Hey Guys,
I'm aggressively applying, and have/or potentially may have the following offers. If my goal is to ultimately join the IBD team in a bank and make MD, which should I take up? Would appreciate it if you could rank them accordingly:
- Investor Relations role in an asset management
- Transaction Advisory M&A in a Big 4
- Crowdfunding (with equity included in comps) and a potential lateral movement to a boutique M&A firm that is a parent company of this crowdfunding place from its owner itself
- M&A in boutique
- ECM in boutique
A bit of backstory:
I currently work in a bank under the Capital Market space with roughly 2-3 years experience, but due reasons I am unable to disclose, I cannot move laterally to the IBD team. I do not particularly have any financial modelling experience, although have deal experience, which makes me hesitate in applying for banks directly in an IBD department.
Alternatively, I'm also thinking of taking a MBA and making a switch, but worry my lack of IBD experience will stop me from many options.
Thoughts?
Thanks!
Assuming you can get into a good MBA program (say top 15 or 20), that's going to be your best bet. You don't need pre-MBA IB experience to land a good spot post MBA.
Age / seniority? I think your best bet is to do M&A at a boutique and lateral to a larger firm. MBA is expensive and honestly doesn't do much for you given your experience already.
I’m in my mid twenties and currently an analyst still
M&a boutique - real experience triumphs an MBA. Should be relatively easy to lateral. Done it personally before and have also done recruiting at the AN level. MBA doesn’t do much besides give you access to standard associate recruiting processes. But you should be able to get there without spending the money imo.
Not true. A top 15-20 MBA will do way more than 2 years experience at some no-name bank that offers shit experience (small, niche deals, advisory fluff crap, etc.). Top 15 - 20 MBA will probably do more for him than even a legit boutique (assuming it's not EB).
I would have to disagree - top 15-20 MBA would probably get you in the door at banks at the associate level but I still think M&A and IBD experience would be better than an MBA, assuming the boutique is a legit bank. Even if it's a no name shop (or relatively known in a niche space), if you're doing relevant work, that would still be more helpful than having an MBA without any prior IBD experience in my opinion.
This is from personal experience, lateraling is easy if you already have IBD experience. The hardest part is getting your foot in the door. Additionally, I was the staffer at a BB and helped with recruiting for a BB and my previous MM firm. If you have IBD experience, your resume will definitely be looked at in a pile of ~150 resumes.
An MBA may be helpful getting you access to a strong alumni network and on campus recruiting but that's pretty much it. Most firms are now actually trying to rely less on MBA recruiting and focus more on A-to-A promotes (this was the case at my BB). And the strongest lateral hires in my previous group were guys that came from not well-known boutique shops.
PM your offer if you'd like, I can try to help you out here if you tell me which boutiques you are talking to.
This is absolutely putting the cart before the horse - go get those offers first then we can rank them. No point in us telling you M&A boutique is best if you never have the option.
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