BofA EGRC?
Any insights on this group? Saw they had some senior hires lately.
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Absolutely avoid. No doubt the worst group at bank of america and almost certainly a bottom tier group across the IB landscape. If you are a junior, you are pretty much doomed in there. You will never get to actually learn a sector well because the seniors are mostly generalists and when there is a deal the coverage groups take control while you become an administrative assistant. When the deal remains in the group, it is usually a $100mm poo deal that won't close. Very few juniors exit to a good opportunity and most end up being transferred to private wealth and commercial banking or they stay with the group because they become stuck.
The senior bankers in this group are also bottom bucket players in IB. They spam hire a bunch because they need to show the market that they have a warm body in each city but almost all of them are throw aways from competing firms, bankers who were about to fired from coverage groups and old senile bankers who are trying to collect a few more dollars. They have like 100 senior bankers in the group and you will still rarely see a deal announced from this collection of zombie bankers.
sheesh. Curious how this compares to JPM mid cap?
My take is JPM does much better. Their middle market bankers are actually sector specialists so they know what they are covering and they actually hire talent to win instead of screw ups just to fill seats. A few years ago bank of america started shipping all the bottom bucket juniors and seniors from coverage groups into EGRC while JPM poached all the top talent from bank of america.
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