HELP! Lazard/BX/PWP IBD Internship vs Barcap IBD FULLTIME??

Ok I am actually a year 3 student who is actually able to graduate by end of June this year (7 courses in winter and 3 1 month intensive courses in May). I have actually accepted Barclays IBD NYC for full time but since I was worried that I may fk up my heavy course load and not graduate on time I proceeded to go for summer internships...

Surprisingly, I have an offer from a top notch boutique (LAZ/BX/PWP) in NYC for SA...
It's been pretty hardcore taking 7 courses right now but I know I can graduate on time if I want to..

However, I know LAZ/BX/PWP is a notch above Barcap in terms of PE my question to you is, should I just graduate 1 year later so I can start off at a better shop? Or is it better to start in IBD early at Barcap?

P.S. I'm sure Barcap will not be mad since this isn't reneging..I can jsut say I can't graduate on time (which is true if I drop courses now)

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (29)

Jan 31, 2011 - 4:56pm

You have a great alternative with the boutique, but also know this - you have a secured, FT position at Barcap. The boutique offer is only an internship, which is not a guaranteed FT position. What if something happens and you fuck up over the course of the internship? What if the economy goes to shit and they can't take everyone back for FT? These are all important things to consider. IMO, I'd stick with the already excellent position you have at Barcap. Not worth it to roll the dice like that

Jan 31, 2011 - 5:17pm

can you leverage your SA into a full-time position at the boutique? Or otherwise do it and keep the option open of staying on full-time right after your internship/be able to start in december/january? this way you would only "lose" 1 semester. I would go for the boutique, it definitely has a better reputation, plus you might actually be in a place where now where people are planning to be in 2/3 again ahead of the game.

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
Best Response
Feb 1, 2011 - 1:48pm

I think it would depend on which boutique we're talking about here.
BX/Laz - lots of people don't get offers but having BX/Laz on your resume should get you interviews at all the top banks regardless. And if you do get a return offer, you have a great chance of getting into top tier PE shops
PWP - you will almost for sure get an offer unless you fuck up (last year SA in NY went 3/3) as they really focus on finding people who they are sure will do well at their firm. however, whether PWP is necessarily better than Barcap for PE is debatable

However, given that those 3 firms are arguably the 3 most selective boutiques, you should be confident in your ability to interview and convert to offers

Feb 1, 2011 - 2:52pm

Why don't you just push back the FT start date so that it's after the SA end date? Thatway you can do both.

Feb 1, 2011 - 3:54pm
Why don't you just push back the FT start date so that it's after the SA end date? Thatway you can do both.

genius right here. try that.

lol, I could be wrong, but I detect sarcasm. Why is this bad advice?

Feb 1, 2011 - 8:41pm

Wow tough decision...I would go with BarCap since it is a FT offer. I understand how tough it will be to turn down chances Lazard and BX though. Maybe you should ask to see what the full-time offer rate for SAs at those companies are. If it is high enough, you can decide to see if you want to take that risk.

Feb 1, 2011 - 8:51pm

Bird in hand > two in the bush

If I had asked people what they wanted, they would have said faster horses - Henry Ford
Feb 2, 2011 - 12:43am

agree with happy on this... bird in the hand.

Also, Barcap is not some shitty little boutique shop or something... it's a legit bank with a lot of solid groups and very strong recognition throughout the world. Sure, it's not GS, MS or BX, but if you start in Barcap I think it's safe to say you can end up anywhere if you do well.

Also, unless you really just want to stay at school so that you can party/enjoy yourself for senior year (which is totally reasonable and I would not blame you for), then graduating a year early is totally sick. Starting your career one year younger is an advantage.

  • 2
Feb 2, 2011 - 1:30am

Hoooold on a second guys. I think most of you are forgetting the biggest factor in this decision. I can't believe only 1 person mentioned it (props ledger): The kid is considering giving up 1/4th of his college life to become yet another monkey, grindin away just to get through the day. Think about it...Co-eds? Or pitchbooks? Hmmm.. I think the biggest factor here is how much you enjoy school. If you're at some workaholic ivy league school and never escape the library, then maybe make the jump. If you're at an SEC school (doubtful given your offers), then stay, stay, stay. Obviously those are extremes, but you get the point.

Otherwise, everyone is right about the "bird in the hand" comments. It's not like you're taking a no-name FT offer over those boutiques. Do well at Barcap and I'd expect you to have plenty of opportunities. Hell, you could do a year at Barcap and (maybe) lateral to those places. That said, I'm assuming your resume/interviewing is pretty sick to have these offers, and an SA gig at those places will only help, so I would think you would have a great shot at FT come next year.

If it were me, it's a no-brainer: SA at one of those places, stay in school another year (or 1 semester and then a semester of travel), and figure your FT job out later (assuming your resume is as good as it seems). If this were your senior year, with the same situation, then I would take Barcap FT-not worth the risk taking an SA. Unfortunately, I have none of these luxuries...

(Disclaimer to everything above: I'm just a college kid looking for an SA gig)

Feb 7, 2011 - 1:17am

Molestiae ut illum architecto voluptatum sed alias quod quos. Omnis veniam laborum eligendi libero.

Commodi cumque et reiciendis. Ut possimus id quasi consequatur quia. Voluptatum magni quo fugit dolor necessitatibus. Et et saepe est exercitationem in. Aliquam autem odit similique quis ipsam ipsa eum blanditiis.

Voluptates molestiae et nesciunt sit et dignissimos repellendus. Sint dolorem doloribus ad consectetur adipisci sit molestiae qui. Ab dignissimos harum eligendi amet. Maiores rerum illum ullam consequatur ipsam eaque.

Start Discussion

Total Avg Compensation

October 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (39) $363
  • Associates (228) $232
  • 2nd Year Analyst (137) $154
  • 3rd+ Year Analyst (31) $147
  • Intern/Summer Associate (104) $143
  • 1st Year Analyst (501) $135
  • Intern/Summer Analyst (387) $83