Wondering about the groups deal flow, exits, culture, etc. know they did the Norfolk southern deal and they are one of the highest fee generators but curious about where they stack up compared to the rest of the street
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Pretty sure really good team, probs not as good as GS. The pay is, well....
Deal flow is quite strong, though big group so not everyone can work on the headline deals, though easy to hide and chill for a few years as well.
Lot of senior departures in the past year, the MD hires of the past few years left after guarantees left or not getting paid. Think Lazard for one MD, others to other BBs.
Morale is low, bonuses were extra terrible given the group announced some of the biggest M&A of all time. Associate and VP layer with deal experience likely to lateral in coming months. Directors with deal experience mostly left already.
good group to be in as an incoming SA? Or should I try to gtfo after summer. More interested in being a career banker than PE rn
You'd know more than I would after working there for a summer. Also you would be there next year, which is a long time in IB years. In normal times, there's likely to be at least 35% turnover of staff annually, so you'll be meeting different people than who you interviewed with.
Pay is non existent
Are they done recruiting?
Overall solid group in terms of performance - IND is a consistently busy sector, and BofA is one of the more respectable banks in terms of deal flow. But, morale and culture is terrible there because no one gets paid market except the analysts.
It’s a massive group - aggregate deal flow is decent but deal flow per capita isn’t great.
They are consistently one of the most profitable groups and the bank but their comp gets dragged down by the bloated, shitty IB groups there. Hence why most of the good people have left the past 2-3 years. On a downward trend from 2017-2021 peak.
BofA comp is at or slightly above market for every division except IB - should tell you something about what they value.
good to know, i appreciate the response. do you know what perks are? specifically, are ubers home offered past a certain time?
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