BB Corporate Banking vs. Elite Boutique Investment Banking

dizzle11's picture
Rank: Monkey | 44

Current CB Analyst at a BB (GS/BAML/MS type) regional office (Bos/Tor/Chi type) with an offer to join an elite boutique (Evercore/Moelis/HLHZ type) in LA as an IB Analyst.

Is this a no-brainer?

For context: joined ~2.5 months ago out of undergrad. Love the office. Would love to transfer internally to IB but don't want to risk that after a year or two. Not loving the CB work, breaking into IB is the goal. Location change is tough but i don't really care, would go anywhere for the right opportunity.

Too early to leave? Is the risk of internal transfer too high to pass up on this opportunity?

WWYD?

Comments (14)

Oct 11, 2014

No-brainer, especially if Moelis LA

    • 1
Oct 11, 2014
cfs416:

WWYD?

IBD in LA.

Oct 11, 2014

My money is that it's BAML Chicago / Boston -> Houlihan LA. By the way, Houlihan isn't considered an EB and Evercore doesn't have an LA office. But yes, you should take the offer.

Oct 11, 2014
iheartdietcoke:

My money is that it's BAML Chicago / Boston -> Houlihan LA. By the way, Houlihan isn't considered an EB and Evercore doesn't have an LA office. But yes, you should take the offer.

You must run one of those psychic stores on the corner of every nyc street.

    • 1
Oct 12, 2014

You're right.

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Oct 11, 2014

It's all about what you want. If you're set on IB... then obviously go for IB?

Oct 11, 2014

Definitely a no-brainer. Take the IBD position. You are such an outlier to have gotten this opportunity that so many people on here seem to never be able to crack. I wouldn't even hesitate to accept if you think IB is what you want to do. Good luck!

    • 1
Oct 11, 2014

Absolutely take it....why would you wait for a potential internal transfer after a couple of years when you could do IB now? Unless your firm has an amazing internal mobility policy and a history of CB analysts moving to IB, you'd likely have an easier time lateraling from your current IB offer to IB at one of the firms you mentioned around the same time you'd be trying to internally transfer from CB.

    • 1
Oct 12, 2014

Houlihan LA is looking to hire people. They wanted to fly me out for an associate interview, but I passed. People shit on corporate banking / credit and yet banks seem to like it just fine.

Congrats.

Oct 12, 2014

Sounds like an easy decision and that you already have your mind made up. Good luck.

    • 1
Oct 12, 2014

do boutique until you start at the BB. tell them you accepted an offer at the BB CB a month or so prior. Also I would clear this off with the BB guys, that you will be working (temporarily) unitl your start date.

You can also ask BB if you can start early (January) off-cycle. That will give you more wiggle room to lateral in IB elsewhere before you head off to Bschool. 1.5 years CB to IB to PE/MBA isn't as bad as 1 year boutique to 1 year CB to 1 IB to much hopping around.

your other option would be to continue at this boutique and start CB next year work in CB for the 2 years and then go for your MBA and shoot for IB for there. but i would use that as last resort.

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Oct 12, 2014

Thanks for the quick reply. That helps a lot. Last thing, I've heard from different sources that when quitting a job in ibanking, you don't usually give them prior notice. Just expect to walk out the door, because that is what they expect. First, why would you say it would be good to give them such an advanced notice? And last, would I tell them the truth? Basically that the exit opportunities are not as good as CBanking, even though iBanking is what I want to do eventually? I'm not sure how I will phrase this.. Or do I even need a reason? Thanks in advance.

Oct 12, 2014
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