Elite Boutique or VC?
I have a full time analyst offer (lateral) at one of the elite boutiques (Lazard/Greenhill/Moelis/Perella) and another at a smaller "investment bank" focusing on early stage companies. I put investment bank in quotes because in essence they advise start-ups through their lifecycle - from private placements for initial capital to business development to the exit (whether it's M&A, IPO, etc.) They are in the process of starting a VC arm of the firm, which makes sense as they are heavily involved with the business of early stage companies.
My goal is work in the buyside and have a role in making investments. I think VC is exciting but could see myself working at a PE firm as well (focusing on later stages). The pros I see of each:
Boutique: The brand name opens up doors in all areas of buyside, will get a more broad set of skills
The other: They were looking for a much more experienced professional, but I was lucky enough to make a good impression - so my role would actually involve interacting with CEOs of startups (sometimes on my own) and even being on the board of some of these companies. The fact that they're starting a VC fund means I'll be involved with the fund since inception and will have a position to make investment decisions.
I guess bottom line is the VC could allow me to leapfrog many years of my career but the boutique opens up a lot more options for later. Any thoughts or advice? Thanks.
VC and PE are drastically, drastically different. To simply say you want to make investments on the buyside is not sufficient criteria. It's like saying you want to play in a major sports league in North America. Figure out which one is more suited for you (the whole package: nature of work, lifestyle, people, locations, career trajectory, comp, etc.)
Personally, I would take the brand name vs. VC unless you want to work in tech
are you pre or post MBA?
He mentioned that this the boutique is a lateral as an analyst, so he's definitely pre-MBA.
NewMonkey, sent you a PM. If you have the time to speak with me I'd really appreciate it. Thanks.
Thanks all for your response. Even after researching a bit about VC vs. PE, I could see myself doing both in terms of the nature of work. I just want to choose the gig that would put me in the best position for either path - as far as advancement in each respective field. I'm essentially weighing pros and cons of doing the boutique and have the opportunity to go to a respectable PE fund, or taking a role with increased responsibility and exposure to start-ups and either making a profitable career there or going to a larger VC fund.
I do think the boutique opens more doors - the thing that still makes me consider the VC is that my role will be very senior compared with the amount of experience I have, so the upside is a lot greater. Am I making the VC to be a lot better than it might be? As in, perhaps there are plenty of other small firms with a lean staff where each person has "a lot of responsibility" whereas there's only a handful of elite boutiques.
Any additional input would be appreciated. thanks!
Look, if they're willing to give someone with your limited experience the opportunity to "work closely with CEOs," then it means that either you are being lied to or the firm is simply not going to be working with anyone big or worthwhile. In the end, by going to the VC you are severely limiting your upside potential. Top VC funds will not have the incentive to take on someone from a no-name two-bit player. The same goes for top PE firms. Take the position and you'll be largely stuck. With the boutique, you'll have access great exit opportunities, be they B-school, VC or PE... Be patient. Work in IB for a few more years and you'll have way better opportunities available to you. This shouldn't even be a discussion.
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