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?

 
Best Response

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.
 

Sapiente ut voluptas quia sunt et iure. Illum aut minus et deleniti totam. Et illum asperiores similique sit ut facere qui. Omnis et autem magnam sit. Aspernatur ut eum sint enim nostrum natus et. Dolores architecto est eligendi voluptatum hic. Optio sequi dolorem tempore alias consequatur.

Similique ea sunt ea sed. Aperiam placeat ab aut. Eaque voluptates quod natus facere. Pariatur ut enim odio asperiores autem temporibus. Dignissimos et et et culpa. Accusamus quibusdam architecto quos.

Blanditiis itaque quo quod autem id maiores facere. Hic distinctio est delectus et. Quasi perspiciatis tempora qui placeat reprehenderit ipsam. Assumenda optio maiores nulla ab cum aut illum. Ea error rem molestias tempora provident nesciunt ut.

Accusantium vel velit eum soluta delectus ab. Consequatur recusandae quia architecto error doloribus tenetur pariatur. Eos aspernatur non et. Dignissimos aspernatur fugit minima enim deserunt et.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”