BMO Capital Markets, Chicago vs New York
I know that BMO Capital Markets is a bit unique in the sense that their US investment banking HQ is in Chicago, but their New York office is bigger. I was curious if anybody had any insight on how this impacts firm dynamics: where the MD and partner's are mostly located, where the deals are typically executed out of, and which is generally the stronger office?
Summered at BMO and got an offer and the firm is a shitshow. Stay the hell away if you can.
That said, some groups sit in NY and some in Chicago and group placement takes place after you’ve gotten an offer. I would apply to whatever city has groups you would want to work in. NY takes more interns.
Chicago: Real Estate, Consumer and Retail, commercial banking & loan syndication
NY: Fig, Sponsors, TBS, Power, ECM, healthcare, DCM-IG
Both: M&A, industrials, lev fin
I’m in incoming SA in Chicago, what groups would you recommend?
Would you be able to elaborate on why it's a shit show?
Axed energy team with no warning, shit bonuses (one kid told me 17.5k), bad deal flow, everyone is leaving (short staffed - actively hiring for dozens of positions), lots of pitching and terrible hours, protected saturdays are a joke, shitty culture, and if you're interested in MF or UMM PE good luck
So I imagine you’re not there full-time… Can you elaborate on how you went about recruiting afterward for full-time, and what kind of place you ended up at (and in what city?)
Business is split 50/50 between Chicago/NY. The only worthy consideration is where you want to live and put down roots
In light of all other posts, my coverage group is not toxic, and we are in NYC
I'm also at BMO nyc in a coverage group, and id say the group has a pretty good culture compared to all the other recent posts on WSO
Current BMO associate. Don’t come here. We just pitch and lose and the hours/culture are terrible. Pay is way under market. If it’s your only offer, NY has better deal flow and the juniors there get put on all of the interesting deals (because that’s where the staffers are). Chicago has better hours.
How much of an upgrade is the New York office, or is it only marginally better?
What are the best groups to be in for NY?
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