BB&T comes to recruit at my school in October. I was wondering if anyone knows about their IBD. I've only seen a few things on here about people that have worked there or have known someone that works there that has said it's a pretty laid back place. I was hoping to find out some useful information that some members of the overall industry might know that I could use to impress the interviewer.
IBD is in their capital markets division and apparently some students who interviewed last year that requested that division were denied but offered other positions for other departments.
Any help would be greatly appreciated, whether posted on here or you can PM me. Thanks.
/bump
No one knows anything? Is BB&T not considered a major player?
hell no
boutique, do you know anything about their bonuses, salaries, exit ops, etc? I can't find it anywhere on "The Google"
They are a permanent co-manager.
Car, do you know about signing bonuses?
Nope. I would say it's probably safe to assume that it's ~$10K, though. It would be awfully hard to attract competitive candidates with a lower signing bonus than the rest of the Street (which is ~$10K).
nothing wrong with BB&T OP, if you can get it, go for it
Affirmative, do you know anything about BB&Ts culture or anything that may help in the interview?
I worked in the Reston office for a year. The culture is pretty different from Richmond. Bankers are a bit more laid back, offices are much nicer, and deal flow is strong. Reston office focuses on ADG only, so its more M&A focused than Richmond where primary/secondary offerings are much more common. In terms of pay, during the good times (a la 2005-2007), Reston junior bankers made BB salaries. However, 2008 and 2009 were pretty bad and we all took major hits on bonuses. Do you know what office you're interviewing for?
I do not. I know students that had interviewed on campus last year that received offers went to Winston-Salem for training. I heard after training, they may send you to another office.
^^LOL...that's what I thought too..but its surprising how well off the senior bankers there are. Yea, they don't roll up to the Hamptons every weekend but this sort of lifestyle investment banking still lets em make a mil or two a year, live close to DC (from a family stand-point, its great!), gives them time to make tons of connections (especially in DC) and most importantly, have their own gigs (I am referring to at least a couple of the senior guys who run their own micro-PE shops)
...not something people in their early to mid 20s can relate to but it is an option....and it aint bad.
Very unlikely MD's at BB&T is making $1-2 million a year based out of Reston or Richmond or Winston-Salem, or wherever else you guys are talking about.
Compensation is based on competition. And the guys taking positions at BB&T in Winston-Salem, are not contenders for banking positions in NY/Boston/SF etc... at GS, MS, JPM, Citi, Jeffries, Petsky Pruiner... you get the picture.
I'm trying to be honest here, not a dick. Its the minor leagues, and comparing BB&T in a barely satellite city to the major players just isn't based on any realistic understanding of comparability.
MD compensation is based on the ratio of annual deal volume ($) to number of MDs working at the firm. MDs at boutiques can often make 7 figures.
When you have a group of 15 bankers (incl. 4 MDs) cranking out 12-15 deals a year, its possible my friend, very much possible. Also, just as an FYI, M&A fees in mid-market and lower mid-market are rarely ever 1% of total consideration like you normally see in BB. The last deal I worked on while in Reston, we charged 5%. Hope you get the picture.
Analysts at small banks and big banks do similar tasks. The difference is the size of the deal you work on. Calling BB&T the minor leagues is an incorrect comparison. Would you rather work for a smaller banking doing FO work or work for GS doing ops? Which job do you think will offer transferable skills? If you network and crush it at BB&T you can easily go to other banks, PE, etc.
Finally someone gets the point. I'm not arguing that BB&T is the best bank out there, cause it aint. Not even in mid-market.. by a long shot. But what I will say is that out of the 2 analysts and 3 associates that recently left, one analyst went to Booth, the other to BB, and the three associates are at Wharton, Tuck and BB (me). So take it for what its worth.
I agree.
I have an interview coming up with the Reston office. All the above is very helpful. Thank you guys.
BB&T Capital Market (Originally Posted: 09/16/2011)
Can anyone shed some light one BB&T and how they are doing this year in terms of deal flow, culture, pay, exit opps?
thanks much.
Which office? Their Boston office is staffing up and seems to be on a roll this year. I know the Richmond healthcare guys are doing well also.
richmond
If you're a southerner interested in staying in the South, BB&T really isn't a bad place to start your career. Their Richmond office does just fine and you'll make more than enough to live like a king.
thanks CB.
Do you see any BBT kids go to MM PE or VC outside the South? Not really looking to stay in the south long-term but in this economic climate I'm willing to sacrifice a couple years in Richmond.
I haven't. However, I can't comment on whether that is for lack of trying or for lack of desire. Most folks in the South don't seem to want to leave and as a result you won't see many BB&T guys up north. That said, the BB&T name is pretty well respected in the middle market, so you ought to get looks if you were interested in MM PE elsewhere. VC is really a different beast altogether...
BB&T IB - Exit opps? (Originally Posted: 10/23/2006)
Any thoughts on BB&T Capital Markets/Windsor Group IB? Sign, salary, bonus, etc? Exit opps? Thanks.
I'm wondering the same thing. Seems like a good MM bank in the DC area. thoughts?
Figured I'd bump this thread rather than start a new one.
Any thoughts on this bank? I have an upcoming interview with them but the only info I have is from Vault.
I just went through the recruiting process in the Fall. Seems like a good group of people. Pay is comparable to BB, with signing bonus higher than most. The analysts do general work in industries like Retail, Infrastructure, Industrials, etc. What position are you interviewing for at this time of the year?
Are they the type of bank that would be willing to take interns?
BB&T's Windsor Group is strong in the Government Services sector. They do a pretty large number of deals in that space every year.
Just an FYI for interviews: know how to walkthrough a sell-side advisory example. I had an interview with BB&T earlier this week and after the standard resume walkthrough and why IB, they went straight into a hypothetical sell-side situation. Know what questions to ask when a company is considering being acquired, and then how to setup a pitch book.
Kingkongbundy, yeah they did take an intern last summer, not sure about this one though.
SBE, was your interview in Richmond, VA, and what position was it for?
I had an on-campus interview and it was for a summer associate position.
I received an offer from BB&T. Having heard the offer structure, I would agree that sign-on is higher than usual, but salary is slightly lower than BB. I would also comment that I really liked everyone I met at BB&T and that they seemed to foster a more laid-back, friendly atmosphere than most of the banks I interviewed with. Definitely a great BB alternative, although I would worry about the name recognition outside the south. I'm not sure how well they place into PE in New York/Boston area. That being said, if you are interested in workin IB in the south, BB&T seems like a great option to me, especially now when IB jobs are hard to come by.
The people do seem to be enjoyable and were cool to be around the night before the super day. I also like BB&T's current position in the market. They don't do exotic products and target the high end of the middle market. Because of this, they escaped a lot of the current financial troubles of other banks while continuing to slowly grow their investment banking group.
Can anyone else comment on exit opps after the analyst program?
I actually interned there, so I can provide a lot of detail. They generally take around 2 summer analysts and 2 summer associates for the intern program. They lay a lot of experience on you, and it really helps for FT interviews when you get out. Salary slightly below street, signing above, but not too sure about annual bonus.
As far as placement, top 15 business schools, lower MM PE, corporate finance, the usual. Their FIG group does a lot of BDC work, so they have a lot of connections there.
Great people, laid back culture, quality of life is much better than what you see in NYC. Hope that helps.
BB&T IB - What are potential exit opps? (Originally Posted: 07/19/2010)
Was wondering what people could tell me about BB&T IB besides the obvious? I know it's middle market, but what are potential exit opportunities after an analyst stint? There isn't much to go by here on the forums and as an incoming analyst heading to training in a couple of weeks I was just looking for more information. Thanks.
Did you recently graduate college? Reason I ask is most of the analyst positions are for experienced professionals. There was a risk analyst position open for college/grad students (mainly grad) but it was just an internship.
Also, I know BB&T recruits at colleges (mine including) for the management training program. I haven't heard of a push for analyst recruiting (although I'd be very much interested).
Graduated last year. Have been working for about 7 months prior to lateraling into this new analyst role in a couple of weeks.
Do you mind commenting on your comp? (signing bonus and base) I'm compiling a list for my school about banks that recruit in the south and BB&T is one of the few I'm missing. Also, is it true that their interview process is different from other banks in that there are less technical questions and more situational type questions like "walk me through a sell side advisory?"
Do you know where you will be heading? Richmond or DC (ADG Group)? Can't say much about the Richmond group but the DC group analysts did pretty decent for themselves. The incoming class of 2008 was 4 analysts. One of em got accepted to Top 5 b-school, one went the corporate finance route, the third moved to bulge recently, and the fourth will be promoted to an associate at the end of the year. What's even better is that the DC group generally likes to retain its analysts rather than lose them to b-school/bulge etc. A couple of analysts that got promoted to associates just left for b-schools (one Top 5, the other Top 15 but full-ride). The group overall is amazing in terms of culture n hours, Hope that helps...
As far as recruiting goes, I interviewed the last round of analyst hires for the DC group and this time around, we had a super-friday sort of deal. Candidates went through 5-6 interviews, each focused on a separate area (quant/fit/brainteasers/process etc.). Most interviews were 2 on 1 although there was an occasional 1 on 1. For technical, it was pretty much the vault guide stuff.
Bump for my previous queston.
Sammyg10 - Thats very interesting. I knew several people who interviewed there a few years back who said that it was mainly fit and the typical tech questions. They got the feeling it was very fit oriented because like you said, the group culture is really great. Did they change it up more recently because of the more competitive environment? I don't know why they'd ask prospective analysts quant questions and brainteasers - I never got anything close to that at BB's haha. Sounds like a trading interview.
I hear ya my man. But to be honest though, when it came down to it, we placed a lot more emphasis on fit than technicals. And the argument there was that, if a guy could stumble his way through a few basic finance/brainteaser questions, he had the aptitude to pick up the rest on the job. As for the comp, in the good ol' days, a la 2007, 1st year analysts pulled in ~$50k base and ~$100k bonus. Things have obviously settled down since then. The last class was more close to $60k base and $40k bonus. Keep in mind, in 2007, the group closed over 25 transactions whereas in 2009, we had about 8 closed deals. Hope that helps.
BB&T - check out their transaction list (Originally Posted: 09/13/2006)
Hello! I was wondering if you knew anything about this mid-market company. They seem to complete a decent number of M&A, especially in Gov and Defense sectors. HAve you heard of them?
http://www.bbt.com/bbt/business/products/cmofferings/mergers.html
Yes, we have heard of them. Next!
General Info on BB&T (Originally Posted: 10/03/2013)
I am looking for any information on BB&T. I have searched the forums but not much recently, curious to see how things have changed. Any info on what groups are in what offices specifically Richmond, NY, and Boston. Curious what the culture is company wide and specifically in the Northeast offices, of course any info on pay, exit ops etc would be appreciated.
However mostly looking for info on groups, analyst size class, interviews, general info on recruiting.
I appreciate any info and have SBs to reward.
Richmond is consumer retail, industrials, and I think manufacturing, the DC area office is aerospace and defense. A lot of analysts stay on or move to MM PE. Analyst class is small 2-3 people. In general, culture is okay. People don't seem very smart though.
thanks for the info, is the analyst class 2-3 per office or does it vary and more are in the Richmond office?
Good presence in DC office w/A&D focus. Culture is more Southern-like. Think of it like Sun Trust. Sure, they are trying to maintain a presence in the Northeast, but overall it has that Southeast feel.
Not sure on interviews or class size, but I believe they do recruit during the traditional period. Have seen a few off-cycle positions posted, mostly for associates/VPs.
Deal volume hasn't been great the past few years (given headcount) and deal size has really tanked. They've done some sub-$50mm in transaction value.
appreciate the input
Yep. Good news is, they have a mezz fund (BB&T Capital Partners) and closely associated PE shops. MM PE definitely doable.
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