BoA's Real Estate banking group culture
Could anyone please help and comment on the current environment at BoA's Real Estate banking group. What's the banking culture like there? How big is the associate class, what's the % of promotion from associate to VP level, are the senior bankers reasonable toward junior bankers, have they seen a lot of resignation lately in the junior bankers, and last year, how was the bonus compensation last year in this group?
Sorry for so many details questions, but any real insights into this group is appreciated.
Are you talking about CREB? I know some guys in that group. Some came from REITs. Bonuses are not ibanking, just alright. I've heard analyst 20, associate 30k. Hours are more on the 50-60 / week, but this is really dependent on the group. The interaction with the senior banker also depends on the group.
There might also be a distinction between Real Estate products and real estate banking. The bankers bring in more money. PM me, as I'm curious about which city you're working in and whether you are entering the business as an analyst or associate.
BAML REIB guys in NY and Charlotte are solid. From my experience, the culture is fairly laidback relative to other bank groups that Ive worked with. The junior guys seems to be treated fairly (at least in front of clients) and the relationships that I have seen between junior/senior level guys seem to be based on common interests and camaraderie rather than pure subordination and this is the hierarchy, respect it. I also believe that BAML REIB has been well represented in the league tables the past couple of years. Comp and hours are standard IB.
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