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Comments (50)

  • Analyst 1 in PE - LBOs
May 4, 2020 - 3:59pm

good deal flow, super lean team, but brutal culture. friend who worked there mentioned regular 100-hour weeks. really small group so facetime is huge and it's pretty difficult to slip out of the office.

Not sure about exits but the people there are all really smart so you're sure to learn a lot.

  • Prospect in IB - Gen
May 4, 2020 - 4:04pm

Interesting to hear about the 100 hour work weeks. As someone currently recruiting, they seemed to advocate work-life balance.

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  • Analyst 1 in IB - Ind
May 4, 2020 - 8:13pm

Heard that DBO has a solid group of senior bankers w/ good connections and has been able to work on several $1B+ deals.

Anyone know how DBO stacks up against other boutiques?

May 6, 2020 - 4:12pm

is there any other firm that u have an offer to? or what other firms r u looking to recruit for?? having that baseline will make a better baseline as to is this a good choice

  • Prospect in IB - Gen
May 7, 2020 - 12:06am

Ik someone who worked there and can say DBO is a solid shop. I'd say underrated, largely b/c they don't seem to care much about getting their name out.

The firm was founded by 3 MS guys who have strong relationships with ppl in the industry. They've added other top-notch partners too. They have a small team but work on solid deals, so I'm sure you'll get lots of hands-on work. Maybe even too much work as others have mentioned although you will be compensated. Not sure what else you're looking at, but I'd say this is a good opportunity.

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  • Intern in IB - Ind
May 7, 2020 - 12:12am

really good, top notch comp but you will work hard, would sign over mid tier bb

  • Intern in IB-M&A
May 7, 2020 - 12:33am

Agree that you'd probably get a more meaningful experience than at many other firms. Small group of smart folks. If you like the boutique env and don't care to work for the biggest name, I'd sign

  • Intern in IB - Gen
May 10, 2020 - 3:45am

Really interested in DBO. Does anyone know if they are still recruiting? Seems like most bankers are from Berkeley, Notre Dame, Stanford, so do they just do OCR?

  • Prospect in IB-M&A
May 10, 2020 - 4:41am

Go to one of the schools you mentioned, and you'd just apply on handshake. Couldn't imagine you wouldn't get an interview with some networking. They do move fast though so reach out ASAP.

  • Prospect in IB - Gen
May 10, 2020 - 11:07am

As said above, they do move really fast. Interviews are fit and background based, not very technical. You should have your story down, why you want to work in IB, why DBO, why boutique. It seemed more like a conversation to me. They have a few rounds before Superday.

  • Intern in IB-M&A
May 10, 2020 - 4:51am

I've heard hours are pretty intense but I think you'll definitely get very good IB experience. That being said, I would also consider the fact that you won't be having a traditional analyst experience in which you have a class of peers to build out a network with.

  • Analyst 1 in IB - Gen
May 10, 2020 - 5:57am

Brian White who heads DBO's cybersecurity practice was recently appointed to the Homeland Security Advisory Council by the secretary of DHS. As others have mentioned above, they've got some really smart people on the team.

DBO has many partners/analysts while very few people in the middle. This should give you plenty of access to these experienced vets. Fyi, friend of mine worked there until recently.

  • Analyst 1 in IB - Gen
May 10, 2020 - 6:08am

Just adding on, what others have said about long hours is true but comp is well-above street. Friend was making ~20% more than me, and I'm paid above street.

  • Analyst 2 in IB - Ind
May 10, 2020 - 11:03am

lack of middle mgmt would appear to be a common trend across any new boutique - why would associates / vps worth their money at top BBs or EBs want to lateral to a new shop? better to stay put unless they got hosed on bonus but even then they have so many other options than lateraling to a brand new shop

  • Prospect in IB - Gen
May 10, 2020 - 8:33am

Very lean group of smart people. Senior leadership were group/division heads at Morgan Stanley.

  • Analyst 2 in IB-M&A
May 10, 2020 - 4:47pm

I summered at FTP and know a friend who works at DBO, so I can touch on a few points.

Reputation: FTP has been around for twice as long as DBO, so FTP has a bigger name. This is especially true as you get closer to the FinTech space.

Coverage: FTP only does FinTech deals. While mainly working on tech deals, DBO sees itself as a generalist. Friend recently worked on some NASCAR deal last yr.

Services: Both DBO and FTP primarily work on M&As/cap raises. DBO has a ton of people with MS Financial Sponsors background, so they also focus on GP advisory.

Comp: Comp is good at both places. Don't know how much my buddy made, but looking at some of the posts above, DBO probably pays better. FTP not bad though.

Culture: FTP's culture is notoriously bad and was one of the reasons why I didn't go back for FT. DBO guys seem to get along great. Friend goes on vacations with the entire firm every yr and tells me stories lol

Exit Opps: Just browse LinkedIn, but you'll find good opportunities either way. Depends on what you want to do tbh.

  • Analyst 2 in IB - Ind
May 11, 2020 - 2:46am

did you summer at FTP this past summer? my friend who interned there this past summer said hours werent as bad as he envisioned.

  • Prospect in IB - Ind
May 11, 2020 - 3:21am

Where did USA come from in this discussion lol But agree - would take DBO/FTP over USA. Knowing FTP's brutal culture/manamgent issues, I'd probably take DBO too.

  • Analyst 1 in IB - Ind
May 10, 2020 - 10:40pm

Interviewed with both firms last year for their SA positions (offer from FTP/ no offer from DBO). I would've taken DBO if I could. The people there are wicked smart as many have already pointed out. The interviews at DBO are almost entirely behavioral, so you get to really learn about each person. If you want a solid generalist experience at a boutique, this is it.

May 11, 2020 - 12:06am

Friend works there. The pay is phenomenal and you get crazy direct exposure to the dope MS guys at the top but he was seriously thinking about reneging on his return because the hours are insane. Consistent 100+ hour weeks, analysts have to be in at 7:00am at times, and (as you can expect with super lean deal teams) a lot of responsibility goes hand in hand with a lot of culpability if you fuck up. The people there are apparently sharp and great to work with, though.

  • Prospect in IB - Gen
May 11, 2020 - 7:14pm

A lot of people have been talking about DBO having great pay. I'm curious...any numbers for Analyst comp? How great is the pay really?

  • Associate 1 in IB - Ind
May 11, 2020 - 9:10pm

Old housemate worked there and brought home 175k his first year (90k base). He says the pay is in line with EBs. Ended up leaving the firm soon after though because of the hours.

  • Associate 2 in IB - Gen
May 13, 2020 - 10:44pm

I'd say there are a ton of similarities between the two firms. M Klein was just starting out when I entered the industry several years ago. It used to be a one-man-shop before expanding in recent years.

Both DBO and M Klein have dealmakers from BBs leading the way. The junior people at both firms seem very well-educated as well. DBO (as someone else mentioned above) has a core group of Cal Berkeley, Notre Dame, and Stanford graduates. M Klein has its own group of Wharton and UChicago grads.

They're also similar in that both firms work on impressive deals without making much noise. It doesn't seem like either firm cares much about building a huge reputation for themselves, likely because people who know about the firms already have great reviews anyway.

If you are a junior person trying to get a quality IB experience, working at these smaller shops with reputable partners makes a lot of sense. I assume it's competitive to get in though.

  • Intern in IB - Ind
Apr 19, 2021 - 9:09pm

M Klein does a lot more mega deals and also has a huge SPAC focus. Analysts there regularly work on Churchill Capital stuff from what I understood speaking with an analyst. 

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