Prestige vs. cultural fit when deciding between BBs

2)

Ha poster above is correct.

Basically what you're saying is "should i choose the bank that will suck to work for or the one that will be fun to work for".

In an internship the #1 goal is to get an offer... so overall its number 2. However.....

If number 2 is say UBS or a struggling platform, you bite the bullet and go to number one.

Before you sign up for an internship, same question at large "Which one will likely give me an offer"

Sounds like you have connex or something at the second one, that makes it even easier to get an offer.

Basically agree with playboy.^^

(2) hands-down.

what if the place i find interesting is a struggling platform lol

If option 2 is a struggling platform then you have to weigh the consequences yourself.

If option 2 you know the VP and MD because you all were in the same frat and were on the same sports team and basically are "bros" then you still go to option 2.

If you have no connections you're likely going to choose the "sweatshop bank". For summer internships sweatshop banks are actually underrated. Why? All you have to do is give up 10 weeks of hell and not be a captain complainer and you'll pretty much get an offer.

So thats how you start making the fine tuning to your decision. Its actually quite hard to "read" a bank based on personalities, your best bet is to judge their eyes and body conditions. Wrote about this in the past. But you can easily interview with a d-bag MD and he just comes off perfectly in the interview because he is trying to sell you... its his job after all to be good at sales.

So with all that said, that's basically how you differentiate between the two options the OP has posted.

Don't forget to take into account the overall strength of the bank too.

If we're talking about JPM vs Citi, go Citi.

If we're talking JPM vs UBS, go JPM -- even if the group sucks.

Note: This is especially true if you want to stay in banking. You're going to want to still have a job.

I am a second year analyst in one of the best groups on the street and chose prestige over cultural fit and regretted it after a couple months in. Every day is hell, and I can't wait to leave. I am far smarter than most of my peers, and they all outperform me because I just don't give a shit. My group, however, was good enough to land me a great buyside job without the top performance, so there is a trade off.

Like others said it really depends but if its somewhat comparable and in the same league, always go for cultural fit.

the above posters have definitely summed this up pretty nicely. but ultimately it is a decision of, do you want to enjoy being at work or hate it come your 6th month on the job.

Yeah the basics are all up here and you've got the summary.

@bigbadanalyst. Feel where you're coming from, basically you're in bitter banker 2nd year mode. That's fine. Look at the end results though you stated:

"was good enough to land me a great buyside job WITHOUT the top performance" (emphasis added)

That's pretty heavy stuff. You'll forget entirely about your analyst days in about 6 months. Seriously is all just a bad dream once you're done.

It's (2). 90% of the banking experience is based on the people around you. it doesn't matter how good (1) is - if you have the people, it will give you white hair, and shave YEARS off your life. not worth it. friend at a top notch BB group had a meltdown and quit couple months into the job. yea, not worth it

bankerzhausDotcom

i always chuckle at this "i like the people"/"don't like the people" commentary. who are "the people"? what sample size? in reality prospective monkeys are not in any position to determine "cultural fit" in a meaningful way. meeting a few people and having a few superficial conversations isn't enough to conclude much about culture. many will wrongly conclude that group X/bank Y is a good cultural fit and others will wrongly conclude they're a great cultural fit. there are so many variables that will determine your happiness with "the people" - it's not easy to tell beforehand.

just because you were broing out with some associate in an informational talking about college football doesn't mean he's going to be great to work with or even that you'll like him after being around him for more than an hour. same goes for the reverse. i'm not saying it's a total crapshoot...you can definitely feel more/less comfortable with certain people/banks but the confidence with which people make major decisions is strange to me.

DoubleBottomLine is correct.

Your best bet for "cultural fit" is as follows: 1. You personally know and have worked with them (this is a no brainer to choose option 2) 2. They Do not look tired. (no bags means less all nighters) 3. They look in shape (have time to work out) 4. They have lots of cheesy bets on boards and other non work related stuff within eye sight (means there is more of a fun vibe to the office versus a sweat shop fuck you over in the process vibe)

Notice none of the above says anything about the real interview process. Interviewers are good at acting happy go lucky at all times because if we want you to join our firm we will be... happy and nice because we want your qualified ass to sign the dotted line.

Hope that helps.

Midatlantica:

Which offer would you rather take for a summer internship-

1) A top BB where you don't particularly like the people

or

2) A "lesser" BB where you love the people

Note: Definitely considering career in investment banking, so not just focused on exit opps. If I did leave after analyst stint I would only be interested in HF

The prestige factor is guaranteed - you know that GS is a better name than UBS, etc., but the second factor (the people) might not be at all. Not only do first impressions not always indicate how they are to work with (some of the coolest people I met during interviews have turned out to be monsters to work for, and some of the weird people I met turned out to be really cool), but you might work with a completely different set of people from those you interviewed with. I'd say guaranteed better name/buyside recruiting (and it matters 100%) > possibility of better people

Thanks for all the great responses. I guess I should say that I've networked a ton and have probably met 30+ people from firm 2. Multiple desk visits with different groups and too many conversations to keep count of.

Given that this is for summer internships I guess I can always do accelerated recruiting if it turns out I made the wrong decision.

(1) you bumblefuck. You will only be there for 1-2 years anyway and your exit opps will definitely suffer if you go to (2). Guys in (2) always trying to weasle their way into interviews at my fund and I just lol at them all day long.

Option A easily. Do not turn down GS/MS for some fratty bro at Barclays. Also remember the recruiting face. If you are pretty awesome, which you should be if you have multiple options, Barclays guys will try hard to recruit you while GS feels like you should go to them. It's only 2 years, you will work 90-100 hours in either places and no one calls it the best time of their lives wherever they work. Go with the best brand, group, stability - it matters.

Why not get an offer that has both positive qualities? Few things in life are either/or, unless you make them.

I'd say under most cases go with 1- if you actually know the guys you will be working with (as in literally in your group/on your desk) and how you feel about them is drastically different, that might be another story. But every bank has good people and bad people, and the reality is that besides the people you interact with on a day to day basis, you won't see the others that much. Keep in mind that these are firms with thousands of employees- you'll meet people you like/hate at both.

Now, if you are truly convinced that the cultures are that different and don't see your analyst program as a 2 and out (as in you are planning on staying in banking, which is a stupid thing to plan this early) then I might say take #2.

@ bigbadanalyst - Was in your shoes before. Don't worry about it, your low twenties are no where near the peak of your life, just keep pushing you won't regret it. You will survive and you'll absolutely laugh about your low twenties, seriously nothing is peaking at that age. Not that much cash and the girls still think you're a little kid. If you survive till 30ish which it sounds like you will. It will be laughably different.

Back to the OP. Basically listen to tradesalot... However for intership again an offer from a BB in general is all you really need so whatever nets you that go for it. When it comes to the 2 year offer, then yeah prestige starts to trump bc it is guaranteed.

Good luck