top BB IBD vs special situations buy-side

caeq's picture
Rank: Baboon | banana points 145

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?

Investment Banking Interview Course

  • 7,548 questions across 469 investment banks. Crowdsourced from over 500,000 members.
  • Technical, behavioral, networking, case videos, templates. All included.
  • Most comprehensive IB interview course in the world.

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.

Sep 20, 2017

Know someone who summered there and didnt go back. It's under a big name but it's a relatively new group.

Learn More

7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.

Sep 20, 2017

sent you a PM

Sep 20, 2017

Yeah I've been in contact with 3-4 people in the group and it was one of the places I was gunning for coming into this recruiting cycle but you have to realize that their program is like 3 years old and they only hire 2-3 interns per year. I.e. it is very unstructured and you will not be getting the same formal mentorship / training that you would get at a BB. Out of MFs, I think only BX is known to have a structured analyst program.

Sep 20, 2017

Yeah both interns left from summer of 2016. It's not seen as desirable by most W students now because of that.

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