I'm sure this topic has come up before, so please excuse me if this has already been discussed at length elsewhere.
Are mid-level bankers (Associates / VPs) who begin their careers at a boutique (EVR, LAZ, Moelis, etc.) at a disadvantage when it comes time to begin calling on clients? It seems that it would be much easier to build client relationships if you had a broader suite of products and services to offer from an earlier stage in your career.
I'd be interested to get any perspectives on whether or not the long-term career potential in banking is diminished at all with an advisory-only background.
Yes
Probably although at one of the boutiques you mentioned, 25% of the MDs are internal promotes
There are MDs and there are MDs. Its all very well to internally promote an MD and just pay them a measley buck and a quarter a year, while the guy they hired from Morgan Stanley is making four. With extraordinarily rare exception, any MD who is making proper money at a so called elite boutique built their career at a bulge brackets.
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