you "had" to take a boutique offer for the summer. The boutique will put you light years ahead of working for the non-profit, or anything else short of a real banking job for that matter.
i'd go with the banking job, just being in ny wont do much for you if you arent working in finance
where is the boutique? if it is in a city like SF, chi, houston, charlottee, boston, LA, or another city where there is a decent amount going on in the finance world you should be abele to network/leverage well
i'd go with the banking job, just being in ny wont do much for you if you arent working in finance
where is the boutique? if it is in a city like SF, chi, houston, charlottee, boston, LA, or another city where there is a decent amount going on in the finance world you should be abele to network/leverage well
I may as well just tell you - the job is in Pittsburgh, PA. Sooo yea, not exactly a bustling financial market.
I probably should have just mentioned this earlier, as this might change some people's opinions.
Ew. Pittsburgh. At the very least, it will be impressive to show you got a banking offer on such short notice for the summer IBDilo. If you are delaying graduation, it's basically the equivalent of getting a boutique internship as a sophomore, which always looks good. Then when you explain your situation further I think it will be even more impressive during interviews.
Don't panic. It seems like you're pretty talented and will find your way to a BB or good MM bank again. Maybe not your top choice but in this market you take what you can get.
I'm a soon to be SA, so take this with a grain of salt. If you have the boutique on your resume, and can speak to some deal experience of some kind, you will be in a great position for SA recruiting next year.
I know guys that had really small boutique experience on their resume (read: in Cleveland), and are now working at top tier banks. Just stay in touch with your contacts and you should be good to go.
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