Best Cultures on the Street
Heard a lot about which groups/banks have terrible cultures but was wondering which banks are known for having good cultures.
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Honestly GS TMT NY has a great culture, yes the hours are terrible but the people are generally a perfect mix of smart, outgoing and friendly.
Also has a very relaxed culture in terms of dress code (analysts wear polos/tees) and WFH (at least in GS standards). Generally also have time for an hour in the gym everyday.
How does TMT culture compare to FIG?
Only thing I can add here is that I worked across from them on a deal recently and the analysts/associates were taking 3am calls from the office … at least at my bank no one is regularly staying at the office that late and seems insane to me
I would say its pretty rare that people are in the office at 3am, at home yeah but rarely in the office. Only reason you would do that was if you were on something very live and was grinding it out with your associate in the office but even then it would just be like me and my associate there alone.
Hours are pretty bad but I would say the people/culture make it bearable, if it was like Industrials or FIG I would've left yesterday.
I've worked across and next to GS for two consecutive deals in TMT and those guys did not seem to be logging off prior to 3am. The one analyst's eyes had such prominent dark circles, it honestly looked like he'd been in a fight. Definitely a sharp guy though, was impressed by their VPs as well.
Have heard the average nights can be around 3am there as well
Ever notice them starting a little on the late side?
Lol this is false
How so?
Svb Securities…awesome group
Any office in particular?
Any office in particular?
Roommate interned there this summer. Can confirm this is blasphemously false
lol is this for the ny office
This aged well
Not a lot of info out in the public but heard CVP has the best culture on street. Open to discussion though.
PWP. Hands down.
Yeah maybe they’ll be the worst performing EB given their size but I’d much rather work there over known sweatshops like Moelis or Evercore
Not sure I agree based on friends that work here. Sure the people seem nice, but my friends are constantly working late on Friday nights and working all weekend, forced to cancel vacation, etc. Seems like an absolute sweat shop to me as an outsider though curious if anyone can chime in that works here
My friend who works there gets slaughtered. Work on important holidays like Thanksgiving, works on PTO days, just gets railed in general. From what I've heard some of the people there are psychos.
PTO days?? Why would you actually put in the system for PTO? Just go on vacation without using PTO then get it all paid out when you leave after 2 years.
53 has an awesome culture. Everyone in the bullpen is friends with one another and everyone holds each other accountable. It’s not too sweaty. Not a small deal volume Investment Bank. Also growing.
Heard a lot of good things about fifth third recently. Any ideas on what their comp is like?
IB base comp is typically the same across the board. Usually you’ll see a +/- 10k differential
CS has the best culture.
Specifically Tech and FSG are the best places to be.
Not only do they have best exit opps (M&A and LevFin also good), but senior employees are really chill and actually socialize with juniors.
Hours are not that bad, and if you’re gonna work late then they will let you know before hand.
Meal and Uber expenses are very generous and lenient about when/where they are ordered to.
And if you ever have an emergency or a problem, seniors are understanding and compassionate.
Loved my time there
Second that. Interned at the neighbor group of Tech this past summer and everyone wears polo and left the office by 7. Very chill group. I don’t know how “strong” the group is however
Gonna have to disagree, back when it was TMT it was a lot of fun, since the split hasn’t been the same. Deal flow (atleast 2020 and 2021) was great tho. Sponsors on the other hand may be one of the best gigs in banking. Hours are chill, happy hours almost every week, exits are top notch.
Echo CS. Sadly just left for PE, but loved my coverage group. Great bullpen culture, seniors were great and cared about us, took us out for drinks etc. Hours weren’t bad, deal flow on par with Barclays/Citi. Think I’m the only one of my friends at BBs/EBs who didnt totally despise my group and banking in general by the end of my 2 years
Any chance you want to say what group this is or lump a couple groups together that have good culture?
For both LA and NY?
Agreed on cs culture
Second CS, especially sponsors.
I'm reading CS as Credit Suisse ?
Rothschild NY has great culture
What's your definition of "best culture"? For some, that likely means an environment conducive to learning how to do this job effectively and efficiently so that, at the end of an analyst stint, you are well positioned to pursue exit opps. For others, it will mean an atmosphere that is less intense and more "collegial" (whatever that actually means). Culture is so subjective and really depends on what you are trying to accomplish. I think there are banks out there with extremely aggressive and driven individuals who have built what I would describe as "winning cultures", but they get sewered regularly on this site for coming across as "mean" or "not caring about junior resources".
Now - to answer the question I think you are actually asking, which is, which banks are going to pander to new hires, I think it is extremely group specific. I have yet to come across a bank that universally treats all new hires exactly the same across groups.
There is very much a difference between being aggressive and driven vs. Simply not caring about junior resources. I also find it interesting that you say pandering to new hires. I am not really sure what you mean by that, but I think we can all pretty much agree that banks should help grow analyst into associates - it leads to better associates and teams. The amount of carrying analyst have to do for some of our MBA associates is ridiculous and our banks don't reward analyst for doing so.
I wholeheartedly agree, and considering my path to VP through the analyst ranks, and my *mostly* negative experiences with MBA Associates, I certainly think that banks should be focused on retaining high-performing analysts. To clarify my comment above, I do think this site tends to focus on some of the less important factors in defining culture when it comes to choosing a bank. While I don't condone some of the hardnose and inappropriate behavior that used to be commonplace on Wall Street, I also think a move too far in the other direction is equally detrimental. I think both sides (senior bankers/management and junior bankers) need to recognize the importance of finding a sustainable middle ground. Analysts should come into this job expecting to work hard and understand that this career path requires certain sacrifices. You are going to be compensated for your time, and if that arrangement isn't agreeable then you need to find another career. Personally, I wish I was less risk-averse and had a more creative mind because I have watched my former classmates excel in other career fields that aren't nearly as demanding because of their intellectual capabilities and hustle.
TLDR: Banks should focus on retaining solid talent which likely means improving how juniors are treated BUT juniors need to understand that this is a demanding, results driven environment that requires personal sacrifices and attracts Type A personalities which can make for an intense workplace.
BX has the perfect balance for the perspective of learning from the best and support when it comes to getting the job done. There are some intensely passionate people here but overall it's a genuinely great place to work. The comp isn't too bad either.
What group and can you tell all in comp for A1-Aso1?
Honestly the comp here is kept pretty secret so I don't even know. I could guess the same range as a BB but that would be complete speculation. The question I was answering was for the entire firm. The place is so small compared to a bank that the leadership ensures a consistent cultural standard no matter which group you are in. Hope that helps
We have a lot of fun over here!
del
Jef's TES team seems to be pretty awesome from culture perspective... senior bankers are all really chill and everyone WFH on Friday's. All of the juniors seem to enjoy each other, have strong deal flow and comp incredibly well. Super relaxed dress code w/ polo's and ABC pants in office. Lenient on food policy and let ppl carry out while finishing up work at home.
Source: friend works there and loves it
FTPinsider
I’m joining UBS, anyone have any insights on that?
sucks
I worked at UBS in their global industrials group few years back and loved it. Great seniors, really interested in your development.
Macquarie. Everyone there seems to like it (referring to maccap and mira)
JEF Tech
How so?
TES is subsector of broader tech franchise... see commment above^. Also seems they're consistently punching above their weight in terms of deal size and, the tech franchise at least, is much more UMM than MM.
Anyone have any thoughts on TD in general or specifically the LevFin team's culture?
TD across the board has a solid culture, I interned there this summer and everyone was nice. People who lateraled from other firms to TD unanimously told me TD culture and WLB was better
Agreed
Moelis
Unironically though
there are a lot of nice people at Moelis who I know but its not the culture thats the issue its the hours which are pretty tough
Two specific banks/groups come to mind as groups I've heard have great culture, both listed in this thread (heavier on the hours vs. average IB groups).
Edit: Purposely being a bit vague because these two banks do recruit often from my school and it wouldn't be hard to find out which school I go to.
The irony of the intern insulting the guy who went to business school is not lost here...
William Blair Tech
.
Patrick, stop coping, they'll work you to death
How's Lazard SF?
The culture at Lazard SF is really good I've heard. The seniors there are nice and especially supportive regarding analyst recruiting for on-cycle and will make calls (unlike GS TMT where you have to recruit secretly). The office also allows you to work from home on Mondays and Fridays and work remotely for one month a year anywhere in the world.
would've said JPM pre covid
PJT CVP GRNHL, the usual.
Thoughts on Cowen?
You mean TD…
td has good culture fwiw
GSX Restructuring, hours are super chill (60hrs a week)
How is HL Chicago?
FWIW they always seem to be hiring on LinkedIN
Really good from everyone I’ve interacted with
I heard it used to be bad, but they've really gotten their shit together. Apparently the head of the HC group has made a sincere effort to turn around HL's reputation. My friends there are happy, and they work significantly less hours than I do...
Anybody knows about HL RX NYC?
Better than LA and much better than London
How bad is London?
JPM DCM teams have awesome culture, good hours, and same pay as coverage bankers
(Ignore title)
also MS financing groups have less hardo/cooler people than the coverage groups from my experience so far
Yeah SLF is a complete vibe. FSG has a good crew as well. Love working on LBOs with them (am in a coverage group).
Setter Capital. Employees are allowed a single washroom break per day.
Barclays LA.
bump. heard it’s basically a 9-5 lol
BofA
Heard energy sucks. Both power and houston
How is M&A?
Have repeatedly heard that PWP has a great culture. People want to stay there.
Barclays and RBC in general (obviously not all groups are equally forward-thinking). Barclays appears to be a bit under street in comp and RBC pays street but doesn't have as strong a brand of course.
At RBC and our team has had 99% turnover at the junior level, with only one associate be on the team for more than 2 years. IDK if this is normal, but seems pretty abnormal to me.
FIG / M&A have high turnover (not sure if you're in one of those); definitely more than average at RBC and in general!
Been involved in recruitment for my alma mater. Historically based on feedback -
Barclays LA and Menlo Park; Rothschild NY; PWP generally (but excluding restructuring and potentially healthcare); some teams at BAML; William Blair generally (but excluding specific teams) this is where most people end up having a good experience. Also had a classmate at GS TMT NY team and they generally had a much better experience than peers but still a high turnover after few years.
HL HC dallas
Hah is this a joke? They’re always hiring on LinkedIn and have never gotten a lateral banker - always candidates with weird backgrounds and everybody bounces after a year or two at all levels
That might’ve been true awhile ago but the group they have now is solid
HL RX Chicago anyone?
Citizens
Are hours lighter at the junior level, anyone know?
Any group in chicago
This is generally true. On average, the Chicago branch of any bank tends to have a better culture than the NYC or LA branches.
On average, same with Houston for O&G
Any info on which BofA group has the best culture? Heard their M&A group is whack af
FSG
jefferies was great.
MTS?
Anyone know about DB ECM?
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