Banks with Best Comp + People?

There is a Fintech focused EB called FT Partners. Base is 140k btw. 

I can tell you one thing—it sure as hell isn’t BofA. This place is a literal hellhole. Avoid it if you want real deal flow or want to work with people you don’t hate more than your mother-in-law. Shit people and even shittier bonuses.

To answer your question, the best balance of comp and culture tends to be in the middle market space. HL Business Services is known for a strong "bro culture" and still pays street-level bonuses, I can't speak for other groups. Another solid option is WF. I have two college buddies there—apparently super laid-back seniors, rarely working over 80 hours a week, and still pulling in strong bonuses (better than most BBs). A lot of people say their bankers stay because of the culture and comp, I think it's just an excuse for shit exit opps. Still, if you don’t care about prestige and just want to work with decent people and make solid money, nothing wrong with WF.

Also, bit of life advice: you’re a freshman. Odds are you don’t really know if you want to be a career banker yet. Take the time to explore different paths, get some internships under your belt, and talk to people across the finance world. You’ll be surprised how much your perspective can shift over the next few years, and a diverse network will only help you in the long run. Trust me–I have learned the hard way.

Seems like people are hopping on the wells train so I’ll add my 2 cents. I have a few buddies at wells and during our SA recruiting cycle they made the most (50k), the banks really focused on expanding there IB franchise hence all the senior hires, if you want to be a career banker it’s a good place. Large balance sheet and lots of different products so you’ll get a good view of everything as a junior, you will also have a ton of support and incentive to stay on as a junior as the bank wants to build out its own talent. Your at a target so as long as you don’t fuck up you’ll have shots everywhere, figure out what you want and if that’s being a career banker with good hours id point you to wells. Happy to connect you to my buds and get more specific questions answered if you want - very good culture at wells and the new office is stunning.

PWP is has decent culture according to my buddy there

Bump

PJT. Top of street comp and solid culture in my opinion.

Tobin & Company

• Great comp, decent culture, sweaty: PWP, PJT, HL
• Solid comp, great culture, weaker exits: Wells, Canadian banks (RBC, TD, etc)
• Bad all around/avoid: BofA, Jefferies, Baird

Where does Citi land on this? I know comp is good for interns and bonus is pretty high but unsure of culture + exits.

Keen for any datapoints on TMT-focused boutiques across comp/culture (Q, Raine, LT, Allen&Co, Tidal). Also keen to hear where the other newer boutiques stack up too (DyalCo, Ducera etc)

What abt EVR PCA / PJT PCS?

DB is the answer

Not Leerink

CVP

If you prioritize being a career banker, then I'd aim for 1) capital markets groups (e.g., ECM, DCM, PubFin, etc.) and 2) banks with large balance sheets:

1. CM groups typically work fewer hours than coverage (often 60 - 70, depending on seniority and deal flow), while receiving the same base salary and slightly lower bonuses than coverage / M&A
2. Lending drives deal flow more than some bankers want to admit, and banks with ample balance sheet/lending capabilities make getting deal flow easier (i.e. less hours spent on business development, incremental revenue from non-bookrunner deals, etc.)

if you dont have great aspiration (MF, UMM PE), TD is the way to go. 

People usually works around 60 hrs per week and get paid really well (street base and most importantly the variance for bonus is small)

Culture is also quite nice. TD barely fires people (except after the merger) even if the market is bad so you have a great job stability

Bank of deez nnuts

Curious how MOE shakes up per these metrics - would be curious about peoples thoughts

Boutiques all the way

td cowen

Leaning toward being a career banker at 18 is laughable.

Honestly like a TD or similar if you want something chill. I'm an associate at roughly that kind of bank and while there are obviously very bad weeks there are also weeks I hardly work 40 hours. You do of course always need to be reachable / have your phone on, but in terms of actual work you can find soft spots.

gooningheim partners (not industrials/HC for wlb, cool people across the board)

Stay away from BofA at all costs

I'd caution against thinking you can build a career at a bank that seemingly pays at or above street with seemingly less work.  TD for example, is in growth mode - it is lending a large amount of money to win ancillary business that is actually profitable.  The chickens will come home to roost soon - if they're successful, they'll win more mandates and work will go up but they're not suddenly going to pay EB money.  If they're not successful, pay will go down and cuts will follow.  That may be fine if you only want to do a couple years there but go in with eyes open otherwise.  

Have heard PJT is a grind but good culture and great exits for PE. Solid placement rate the past 3-4 years

Truist