Check out the boutique investment bank!

In addition to Bulge Bracket's nine major investment banks, boutique investment banks are also quite popular now.

The founder of the boutique investment bank also has more than ten years of working experience in large investment banks, and then started his own business. Now they have more and more projects in their hands, and they have successfully recruited many junior and senior bankers to join their own teams, temporarily without supervision, and at the same time, they can meet the various salary expectations of employees.

Compared with major international investment banks, most boutique investment banks focus on a few countries, such as European M&A market, but also focus on regional financing of high-tech enterprises in Silicon Valley. People like Lazard and Prella Weinberg are global.

Boutique investment banks mainly do M & amp； consulting (M&; A consultation), less involved in underwriting and trading business.

At present, the business scope of mainstream investment banks in the industry is divided into:

Mainstream boutique investment bank

1. Lazard Investment Bank

A legendary investment bank, known as the "originator of mergers and acquisitions", focuses on mergers and acquisitions and asset management, with a market value of nearly 7 billion US dollars and a scale of about 2,500 people. There are nearly 20 offices in the world. ?

2. greenhill & Company

The famous cutting-edge M&A investment bank was founded in 1996 by robert green F. Schmidt, a former senior banker of Morgan Stanley. It focuses on corporate mergers and acquisitions, with a market value of about1500 million dollars and a scale of about 200 people. It has a strong business in Europe and North America and an office in Asia. ?

3.Piper Jaffray

As one of the century-old shops on Wall Street, it focuses on serving small and medium-sized enterprises in certain industries, and its international business is limited to China and London, among which China accounts for more than 90% of its international business, so its degree of internationalization is relatively weak.

4. Pall Mall Capital (Parma Capital)

British boutique investment banks are closely related to AGC funds.

5. Robbie Warshaw (Robbie Warshaw)

A three-year-old London investment bank has only nine people, but it is the financial adviser of Shell's acquisition of BG Group and AB Miller's acquisition of AB Miller, which has changed the corresponding industry structure and made peers envious.

Simon Robbie, the founder of Oxford University, used to work for Morgan. He is the head of Morgan Europe and one of the top ten dealmakers in the City of London.

In terms of wages, per capita, boutique investment banks pay employees higher wages and pay them in cash. However, as we mentioned before, a large part of the salary was actually taken away by the top management. Some compensation experts believe that if you hold the position of Managing Director (MD) or above in a boutique investment bank, your salary is more like a hedge fund partner than a bank employee.

Advantages of entering boutique investment banks

It is easier to get job opportunities.

The recruitment process of boutique investment banks is often more flexible, and the recruitment targets are not limited to the target students, and the recruitment time is also more flexible. In addition, don't worry if you just miss the peak of job hunting, because boutique investment banks are more likely to accept resumes all year round.

Because boutique banks have fewer internal levels, if you write an email carefully and send it directly to the senior bankers of these companies, you will have a greater chance of receiving a reply.

A springboard for large investment banks

If your ultimate goal is to enter a big investment bank, don't worry, even if you have only worked in a boutique investment bank for a short time, once you emerge, those big investment banks will be more willing to accept you.

In fact, I personally know eight or nine associate directors of Wall Street investment banks who used to work in little-known boutique investment banks. This further shows that entering this industry is the most difficult step. Once you work in an investment bank, you can count as an insider in any company.

☉ Good job-hopping opportunities

Although it is generally believed that only analysts who have been engaged in investment banking for two to three years in top banks can get the best private equity and venture capital jobs, their working experience in boutique investment banks is equally or even heavier.

A friend told me that when he interviewed a venture capital company a few years ago, the partner of a well-known venture capital company in China told him that they would never recruit people from the big investment banks on Wall Street.

His reason is that the performance of those people from big investment banks is not satisfactory, and their job is to complete the tasks assigned by their superiors, without any creativity, leadership or initiative. On the contrary, people who come out of boutique investment banks are in high spirits, can jump out of the role of traditional analysts, can exert leadership and work hard to complete their work. Of course, it's not that I don't have a good working experience in big investment banks.

Working experience from boutique investment banks will not be less than that from big investment banks. Whether you use it as a springboard or like the working atmosphere of a boutique investment bank, the most important thing is to accumulate experience.