Career Banker London
Was wondering if anyone has any opinions on the best banks to work in as a career banker in London (based on comp, WLB, opportunity of making MD?)
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Based on the most helpful WSO content, if you're considering a long-term career in banking in London, you might want to consider boutiques like Moelis and Evercore. Here's why:
However, it's important to note that these are general observations and the actual experience can vary based on the specific group and role.
Sources: Investment Banking in London (EMEA) - Strongest Players, League Tables, Salaries, Differences..., Commercial Banking - Comp/Lifestyle, Corporate banking on the rise?, Best Banks for Career Banking
Don’t choose London if you’re looking to make money, that 45% income tax above 100k is going to hit hard.
Think most Northern European countries have a similar rate at such income levels? At least where I’m from we do.
Who cares about Nordics? IB is nonexistent there, with deals being run out of London anyway.
At least you get you money's worth in the nordics - not so much in the UK, the NHS is in shambles, public transport is expensive, uni will run you £30k for tuiting alone (for undergrad, more for a master's). I'll be leaving the UK soon, so done with this shitshow.
Feels bad tbh
Why is marginal tax rate so high for the (50k, 60k) range?
Loss of childcare benefits based on a family of 3 children
This depends a lot on team (which you can't control too well unless you somehow get a holistic view of culture at every team at every bank), how good you are, and what stage of life is most important for you.
Two options which probably strike a good "average" (by which I mean the best risk-adjusted probability of overall good WLB, comp, seniority with the caveat that an amazing culture at an otherwise bloodthirsty bank could be better) would be:
1) A good product team at a BB or UMM bank (think ECM, DCM, or one of the derivatives-type teams).
2) Starting at a BB coverage team and being a top performer, gradually moving towards smaller and less reputal banks as you approach more seniors levels.
But it would be insincere to say "Jefferies" or "Alantra" or "Barclays" or such, as it'll be so dependent on the specific team.
Why not Sponsors?
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