Chillest Banks?
What banks are the chillest? I am a person who cares very little about prestige and exit opps. All banks pay well, maybe not street, but still better than any other industry right out of UG. What banks just seem to be relaxed and chill? I would imagine the MMs are the most relaxed and least stressful. Would I be right about that?
Ducera
Financial Technology Partners (140k base)
I think you have a misconception that banking is stressful based solely on culture. This is partly the reason, but the biggest reason is incentive structure and the nature of the business. I'd estimate most banks (Even MM) have the same level of stress (give or take 10% depending on culture) based solely on their role as an investment bank
If you have a "chill" bank - that probably means you have very slow deal flow
In some sense, this is kind of like asking “smallest sumo wrestler.” There’s no BB, EB, or MM that is “chill” in the slightest.
I don’t know of any bank where there aren’t some teams working at least 70-80 hours/week. Even if you join a “chiller” bank, there are some groups that work more hours than the most laid back groups at more intense banks.
I recommend positions other than IB. Equity research and S&T pay more than 99% of entry-level careers, and you might “only” work 50-60 hours/week outside of earnings.
Implying you can’t automate templated slides and models
I don’t think that’s any more true than it is for IB. The value add for ER isn’t modeling or data analysis, which, admittedly, computers can do well through pattern recognition and simple command-following. It’s writing to defend an investment thesis thoughtfully, and opinion-forming. That’s not something that can be automated away at this point. A computer cannot hop on a call with the buyside and have a comprehensive discussion about investments, go on a roadshow with a company’s CEO, or host an earnings call/industry conference. As for S&T, sales is a very human thing, and it hasn’t been established that quantitative trading, in all cases, outperforms real people. The market isn’t such an exact science.
Of course, some modeling and statement-formation/data pulling can be done by machines, but that holds for IB as well.
There are surely risks to both ER and S&T, career progression among them, but I don’t think AI and automation are on the precipice of killing these roles.
I have heard from friends of friends that Santander is v chill
MM doesn’t equate to chillness.
No bank is chill like a normal job. You’re paid for your time and soul
This guy gets it. Also, there’s always money in a banana stand
Truist industry groups are not chill at all other than Consumer. You’re going to work hard because the industry groups do all M&A in house. Product groups are chill.
I never worked there but heard good things about BMO.
Edit: to be clear I was referring to NYC. Idk about their other offices.
I work here and confirm Metals & Mining as well as Power & Utility group are two of the more chill groups and we're generally chill. Everything is chill, this is fine.
Are you in Toronto? Can you please check the 5th floor and make sure there is a guy turning comments on the Project Penis deck? Thanks.
Moelis, saying this as I’m chained to my desk drinking out of a dog bowl