BMO NYC or Wells Fargo Charlotte
What should I choose? Posted this before but trying to get more answers.
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What teams I guess. I feel like no one will question you why you picked somethin lik WF LevFin in Charlotte, but I think overall NYC is better.
They are both summer analyst generalist offers, placement is after for both. Is it hard to lateral from clt to nyc at wells?
Depends on group. Some groups will actively push for SAs to switch to NY although I'm not sure which ones yet.
Depends on group, but BMO NYC, do not go to charlotte, there's nothing to do / headhunters discount CLT heavy / dealflow is pretty mid depending on group (ex-WF clt here)
Had to lateral tf out after doing a year in WF CLT FT
They are both generalist offers, placement is after for both
Is it hard to lateral to NYC from clt at wells?
It is tough. Think about it from an IB firm in NYC perspective. You want candidates due to wanting bodies. You don't want to wait 1-2 months for the candidate to hike up from charlotte to nyc in 1-2 months. You want that person to be "plug and play" next week.
depends on groups for both. if its BMO M&M, would take that over Wells, but in most cases I'd take WF if this is SA b/c there's a good chance u can snag NYC for RO
Since both are generalist offers, I’d lean BMO NYC unless you have a specific tie to the South.
The 'CLT to NYC' internal lateral at Wells is doable for Full-Time, but it’s an uphill battle compared to just starting in NYC. Being in Manhattan for your SA stint (BMO) puts you in the mix for networking with other firms and headhunters from Day 1. Even if Wells has a slightly stronger balance sheet, the geographic discount for Charlotte mentioned above is real for future exit ops.
If you take Wells, you're betting on landing a top-tier group like LevFin to make the CLT location 'worth it'—otherwise, BMO in NYC is the safer play for career mobility
Does interning in Charlotte put you at that much of a disadvantage? I’ve never heard of summer analysts networking with HHs during their junior summer/if you re-recruit should you 100% be prioritizing nyc?
I lateraled TF out, night and day. We got HH actually reaching out to me personally. The discount is horrible. WF is a great place if you want to build a career in banking, but if you want to exit to UMM PE NYC, best of luck. Not hating, used to work there.
Was it easy to lateral out to nyc? I will be starting CLT FT and have the same concerns as you
FWIW I lateraled out of BMO nyc and it was pretty easy. My whole team has turned over and we’re at literally every bank across the street.
Unless you have ties to Charlotte / the South, I would take anything in NYC. You’ll have a lot more fun interning in New York and being at the center of the financial world. Yes, BMO is not a great firm, but as long as you’re semi-competent, you can re-recruit after your internship or once you start full-time. I’m at a BB now, but hands down the people were smarter and more savvy at BMO but they just didn’t have enough real reps / creds to be taken seriously in the US. No one will get fired for hiring GS/MS/JPM which is why they are everywhere.
I’d personally take the BMO offer and decide if you 1) actually like banking, 2) actually want to be in NY, and 3) figure out your long term goals.
While people hate on BMO, myself included, it’s not a bad spot to start your career. You’re making $110k out of college, 2 year analyst program, and careers are long, like 40+ years long, starting on the 5th vs 4th yard line really isn’t that bad.
Do you think it would be easy to lateral from WF CLT to EB NYC? Im trying to maximize for exits and am an incoming analyst
If you have any interest in being in Charlotte, I would favor WF Charlotte. The bank has made a lot of progress since moving past the consent order and brought in some major IB talent (Union/Norfolk and Netflix/WBD (RIP) two examples).
Careers are long and its not hard to pivot to NY later. If you want to be in NY though, might be easier to start there to begin with.
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