I recently received offers from both. Is it easy to transfer to IB at CS spg? And how about return rate for each. Also curious about exit. Thxxx!
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Where are you located? US or Europe?
us nyc
located in US NYC
BNP M&A is a sweat shop. I met a few of the M&A analysts as I was going through an interview process at BNP. They looked tired, and complained about having so much work. I think you can get great exits from this place. Don't know how it ranks compared to other banks, most likely not as great, but it doesn't mean you can't do PE/etc.
CS Securitized Products is top-notch. Top 3 player in the US, as well as globally, and their specialty in the US is helping new companies do first-time securitizations. For example, CS structured Carvana's first ever securitization. I know they lost a few good directors as CS announced drastic cuts in spending and bonuses because of the Bill Hwang hedge fund fiasco, but the group is still top notch.
If you're obsessed with prestige, take CS Securitized products. Otherwise, it's really about what you want to do going forward. I'm sure you can switch groups at CS, so you can do 2 years of sec prod and then lev finance. Either way, hours at both BNP and CS are going to be rough. I've found french banks in US to have a pretty shitty culture, so I'm biased here.
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Not easy to do internal transfers at CS, or most banks frankly. Would mean you have to really have a both a hardset reason in why SP isn’t for you and someone else’s spot open up in one of the other groups after the summer and you know exactly which one to target. If you haven’t signed and aren’t hot about either, just keep going. Plenty of spots still open elsewhere.
Who did you end up going with?
There is a meaningful chance cs securitization could become BNP securitization within next year. BNP is the only major Euro bank that's really looking to grow in ibcm.
Lol CS securitized products might not be CS securitized products within the next 24 hours. But it’s a great team that’s made a lot of money over the past few years
CS SPG unit will be nonexistent within the next year as the bank is selling the business and restructuring. Doesn't seem like you have much of a choice now unless you want to be a wealth advisor
CS is honoring all internship offers as seen here
https://www.efinancialcareers.com/news/2022/10/credit-suisse-securitize…
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