Capital markets vs M&A inv banking

#1

I have experience in big 4 TS and some CF advisory work. Looking to move into an Inv bank. I have an offer from a mid size investment bank which focuses mainly on Capital Markets work and another offer from a boutique specialising in M&A. Opening salary for the Capital Markets job is fairly low compared with what I’d expect and also the M&A role.

Can anyone advise where the money is once I’ve been in either role for 5 years, and if you have an opinion on which would be better role and long term? Any/all advice much appreciated!

#2

Is the M&A role analyst or associate? If it’s the latter, you can lateral in Private Equity with the right networking. Here the salaries and bonuses are great if you’re at a good fund (e.g. 3i or KKR).

Capital Markets is alright, but more market orientated. It’s not really my cup of tea but the salaries can be good.

#3

Yeah, it’s for associate. I am keen on PE, but more on small-mid size funds rather than the 3i’s of the world. I went through a whole process with a fund that wouldve been perfect but unfortunately came second (out of 300 apparently). I’m thinking m&a will probably be the more suitable route in… the main thing making me think hard about it is the Cap Markets team i;ve met are all very good guys, and not in any way like come m&a bankers i’ve come across - more down to earth.

#4

can you tell me what sort of technical questions may be asked during an interview for equity capital markets? similar to normal investment banking

thanks