by: mandi_09
Total views: 4
Word Count: 492

When most out there decide they want to do investment banking, they usually go after the big names: Goldman Sachs and Morgan Stanley. But sometimes going to one of these places is not a realistic option. If the hiring market is bad, if you have no previous finance experience, or if you are making a career change, it will be all but impossible to start at the top. If this is the case, you should consider the boutique investment bank. The term is used differently all the time, but generally refers to both "middle-market" banks that have an international presence but just work on smaller deals than the brand names, as well as to true boutiques that might only have 1 or 2 offices. The Main Difference Between A Bulge Bracket And A Boutique People usually say the size of deals makes the difference. While Goldman Sachs may advise on $100 billion acquisitions, a boutique will usually stick to deals under a billion dollars and often far less than that. That may sound like a lot of money, but it's almost nothing to huge companies. Other commonly cited differences are working in smaller groups at a boutique, getting more responsibility, and doing more than just crunching numbers. These can be true, but I don't think they're 100% correct. The main difference, in my view, is that boutique experiences are much more random than those at bigger banks. Fooled By Randomness You can get good experience at a boutique and learn more about deal-making than you would at a bulge bracket. But you might also spend all your time doing useless work if the senior bankers can't make rain. I've seen both happen. One friend at a boutique learned the job in 3 months because of all the responsibility he took on; another friend spent most of his time making coffee and doing administrative duties! You may get a "better experience," but your chances of having good exit opportunities are much higher at a bulge bracket. But Is It The End Of The World If I'm Working At A Boutique? No. But if you do go that route, you should very carefully investigate the work environment, deal flow, and everything else before jumping in. To get a more accurate view, try speaking with Analysts and Associates rather than higher-ups. There will still be much risk because of the time lag between when you interview and when you start. Boutiques are particularly vulnerable to "star" employees leaving and causing havoc, significantly impacting the business. In the end, I would recommend going to a boutique only if you have absolutely no other options or if you have some kind of personal connection with the firm or know a wide circle of people there. Otherwise, do the safe thing and go to the top name.

About the Author

Ian Spellfield, a former investment banker, advises students and young professionals on how to get investment banking jobs and work effectively once they get them. You can read his blog, Mergers & Inquisitions, at http://www.mergersandinquisitions.com/ .

---

View PDF | Print View

---

Rating: Not yet rated

--Choose-- 0 1 2 3 4 5

Comments

No comments posted.

Add Comment

You do not have permission to comment. If you log in, you may be able to comment.
Next Article - Hack License - How to Get a Taxi License in New York City
Previous Article - How Investment Banking Resumes Are Read

More Related Articles In This Category

1: Electrical Retraining: Its Easier Than You Think
2: Want A Career In Plumbing?
3: How To Ace A Telephone Interview
4: How To Perfect Your "Soft" Skills
5: Are Happy With Your Career?
6: 3 Easy Steps To A Career Comeback
7: A Break Can Revitalize Your Career
8: Take Charge of Your Career
9: Three Travel Jobs As A Way To Tour The World
10: Top 10 Reasons to Give Your Boss the Pink Slip
11: Video Game Jobs - How To Become A Game Programmer
12: Why Not Start Training As A Plumber
13: How About Getting Some Career Training
14: How Hard Is Electrical Training?
15: Managing Your Career Effectively
16: Earn While You Learn
17: Leaving Your Job - Be Professional
18: How To Answer Difficult Interview Questions
19: 5 Hints That You Should Start Looking for a New Job
20: How to Overcome the Fear of Public Speaking
21: Being Self Employed Is Not For Everyone
22: My Guide to Effective Resume Writing
23: How To Find A New Job Online
24: Video Game Jobs - How To Become A Game Designer
25: Choosing A New Business Opportunity

---

For WebMasters

Link This Article - HTML Code -

<a href="http://americanahost.com/articles/career/boutique-vs.-bulge-bracket-investment-banks.html" target=_blank>Boutique Vs. Bulge Bracket Investment Banks</a>

Link This Article - BBcode -

[url=http://americanahost.com/articles/career/boutique-vs.-bulge-bracket-investment-banks.html]Boutique Vs. Bulge Bracket Investment Banks[/url]

Copy This HTML Code To Put This Article In Your Web Site.

<h1>Boutique Vs. Bulge Bracket Investment Banks</h1><br><br> <br><br> When most out there decide they want to do investment banking, they usually go after the big names: Goldman Sachs and Morgan Stanley. But sometimes going to one of these places is not a realistic option. If the hiring market is bad, if you have no previous finance experience, or if you are making a career change, it will be all but impossible to start at the top. If this is the case, you should consider the boutique investment bank. The term is used differently all the time, but generally refers to both "middle-market" banks that have an international presence but just work on smaller deals than the brand names, as well as to true boutiques that might only have 1 or 2 offices. The Main Difference Between A Bulge Bracket And A Boutique People usually say the size of deals makes the difference. While Goldman Sachs may advise on $100 billion acquisitions, a boutique will usually stick to deals under a billion dollars and often far less than that. That may sound like a lot of money, but it's almost nothing to huge companies. Other commonly cited differences are working in smaller groups at a boutique, getting more responsibility, and doing more than just crunching numbers. These can be true, but I don't think they're 100% correct. The main difference, in my view, is that boutique experiences are much more random than those at bigger banks. Fooled By Randomness You can get good experience at a boutique and learn more about deal-making than you would at a bulge bracket. But you might also spend all your time doing useless work if the senior bankers can't make rain. I've seen both happen. One friend at a boutique learned the job in 3 months because of all the responsibility he took on; another friend spent most of his time making coffee and doing administrative duties! You may get a "better experience," but your chances of having good exit opportunities are much higher at a bulge bracket. But Is It The End Of The World If I'm Working At A Boutique? No. But if you do go that route, you should very carefully investigate the work environment, deal flow, and everything else before jumping in. To get a more accurate view, try speaking with Analysts and Associates rather than higher-ups. There will still be much risk because of the time lag between when you interview and when you start. Boutiques are particularly vulnerable to "star" employees leaving and causing havoc, significantly impacting the business. In the end, I would recommend going to a boutique only if you have absolutely no other options or if you have some kind of personal connection with the firm or know a wide circle of people there. Otherwise, do the safe thing and go to the top name.<br><br> <h3>About The Author</h3> Ian Spellfield, a former investment banker, advises students and young professionals on how to get investment banking jobs and work effectively once they get them. You can read his blog, Mergers & Inquisitions, at http://www.mergersandinquisitions.com/ .<br><br> Keywords: <b>Investment Banking, Investment Banking Jobs, Understanding Investment Banking, Bulge Bracket</b> <br><br>Article Source : <a href="http://americanahost.com/articles"><b>Articles Directory</b></a></br> Article URL : <a href="http://americanahost.com/articles/career/boutique-vs.-bulge-bracket-investment-banks.html" target=_blank>Boutique Vs. Bulge Bracket Investment Banks</a></br> Article Category : <a href="http://americanahost.com/articles/career/">Career</a></br> Article Author : <a href="http://americanahost.com/articles/profile/mandi_09-1113.html">mandi_09</a>

---

Article URL : Boutique Vs. Bulge Bracket Investment Banks
Article Category : Career
Article Author : mandi_09