mid BB IB vs Industry Boutique vs top BB S&T
I'm fortunate to receive offer at industry boutique (MTS/Shea/FT Partners) and in the process for Citi/Bofa and top BB equity S&T (GS/MS/JPM). My offer would expire by the time I hear back about the BB IB and S&T, so I would have to renege if I took the one of the other two. I don't want to renege unless it's for something that's really worth it.
The industry boutique is in an area that I'm interested in and the pay is above street. I'm not sure about exit opps as I also want to pivot towards something else (PE/HF/Corp Dev) after my analyst years.
Citi/Bofa obviously has a better brand and exit opps but I would be taking a pay cut.
I'm definitely more interested in the market facing work of S&T but not sure what the career progression would look like for here on out.
Would love to hear if anyone has any inputs on this situation and if it would be worth taking BB IB and S&T over the boutique. Thanks!
Based on the most helpful WSO content and insights from various threads, your situation is indeed a fortunate but complex one, with each option offering its unique set of advantages and potential drawbacks. Let's break down your options based on the insights gathered:
Industry Boutique (MTS/Shea/FT Partners):
Mid BB IB (Citi/BofA):
Top BB S&T (GS/MS/JPM):
Considerations: - Long-term Career Goals: If pivoting to PE/HF/Corp Dev is a strong long-term goal, the mid BB IB route might offer more aligned exit opportunities. However, it's essential to weigh this against your current interest and the specialization offered by the boutique. - Immediate Financial Consideration: While the boutique offers above street pay, consider the long-term financial trajectory and the potential for bonuses and career advancement in BB IB and S&T roles. - Personal Interest and Work Style: S&T roles are market-facing and can be exhilarating for those passionate about markets. If this aligns with your interests more than transactional work, it could be a compelling reason to lean towards S&T despite the potential misalignment with your exit goals.
Reneging an Offer: Reneging on an offer should be a last resort due to the potential bridges burned. If you decide to accept the boutique offer, communicate your decision transparently with Citi/BofA and the top BB S&T firms, expressing your interest in staying in touch for future opportunities.
Ultimately, your decision should align with your long-term career aspirations, personal interests, and financial needs. Each path offers a unique set of opportunities and challenges, and there's no one-size-fits-all answer. Reflect on what aspects of your career you value most and which option best aligns with those values.
Sources: What offers would you take over a BB S&T?, BB vs. Boutique? Why always BB, Boutique IB offer vs. stay non-big 4 TAS, Can't decide between soph internship offers (Equity Research at BB vs IB at a Boutique)
This is hard to give advice on because the 3 banks are actually quite different, are in different geos, and have radically different culture. I'm more familiar with MTS/FTP but if it's MTS I would consider it over Citi/BofA but I would not consider FTP.
If you're highly interested in HC I don't see why wouldn't pick MTS. What industry groups are you interviewing at for Citi and BofA?
Thank you so much for the color. The industry boutique's rep is similar to FT partners but in a different industry. BB IB is generalist.
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