Right out of undergrad : BB IB or MM PE ?
PEMFvsBBIBright out of undergrad is a no brainer.
But what aboutPEMMvsBBIB? Pay slightly better inBBIB, lifestyle slightly better (depending on firms, could be significantly better) inMMPE, so I guess it all comes down to exit opps (or more precisely post-analyst years opps).
I supposeBBIBanalysts are better positioned thanMMPEanalysts to getMFPEassociates roles. But manyBBIBanalysts don't getMFPEassociate offers and eventually end up inMMPEfirms.
Would it make sense to chose aMMPEanalyst offer right out of undergrad over aBBIBanalyst offer ? Regarding long-term career prospects does spending 2-3 years inIBbeforejoining the buysideconfers an advantage vs going directly to thebuy side?
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This question is phrased very poorly. MFPE orBBIBisn't a no brainer. Neither is MFPE or MMPE. It all depends on your individual interests and long-term goals. If you want to invest in larger businesses than MFPE is good for you. If you want more opportunities to make operational improvements and be closely involved with portcos, MMPE is good. If you aren't sure what you want, there are few better roles thanBBIBin an industry group you enjoy.
For your analyst stint, if you 100% want to be an investor, it is a no brainer to takeBX/KKR/SLP/Bain/Vista/WP over EVR/PJT/GS/MS. The banking stint is overrated. You can't even make the excuse that the modeling reps you get is important because manyPEfunds hire consultants and will teach you firm specific modeling. Each one of those programs have robust training that will set you up better for a career in investing. Also, banking doesn't provide that much more optionality thanPEand each of those shops pay more than allBBsexceptBXand on par withMoelis and PWP.
I had twoPEMFanalyst offers and took a top banking offer instead so no its not a no brainer lol. I liked the people at my bank a lot more than the people that interviewed meat theMFs-- there are only 5-10 really goodPEfundsthat take analysts, but 25-30 'top notch'PEfunds (last fund >10B) that recruit associates from the banking analyst pool. I decided I'd rather wait to find somewhere that felt like a better fit. I'm near the end of my banking analyst stint now and received 2 topMFoffers on cycle, declined both for fit and am heading to a top long/short fund in a few months. Banking wasn't always (in fact was rarely) fun but I wouldn't trade my experience for the higher pressure, lower comradery corollary role as aPEanalyst.
There are more important things in life than working at aMF
BBIBeasy
Personally, I'd take Audax/Crestview over BofA. I myself chose MFPE (KKR/Bain/SLP/Vista) over EVR andGS.
Audax is a very respectedMMand has been hiring analysts for over a decade. They place well intoHBS/GSB, and the training you receive is top notch. Many analysts have moved upstream from Audax or have moved to other top UMM/MMshops.
Crestview is very unique. You get promoted to associate after one year, which looks great for your resume. Their associates seem to go to great shops UMM/MMshops afterwards with a fewMFexits sprinkled in there.
As someone who recently just made this decision here's my perspective on whyBBIB>MMPE.
When I first got theMMPESA我认为我是一个文字的作用god. The buyside superiority complex immediately started getting hammered into me by the associates and I started looking down at all my friends who took shit banking offers. Suffice to say my thinking couldn't have been more flawed when I realized how shit of a proposition it would actually be to start your career at a no-name sub $5bn fund in a lackluster industry. Maybe I could have gotten lucky and secured the associate promote but in the 50% chance that didn't happen I would have been totally screwed. Try recruiting from aPEfund no one has heard关于与infinite bankingkids from solid shops.
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