Pay at analyst level for rising boutiques (DBO, Incentrum, Dyal) vs traditional IB?
Can anyone who actually works at these firms or have relations with employees at "rising boutiques" comment on the pay structure (base v bonus)?
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Idk why you’re getting MS. I’m totally with you. People get insecure when their bank doesn’t have an explicit title so they try to make up some dumb shit like “rising boutique” “elite not-EB” etc.
Toxic
I would argue these companies would provide a better experience than BBs or even EBs would for someone who is interested in being a career banker. Lean teams led by a few rainmakers who jumped from BBs and EBs would provide a lot of exposure to said rainmakers, and these places usually have a faster promotion track.
Obviously there are risks like what if one of the rainmakers died or something, but this would obviously be dependent on ones own risk tolerance.
I think the ideal path would be to start at a BB or EB then jump ship to one of these places.
No, they cannot provide a better experience than BBs or EBs.
pay is competitive across most firms (excluding cv and any rx position right now). mix of base and bonus. wso comp is pretty spot on.
what is the number on wso comp...don’t have access sorry. also, do you get a share of the profits at one of these places
There aren't any salaries for DBO and Dyal on WSO database yet. Incentrum only has 3 and they're around $130k for 1st year analyst. For the larger banks there was just a thread about this: https://www.wallstreetoasis.com/forums/how-much-can-you-expect-to-make-…
This is helpful, if thats a stub year bonus, looks like they pay more than BBs (85K base + 30-40k stub)
What do you mean by traditional IB? Like regional boutiques?
Friend used to work at Dbo partners and he did >165k all-in during his first year. Idk the exact number, but I was at 165 and know he did better. Their base is 90k if they haven't changed it recently. They probably pay EB comp if not more.
Similar to what I've heard from my mentors. 150-180 range.
Comment deleted. Unnecessary. Best of luck with recruiting, all.
Why so salty? You can just scroll past these discussions. It’s not like you’re getting calendar invites to provide inputs.
You're correct. Deleted the above comment. To each their own. Cheers!
Heard dyal is above street
Same
I've never heard of Incentrum, but DBO and Dyal are top boutiques (outside of "EBs"). They get big fees but have ultra lean teams, so there is more money to go around. For firms like DBO and Dyal, they'd rather pay extra and have guys stick around for year 3+ than deal with the disruption of losing an analyst or two.
Incentrum itself is very difficult to break into because it's largely Yale people. Unless you have an existing in to the firm, are from Yale, are specifically experienced in their target industries, or have experience at another merchant bank, it's not easy to break into. That being said, I've heard the culture is great, although work-life balance is about normal (meaning, bad) for a smaller boutique. Heard that comp is average for boutiques but not sure what that means specifically $#s-wise.
How difficult is it to land a FT position at these boutiques? I signed with a (reputable) MM recently but regret not learning more about boutiques like DBO/Dyal. I’m guessing they only have a couple FT spots for lateral candidates right?
may be tough in this market, but perhaps one year out or jump at the associate level could work
Darn I wish I had done more research earlier in the process.
Just wondering why Incentrum is listed with DBO and Dyal? What deals has Incentrum worked on? I tried checking their website and some databases, but I can’t find anything.
I think that's a fair question. It doesn't seem like Incentrum has the same level of credentials.
I go to one of the target schools they interview at for summer internships, but wasn't able to convert on an offer. The caliber of the people they hire is pretty high, and speaking of Dyal they actually have a guy who worked there before. Not to digress from comp, but i felt like culture was pretty laid-back at Incentrum as an outsider looking in. One of the senior guys actually reached out to me letting me know that I wasn't moving on as opposed to them just ghosting me. Can't comment much on why there hasn't been any deals publicized but they did say dealflow was good
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Well, there are hundreds of boutiques. OP is specifically referring to top boutiques outside of what people here recognize as EBs. I can see why DBO and Dyal would be considered top boutiques. But I haven't seen anything re: Incentrum that suggests they're of the same caliber. What deals have they closed that makes them above most boutiques?
I remember reading that at the analyst M Klein pays just above most EBs and all BBs. Would assume at the senior they’re at least paying above BBs because so many people leave BBs for these firms
Incentrum's management team came to my school to give a presentation. The partners decided to create the firm because they believed the public-ownership structure of BBs nowadays makes it harder for them personally to make lots of money. It was like they were being completely transparent about being greedy, I respected that. I have met a few analysts there, describe a work hard play hard culture and pay seems to be good. Analysts I met had more nontraditional finance backgrounds for what it's worth.
can you explain what you mean by nontraditional? seems like most have worked in IB / PE before joining. the exits tho do seem nontraditional based off linkedin - im seeing two who left for early stage vc
Both analysts I met summered before FT and neither had extensive finance experience prior to their internships. I think more public policy oriented internships and no membership in campus finance clubs. If you apply FT they would probably expect IB/PE experience, but for interns they seem relatively open-minded about who to take. Disclaimer, these are personal anecdotes from the event.
How is the comp at the Raine Group? Also a “rising boutique”
Above street. Something like 90k base+ bonus of 50-100% base.
~200k all in first year
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