Offer decision HK IB
I am comparing 2 offers
Both offers are in HK office and the EB is M&A/ RX while BB offers are M&A/sector. How would you decide?
Please feel free to make any assumption if your answer is ‘depends’
like which specific team of the above bank will be easy flop and which shd definitely take
To my understanding the BBs tend to have a stronger presence in HK relative to EBs versus other regions - very few of the EBs have very strong offices in APAC, so BBs might be a better choice in general.
Between the BBs, probably GS / MS > JPM / BofA > Citi. Did hear that MS, BofA and Citi's culture is not the best in HK though.
Thank you!!
Does your comparison apply to any groups in the BB bank? Or there is any specific thoughts regarding the groups in BB
The only EB worth considering is probably EVR in HK, if it ain't the one you got, just take the BB
What about Lazard?
Not sure about HK, but in SG they only have PCA division
Their HK office operates together with their BJ office. Headcount in total was about 20ish.
I'd say HL's HK office is pretty solid. Their restructuring practice seems to be the best?
Recently having an exodus/people leaving because Lazard HK is probably hellish because you have sweatshop + HK working culture added together.
Interviewed with them and didn't get a great vibe. Was deep into the procedure, didn't get the offer. Call me salty if you want tho.
Unless the BB role is ECM I would say BB in a heartbeat (especially as all the names you listed are US BBs, which are the best ones) - in general EBs just are not on the same level in terms of dealflow/exits/reputation in APAC vs. the US.
Thanks!! BB would be a better option in terms of PE exits? Just worry that in HK BB IB focus much on ipo and wouldn’t have enough exposure in modelling
PE shops in Asia general are just not as sophisticated as the US - a lot of VC/Growth-focused shops who don't care as much if your experience is IPO-heavy (even a benefit in their eyes). Buyout shops like Baring, Bain, BX, PAG etc. would care more about modelling, but you'll definitely get more modelling experience at BB IBD vs. others, especially given overall lean deal teams. Don't see much reason for going to a EB in Asia at all really.
Bump
Are those FT or SA offers? Because if it's a SA offer, you might want to consider the return rate. BBs generally won't return less than 50% of its summer class unless it's a very very bad year for business, whereas at EBs in HK their headcounts are much more limited and only hire on a need basis (may or may not return their interns).
Thanks for the thread, sorry for unclear the offers are for FT roles
I see, then perhaps group placement will come into play here since FT are usually hired to a specific group (at least at most of the BBs). Take the BB offer if you want a specific industry coverage experience because most EBs in HK that I know run generalist program for their analysts (I've interviewed and received offers from both BB and EB in HK). Congrats on your offer btw!
Thank you so much. May I know which offer u finally took?
And Does the gp matter so much in terms of PE exit? How would you compare the less desired group (maybe RE/ FIG) in BB with EB
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