Anyone at SMBC Coverage willing to share what its like?
How are the hours, comp, culture, etc etc. Their NYC office
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Based on the most helpful WSO content, SMBC's culture is heavily influenced by its Japanese roots, which can make it unique compared to other banks. Fit is a significant focus during interviews, as they look for candidates who align with their culture. The environment is described as more traditional, and the role in transaction banking seems to involve cash management and accounts receivables/payables for large corporations, primarily Japanese ones.
However, specific details about hours, compensation, and day-to-day responsibilities for analysts are not clearly outlined in the available information. If you're considering SMBC, it might be worth reaching out to current or former employees for firsthand insights or exploring additional WSO threads for more detailed experiences.
Sources: SMBC 2023 FT, Goldman Sachs SLC IBD Overview, Day in the Life--Middle Office (Risk), https://www.wallstreetoasis.com/forum/investment-banking/db-nyc-vs-guggenheim-nyc-vs-rbc-nyc-ma-vs-tph-pwp-houston-for-2019-sa-ft?customgpt=1
CIBC coverage at SMBC is mostly relationship lending based, with largely syndicated mandates. Top teams at the bank overall are PF (market leader) and DCM.
Got it
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Very laid back corporate banking. Worked with variety of product groups on various credit facility opportunities for our corporate client portfolio. Day-to-day you are running firepower analyses, industry overviews, returns analysis on whether we should enter a bank group based on ancillary revenue. It’s a cool gig if you want to get paid significant for doing very little, but definitely limited ceiling on learning opportunities and the Japanese leadership are known to fuck over Americans often. Also with Jefferies potential takeover, not sure what’s going to happen to certain groups.
What did you exit to? What are common exits? Also, how could the Jeff takeover affect coverage banking?
Typical CB exits… You can make the jump to IB but definitely tough but doable. Definitely credit roles are on the table and corp dev. Lots of internal laterally happened when I was briefly there. LevFin had the best exits to private credit it seemed like.
Interesting, could you expand on what you mean by credit roles? Like credit investment arms in AM, or something different? Thanks!
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