Just wondering how people view RBS given its government stake ownership and how much RBS has struggled in the past few years. Trying to get an idea of the relative level of prestige of RBS.
For a SA offer, would you take RBS (Stamford) over a Baird/Lincoln/BMO/Blair in Chicago? What about compared to Jefferies/RBC/Nomura?
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I think most of these firms are roughly in the same league when it comes to opportunities, though I do not work in IBD. The real question is:
1.) Do you want to work in NYC, Stamford, or Chi-town? 2.) Which interviewers did you like more?
(2) is really key if this is an FT offer.
does this kid ever stop giving bad advice?
interviewers never act like how they are when u start working. also they could be mean on purpose (like GS interviewers) and be super nice once u start or be like a scam and be super nice in interview and sweat shop you after you join.
illinois is a true scourge of a poster, the kind that has to post to keep up a 4 digit banana count but knows NOTHING. sorry there's no back office board for u to slither away to
For an SA position, I think RBC and Nomura would be good choices, followed by Piper Jaffray, Jefferies, and maybe RBS, followed by the Chicago firms- probably with Baird being the first choice.
But there's a lot of noise within this group and someone really familiar with MMs is going to come along and call me crazy and rearrange the order. They're all fairly good choices and if there's a firm in New York that you're pretty sure you want to work for full-time, I don't think there's a lot of harm in picking a "lesser" firm- assuming the US HQ is in NYC- since the differences aren't that big.
It's a SA, but it also means I'm graduating late if I take it, and I would prefer NYC but Chicago is fine also. I don't have offers from all of the firms I listed. I simply grouped them based on how I perceive RBS: Jefferies/RBC/Nomura > RBS > Baird/Blair/Lincoln/Piper, was trying to get an idea if you guys would agree...
i interned a while back at one of these banks and i have friends or have interviewed at everyone of these banks.
yeah, that's pretty much how i would rank them. the first 3 are more global and have a much larger domestic presence as well. the last 4 are more regionally focused and the caliber of the work they do isn't great. i remember seeing cims from some of the last 4 and catching all sorts of little typos and mistakes. pretty unimpressed.
if you want to work in the us, jefferies has the edge. nomura and rbc are okay too, but their presence here isn't nearly as big but have a much bigger presence abroad. if you want to work in levfin, jefferies once again. think about it, jefferies ib was founded by 60+ ex-drexel employees, so it's levfin business has some serious history to it.
i see rbc and rbs on recent deals sometimes, but they don't lead very often, which is big if you want to work in levfin.
Out of those RBS/RBC/Jeffries/Nomura, I'd probably take RBS if you wanted to do leverage finance or something more structuring oriented, and RBC for anything else.
I can't speak much on the Chicago firms. If this was S&T I'd say RBC 1st for anything. That's just me- others could wildly disagree.
RBS ain't that shit. They still have some good areas.
I am just curious... there are so many BB banks how come you did not manage to get any offer ?
With so many proper ways to phrase a question, how come you not do pick one rite?
Any thoughts from anyone working in industry?
Realize that RBS has a limit on the cash bonus.
Personally I'd choose William Blair and Nomura above the other banks that you mentioned... Nomura in NYC or WB in Chicago.
That's pretty much entirely subjective- but I think those have the best names and I do happen to know a ton of kids (relatively, like 5) that work at WB (I went to HS in chicago) and they all like it... my family also uses them for wealth management and they're awesome -- which makes me have a good impression about their whole firm.
RBS is not doing so well on the IB side but they have always been strong on the capital markets/financing side especially debt. If you get to be part of Lev Fin/DCM at RBS it could be worthwhile to consider that over the MMs. However you should know this- the bonus for 1st year Analysts was £0k last year and analysts have been advised not to expect 'much' this year as well. This is for London, I don't know if they follow the same bonus policy in the US.
Source: Friend works at RBS in IB
So leveraged finance is withing the "capital market" division of RBS, not "banking"?
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