| Topic Name: |
Large vs. Small Banks.. |
| Message Name: |
comp & exp |
| Date Posted: |
04/19/2000 |
| In Reply To: |
What are the advantages and disadvantages of working at a bulge bracket (say DLJ or Chase) or a small firm (m&a boutiques)? Do analysts get more experience and responsibility at the smaller firms? How's the salaries and bonuses played out in smaller companies also?? Thanks.. |
| Message: |
My experience has been that compensation starts out very comparably but diverges as you move up the ranks. The experience factor is tricky. You do get more experience at an earlier age, and you do get more exposure to clients and the deal process, but you don't get the same type of experience. At an M&A boutique you are not going to drafting sessions for offerings, and you are not involved (for the most part) in headline activities.
More Points:
It is more difficult to transfer from a boutique to a larger firm than it is to transfer from a bulge bracket firm to a boutique.
Good deal processors rise through the lower ranks the fastest at larger firms, where good business development people rise the fastest at smaller firms.
There is less grunt work at smaller firms because there is less resources to contribute towards doing this type of work.
Finally, this is pure opinion, but there tends to be more early advancement opportunity at boutique banks for high performers and more structure at larger banks.
All of this is just opinion.
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