Investment Banking - Middle Market Firms?

[abc123]

I know that banking is a frequently discussed topic around here, but I did a search and didn't find anything that covered my topic, so hopefully I'm not asking a question thats been repeated 100 times...

I'm a currently junior in college, and I'm interested in pursung the banking route, both for a summer internship, and possibly after graduation. While I've read all about bulge bracket firms, I havn't seen much info about middle market/boutique banks. What are the pros and cons? I assume less pay, less "glamour", and probably more reasonable hours, less office politics, but what are some specifics? Whats the good, the bad, and the ugly with this size of banks? I'd really appreciate hearing about anyones experiences, stories, or words of advice.

I'm also looking to stay in the DC/Baltimore metro area, if anyone has personal experience with specific banks, I'd be very interested to hear your point of view, whether on this thread or via a pm.

Thanks in advance for any help gents!

 

[Joffrey]

GO to the Vault.com and search the investment banking forums. There's Bank of America in Baltimore. I don't feel like doing research for you so I can't mention other firms off the top of my head. BUt there are a few in this area. get crackin'

 

[abc123]

Thanks for the reply. I have found and applied to a number of places over the past several weeks. What I am looking for is not a list of area banks, but rather insight to the ways in which smaller firms differ from larger ones (of course, specific examples would be great, but I understand that people probably don't want to speak in too great detail), and what any members who have experience in such places would consider to be the pros and cons.

 

[Joffrey]

Smaller firms have less workload (read less deals) and less pay, however you'll probably gain by having more responsibility (less analysts and associates being hired at a time)

 

[whnay.]

If you want to stay in DC I'd suggest checking out Hovde, a boutique Investment Bank that specializes in bank M&A and offerings.

I work for a middle market firm in Atlanta and generally speaking the hours are not as rough and the pay is less but I've found the people to be more personable and the quality of life better.

 

[scnupe7]

Legg Mason and M&T are in Baltimore also.

There are also various private finance and specialty finance shops in the DC area. Allied Capital, American Capital Strategies, Gladstone Capital, MCG Capital, to name a few, that do everything from senior debt to equity investments.

 

[imageWIS]

Originally Posted by whnay.

If you want to stay in DC I'd suggest checking out Hovde, a boutique Investment Bank that specializes in bank M&A and offerings.

I work for a middle market firm in Atlanta and generally speaking the hours are not as rough and the pay is less but I've found the people to be more personable and the quality of life better.

Yes, but doesn't one's quality of life also improve with one's paycheck?

Jon.

 

[JBZ]

Originally Posted by imageWIS

Yes, but doesn't one's quality of life also improve with one's paycheck?

Jon.

Speaking as an attorney who has worked at a large law firm and now works at a much smaller firm for less money, all I can say to this is

 

[imageWIS]

Originally Posted by JBZ

Speaking as an attorney who has worked at a large law firm and now works at a much smaller firm for less money, all I can say to this is

I was being factious, obviously.

Jon.

 

[whnay.]

If you work until 4 am every night it doesn't really matter how much money you make.

 

[upstarter]

Can someone give us the amount of hours they work(ed) while in a middle IB? I'm curious what "more reasonable" means.

Thanks,

Upstarter

 

[RJman]

Originally Posted by whnay.

If you work until 4 am every night it doesn't really matter how much money you make.
+1

 

[raley]

What I've heard through the interview process so far isn't that it is the hours, but rather the unpredictability (they may be lying). In that, you may be getting ready to go out for a night on the town and you get an email on your blackberry saying you have to come into the office.

 

[whnay.]

Originally Posted by upstarter

Can someone give us the amount of hours they work(ed) while in a middle IB? I'm curious what "more reasonable" means.

Thanks,

Upstarter
70 -80 hrs