DCM at Middle-Market Investment Bank vs. M&A Boutique

Both internships are located in Frankfurt and have the same duration (6 months). After that, I will do another 6-month internship and then a summer internship (preferrably in the Bulge Bracket).

It would be my first experience. I would strongly prefer to specialize in M&A upon graduation but I remain open to ECM/DCM.

What would you choose if you were me?

Region: 

Comments (8)

Mar 31, 2015

M&A boutique. I did DCM at a bank and the skills that are transferable are close to none. M&A at a boutique would be best.

    • 1
Mar 31, 2015

Not exactly the person to answer this, for I'm not in IB (for now, at least).

In the past, I turned down less interesting Big-4 (your PwC/EY/Deloitte/KPMG) position (Compliance) for a CorpFin team in a less-prestigious Big-4-ish (still top-6 globally) and immediately felt the consequences.

A lot depends on your current record. If you have a lot to show off on your CV, it won't matter, but if it's your first real shot, go for a bigger name. It's always easier to go down the food chain than vice-versa.

If you come to battle, bring a shotgun.

    • 1
Mar 31, 2015

Thanks!

"If you're afraid - don't do it, if you're doing it - don't be afraid!"
-- Genghis Khan

Mar 31, 2015

As I've said fam, take my opinion with a grain of salt -- I'm a non-banker from Europe, after all. I can be very much wrong.

If you come to battle, bring a shotgun.

    • 1
Mar 31, 2015

def take the mm, will allow you to have more opportunities in the future. More likely to be an established program that you will get much more out of. I would take the dcm and not look back.

Mar 31, 2015

Personally would take M&A assuming its not like 10 man pitch shop.

Will be an easy sell come junior recruiting for why IB (esp with the EB)

    • 1
Mar 31, 2015
Comment
    • 1
    • 1