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May 31, 2024
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How much modeling will this team do? I know at BAML product groups generally do the modeling for coverage groups (with the exception of REGL)
With regards to BoA, this is not true at all. Typically the coverage teams do the modelling. Yes, the M&A team occasionally takes care of the model, but more often will they focus on the logistics of the deal
BAML LA has its RIB platform and completely crushes it. Sources own deals w/some from comm bank div and does full execution - no send off to product grp. Know this from friends who just went through recruiting.
Comp at the junior level is consistent throughout all the groups. Culture is pretty solid since its a smaller/newer group. The group is product and industry agnostic, but has a particular focus on tech industries like FinTech, Biotech, Ecommerce, Cleantech, Industrial Tech, as well as consumer-growth companies. On the regional coverage side of things, EGRC will work with companies in any industry, generally as long as the deal does not surpass $2B. The group has a presence in many cities in the US (but most of the junior analysts are in NY, SF, or LA).
I know an MBA classmate who recruited with them for an SA gig. Team sounded like one of the nicest and down to earth groups with exponential growth over the last few years. A couple of unique things like supporting teams across satellite offices (SLC etc.) and ability to take up larger responsibilities early on stood out. Comp seemed on par with other BofA groups and like another poster said - is fairly consistent till you reach VP level. Not sure about exits or lateral opportunities since they are new-ish.
Addressing comments above, base is consistent across the firm, bonuses are not. This group’s bonuses skew significantly lower. Know a few people leaving come February, including a high performer who I’ve personally worked with. They screwed her over big time. General consensus was disappointment. Source: I work closely with this team.
I don’t know about hours but WLB doesn’t seem to be better or worse than the other coverage teams. Granted I only have a few VP and associate data points, but mid and top bucket bonuses were consistently ~25% below those in the other coverage groups. All I’m saying is do your research and be sure to dig in on comp.