top BB IBD vs special situations buy-side

caeq's picture
Rank: Orangutan | 309

Summer analyst positions. One offer in hand, one interview process ongoing; quick turnaround required for decision, so evaluating options now. Platform IBD offer, ultimate goal is something distressed. My gut is the buy-side opportunity, but I have no knowledge of the number of FT offers extended to summer analysts in that group, while I'm fairly confident of receiving a FT offer from the BB if I summer there.

Should I be lucky enough to have both offers, what should I do?

Comments (11)

Sep 20, 2017

If this is something like a KKR SS or BX TO, you should take it. Sounds like thats what you want to do long term any way. If its not a big brand name, you might want to consider taking the BB since you'd have better exits to top distressed shops from the BB vs a mid-tier special situations fund

Sep 20, 2017

it's definitely a big brand name, my biggest reservations would be not knowing the likelihood of getting a return (and potentially trying to re-recruit while not having sell-side experience at all) and missing out on the network/honestly the social experience of having a larger analyst class vs 2-3 (if that) people in my year.

Sep 20, 2017

wouldn't you just be able to recruit FT for some PE or HF at that point if you have this summer experience?

Sep 20, 2017

Assuming it's KKR then speak to the person who was there last summer. Two years ago the interns hated it, but it's possible that it improved. If you take it and want to leave you'll be well positioned for buyside and top sellside regardless.

Feb 9, 2019

why is distressed better than special situations. Am I missing something?

Feb 9, 2019

They're very different. Most people find Distressed more interesting than special situations (which is very broad but a lot of times relates to merger arbitrage or similar).

Sep 20, 2017
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