For those of you who left banking, does bank prestige really matter if you don't want to do PE/HF after? I'm speaking about Corp Dev/Strategy&OPs, FP&A, VC? I really don't want to hop over to a diff bank just for prestige. If I were to leave, I'd want to leave banking for good.
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No, it does not.
From my understanding, it does matter for VC. I'm not so sure about the rest of them though. However, I would assume you would get the best jobs coming out of a BB and EB in each respective field. But, its also important to remember that a lot of people jump ship from BBs to MMs for a quality of life improvement and don't look back. I would say think of where you want to end up and work backwards, if your dream career doesn't need a BB (or at least isn't made much easier by a BB) then go that way.
Just my 2 cents...
bump
Beyond prestige what matters as a junior is also learning, and the best way to learn is to do deals. If you are in a lower quality bank (esp a low tier BB which usually fights for the same deals as top BBS) or most importantly a bad team, you will get a weaker deal exposure and this will impact your learning experience / ultimately your ability to exit to a good place.
Absolutely matters
Yup. I know you want the answer to be no, but prestige always matters. School, job, etc., people will always form an opinion of your background
The classic annoying answer: It depends. I guess more specifically, it kind of matters. VC it absolutely does. For Corp Dev most of the teams are ex-investment bankers and so they know the perception of the different firms. So if you're applying for a competitive corp dev job and they see Evercore vs Barclays, then they'll actually know what Evercore is and it's prestige. In other field, like strategy and FP&A, where people aren't ex-bankers as frequently, they probably won't recognize Evercore and they'll see IB experience as IB experience. That being said, everyone knows what Goldman Sachs is, and so when they see GS on your resume then that means a lot. It's like saying you went to Harvard. Yeah sure in 10 years it may not matter, but firms always like to brag about the quality of their employees and just like Harvard stands out, so does GS. Of course, some people don't know the difference between Ops and IB so they may think GS ops is better than Evercore IB.
Haha does not matter at all. Most people in the corporate world don't know the difference between Morgan Stanley and JPMorgan. The view on finance from a corporate perspective (even people in consulting) are that all banks are the same, if you've worked at a reputable big name bank that has a big commercial (WF/Chase/BAML) or investment reputation (GS/MS), it's all the same to the outside world. Trust me, smart people today in the corporate world (unless you're high up at a public company) don't even know that Merrill and BAML are the same.
What about EBs/Boutiques/most MM then? Guessing it’s not a super marginal difference from the B/S bank treatment you describe
Won't matter much if you're not going to some top VC/HF/PE firms. Investment banking is investment banking, if that's on your resume that's all that the recruiter or corporate employee is going to think. They don't track the prestige of big name banks, and certainly won't for boutiques. Nevertheless, the fact that you do have IB experience is enough for them to think you have modeling skills (if they're smart, they'd know that the boutiques model WAY more than big name banks and analysts who come from there have better technical skills)
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