BofA
I know they have been growing rapidly over the past 5 years but what is the street's opinion on their IB group as a whole? I know HC and LevFin are pretty highly regarded but does anyone have thoughts?
It seems like they do a decent amount of deals but never take a lead role for the major ones.
BofA is infamous for having HORRIBLE culture and working their analysts harder than any other bank (on the whole).
I believe their entire class has left after their analyst stint 2 years running.
Where did they go to?
Let me rephrase that, what kind of exit opps. do they offer?
How is their Comp compared to Street?
pay is the same as the street.
BofA is on the move. they just hired a ton of people from Citi and they have a lot going for them.
dont know where they went
BofA just doesn't have that investment-banking name to it; sounds like a fucking everyday deposit my check bank.
but being the second largest bank in the world does give you some power.
it's nice to work for someone that 5 years ago was unheard of and now is #7 on league tables. they pay well too and treat their employees well
BofA is not #7. they are #17 on global ytd announced league tables and #11 on us ytd announced league tables.
Do you think they are going to keep growing at this pace or level off as a 2nd tier?
Do they treat their employees well, or have a horrible culture and treat analysts like shit? Obviously differs by region/group. Know anything about NYC?
BofA is second tier; it's very hard to "grow" into a first tier bank.
As I mentioned before, from what I have heard, NYC analysts are treated like shit (worked worse than other analysts at banks).
"Do they treat their employees well, or have a horrible culture and treat analysts like shit? Obviously differs by region/group. Know anything about NYC?"
yeah, these simpletons' attempts at defining the culture of an entire investment bank are useless. i've heard too many contradicting statements about various banks' culture to give a shit anymore. let's face it: - they ALL work you to death - they ALL are pretty cool/laid back when you get to know them as people - they ALL want their analysts cooperating as a team - they ALL want their analysts to aim for individual achievement and learning on their own
"all work you to death"
true in the general sense, but there are differences between banks/groups
"all laid back"
again, true in the general sense, but some banks have a frat culture (JPM/UBS/MS) while others not so much (Lehman)
rumor has it that they're gonna buy an investment bank to strengthen their reputation
I work for BofA and just turned down an offer at Goldman Sachs.... my group does work me to death, but not any different than my friends at other banks. I make the same money as my friends at other banks and I'm really happy here at BofA, so I decided to stay.
The only true way to determine a group's culture is to speak with the people in the group and see for yourself.
That being said, I have no idea what "frat" culture is (I was in a fraternity and it's exactly the same as not being in a fraternity...only with more organized drinking events).
thanks for all the responses guys. Let me know if anyone else has comments.
For you who turned down the job at Goldman. What kind of exit opps does the HC/LevFin groups have compared to tier one banks? I assume it is near the same but thought I would ask.
"That being said, I have no idea what 'frat' culture is (I was in a fraternity and it's exactly the same as not being in a fraternity...only with more organized drinking events)."
yeah, it's stupid. ignorant people like to say stuff like, "Oh he's out living the frat boy lifestyle!" - Really? You mean he's doing the same things every straight, non-religious male between the age of 17 and 26 is doing?
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