It’s always tough to generalize about boutique banks because there is such a broad range of them. There are boutiques that have cultures similar to those of bulge bracket banks and there are plenty of boutiques where the lifestyle is significantly better (and some that are worse). Having said all that, there are some generalizations that can be made that will hold true much of the time. Analysts and Associates at boutiques often have the opportunity to take more responsibility than their bulge bracket equivalents, as deal teams are often smaller. Junior bankers at boutiques also tend to have more interaction with senior bankers and clients and may be invited to attend more pitches and meetings. There also tends to be less “face time” at boutiques than at bulge bracket banks, meaning fewer hours spent in the office.