Bank of America Group Placement
With Bank of America Group Placement starting for summer 2023, does anyone have insight into the process or any specific groups?
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Career Resources
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BofA group rankings:
TMT
GIG
C&R
M&A
Healthcare
REGL (very good, but extremely sweaty so docked it)
FIG (don’t do it)
which TMT deals has BofA worked on?
kinda seems like GS/MS/JPM have TMT locked up
I think that the biggest recent deal was advising Amazon on acquiring MGM
Thank you! Two of the more niche groups are Natural Resources & Energy Transition Group (NET) and Emerging Markets & Regional Coverage. I would assume that they are less competitive placement wise, but do you have any insight into them?
There are a few different EGRC teams being built out across the US right now, recruiting is probably less competitive but it would be interesting to be a part of as BofA tries to leverage their commercial banking connections to grow in the middle market
Incoming FT at BofA--have heard wack things about Natural Resources & Energy. Was told to avoid it when networking with FT people during my placements. Idk could be hearsay
What is wrong with BoFA FIG?
Toxic ppl and group culture. Some rlly interesting characters in the group
I did my analyst stint at bofa. You completely failed to mention their top 2 groups - levfin and fsg (sponsors).
Rest of the list is pretty accurate.
What’s the culture like in those groups?
Interned at BofA and returning FT. From my experience and conversations with my peers, I'd definitely argue that C&R provides the best balance between culture, wlb, dealflow, and PE placement out of all the groups. It's not the most sought after group by the hardos, so it's a bit easier to get into. Culture is good for the most part, and you'll get solid deal reps in. PE exits aren't the top among all groups, but are still pretty solid.
Curious about exit ops. Do you have any insight into the number that go into PE, and if they are going to C&R targeted firms? Outside of PE, what are the major placements? CFO within big C&R firms?
Agree on wlb and culture at the C&R team. Definitely has the best culture out of all groups. There’s not really a face time culture, and people are generally nice. Deal flow is meh, not as strong as GS C&R as you can see from all the C&R deals in the past year. Traditionally good at financing (IPO or debt) and a lot of pitching.
Exit to PE is very mediocre. In the analyst class that just finished their 2 years, ~25% went to PE and 50%+ got promoted to A2A. The exits were all to good MMs but no MF or UMM. It could be just selection bias because the team has a really nice culture and cozy lifestyle.
it’s a good group if you want to be a career banker but bad even if you’re slightly interested in PE because you mostly only get looks from consumer related funds. I know most big funds have consumer teams, but if you take a look at their team pages, few of them came from BofA C&R. All the other hot funds like Veritas, Francisco, Genstar, New Mountain and other UMM they don’t even invest in consumer, or consumer makes up a very small part of their portfolio. If you’re dead set on PE, just don’t consider C&R because you’re likely not getting many looks from MFs/UMMs and non-consumer MMs (this is a general rule unless you have family connections or whatever).
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Is it for NY or London/ Europe that group selection has started?
NY, not sure about the Euro timeline
Does anyone know the timeline for placement? Kind of confused why it would be during the school year between apps and the summer?
This is generally the model for the BBs. You accept a generalist offer during recruiting, and then have group placement during winter break
How's regal
Is BOFA FIG full of hardos or is it just not the sexiest group ?
Let me put it this way. Acquaintance of mine works there. And I absolutely despise that person bc he/she is one of the most arrogant and pretentious cuck sucker I’ve seen in investment banking and that person enjoys the culture there very much. Group head is a dick too from what I’ve heard. Sure he’s good at what his doing, but he came off as his bigger than Ken Moelis
Have worked with them / know a few people currently in the group. The Fintech team and AM team are pretty solid from a deal/experience and personnel perspective, the rest of the group is pretty much shit, a couple decent people for sure but experience in insurance and especially banks is not great and has gotten work, they are 70% of the headcount of the group (50% of total is banks/spec fin). Banks team is probably the worst team despite the resources allocated to it and senior support (even CEO support, though that proobably won't last due to the team's bad performance).
How is healthcare?
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Are techs asked during the interview process for group placement?
Yes - paper LBOs for FSG
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