LA banking

Has anyone here considered it? I ask because a friend of mine was looking at real estate out in Cali, and its incredible what the difference in the cost of living between NYC and LA. For example, a $2M place in Manhattan will still be less than 2,000 sq. feet, and the same can get you a house with a white water ocean view if you go an hour outside of LA with the right realtor.

I love NYC, but after the looks of some of the places he was showing me, I gotta admit I was tempted. I find it hard to believe that no one has noticed this, so what is wrong with LA banking that removes all other places from conversation on these forums aside of NYC?

 

Los Angeles is a beautiful place to live and you can find some very very nice homes in the $1,000,000 - $2,500,000 range if you know where to look.

Also, I should note most LA banks/buy side groups are either located on Avenue of the Stars, which is conveniently located near Beverly Hills, Bel Air and Westwood or in/near Santa Monica. I know for a fact Morgan Stanley's office is located on 3rd Street Promenade (very nice outdoor mall) and Blackstone is located on Ocean Avenue, which over looks the beach.

After a long day at work in the Blackstone NYC office you can take a stroll through the park, but after a long day at work in the Blackstone LA office you can walk on the beach.

If you have any questions about LA or LA banking (albeit I am still in college but know a decent amount about most of the buy side/sell side shops located in LA) feel free to msg me.

Robert Clayton Dean: What is happening? Brill: I blew up the building. Robert Clayton Dean: Why? Brill: Because you made a phone call.
 
goodL1fe:
Los Angeles is a beautiful place to live and you can find some very very nice homes in the $1,000,000 - $2,500,000 range if you know where to look.

Also, I should note most LA banks/buy side groups are either located on Avenue of the Stars, which is conveniently located near Beverly Hills, Bel Air and Westwood or in/near Santa Monica. I know for a fact Morgan Stanley's office is located on 3rd Street Promenade (very nice outdoor mall) and Blackstone is located on Ocean Avenue, which over looks the beach.

After a long day at work in the Blackstone NYC office you can take a stroll through the park, but after a long day at work in the Blackstone LA office you can walk on the beach.

If you have any questions about LA or LA banking (albeit I am still in college but know a decent amount about most of the buy side/sell side shops located in LA) feel free to msg me.

I don't mean to be a douche but if you're not familiar with LA geography and office locations, dont mislead the op.

Avenue of the stars IS NOT in Santa Monica -its nowhere near the Santa Monica by the ocean you may be alluding to. Avenue of the Stars (century city) borders Westwood from the South and is a dull half mile road with several high rises that are home to MS / GS / NWQ / Various other firms.

The Morgan Stanley office in Santa Monica (3rd Street by the ocean) is a retail wealth management branch. No IB. MS IB is strictly out of Century City.

 
LAWM:
goodL1fe:
Los Angeles is a beautiful place to live and you can find some very very nice homes in the $1,000,000 - $2,500,000 range if you know where to look.

Also, I should note most LA banks/buy side groups are either located on Avenue of the Stars, which is conveniently located near Beverly Hills, Bel Air and Westwood or in/near Santa Monica. I know for a fact Morgan Stanley's office is located on 3rd Street Promenade (very nice outdoor mall) and Blackstone is located on Ocean Avenue, which over looks the beach.

After a long day at work in the Blackstone NYC office you can take a stroll through the park, but after a long day at work in the Blackstone LA office you can walk on the beach.

If you have any questions about LA or LA banking (albeit I am still in college but know a decent amount about most of the buy side/sell side shops located in LA) feel free to msg me.

I don't mean to be a douche but if you're not familiar with LA geography and office locations, dont mislead the op.

Avenue of the stars IS NOT in Santa Monica -its nowhere near the Santa Monica by the ocean you may be alluding to. Avenue of the Stars (century city) borders Westwood from the South and is a dull half mile road with several high rises that are home to MS / GS / NWQ / Various other firms.

The Morgan Stanley office in Santa Monica (3rd Street by the ocean) is a retail wealth management branch. No IB. MS IB is strictly out of Century City.

I don't mean to be a douche, but if you are unfamiliar with the English language, don't call me out.

My original quote:

Also, I should note most LA banks/buy side groups are either located on Avenue of the Stars, which is conveniently located near Beverly Hills, Bel Air and Westwood OR in/near Santa Monica.

If you remove the appositive (information explaining the area of Avenue of the Stars) the sentence reads:

Also, I should note most LA banks/buy side groups are either located on Avenue of the Stars OR in/near Santa Monica.

Robert Clayton Dean: What is happening? Brill: I blew up the building. Robert Clayton Dean: Why? Brill: Because you made a phone call.
 

LAWM is right...very few IB's are located in Santa Monica. For the most part, BB IBD are in Century City. There are boutiques, however, located from Santa Monica all the way to downtown. A few buyside firms are in the South Bay (Manhattan Beach, Hermosa, Redondo), but the largest are located around the BB banks. That is, west of the 405 and north of the 10.

 

LA is where its at. Forget a walk in a park, with a fat salary in LA you will definitely be happy as an ibanker. Buy a nice crib or apartment in the West LA or Hollywood areas and you probably won't want to move back to the east coast.

 

MS IB is in century city lots of MM IBs in santa monica (me too!) most finance activity (BB IB, PE) is in or around century city/beverly hills

and why would you buy "a house with a white water ocean view if you go an hour outside of LA" ? traffic is bad enough in the city, let alone taking another hour just to get to it and $2m doesnt get you much in terms of house in areas like beverly hills, brentwood, bel air. maybe 2-3k sqft in a nice location

 

If you work in Century City, no way you are going to buy in Orange County / Ventura / Malibu

That aint happening. On some days, it could take you an hour - hour and a half to get from your office in Century City to the 405 Freeway down Santa Monica Blvd. Then you have to sit in an hour traffic to get home to your $2MM pad in Malibu.

I wouldn't really look outside of Santa Monica / Palisades / Marina Del Rey / Playa Del Rey / Encino / Brentwood if I were working in Century City or Westwood.

My ideal place is Palisades, but even that is a huge headache to get to with traffic. And you are not dropping 'only' $2MM for an ocean view in the Palisades.. try closer to $5MM - $10MM for the ocean view.

 
Nobama88:
If you work in Century City, no way you are going to buy in Orange County / Ventura / Malibu

That shit aint happening. On some days, it could take you an hour - hour and a half to get from your office in Century City to the 405 Freeway down Santa Monica Blvd. Then you have to sit in an hour traffic to get home to your $2MM pad in Malibu.

I wouldn't really look outside of Santa Monica / Palisades / Marina Del Rey / Playa Del Rey / Encino / Brentwood if I were working in Century City or Westwood.

My ideal place is Palisades, but even that is a huge headache to get to with traffic. And you are not dropping 'only' $2MM for an ocean view in the Palisades.. try closer to $5MM - $10MM for the ocean view.

Also, who the hell wants to drop $2MM and live in fucking Hollywood? Come on...

As far as LA traffic is concerned, Palisades to Century City is light. Assuming no traffic, that's a 30 minute drive. Even then, you don't even have to jump on the freeway; you can take Wilshire Blvd from Santa Monica all the way through to Century City. Its perhaps an hour in traffic, an hour twenty at the worst possible time (9:00 AM or 6:00 PM). As bad as that sounds, its still nothing compared to a Palisades to Downtown commute, which could clock in 2 hours easy.

 
SlikRick:
As far as LA traffic is concerned, Palisades to Century City is light. Assuming no traffic, that's a 30 minute drive. Even then, you don't even have to jump on the freeway; you can take Wilshire Blvd from Santa Monica all the way through to Century City. Its perhaps an hour in traffic, an hour twenty at the worst possible time (9:00 AM or 6:00 PM). As bad as that sounds, its still nothing compared to a Palisades to Downtown commute, which could clock in 2 hours easy.

Ya, good point. Speaking of not having to jump on the freeway as Noobama88 mentioned Encino is nice place to live (more bang for your buck in terms of real estate) and you can take Sepulveda Blvd down to Wilshire Blvd.

Robert Clayton Dean: What is happening? Brill: I blew up the building. Robert Clayton Dean: Why? Brill: Because you made a phone call.
 

I've always wondered what that MS Office on 3rd Street was, glad that has been cleared up. As stated previously, the majority of LA Banking is on Ave of the Stars. However, that area of LA is beautiful and within 5 miles of LA's most coveted suburbs. Plus, every bank, from BB to MM to Elite Boutiques are located there, and within walking distance of one another. Santa Monica has a strong set of boutique banks (Eastdil, Montgomery, Cappello, Guggenheim, etc), as well as a few buyside shops and HF's.

 

I might be wrong, but I don't think banks/funds pay anywhere near street in Orange County.

It seems that a 1st year analyst in IBD makes more than an associate with 6+ years of experience at PIMCO. This is assuming that the info on glassdoor is accurate.

Please feel free to correct me if that is not true

 

Currently a student at a Big 10 school (non-target). Wanted to go to USC but it was way to expensive and I couldn't stomach that much debt, but I would love to do IB on the West Coast. But hell its going to be hard enough to break into IB in NY or Chicago, where my school has a decent alumni presence, it would probably be even tougher out West.

 
SmokeyG:
Has anyone here considered it? I ask because a friend of mine was looking at real estate out in Cali, and its incredible what the difference in the cost of living between NYC and LA. For example, a $2M place in Manhattan will still be less than 2,000 sq. feet, and the same can get you a house with a white water ocean view if you go an hour outside of LA with the right realtor.
1 hour outside of LA is pretty vague btw. LA is so big that if you live 1 hour away from your first gig in LA, its very possible your next job will be 3-4 hours away commuting.
 

You shouldn't be allowed to put LA and NY in the same sentence together. NYC is far more diverse and cosmopolitan than LA. I don't want to make this into a shit show, and have people's feelings get hurt but I don't think LA has anything NY doesn't besides Hollywood.

Also you can't beat NYC for finance, that's a fact. It's #1 in the world for finance, with Hong Kong coming way after it. Then cities like LA/Chicago/London are closer in status. Again, I don't want to sound like a douche, but everytime I went to LA I hated the people.

 
AQM:
You shouldn't be allowed to put LA and NY in the same sentence together. NYC is far more diverse and cosmopolitan than LA. I don't want to make this into a shit show, and have people's feelings get hurt but I don't think LA has anything NY doesn't besides Hollywood.

Also you can't beat NYC for finance, that's a fact. It's #1 in the world for finance, with Hong Kong coming way after it. Then cities like LA/Chicago/London are closer in status. Again, I don't want to sound like a douche, but everytime I went to LA I hated the people.

I'm not going to argue that LA is a better city than NYC for Finance. However, LA is a solid city to work sell-side or buy-side. IMO, the people I've met from NYC are anything but friendly. But that's been my experience, similar to your experience of LA. Besides, LA has beaches, weather, culture, sub-cities, awesome Real Estate, etc. Of course, you have more exit opps coming from NYC than LA, but if your goal is to live in LA long term, who cares? To each his own.

 
AQM:
You shouldn't be allowed to put LA and NY in the same sentence together. NYC is far more diverse and cosmopolitan than LA. I don't want to make this into a shit show, and have people's feelings get hurt but I don't think LA has anything NY doesn't besides Hollywood.

Also you can't beat NYC for finance, that's a fact. It's #1 in the world for finance, with Hong Kong coming way after it. Then cities like LA/Chicago/London are closer in status. Again, I don't want to sound like a douche, but everytime I went to LA I hated the people.

LA has beaches, mountains for snowboarding, really good ethnic cuisine (Mexican food and Korean food are my two favorite cuisines, they're both shitty/overpriced in NY), and beautiful scenery, and most importantly near perfect weather. Big difference between driving down Sunset Blvd to work versus taking a subway. So there are some things that LA has that NY doesn't. Obviously, New York has things that LA doesn't too.

 
randomwench:
AQM:
You shouldn't be allowed to put LA and NY in the same sentence together. NYC is far more diverse and cosmopolitan than LA. I don't want to make this into a shit show, and have people's feelings get hurt but I don't think LA has anything NY doesn't besides Hollywood.

Also you can't beat NYC for finance, that's a fact. It's #1 in the world for finance, with Hong Kong coming way after it. Then cities like LA/Chicago/London are closer in status. Again, I don't want to sound like a douche, but everytime I went to LA I hated the people.

LA has beaches, mountains for snowboarding, really good ethnic cuisine (Mexican food and Korean food are my two favorite cuisines, they're both shitty/overpriced in NY), and beautiful scenery, and most importantly near perfect weather. Big difference between driving down Sunset Blvd to work versus taking a subway. So there are some things that LA has that NY doesn't. Obviously, New York has things that LA doesn't too.

Yeah true, to each their own. I was born and bred a New Yorker so I guess it would be different if I was born in LA.

 
randomwench:
AQM:
You shouldn't be allowed to put LA and NY in the same sentence together. NYC is far more diverse and cosmopolitan than LA. I don't want to make this into a shit show, and have people's feelings get hurt but I don't think LA has anything NY doesn't besides Hollywood.

Also you can't beat NYC for finance, that's a fact. It's #1 in the world for finance, with Hong Kong coming way after it. Then cities like LA/Chicago/London are closer in status. Again, I don't want to sound like a douche, but everytime I went to LA I hated the people.

LA has beaches, mountains for snowboarding, really good ethnic cuisine (Mexican food and Korean food are my two favorite cuisines, they're both shitty/overpriced in NY), and beautiful scenery, and most importantly near perfect weather. Big difference between driving down Sunset Blvd to work versus taking a subway. So there are some things that LA has that NY doesn't. Obviously, New York has things that LA doesn't too.

Exactly. I'll take the beach, weather, and beautiful women any day. Being a part of "the finance center of the universe" isn't enough for me to write off all the advantages that LA has. I don't need to be a part of the center to be happy; my ego doesn't require it.

But I do love being in the city of cities, the heart of the United States, and enjoying some of the career opportunities NYC has to offer. That's why its a tough decision. I guess there's always retirement.

 
DoYouLikePhilCollins:
low_key:
the only thing worthy to be called a buyside in LA is PIMCO

and it's not even in LA

low_key, you are retarded. Ever heard of Platnium Equity (Beverly Hills), Oaktree (Downtown), or Colony Capital (Santa Monica)? All reputable buyside shops.

Don't forget Ares too. They're rock solid.

 
low_key:
the only thing worthy to be called a buyside in LA is PIMCO

and it's not even in LA

Apollo Canyon Capital Leonard Green Oaktree TCW/Crescent Mezzanine Tennenbaum Ares Beachpoint Carlyle Strategic Partners Carlyle Mezzanine Newstone Platinum Gores Aurora Cerberus California Caltius Post Advisory Ivory Levine Leichtman Freeman Spogli THL Credit Saybrook Barclays Capital Distressed Black Canyon Ice Canyon Brentwood Associates
Kanye Anderson RLH Equity Partners (Riordan, Lewis & Haden) Lovell Minnick Partners Colony Capital Saban Capital Sun Capital

 
Michael Scarn:
Anyone have any advice on how to break into BBs/MMs/solid boutiques in LA from a school with a Midwestern/NYC presence? I'm currently a junior at an internship at an MM without an LA office and would love to go out West for FT, but unfortunately our school has 5-10 alumni out there and all are at tiny boutiques.
network .
 

I work in a BB in century city. Beautiful area, lots of hot girls, 1 minute from rodeo drive (you can have lunch there).

Some analysts live in Santa Monica, it's a commute but not too bad...(analysts hours avoid traffic). Some senior people live in the South Bay (manhattan/hermosa beach - amazing places...a hell of a commute tho). Most live in beverly hills / bel air area.

Most analysts live around the office or hollywood area and go out in hollywood a lot.

NY is great, loved my training there. LA has the nature and weather to live a very active lifestyie outdoors which is what I love. In my free weekends...I snowboard in winter, mountain bike, hike up mountains with ocean views, jog along the beach, surf, play pick-up soccer, eat/drink on the patios of restaurants/bars with views of the ocean/canyons, kayak in the ocean etc...and take weekend trips to vegas! I can't give up this lifestyle....I work at a BB bank and get to enjoy these activities (rarely - but when I get to the buyside, more so). In NY, all we did was eat at restaurants, talk about what we ate / will eat, and see some shows / shop a little. Everything had great quality but was overpriced even for its quality (food/events/clothes). I feel like I would become very pale and fat in NY.

Lots of great buyside opportunity in LA and it's close knit over here so if you are not a fuck up and interview well, you are in a good spot.

NY is definitely the best place for many people.To each his own. Wherever your best network is, is usually a deciding factor.

PS. If you are ever in LA and see LA hipsters / wanna be hipsters...don't judge LA off those people....those people are the jokes of LA, just brush them off and make fun of them like the rest of us do....they will act immune to your laughter though when in hipster groups...some sort of synergetic power source they get when together....still losers.

 

Definitely to each his own. I would say while we can endlessly debate over the various differences between LA and NYC regarding climate, women, opportunities, lifestyle, culture etc, there is one clear difference which I think is worth noting: it's not primarily finance city. It's overwhelmingly dominated by people in the entertainment industry. Just as it seems everyone you meet in NYC is in the financial services/banking industry, everyone in LA seems to be working in the entertainment industry in some sort of fashion. In my opinion, this presents a lot of interesting things. In general I would say the culture in finance is really is best suited for someone who doesn't want to deal with the pissing contests, HQ politics and grind of New York but would rather fly under the radar, make a good deal of money and live a nice life. It's not that it's less ambitious, but rather more low key at least from what I have experienced.

I also find it absolutely hilarious how some people have been going on and on about "Hollywood." It's funny because I think Entourage has painted a completely false portrayal of "Hollywood" being really glamorous/ostentatious. While they do show those guys in places like Drais, Avalon and Playhouse (which are in Hollywood) most of the nice shit they do is in West Hollywood and Beverly Hills. I would not recommend living in Hollywood unless you like noise, tourist traps, cracked-out vagrants, and people prostituting themselves to somehow break into the entertainment industry. It's really quite depressing and unsanitary. However, it's still a fun place to go out if you enjoy the club scene but nothing more.

PM me for some details about where to live, I can weigh in on any neighborhood/community.

General tips:

If you work in downtown, I wouldn't live west of the 405 or too far south of the 10. The traffic will grind on you. I'd check out West Hollywood, Miracle Mile, Beverlywood or Culver City (specifically Culver Blvd). If you're in Century City you're chillin you can manage a commute from the South Bay or West of the 405.

 

Yeah I'll be brutally honest, the valley is really terrible. The cultural Mecca of the valley is a shitty mall in Reseda. However in all fairness there are some great homes off the mountains in Encino, Calabasas or Tarzana. Everything else is just a massive parking lot full of stucko buildings. I was mostly just trying to make a point that it's totally age inappropriate for analysts.

 

A few BBs, (UBS, Citi, GS) have significantly downsized their LA offices.

With boutiques, there's Moelis (arguably one of the safer places to be right now given the fees they are pulling and their headcount), Houlihan Lokey if you're into restructuring, and Montgomery & Co, which is a media-focused boutique that has done some decent deals in the space(Disney / Club Penguin).

Don't know much about PE in LA. Platinum Equity is there.

 

goalieman, I'm not. Think... HLHZ minus restructuring and toss in some S&T and research, and that's where I'm at. The two are fairly comparable. HLHZ is doing a bit better right now though.

Thanks for the replies guys. Does anyone know what Moelis' LA office is like? Is it a good office? I know I've heard the NYC office is a sweatshop but you definitely get a good experience - is it the same out west? And this is fairly stupid, but does anyone know if Moelis is based out of the LA or NYC office?

 

Knew he worked at UBS LA, didn't know he stuck in LA for Moelis. So I'm going to go ahead and guess that Moelis LA is a pretty good office to work in, huh?

Thanks for the list of shops. I think I actually know one of the guys at Gores Group - I noticed as I was checking over team members. Thanks!

 

I'd say it cannot hurt to apply to both offices. That will show your desire to do the job, regardless of location.

I would guess that there is less competition coming from east coast schools, but you have to take into consideration the kids from Berkeley, UCLA, USC, and Stanford that want to stay out there. I'm sure there is more competition for NYC than LA, but there are also more positions in NYC. It's probably about even.

 

Actually, I think the west coast is harder due to the limited number of positions ( A LOT less than NYC positions) and competition from both west coast and east coast. I have seen several Wharton kids coming to LA/SF for interviews. But that's just my opinion.

 
banker88:
Are there other locations that are perhaps less competitive than NYC and LA? Not that it matters much cause most BB's only let you choose 2 locations.

TX or SF?. SF just has ivy leagues, UCB,and stanford. The north california banks usually dont hire from the south(exceptions do happen), since they have a great bunch of students in ucb and stanford already.

 

Would it be easy to interview for a spot in LA? For example, Moelis' recruiter is located in NYC. Would I do my interviewing in NYC for a spot in LA, or would I eventually have to make it out there?

Supposing I got my MBA over here on the east coast, would it be easy to land a spot on the west coast? I know this is a bit of a difficult question to answer, but do west coast offices solely recruit at Stanford, Haas, Anderson, etc.?

  • Why is this thread in the PE forum? It's far more IB than PE, and it'll get more looks in the banking forum.
 
jimbrowngoU:
Would it be easy to interview for a spot in LA? For example, Moelis' recruiter is located in NYC. Would I do my interviewing in NYC for a spot in LA, or would I eventually have to make it out there?

Supposing I got my MBA over here on the east coast, would it be easy to land a spot on the west coast? I know this is a bit of a difficult question to answer, but do west coast offices solely recruit at Stanford, Haas, Anderson, etc.?

  • Why is this thread in the PE forum? It's far more IB than PE, and it'll get more looks in the banking forum.

The networks at Wharton and Harvard are very strong out on the West Coast. Chicago's and Columbia's networks are also very strong and everyone respects these programs.

However, if you're trying to land a spot in a West Coast office from lets say Kenan-Flagler, Fuqua, or Johnson... you mave have a tough time because Anderson/Haas have better students to pick from locally.

 

At Moelis keep in mind that since the founders are in LA they (analyst/associates) will be working on a significant amount of deals because the founders/deal makers source the deals and usually the deals are given to the office where they were sourced. Since it's a smaller office I'm sure they'll be working at capacity and analyst/associates in the LA will have to put in more hours because of lack of people.

The basis of what I'm saying comes from how UBS LA was in its glory days.

 

Apollo Management is in Century City Canyon Partners in Century City have a PE subsection called BlackCanyon as well.

My roomate works at a post-mba level position at Apollo. Loves it, came from JP Morgan in NYC and says its more relaxed here but still crazy...if that makes sense. He graduated Duke, was 1st in his class.

Hope that helps.

...think someone mentioned Ares, but they are in Century City as well. Office is insane.

 

A lot of BBs have their media practices in LA. Off the top of my head, those include GS, Merrill, Barclays, and I'm sure many others.

It may work to your advantage that you don't want NY; by pure application numbers, the offer percentage rate is higher.


Chase Us, Break In!

The Recruiting Ace: An Inside Look at Banking, Finance, and Management Consulting RESUME AND COVER LETTER RE-WRITES http://chasingconsultantsbreakingbankers.blogspot.com/

 

That's not true, there's less spots in west coast, single digits at the BB's and almost all BB's are platform offers so I don't understand what you mean by higher percentage since you are applying to the overall BB. You may want to look at SF, it's more of a finance hub than LA is for west coast.

 
1styearBanker:
That's not true, there's less spots in west coast, single digits at the BB's and almost all BB's are platform offers so I don't understand what you mean by higher percentage since you are applying to the overall BB. You may want to look at SF, it's more of a finance hub than LA is for west coast.

while your first few points are true, I don't think that most BB's extend platform offers when it comes to their West Coast offices. i know for a fact that several banks recruit separately for their west coast offices, and some delineate between LA and SF as well.

 
1styearBanker:
That's not true, there's less spots in west coast, single digits at the BB's and almost all BB's are platform offers so I don't understand what you mean by higher percentage since you are applying to the overall BB. You may want to look at SF, it's more of a finance hub than LA is for west coast.

Agreed, most banks definitely have a bigger IBD presence in SF, however it might come down to your group preference. If you're interested in tech, you obviously wanna be in the bay area. LA would be better for media, and in some cases, consumer retail.

To answer your original question, UBS, MS, CS, and Deutsche are all BBs with reputable LA offices, and Moelis LA is becoming a powerhouse.

 

Some BB's do group specific like CS, others do not. Also, it's usually a mix of region specific recruiting and then if there are spots over then the East coast kids get to pick it. Usually if there's 9 spots, 5-6 are filled by the best of Stanford/Berkeley/UCLA/USC and if any spots are left then a Wharton or east coast target kid who wants to be on the west takes it.

For BB's, if you get into a TMT group, retail, healthcare, gaming, or sponsors, then there might be an option to accept either a SF or LA offer if you pick it. However, it is very hard and usually harder than NYC since there's so few positions available for the thousands of UC and Stanford kids. Even the shit boutiques in SF/LA have target kids.

 

how would you suggest i boost my chances to get one of those few positions available? first thing that comes to my mind is to network with alumni in la. what books can you recommend to read up specifically for la banking positions? something on the media sector, recent m&a deals and so on? thank you

 

From my experience, networking goes a long way. Many targets in the West Coast aim for one of these few 5 to 10 spots every year and it is very competitive. I believe one of the mods had a great story about how he worked with a lot of Wharton kids at his boutique. My boutique is relatively no-name and we have a Stanford guy and a few other targets. I won't say the rest of the schools to avoid giving away too much but it is a competitive process that requires networking and pedigree, but definitely the former first.

 

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################################################# I am the Man. I Have the Plan. Follow Me to the Promised Land.
 

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Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

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success
From 10 rejections to 1 dream investment banking internship

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