Middle Market Banking at a BB vs at a MM Bank

I'm a bit confused as to what the difference is between middle market banking at a BB vs middle market banking at a bank like William Blair, Stifel, Lincoln International etc. I thought they would be the same, but middle market banking at BBs seem to be listed under commercial banking. So, would the work be the same still or be much different?

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As I understand it, Middle Market Banking at most BB is just Commercial Banking with Middle Market Client Coverage. You may get some exposure to IB products, but won't really be doing IB work.

 

I agree with this.

I would also note that IB at a quality MM shop is a good way to get a lot of transaction experience. The deals will definitely be smaller and less sexy, but I think doing 10 smaller deals would be better than 1 big deal.

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