Holy employees… scrolling through LinkedIn and each group at BofA has well over 100 juniors in each group let alone like 50 MDs covering the same industry.
What is the average headcount per group?
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Based on previous WSO threads, the headcount allocation in investment banking groups can vary significantly. Here are some insights:
The exact headcount per group can depend on several factors, including the size of the bank, the specific industry coverage, and the projected revenue or deal count for the group.
Sources: The Truth About IB Headcount in 2021, How do investment banks allocate analyst and associate headcount to different groups?, Group Size, The Truth About IB Headcount in 2021, BofA Coverage Groups 2020
I don’t think it’s that high, but it’s certainly bloated.
It heavily depends on group. Some groups (usually the slower ones) are more bloated, while the sweatier groups that bring in deals saw a lot of attrition this year and therefore have more reasonable headcount.
A&A count is probably accurate. Don’t think 50 MDs per group is right though. Maybe in EGRC though… that group is larger that some of the legit middle market firms out there, but no deals lol
What is EGRC? How do you have no deals with 50 MDs?
Emerging Growth & Regional Coverage - focuses on penetrating middle market coverage to compete with the regional banks.
I don’t know of any coverage groups (besides EGRC) who have 100+ juniors. My group has ~50 and is one of the larger ones. Maybe product groups are larger
Would you be willing to PM me about your experiences at BofA and any interactions you've had with the EGRC team.
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