True, especially if you're from Audit trying to switch to Investment Banking.
Even after 4/5/6/7 years in Audit (even overseas; in London nonetheless), CIMB will offer RM5,500 for an Executive position within CF.

My recommendation: Eat humble pie and re-learn. If you think you're the bomb, prove it in your work + network your way around, progression should come naturally for you.

After all, you are the bomb.

For career-switchers, is it advisable to move into Tier 2/3 @ AVP level then try for Tier 1 or should I just aim for Tier 1 Exec level?

Would like to know whether there is a stigma faced when you join Tier 2/3 IBs.

Don't take it personally; tight deadlines, multiple clients, incompetent superiors/juniors/other ppl you have to deal with, you need to vent once in a while, it's understandable.

Although you have to remember, the person you swore at could be a potential client someday.....

If you're doing some research, I'd like to know the results as well!! Do publish them.

I heard sometime back the major IBs are in recruitment mode again, if anyone's interested.

I like how douchebag2 refers to PwC Corporate Finance as 3rd-tier haha... although, it has to be said, some corporates did come out from there, so perhaps it's not too bad.
If exposure to C-suite / Boards is what you're looking for, just become an auditor; every quarter / year-end you can meet these types of people if you stay long enough.

Hmm...I think we're speaking in a different context altogether; you're probably based overseas where the market is downsizing. Malaysia-wise, CIMB has frozen recruitment, others seem to still be recruiting so that's the basis of my statement. International IBs in Msia is an exclusive crowd, can't get in without a golden ticket. I laughed at your 3rd-tier statement due to the fact that I didn't consider them as an IB, if I'm not wrong the post u were replying to was implying a local 3rd-tier IB.

While I agree auditors meeting mgmt to extract information adds nil value in terms of building up your CV and experience, they do get face-time with CEOs and Boards to discuss future strategies and all, but this would be as you progress higher up the chain, and also it'll involve the advisory arm of the auditing firm. Again, this is from a Malaysian setting, I won't pretend to know how it goes in other countries.

At the end of the day, we're all just another Ari Gold trying to make money, the true celebrity is the client.

Enjoy the weekend!