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April 30, 2024
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Depends on what you want to do and who you are. Some people prefer being on the placement agent side of the business and find that more rewarding for them. Others on the IBD. Both seem like good options, more about you and where you think you can be more successful I would think. Good luck
Go with the IBD role as there are better exit opportunities. I would try to convert the SA stint into a FT offer for the 2-year analyst program. You'll develop a more comprehensive skillset in IBD. Its easy to pivot to PA if you want to do so in the future.
Joining a placement agent is fine if you want to go into IR longer term, assuming you work on fund advisory side, but you will be pigeon holed into it. Its a lot of back office work when you start out.
Pay diverges between IBD & PA as you get older with the former being more lucrative, unless you focus on secondaries then it could be comparable/slightly above in good years.
was in an almost identical position and I went with BB IBD
rationale being that placement agent is specialising relatively early in your career and provides a less transferable skill set (most transferable would be secondaries transactions which involves some, but not very detailed modelling)
whilst BB IBD is quite generalist, and you could always go to a placement agent after (as many do, many ex-bankers at placement agent I was looking)
placement agent exits seem to be to FoF, maybe secondaries PE and similar, secondaries is a burgeoning industry so if you did want to do it long term, can ride the wave up
yet to see how this move will pan out but hope that helps
IB 100%. As others have said, you can always go from IB to a placement agent.
BB IB
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