Big4 M&A vs MM bank


#1

Hi everyone

First time poster- am interested in hearing your honest opinions on this.

Trying to sort out whether it is better to do Big4 M&A or go to a middle market (European) bank. Both jobs in London.

Big4 M&A
Pros:

  • Tends to have quite high deal flow (tends to be top 20) although obviously are small to mid cap deals
  • ‘Nicer’ work environment? (although = slow pace?)
  • ACA (although will this actually be valued if moving to bank afterwards?)
    Cons:
  • Lower pay
  • Smaller deals
  • Prestige factor

MM Bank
Pros:

  • Still a bank
  • Higher pay
    Cons:
  • Not as prestigious as BBs of course and would still be small/mid cap deals
  • Work environment not as high caliber as BB but also not ‘nice’ like big4

I guess what I’m mostly asking is, given that both give you experience in small/mid cap deals, which would be better perceived for exit opportunities? How ‘bad’ does a bank have to be such that the big4 is a better option for someone who wants to do M&A? Given the increasingly more fragmented landscape for M&A advisors could big4 rise in perception?

Curious about everyone’s thoughts, thanks in advance.


#2

I would advise Big4. the exposure you get is unmatched when compared to MM plus you will see when you apply for quite alot of these MMs they have a list of employees they want to know if you have every worked for and the BIG for always feature in this list. MM not so much

My personal opinion