Berenberg London Graduate Program vs Nomura M&A Analyst Frankfurt?
Berenberg London Graduate Program vs Nomura M&A Analyst Frankfurt?
Which one is better in terms of pay/career/exits?
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Did they mention how many employees are currently in the Nomura IBD Frankfurt team? Used to be a very tiny office which might not provide you with a good experience so would be slightly cautious and inclined to go with Berenberg. Nomura has a stronger brand in London, Berenberg in Frankfurt.
Nomura is stronger in debt financings, Berenberg in ECM. Don't think either do too much M&A but might be wrong.
Nomura Frankfurt is a team of around 10 people and primarily does M&A and LBOs. According to merger market it has great deal volume in Germany.
Also note that the London Berenberg grad programme is rotational across all front office functions so might not be what you want if you only want to do IB
As said above Berenberg is a rotational programme but pretty much non-existent in the M&A space.
No idea if Nomura do much M&A in Frankfurt but if thats what the role is then probs more than Berenberg.
Berenberg has a pretty competitive ECM in Germany (competes with lots of BBs) and a well known equity research team across London and Germany. If you are not 100% set on M&A and happy to look at research as well as ECM then go for Berenberg. If you are 100% M&A then Nomura probably offers a better experience and better likelihood of lateralling to a better M&A bank (although for Germany I would argue Berenberg would set you up better for ECM related lateral moves).
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