Best shops to apply for FT 2026

Based on the most helpful WSO content, here’s a breakdown of your options and advice for your situation:

1. Re-recruiting for BB/EB:

   • Re-recruiting and lateraling into a bulge bracket (BB) or elite boutique (EB) is a common path for those in your position. Many analysts at middle-market (MM) firms like Baird, Raymond James, or William Blair have successfully transitioned to BB/EB roles after 6-18 months.
   • Focus on networking with alumni or professionals at BB/EB firms, as referrals can significantly boost your chances.
   • Highlight your deal experience and technical skills during interviews. EBs, in particular, value strong modeling experience, which you can emphasize if you’ve had exposure to M&A or other high-impact transactions.

2. Applying for 2026 FT PE Roles:

   • Landing a private equity (PE) role directly out of a MM firm is challenging but not impossible. Mega-funds (MFs) typically recruit from BB/EBs, but middle-market PE firms may be more open to candidates with your background.
   • To improve your chances, focus on building a strong investment skill set during your current internship. Demonstrate your ability to think like an investor, and prepare thoroughly for LBO modeling tests and case studies, which are staples of PE interviews.
   • Consider targeting PE firms that have a history of hiring from MM banks or those in your geographic region.

3. Key Considerations for Your End Goal:

   • If you’re leaning toward the MF life, lateraling to a BB/EB is the stronger path. These firms provide better headhunter access and more structured recruiting pipelines for MFs.
   • If you’re considering a career in banking, lateraling to a BB/EB in a tech or healthcare group would align well with your interests. Groups like GS TMT, MS Tech, or JPM Healthcare are highly regarded for their deal flow and exit opportunities.

4. Advice for Re-recruiting and Lateral Moves:

   • Timing: Start networking early, as lateral recruiting can be competitive. Most lateral hiring happens between 6-18 months into your current role.
   • Process: Be prepared to explain why you’re looking to lateral and how your current experience has prepared you for the transition.
   • Resources: Use platforms like WSO to connect with others who’ve made similar moves and to access interview prep materials.

5. Additional Resources:

   • Check out the WSO Networking Guide and Investment Banking Interview Prep resources to refine your networking and technical skills.
   • Consider attending bootcamps like the Investment Banking Interview 4-Hour Bootcamp or Private Equity Interview Bootcamp to sharpen your preparation.

If you’re still unsure about your path, it might be worth exploring both options simultaneously. Keep your options open, and leverage your current internship to build a strong foundation for either route. Good luck!

Sources: https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, Official Investment Banking Rankings: Boutique and Bulge Bracket Prestige, The Case for Elite Boutiques over any Bulge Brackets in 2022, Consulting Recruiting 2023, Last chance for Investment Banking?