Hi, currently a sophomore at a non-target looking to break into Los Angeles IB specifically. Unfortunately, I do not have any connections with alumni and I can't seem to find anyone that is willing to meet. Are there just not that many banks in LA or are the groups small/hard to find? Need as much help as I can get at the moment.
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if you want an overview of the la banking scene there is a really good post on wso just search for it "LA banking 2023" or something. For quick notes Moelis is the best group in LA by a decent bit, BB prescence is limited with MS getting rid of the analyst program and the jpm and gs offices being really small. HL RX is also a top spot. More on the post. Also note that LA IB is very networking based.
Thanks for the comment. I have read that post and sent a few emails an attempt to network but I am getting really bad engagement in comparison to what I thought
Here are some posts you should read:
https://www.wallstreetoasis.com/forum/investment-banking/la-offices-jpm…
https://www.wallstreetoasis.com/forum/investment-banking/guide-to-la-ib…
https://www.wallstreetoasis.com/forum/investment-banking/pwp-la-lazard-…
https://www.wallstreetoasis.com/forum/investment-banking/moelis-la-in-2…
https://www.wallstreetoasis.com/forum/investment-banking/pwp-la-vs-laza…
I think the only semi-outdated info is on LAZ LA, seems like the guy who ran the A&D franchise went to PWP and brought over some other people. Hope this resource helps. In terms of networking, I know Moelis LA takes a few uber non-targets. First, maybe you should look at your resume and make sure it's well formatted. Second check if your cold email is on-par with what other people are sending. Third remember to follow up 2-3 times (people can get busy). Finally man, just keep grinding. You're a non-target-- essentially the 16th seed in march madness. You just need to impress one person to get the ball rolling. You're first job also isn't like going to college. No one will really hold you to it (your career will probably span ~40-45 years give or take). Good luck man!
The guy who left LAZ for PWP wasn’t the BSD in the office, good dude but he hasn’t closed shit since going to Perella.
Thanks for the info. Worked on the format of my resume/email but haven't gotten many responses. When would you recommend following up, and would you just resend the same email? This comment helped a lot needed some hype, thank you!
Just repeat most of the email a couple weeks later with a little blob “I reached out a couple weeks ago but it seems we learnt able to connect. I know your very busy but I’m very interested in investment banking and would love the chance to chat” or something of the sort. Bankers are much more likely to respond to follow ups
Any updates on citi M&M?
Tier 1: Groups stronger than/on par with the NY office:
Barclays FSG: strongest FSG in LA after the demise of CS. WLB and culture are insanely good and PE exits are stellar.
Moelis LA: strongest generalist shop in LA. Exits are not what they used to be but still pretty strong. Hours are brutal tho.
HL RX: their HQ office and places very well into distressed/special sits buy-sides.
Tier 2: decent offices with niche industry/regional strengths
PWP, Ducera, GS, Lazard
Tier 3: average satellite offices
Citi, Rothschild, BofA
Genuinely curious where some people get such bad misinformation and feel confident in spreading it.
Not that I think he’s right in any regard but curious to what you think the most inaccurate part of his post was
Thoughts on Santander? Lot of the CS folks seem to have moved over
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