The worst investment banking groups thread really took off, so I thought I would start one for the opposite. Which groups have you heard have the most easygoing culture/nicest superiors/best hours?
Asking for my own purposes as well since I'm currently going through recruiting...
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Interesting that there are no comments on this one isn't it?
This is just from my observations:
-M&A groups are the worst hours (I'm in M&A) -Capital markets tends to some of the 'better' hours in IB but they make less (not sure on comp here - I'm sure there is a thread on it) -Coverage groups like FIG seem to have worse hours (this may be due to the personalities that like FIG work though) -Depending on the bank, there are certain groups that just get crushed. This is due to a combination of MD personalities and general firm culture. There may be different sub-culture within each coverage group.
This is really general but if anyone has specifics, I'd be curious to hear about them.
What exactly is a FIG personality?????
Sponsors groups at certain banks tend to be pretty easygoing while still having good PE placement.
JP - TMT (NYC) I have a family friend who's worked there for a few years and is a currently an associate. From what he's told me, senior people are pretty chill - he never worked over 90 hours as an analyst, even during active deals.
Full Time Offer (top IBD groups) (Originally Posted: 03/09/2007)
Would you say that it is harder for a summer analyst in one of the top ibd groups (i.e. cs sponsors, ms m&a, gs tmt etc...) to get a full time offer than in other less sought after groups?
Reasons:
1) Interns tend to be of a higher caliber and possibly more intense about banking in general.
2) As a result of how difficult these groups are to place in, I would imagine that the interns in these groups would be more dedicated to the idea of banking full-time and thus less likely to want to switch industries after the summer.
3)As a result of 2) and severely less lateraling into other ibd groups (already in top group so not as much incentive to leave for anothe ibd group) by the interns in these groups I'm guessing that these groups have a much higher acceptance rate of offers and thus can manage to give out less offers.
Do firms account for this high acceptance rate and place less summers in these top groups? Is the offer rate back into the top group for ft lower for these groups? Do these firms often give interns in these top groups ft offers in other non-top groups?
To an extent; but it mainly depends on the group. Fit is a bigger issue and most groups will take all their summers back if they are exceptional.
I heard that UBS LA turned down a summer who was Jerome Fisher Engineering / Business at Penn but the overall return offer % was around 85%; for the ones that dont make it I guarantee you it's a fit rather than performance issue. I have a buddy at GS TMT and 80% of his class got offers which is consistent with the rest of GS.
BS M&A i heard offered all their analysts as well although I can't confirm if thats completely true.
I can confirm about the BS M&A, Westcoasting, they had an exceptional crowd.
The internship is like an extended interview process. If you get along with the people, work hard, and show promise for growth in the future, you'll get an offer.
bump
What IBD group would you pursue? (Originally Posted: 11/14/2017)
I am an incoming IBD analyst, and I will be going through a selection process to choose a group that I want to work in. I really don't have any hard preferences, and I was curious to what you guys would choose or suggest.
TMT
The answer depends a lot on what you hope to get out of your analyst stint.
If you want to move into PE or stay in banking down the road, your goal should be to develop as much technical expertise and deal experience as possible. So modeling-heavy groups (i.e. M&A, LevFin) followed by the coverage groups with the best deal flow (this varies by bank, take a look at league tables to figure out which ones are best at your particular bank) are best.
If you want to go into corpdev, investor relations, or the like, either pick the group that covers the industries you're most interested in, since you'll be entirely exposed to those types of companies, or do ECM/DCM, since they have the best work/life balance at the analyst level.
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