Chicago vs San Fransisco

Was lucky enough to get two summer analyst positions at comparable boutique banks - one of which is in San Francisco and the other in Chicago.

What are thoughts on the two cities? If I wanted to on-cycle to a firm based in the west coast (possibly LA) does being in SF help? Should the fact that SF has more finance firms (H&F, Farallon, Fransisco) affect my decision?

6 Comments
 
Funniest

How does one get an offer at a boutique in SF without knowing how to spell San Francisco?

 

Tons of young professionals, tons of great bars/restaurants, great social/sports scene, boating on underrated Lake Michigan in summer, bad weather only 5 months a year (as opposed to the perceived 12) much more reasonable real estate prices, and violence that is (while definitely a thing to be aware of) perhaps not as big of an issue as advertised (but, yes, still a thing). 

 
Most Helpful

Chicago, but only by a hair. Reasons why:

  • Much more diversified financial economy. SF is strong but tech heavy. Chicago has Industrials, Consumer, Healthcare, Business Services and TMT practices
  • Dollar goes forever in Chicago. Recently had a Director friend of mine move from Chicago to SF and he joked "now I remember what it feels like to be poor"
  • Chicago, culturally, tends to be a nicer city. You can go on a date and not know someone's job by the end of it. SF is much more a city where people ask you "So what do you do?" within 30 seconds of meeting you
  • SF does have much better outdoors. If you like hiking and biking, there's definitely more to do.
  • Controversial take: the cities around Chicago are better than the ones around SF. Yes, SF is within a long drive of Seattle, Vancouver, LA, Vegas and San Diego - all awesome spots. But you could do the same day trip from Chicago and be in NYC, DC, Atlanta, Nashville, Toronto, Montreal, etc. 
 

there are more variables to take into consideration when assessing whether one location will be more conducive towards you on-cycling to an LA / west coast based fund (eg reputation of your product/cov group, have they historically sent analysts to firms that you're eyeing, do you have any ties to LA/west coast that would make your story strong despite you being in Chicago, etc)

 

Veritatis aspernatur vel modi dignissimos facere deserunt. Est omnis inventore et pariatur praesentium excepturi debitis. Aliquid tempore odit voluptatem perspiciatis inventore.

Eius non quos dolor et ut. Ducimus consequatur vitae nulla. Sequi sed voluptas commodi pariatur labore molestiae. Omnis aut eligendi quam repellendus nam perferendis dolorum.

Facilis quia reprehenderit quidem facere. Iusto eligendi dolor ratione molestias cum. Culpa ea sed consectetur minima in expedita omnis voluptatum.

Career Advancement Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.2%

Overall Employee Satisfaction

July 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • Banco Santander 02 97.7%
  • BMO Capital Markets 12 97.1%

Professional Growth Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.7%
  • JPMorgan 01 97.2%

Total Avg Compensation

July 2026 Investment Banking

  • Vice President (16) $429
  • Associates (46) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (80) $150
  • Intern/Summer Analyst (73) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
kanon's picture
kanon
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
DrApeman's picture
DrApeman
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
dosk17's picture
dosk17
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”