Michigan Boutiques

Does anyone know of any boutiques in Michigan that pay street? I'm a sophomore in college and want to start looking for internships that might turn into a full time offer but am hoping to work somewhere that pays street.

Comments (39)

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  • Associate 1 in PE - LBOs
Jan 12, 2022 - 10:16am

No boutiques in Michigan pay street. Period. The closest to street would be Cowen (formerly Quarton International, was acquired by Cowen), but they lag by probably $10-$15k base (compared to what is NOW considered street - $95-$100k base) and that lag translates to bonus as well. Go out of state to a larger platform and come back to MI in PE or as a sr. assoc. / vp at a boutique bank with upward mobility and a good comp package. If you went to a boutique in MI and then later decided to go into PE, your options would be SUPER limited (if you had any at all) without the experience of a formal investment banking analyst program on your resume from a global, full-service investment bank. In my experience, Cowen is not viewed as such if it is their M&A group in Michigan, unfortunately (Cowen doesn't do much M&A as it is anyways in aggregate).

  • Analyst 1 in IB-M&A
Jan 12, 2022 - 11:01am

i know cowen birmingham used to pay street for the analyst level (85 base and solid bonus), but they had a flat base model so a1,a2,a3 all had 85 base and increase was in bonus. not sure if that office bumped base to 100? Have heard that cascade will pay 100k base, idk bonus numbers tho. Unsure of other shops, angle comes to mind as the most reputable after cowen. 

  • Associate 1 in PE - LBOs
Jan 18, 2022 - 1:57pm

I would be, quite frankly, shocked, to find out that Cascade, of all places, pays $100k base to analysts. I would be willing to bet my life savings that is absolutely not the case. I would put the probability of Cascade paying $100k base to analysts at exactly 00.0000%. I am relatively certain that all-in at Cascade is somewhere around ~$55-$65k. 

Jan 12, 2022 - 12:42pm

Agreed with the above, from MI originally and the list is pretty short. Cowen, Angle, Finnea, Cascade, a few more automotive-focused boutiques. Best move if your heart is set on the Midwest is just go to Chicago, spend some time on a bigger platform or a more diversified one, and then eventually come back at a more mid-level role.

Jan 15, 2022 - 2:29pm

Couldn't agree more.  There's no real work in Michigan and no one will hire you or respect you coming from there.  Hate to be the bearer of bad news.

People working in Michigan are there for a very specific reason, usually because they have to stay close to their family for business or personal reasons.  Otherwise, why would you work in a place where the hours are the same as Chi/Nyc, the pay is 20-40% less, and the deal flow is 60% less.  I mean, the market is a total joke to be honest.  Get out while you can.

Jan 13, 2022 - 3:25pm

Cascade Partners in Southfield pays analysts between $85-$135k (idk if that's all in or what) which isn't a bad comp considering Southfield, MI isn't exactly NYC. Plus they're hiring rn 

Not sure why I'm getting MS, just trying to be helpful by providing an additional data point/information

Jan 19, 2022 - 2:54pm

Except its literally not. They made a post on LinkedIn seeking an investment banking analyst and they stated pay was $85k-$135k. I was quoting material directly from them. That post was active at the time of my comment, I'm not out here just lying about fake numbers for a company in a state I've never been to

Jan 19, 2022 - 3:19pm

Obviously not up anymore dipshit that's why I said "that post was active at the time of my comment", but yeah sure man I made it up to give false comp numbers to a midwestern prospect in a state no one cares about

Jan 18, 2022 - 9:06pm

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  • Intern in IB - Gen
Jan 20, 2022 - 1:02pm

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