Two Offers, Need Help Deciding
I've spent the past few years working for a boutique investment fund and am looking to transition intoIB. I've recently received two offers inNYC.
Option 1: Investment banking analyst in theECMgroup at a topMMboutique.
Option 2: Associate/AVP in the ICG credit management/underwriting arm of aBB. This isn't a traditionalIBrole but it's a newly created department that interfaces with all of theIBdivisions of the firm. My boss knows I'm interested inIBand was told if I perform well in a year or so they would move me into anIBAssociate role at whichever desk I'm interested in.
My concern is how difficult it might be to get promoted from Analyst to Associate at a boutique versus starting as an Associate in a non-traditional role at aBBwith the potential of staying as an Associate when I move to anIBrole. Finally, my manager mentioned it's easier to move around once inside aBBor to anotherBBversus transitioning from a boutique to aBBand I can't tell if I'm being sold or if these are the possibilities.
What are my exit ops for each and the possibilities of lateralling to different firms? My goal is to become an MD one day so any advice on which direction I should take would be greatly appreciated.
Comments (8)
take 2nd and thank me later.
What does ICM stand for? Haven't heard anything abbreviated like that.
credit management/underwriting
Not sure what second role is, but I would take overECM...ECMis really hard to lateral to even coverage group from what I heard.
Any sort of "elite" credit management/underwriting role is likely to be attached to leveraged finance. When they do underwritten/committed deals (almost always forLBOor acquisitionfinancing) the corporate bank has tounderwrite the balance sheetrisk. Corporate bankers are used to underwriting revolvers, so this isn't up their alley.JPMand otherbanks have created these special teams which do the underwriting. It is quite interesting work. I'm in LevFinat aBB. Not sure how hard it will be to move from that role intoIB, but I have seen senior corporate banking associates and junior VPs lateral to associate 1 inIB.
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354manbetxTake the second job. Even though it's basically credit your new boss said he would support your move tofront office if youdo well.
My concern is if I end up liking capital markets work and transition to a desk within theBB, would it be better to be an Associate atBBversus the topMMlong term?
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