2yr Analyst: which is better exit opp? Top BB FIG or BB LatAm (Mexico City)?
1st post here just wanted to cast a wider net of thought on where I should go next.
I'm a pretty pessimistic burnt out 2nd year at a MM FIG and while I found it stimulating at first, I'm just tired of hearing of the much better lives of my pals in anything but FIG.
I failed my PE recruiting 1st year and again this yr (because of the 2nd year stigma so it was more a self-fulfilling prophecy than anything lol) but managed to land 2 offers:
1) associate @BB top FIG team in NY
2) associate @BB LatAm M&A in Mexico City
To many here, this may be a no brainer since people here don't think cities exist outside of NY, SF, LA, and London but let me just outline some reasons for why I'm tilting towards the latam offer:
a) as I said, I'm tired of FIG and am pretty lucky to not have been completely pigeonholed. Had to make a good case for lateraling
b) I kind of got the LatAm offer through a pal that works there and he's a good friend I'd love to be in the trenches with. Also have many friends in the city.
c) comp they're offering is notably better
d) probably most importantly, the women in Latin America (and anywhere but US/Northern & Western Europe) actually know their place and are very submissive. Dated a 10 from Mexico but she went back after college - perfect non-demanding hard body that knows how to keep quiet, I want one again.
Nevertheless, visa/moving is a bitch and my Spanish isn't the best. Perhaps any FIG lifers can tout the benefits of staying? Or if anyone's familiar with similar dilemmas?
Thx.
Dude...
Take the LatAm offer.
Ok but just for hypotheticals...minus the girls and friends part, do you think it's worth it? Are you/were you a FIG guy?
It's important to also think about what makes you happier. Many times with these types of threads, it becomes pretty obvious if a person is leaning one way. The fact that you didn't even list one positive about the NY option and so many about the LatAm one should be a clue for you.
I didn't list NY option's pros because I didn't want the post to be too long but more relevantly, I thought it would be obvious. Guys here want to stay in New York or LA. To move to an emerging economy is not in the general interest of WSO snobs so I wanted to counter that so that they understand my personal pros for the Mexico option.
And that's the thing: I have more personal than objective reasons for the MX option. I need objective viewpoints and that's what I'm hoping to solicit here.
Did you end up taking the LATAM position?
Ignore title. Currently in a Top FIG group on the street. If it's GS, take it and run. You will have top exit opps in generalist positions, and will be exposed to a vast network of connections at Warburg, H&F, Apollo, you name it. If it's JPM, also take it and run, same idea.
Also, a misconception about FIG is that it pigeonholes you. At top groups, it does not, especially if you are in an EBITDA based group like FinTech, and a little less so SpecFin. Hope this is helpful in your decision, best of luck regardless.
Depends on what you want to do.
In Latam is that you'll spend the next 5 years drinking tequila or mezcal, making derogatory and sexist jokes with your colleagues, taking 3 hour "working" lunch breaks with heavy alcohol and traveling to random places across South America to do more of the same and begging your new york colleagues to do any actual financial work for you since your teammates won't know or even attempt to comprehend basic financial concepts.
Downside is in 5-10 years whoever has family or political connect will get promoted and everyone else will move to some random FP&A job where you'll work for someone who used to be one of your peers from the US who is now 10 levels more senior than you.
Upside is if you're the type who's goal it is to live in a frat house until your mid 30s, you'll have a lot more fun. Downside is you won't learn anything and no one outside of of LATAM will take you seriously, either as a coworker or a decent human being.
You'll need to learn spanish and probably Portuguese (unless your clients are 100% based in Mexico city). Anything social will be entirely in Spanish and you'll be left out of every conversation if you don't
Not sure what you have against LATAM but this is categorically false lol. They'll grind you just as hard because they have very lean, industry agnostic deal teams that cover the whole of MX / LATAM - usually M&A rather than IPOs. Languages needed are Spanish / English not Portuguese unless you're in Brazil. Exits are either local PE or firms like GTCR and MBAs for A2As (something that some MX BBs will actually pay for you although there have been some people that use this to land NYC/London exits).
Pay is pretty solid IMO given the COL - M&I quotes a 1st year Analyst TC at $104k USD. Biggest downside is transferability to the US is usually only via an M7 MBA unless you can manage to transfer internally via the bank.
Also, the same woke, American DEI initiatives have crept into most firms as well, so the sexism point strikes me as a bit bizarre. Mexico's sitting president is very much left leaning, and they will very likely have their first female president in the coming year.
Source: A buddy of mine who worked in BB IBD in CDMX / Jorge Combe, Former GS Head of IB in MX
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