Lateraling via MS PubFin vs KeyBanc IB vs Health Boutique

I was fortunate to receive a summer analyst offer at KeyBanc's tech group. However, I also received an offer for MS public finance. My long-term goal is IB, and I'm wondering if it would be better to go to MS and try lateraling internally/to another BB down the road? I'm weighing the name of MS and close tangency of PubFin to IB vs the direct IB connection at Key.

Would greatly appreciate your insight! Good luck to everyone.



 

Depending on your goals, imo the MS name will hold more weight. Not sure where you want to end up after your stint but I think MS will open more doors. you can use these offers to shop around a bit as well if you want to end up in tech/healthcare, think keybanks HC group Cain is done recruiting but you have some good offers in hand to explore around a bit.

 

I think that it is a double edge sword.  MS may have better name, but Pubfin is going to be a harder sell.  Personally I would go Keybanc.  

PubFin is a little bit of a different world than the average DCM team.  The way you win business and the relevancy of skills can be a little bit different and is a harder swing than if you are in a relevant coverage group. I would not risk getting pigeonholed for a few years just to try and get a good name.  Pick the sector you want to work on.   

I know this is a stretch but think about someone who picks Backoffice Goldman over other fields.  Name is not the determining factor, what you do is. 

EDIT:  how about someone replies instead of MSing me.  

 
Most Helpful

Lol I agree with some of your points, but comparing Public Finance to Back Office is ridiculous. Public Finance might be pretty niche, but it's still considered front office by any measure and there are a decent number of skills that you can learn there that would be transferrable to other IB offices in the future, albeit less than coming from a more traditional coverage/product group. OP, I don't know much about Keybanc, so don't take this as definitive advice, but Morgan Stanley's PubFin practice is top 3 in the league along with BAML/JPM, and being from one of those three banks' PF groups, I can guarantee you that you'll be able to lateral either internally or to another bank if that's what you want to do in the future.

 

Rerum aut odit ea veniam officiis facilis. Sed et incidunt illo doloremque. Aut optio sit atque ut recusandae eaque eveniet. Sequi nisi quae temporibus.

Career Advancement Opportunities

March 2024 Investment Banking

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

Overall Employee Satisfaction

March 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

March 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

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $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

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
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...”