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May 31, 2024
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its more or less the same.
hours are slightly less at smaller banks, but the known banks work you like a dog
pay is slightly less, and bonuses are slightly less too
Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
bump
When did those mm banks become respected? I missed this memo.
Um, yes it does.
LB, which mm banks are respected...and what is their pay scale?
The sad truth of it all is that being a middle market bank means you can't compete with the big boys. Most analysts at MM banks didn't get into bulges and that's why you'll see tons of them trying to lateral to the BB and not vice versa. In addition, alot of MM banks that claim a "strategic focus" in middle market, for example HLHZ, may say this on paper but are always looking to do bigger deals.
That being said, you're doing the same thing wherever you go, so its not worth it to get your panties in a bunch in the name of prestige/reputation.
Its not a guarantee that the hours will be less. Many smaller banks (HLHZ for example) work their analysts harder than any BB.
There is no guarantee Aspiring Monkey. If anything the MM and boutiques are often less inclined to hire plenty of analyst and in the end shackle you to the table.
For instance, Genuity in Canada is a boutique that pays more than the Big 6 CDN banks, less the the American BB in Canada but work their analyst just as hard as the BB if not MORE. They make that clear in their interviews when they say "We have more 100 hrs weeks than Canadian banks, and nearly just as many if not more than the BB"
needa a banana
I agree MM banks pay slightly less all-in comp. After all, they advise on smaller companies and in turn receive less fees.
They may pay slighty less but remember you have many years to make money and should be looking for the best experience. And the best experience isn't always associated with the highest pay.
Well said, you shouldnt be looking for an extra 10 grand the first few years when weighing options.
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