Quality of Training Program at a Boutique

Intern in IB - Gen

I was wondering what I should expect in terms of the quality of the training program at a boutique. From conversations with the team, it doesn't seem like they have a comprehensive training program that BBs and MMs offer. This clearly depends on the firm, but can anyone provide insights into their boutique training experience?

Comments (11)

  • Associate 2 in IB-M&A
Jun 1, 2020

Started at a small boutique. Training was nearly identical to BB piers. Had training the street come in etc.

  • Incoming Analyst in IB - Gen
Jun 1, 2020

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Jun 1, 2020

Yes, training is very similar if not more structured and relevant esp in the last week where the firm goes over its firms-specific protocols or modeling stratgesi.

Will update my computer soon and leave Incognito so I will disappear forever. How did I achieve Neanderthal by trolling? Some people are after me so need to close account for safety.

    • 2
Jun 1, 2020

I'd think you would get more personalized training at a decent shop over a BB since its likely to be more personalized. A smaller shop not so much. Larger BBs have become very corporate from what I've heard.

Jun 1, 2020

Yes, exactly! The middle of the road shop will both ahve the resources and the specificity of protocols to help you!

Namlaera, you have hit the nail on the donkey again...................

Will update my computer soon and leave Incognito so I will disappear forever. How did I achieve Neanderthal by trolling? Some people are after me so need to close account for safety.

Jun 2, 2020

Training the Street and then you're off to the races working on models that are never the same and getting yelled at if you fuck up. Also have less of a bullpen to rely on and a tiny bit more stress imo

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  • Analyst 2 in IB-M&A
Jun 2, 2020

I think it depends what boutique and if you are talking EB vs no name vs semi known regional.

Training at an EB I would assume is the exact same as a BB or MM, semi known regional (Marlin and Associates, BGL, etc.) would vary a little more but I would expect them to be solid as well, and a no name you could have zero training or the same resources as a BB or MM. Some no names don't model at all (or so I have seen on this site) and you'd be subject to learning on your own.

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Jun 3, 2020

I interned at a small boutique and was an analyst at another small boutique, so to answer your question it depends. During my internship we had dedicated training time across the summer with weekly sessions where me and a couple of other interns spent a few hours building a three statement model of a publicly traded company we chose with one of the associates. We went over basics of a three statement model, common excel shortcuts, and eventually also created a DCF. At a certain point incoming analysts joined the team and went through similar training as well. It wasn't an actual class like TTS, but what we learned there really helped set us up with financial modeling expectations fo the boutique.

On the other hand, the boutique I joined after college had zero training. The associates / VPs were generally happy to help answer questions, etc., but I had to figure things out on my own. That really entailed just taking some of their most commonly used financial models and recreating them from scratch in order to learn the mechanics of how each one worked.

Honestly, at the end of the day although the training sessions were nice, if you're proactive I wouldn't worry too much about it. I'd just see if they have training available and if not, just see what some of their most used models are and try creating them without using a mouse / clicking on things. If you reach a wall just try googling shortcut instructions and you should be set with the basics.

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Jun 3, 2020

You're expected to do a lot more at boutiques on your own compared to at a larger firm because of less employees. At a boutique, the deal team might be you and MD. Larger firm will at laest have an associate or VP in betweenn

Will update my computer soon and leave Incognito so I will disappear forever. How did I achieve Neanderthal by trolling? Some people are after me so need to close account for safety.

Jun 3, 2020

The boutique firms I was with always had 3+ people on the deal teams including the MD and analyst, but yeah it really just depends on the firm and agree, definitely expected to do more on your own due to less employees and less resources in general.

Jun 3, 2020
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