{ "media_type": "text", "post_content": "Can investment bankers answer this question: do people always choose bulge bracket (GS, Citi, ML etc) over boutique investment banks (Moelis, Houlihan Lokey etc)?\n\nI am asking this to understand if people will choose T2 firms like Oliver Wyman over MBB in the future. There is a value of working at a high prestige boutique in investment banking. Can the same happen in the future in consulting?", "post_id": "61eb119b2bde37002d59d245", "reply_count": 13, "vote_count": 3, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

Can investment bankers answer this question: do people always choose bulge bracket (GS, Citi, ML etc) over boutique investment banks (Moelis, Houlihan Lokey etc)? I am asking this to understand if people will choose T2 firms like Oliver Wyman over MBB in the future. There is a value of working at a high prestige boutique in investment banking. Can the same happen in the future in consulting?

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Some Elite Boutiques are > BBs. Example few people are choosing citi or credit suisse over Moelis/Lazard/Evercore. HH is not same level

likefunny

Yes always (not an ibanker). No (see above answer for why).

funny

There's a key difference here. Boutiques like Moelis, Evercore give you access to the same type of deals/transactions to work on and same exits to PE as GS/MS with probably a better cash bonus. Also they are better than Citi or Deutsche Bank probably in all aspects. Oliver Wyman & other T2s in consulting gives you slightly worse exits than MBB and probably similar work at the junior level so you get none of those advantages

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Thanks CVS Health

funny

Not a banker, but most of my friends when we were recruiting actively chose based on the team. GS TMT, MS M&A are touted based on elite exits, but in general most chose an EB like Moelis/ Evercore over generalist citi/CS/JPM teams

Interesting. See my reply above to AC1 - there are some parallels.

I also want to add that there are teams at McKinsey doing implementation or operations. However, firms like LEK remain to be pure strategy. If McK continues to grow in non strategy areas, pure strategy shops may be more attractive to recruit from for some firms.

D1. Can you give an example?

It’s Bank of America Merrill Lynch. Don’t forget ML went bust.

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