Breaking In: Should I Relocate for Regional Boutique??
I am a big 4 TAS financial due diligence associate. I’m five years out of undergrad, and my end goal is to end up in small PE or large corp dev.
I recently won an IB offer from a no name regional boutique a few hours away from my city and am unsure whether or not I should take it. It’s a legit bank but fairly small. MDs/directors from MM banks or industry. However, I really don’t want to uproot my life for something that I’m not sold on exit opps. (Not great past exits looking on LinkedIn but I think that might be bc people arent trying to exit and just end up staying at the bank.) I’m also unable to assess my chances of winning a MM/boutique offer in my my current city in the next 3-6 months so I don’t need to relocate.
Would appreciate all input. Thanks.
Bump.
Bump again - have to decide yesterday and would appreciate any input.
I’d say you possess a good background for MBA business schools">M7 bschool if paired with a high GMAT, and to enter IB that way. It’s more and more common nowadays to see IB associates leave for PE after a few years. Even go straight to Corp Dev from bschool. Quick LinkedIn search will show a number of MBA associates going to PE. I’d imagine this is easily attainable if your targeting the small funds you mentioned.
tldr: in the meantime, I’d snag the IB gig and think about bschool. IB -> bschool-> BB/EB IB -> small PE
@arb Thanks for your response. I’ve considered an MBA and certainly think it presents a good fallback option. However, I almost feel I might be better off just staying in TAS due to: (1) working on much larger transactions with more well known clients than the boutique IB and (2) I could consider applying for MBA this fall or next fall from current B4 due to longevity/good track record at current firm w good chance at solid recs vs a more truncated experience at IB with less time to develop relationships if I wanted to apply next year. Thoughts?
Any other takers to provide some insight?
I don't think there's much trouble lateraling in as an analyst at a Stephens, STRH and Baird type of firm. Maybe not a EB or BB that provide the MF exits, but I think they have very solid placement especially for Baird. You can still lateral as a 2 or 3rd year analyst after doing 1 -1.5 year at Stephens or STRH. Still well decent brand and good lateraling opportunity to BB or EB.
Thanks - this is what I really would prefer. Stay in my current city and come in as analyst 2 into a MM bank. Grind it out and exit from there after 2 years.
Welcome to other opinions!
If you go this route, lower MM boutique to MM, you will have little chance at PE. Corp Dev could still be possible, but in general, I would not base your career on PE at the moment.
double post, sorry. see below.
Thanks - just to confirm, you don't think I would have a chance at LMM PE if i reject the current regional boutique and go TAS -> MM (Stephens, Baird, etc. mentioned above) -> LMM PE?
Either way, would you say not to take current regional boutique offer? I don't want to relocate, and i'm not chomping at the bits to take it. But part of me wants to ensure i dont NEED to take this offer to ever break in.
No because you will be fighting an age bias. You are already 5 years out of undergrad, so let's say that you take the boutique, then lateral, then try and break into PE, you are going to be over 30 in all likelihood. And realistically, your experience warrants an associate-level position at that point from my perspective.
Nothing is impossible, but the likelihood is very low.
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