Currently a Non-target and investment banking intern at a small MM bank. I’ve seen mixed responses on WSO about BGL and wanted to ask this question again. A recruiter urged me to apply for there 2021 summer analyst position, so I think I’m probably going to get a first round at the least.
Thoughts?
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Hi Accounting-Intern, any of these discussions helpful:
If those topics were completely useless, don't blame me, blame my programmers...
Damn you're my competition then have you heard anything back?
I have a few friends who have interned there. The CHI office seems to have more vast deal exposure (mix of industrials, consumer, healthcare) compared to CLE (mostly industrials and business services). Overall a solid middle market M&A experience.
I work with a director who was there for 5+ years in Chicago. Not great culture and a bit of a sweatshop from what he said. He hasn't worked there in a few years but it wasn't uncommon to hear an MD scream at an analyst.
Chicago office has recruited a lot in recent yrs and has been quite strong in MM e-commerce and business services. Has a rep for driving analysts quite hard, but also heard that it pays decent nowadays.
any update on their recruiting timeline?
Recruiting for them is usually done in August. Two rounds: one or two phone interviews and one superday. The interview is extremely easy and almost entirely behavioral. Expect only a couple of technical questions, if any, and they won't be beyond any of the guides. Just be aware that they rescinded offers for half of their summer analysts this year a month before their start date.
Spot on man. Just did my interview yesterday and the only technicals they asked were if you had 1 statement which would you use and if you had 2 which you would choose.
I would be extremely cautious when applying there and recommend you look at other banks. They rescinded offers for about half of their incoming analysts and summer analysts due to COVID-19 a month before their start date (They have a history of doing this). In addition, the culture is very bad with analysts working until 3-4am almost every night with slightly below street pay. They have extremely high turnover as almost all analysts and associates leave within one year. According to LinkedIn and their website, they are always hiring, but the reason is that analysts are constantly leaving.
How do you know?
I was very recently employed there
Mixed responses? Who on earth has said something positive about them??
Recent summer analyst friends I have who worked there say the Chicago office got a great culture and nothing but good things to say. Honestly though if I got the offer I would accept it and see if I could get anything else then renege if I got another IBDSA role
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Love when people talk about how good a group/office is in when their source was from when they were recruiting. Yeah no shit they told you it was great to work there they were trying to impress and hire you. It’s not like people are honest and going to shit on their own group when recruiting
BGL: the “equities in Dallas” of Midwestern Banking.
More like the back office folks for the equities in Dallas guys
Know a guy that recently left (CLE). The rumors are true.
Overall a pretty crappy experience, but it serves its purpose. You will get worked to death by toxic senior people for slightly below street pay. However, it is a pretty good place for non-targets to get their foot in the door, get some banking experience under the belt, and then lateral to a better shop.
Don't look at BGL as a place to develop a great banking career. Look at it as a stepping stone to bigger and better things.
Have a coworker who was there for a short stint. Here’s BGL in a nutshell, they let go of most of their analysts and incoming analysts in May (notified graduates a month before start dates). Heard they tried to rehire some of these guys (everyone told them no). Things are so bad now, that the people they kept are leaving. Would not touch this place with a ten foot pole.
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