Hello, I am looking for any insights on BAML vs Citi (both London office) in terms of deal flow / culture / best groups. Any comments on other aspects such as compensation, global mobility, perks, training, etc. are highly appreciated as well. Thanks a lot!
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With no doubt BAML > Citi in London. Even if there are some franchise teams in both, BAML is growing at a really fast pace in almost every single group in M&A coverage.
For example TMT, FIG and NRG are getting very strong with a lot of growth. And yes, HC is incredible. They work little hours (incredibly little), they go for drinks very often and have massive deal flow taking into account its size. Same with M&A but hear they work harder.
Agree with the above, while Citi is very strong in the US atm, BAML simply has a much stronger track record in Europe.
Even if you are looking at specific teams, there isn't really one area where Citi would necessarily be better from a European perspective. Also Canary Wharf is horrible, pay is lower and no NY training.
Additionally, BofA has a top notch culture in London, completely unrivalled by the other BBs
Not really, culture differs a lot from team to team. I could say a well respected team with a toxic culture coming from 2 MDs at BAML London.
In any case very accurate that most teams in London are better than Citis. To be honest in EMEAA they are consistently top 2 & 3 in M&A almost every year with a small headcount (compared to JPM)
Why is canary wharf horrible? The lack of nightlife?
Think about it, its a few miles 30-60 mins away from everything that is fun in London with nothing else than banking towers and some other professionals with no social scene and overall toxic atmosphere. It is basically a high-performance suburb haha
Renting an apartament is much cheaper in CW, so thats also a pro as an analyst. Maybe as an associate that difference is not that high. But trust me that those 500-700 pounds per month seem a lot as an A1 - A2.
And culture is improving a lot in Citi, less work on weekends that at BAML.
If you want decent worklife balance stick to Citi (on average is better) or BAML's HC
Which team at BAML gave you an offer?
Only knowing the team after the matching process before starting. Any insights on specific teams to go for or avoid? (e.g. culture wise) Thanks a lot!
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