Accepted FT IB Offer at BofA ...Am I safe? Opinions?
Just accepted a full-time Investment Banking offer at Bank of America. I assume a lot of ML analysts will have a tough time keeping their jobs, but how safe do you think people in my position will be?
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WSO Employment Rate: for those of you searching for a job, have you received an offer yet?
Yes
55%
No
45%
Total votes: 80
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Depends on group relative to
Depends on group relative to ML group. First years may be relatively insulated.
i think incoming full times
i think incoming full times at BofA are pretty safe. If you're in a group like HC or RE you'll trump the ML people. If you're in another group then who knows. But, I think the BofA people will be taken care of over the ML people....
pretty safe. Funny how
pretty safe. Funny how things change.
Friends of mine had ML and BoA offers respectively last year. the BoA guy was actually jealous of the ML offer. Funny.
Have any incoming 1st years
Have any incoming 1st years from ML or BoA spoken to recruiters today? What have they been saying?
No word; it's been difficult
No word; it's been difficult to get a hold of HR but that is understandable as they are probably working on the FT first. I have friends working at MER right now and its been nothing but panic and depression.
Panic and depression? Which
Panic and depression? Which office and group? That's not the sense I get from a friend in NY; in fact, it seems like most banking employees are optimistic about this merger and that it was probably one of the best things that could have happened to MER. At least compared to LEH, MER employees are still holding onto a job. And unlike the JPM and Bear deal, BofA doesn't have much of a presence in banking and there appears to be less overlap... also, if you had to choose between laying off a BofA or MER banker, I'd be leaning more towards BofA. That's purely me speculation, what are other people's thoughts?
Greg Fleming will be in
Greg Fleming will be in charge of banking... you can bet he'll have the Merrill MDs' backs... and they'll have the backs of their VPs, associates, and analysts...
...although don't be surprised to see Fleming cater to several of the superstar BofA MDs (assuming there are some... don't know too much about the bank, but it's definitely not known for its heavy hitters...)
BofA will be integrated into
BofA will be integrated into MLs IB. Not the other way around. Greg Fleming and Thomas Montag will run the show as far as banking goes. There will be cuts at both banks, needless to say.
^agreed. to the OP, just
^agreed. to the OP, just because BOA bought ML, doesnt mean that BOA will keep their bankers and let go of ML's. Merril's people are far better (in most areas) and common sense says that BOA will keep the better ones and let the inferior go.