I'm still in college, but through my interactions with folks at both American banks (Citi, MS, etc.) and European banks (Barclays, DB, etc.) at networking events and trading floor visits I've noticed a bit of a trend. It seems as though the European banks have looser, more relaxed atmospheres than do their American counterparts. I'm interested in S&T, so this is really where my observations are coming from. But, can anyone speak to these general views/is there some truth to it? I'm curious more than anything else.
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Doubt that's true. Only thing you might notice as a consistent difference is that at the non-BB Europeans (BNP, Soc) you might hear native languages being spoken more often
Never work for a french bank unless you HAVE to.
I've been told this numerous times
Can't really comment on this but there are noticeable differences in French banks v/s US or UK banks. One specific French bank has (or at least it did few years ago) lot's of American guys on the sales desks with French doing more of the trading and structuring related roles. I didn't notice much but there could easily be differences in these two groups. May be someone will elaborate on this?
Also worth noticing is, your usual top US bank in NY will be a bit more 'work hard, play hard' compared to their offices in London. My source is someone who worked in both locations for the same bank.
Even among American banks I found some differences. Guys I met from JP seemed a lot more relaxed, approachable and you could just tell they are incredibly good at what they do. GS I felt they are way too reserved with almost need to know basis even in networking events; obviously smart guys as well. Both these firms and even Citi I found this positive vibe of achievement where underdogs have been given a chance. MS I found them posh and more on the glamour side, even the way their traders dress in London (or may be it's just a few specific desks). I'd love to sit with someone from GS, JP or Citi and go through a company and ask them a thousand questions but MS I would not be too sure unless I met them first. I really liked some of the research and strategy guys I met from MS but I still feel the way having met a few more people from other areas.
Don't only think in terms of US bank or UK bank because really your boss could be German or Indian or someone else with a completely different mind-set driven by mandate, management requirements, market conditions and so on. If your bank wants you to do EU markets but also expects you to cover a bit of US towards the end of your working day in London, things can change so much - i.e. after a while you just want to go home and rest without thinking much about going out for networking etc.
There are a couple different factors that act as inputs into the culture formula (this is coming from a London perspective)
-American vs European bank: as a whole yes, the European banks are more relaxed culture wise, its just a reflection of the british culture as a whole -International vs British: in general, the more British the desk or floor, the more laid back and fratty it is. International desks are a bit more on the quiet side in general -Complexity of product: obvious one, the more complex will generally be less rowdy
European vs American Banks Culture (Originally Posted: 06/18/2010)
Hi all,
Does anybody have any views on how the culture differs between European (e.g. RBS, Barckays, UBS, Credit Suisse) and American banks? In IBD.
I have heard that European Banks are a bit more relaxed, more oriented on personnel development and growing talent inside; however, they say European institutions are more bureaucratic. Any views?
not necessarily. and i think a lot depends on the personalities and practices of the mds in an office
Culture differences between American and European banks? (Originally Posted: 02/10/2015)
Just curious for those of you lucky to have experienced working at both - is there any difference?
At the French Banks (except maybe BNP in certain groups that are all American) you will never get above a certain level unless you are French and/or speak French/act French really fluently. You will feel bad every time when French employees get their paid 6 weeks off a year and you get your 2 weeks.
Deutsche is pretty much American because it is so international. Commerzbank is still very German. VERY.
Rabobank is pretty Dutch/European but lots of Americans/Internationals and the British banks are not too different from American banks.
Hope this helps.
Men at European banks have longer hair.
European vs. American (Originally Posted: 07/13/2007)
Would you rather work for an American firm or European firm in their American (or abroad office)? From what I know, European banks have better vaca's (5 as opposed to 3) and the people have less of an attitude. What do you think?
Better exit options, better comp (at least at senior levels). The lifestyle is worse though. I wouldn't worry to much about vacaction. You won't be able to take 5 weeks as a first year in IBD.....
In any case I don´t believe that there is a difference. On paper it is 5 weeks for all firms.
.
I worked for an American Bank btw. IBD, I have no clue.
No Bermudans?
I;d go with a big name bank if I had a choice. in the US that's mostly domestic names. So I wouldnt go to one of the french banks for instance over a US bank....though there are opps over there and the french traders can be extremely aggressive.
for working on a European desk is more possibility of travel, no? french traders are aggressive? arent they all
the french banks are just insane in some products though.
Ive heard good things about the French in rates products..
they are out of their minds with some of the prices they make.
Jimbo,
Have you been on the other end of one of my trades or do u want me to have a word for you?
as a client i'd like to face the french banks, the prices they show in the brokers aren't as outlandish. they do like to pull the minimum size move when they get hit or lifted. i know people who will specifically not face the french banks for this reason.
Well you gotta make money however you can....
I've never heard of anyone not facing us but for what I do we're one of the top names so that's not a huge surprise; as for clients there's a reason most of our (I think most French bank's) profits comes from prop...
are you on the rate side?
well when you see a bid in the brokers, you hit it, and the counterparty is only there in 1/10th of the market size, that leaves a bad taste in your mouth.
but I frequently say I'll only do the offer/bid for xxx amount - can't u do the same? and ur brokers should know the names that piss u off and warn u at least...
of course, they know the names...but there's market size, then there's minimum and you have to be there in the minimum... and when he's not, people get angry.
can you guys weigh in BNP paribas?
American vs European Bosses (Originally Posted: 04/22/2010)
I recently met with my group's MDs and they are both European.
From our conversations, they seem much more laid back and down to earth than some of the other American MD's I've spoken to, which led me to my question:
Have you noticed any difference when working under an American IB MD vs. a European one? Any pet peeves or expectations that tend to differ?
European bankers typically place more value on work-life balance and social equality (relatively speaking) than their american counterparts. this shouldn't be surprising given europe's more "socialized" stance towards public policy.
rather ironic that a continent once ruled by powerful monarchies is now less elitist and has more social equality than a country that was founded to escape that form of elitism and on the principles of social equality.
Because a society that is equal is one that is equitable, right?
Its a general theme, that European banks are a bit more relaxed, but honestly these stereotypes arent that usefull cuz it all depends on the MD you are workign under.
[Deleted! No longer relevant.]
this thread is such bullsh*t, Europe is a continent and not a country. Categorising all Europeans in one basket is quite simply stupid:
Italian / Spanish / Greeks are completely different from English are completely different from German/Scandinavians/Dutch are completely different from French are completely different from Russians/Lithuanians/Poles
Thread = FAIL
This.
How could you compare a work environment culture of Italy to let's say that of Germany?
It's ludicrous.
Corporate America vs Corporate Europe? (Originally Posted: 05/26/2014)
Hey WSO,
After some serious grinding last semester I have been fortunate to have good internship possibilities (ATK & a BB IB internship). As such, assuming I keep knocking my grades out of the park and network hard, I have a solid chance at making it into a top consultancy firm/big bank. I am European however, and wonder how working at MBB/Investment Banking differs from Europe to NA. It seems that every ambitious person in NA works >90 hours a week, but in Europe I believe work culture is much less focussed on hours and more on quality. Can any insiders confirm/disprove this? I understand I won't work 9-5 and that is not my goal or desire, but I am still curious as to any differences.
I work at a BB in one of their European offices, and I frequently touch base with the NY office. As far as I can tell, and based on what my friends tell me, it isn't actual location that matters as much as it is the nationality of the company itself and the industry. We work roughly the same hours as the people in NYC, as does the HK office (this is a US-based company). Similarly in consulting, the guys working for MBB's here put in the same hours as in NYC. Thus, I don't think you will find that much of a difference in term's of workload or work/life balance.
MBB-wise, in Europe you are quite likely to be averaging somewhere between 60-70 hours a week (where the DACH region is on the higher end of the scale), which is a bit lower than in US from what I know. However I dont think that you would see many people really putting in regularly 90 hours weeks, not even in US. It is probably more like 80ish and thats already quite tough.
Well, French? Not really :) But I agree with Germany, though it does not get any higher than 70 (assuming you are not staffed on some crazy DD). But truth to be told, I am also currently grinding out well over 70 a week and I am from otherwise quite hours-friendly culture, so it really depends on the project.
Different countries in Europe have different working patterns, even in the same firm.
For example, McKinsey London was widely considered to be a 'good lifestyle' office, with people doing about 75 hours a week and weekend work being rare.
McKinsey's German offices had a reputation for working crazy hours (and were the target of many jokes for this). I worked once with a German project manager who worked every day from 0500 to after midnight- she viewed this as normal. Oddly the South Korean offices had a reputation for working even more- and the German consultants I knew would make jokes about them...
I wrote a bit more about my working pattern at McKinsey London here: http://www.theconsultingcoach.com/articles/how-much-will-i-work-as-a-ma… (apologies for the plug!)
That's not odd at all. Korea and Japan are widely known for having long work hours hours. At any firm, consulting or otherwise, it's a pretty good bet that Seoul and Tokyo offices will be in the top 5 in terms of hours pulled.
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