PWM —> Boutique Institutional Equity Sales Opportunity

Hi All,

Using a burner for obvious reasons. I’ve been presented with an offer to transition from a wirehouse PWM role into a junior institutional equity sales role at a boutique investment bank covering predominantly healthcare/tech. An attribute of the position I’m very interested in is the opportunity to work directly beneath the head of sales who seems to be interested in taking on a mentorship role. My dilemma is 2 fold:

1) comp is materially lower to the point where I’d have to negotiate pretty hard to bump the all in comp to match my current base.

2) I have apprehensions about the future of institutional equity sales. Between fee compression and MiFID, is there room for growth at a smaller shop? The head of sales who I interviewed with said their overhead is basically nonexistent, so while commissions may decrease, the shop is there to stay.

My question is predominantly regarding exit opportunities. Will the experience I’d gain and the level of buyside interaction I’d have give me a look at recruiting to some low AUM HF/AM research positions moving forward assuming that I perform well and build up a solid buyside network? Is this an opportunity I should really consider if I don’t have aspirations to remain in the PWM space?

Appreciate the help in advance

4 Comments
 

I believe Kurtis Blow started in institutional equity sales, then left for CRE. Maybe he has insight.

“Doesn't really mean shit plebby boi. LMK when you're pulling thiccboi cheques.“ — @m_1
 

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