Chillest Groups and Banks
So I am a sophomore in college who wants to go into IB, but isn't necessarily thrilled in spending 80-100hr weeks constantly churning out deals. Assuming that I am okay with not making 140-160k right out of undergrad, what are some good groups and banks I can work for, so I still get the IB credential, without turning in comments at 2AM? EDIT: Probably going to recruit for Baird Industrials, wish me luck everyone.
Some banks/groups/offices that come to mind for less hours:
Some banks/groups/offices that come to mind for brutal hours include:
Unironically reversing this gets you the right answer more or less(?), unsure about what happens inside Tobin and Co., but rest across both seem right. Pretty sure UBS blows out the rest in WLB if some people on this server are to be believed; what other bank is there where a bunch of "current" bankers can post about their bank 24/7?
That's the joke man
Thanks big dawg. I'm going to recurit for Lazard, I've heard that they have really good hours, and definetly not a sweatshop. I have also heard that definetly no analysts have died from being in Baird Ind. I'm also going to buy a camping tent and set it up at the office so the MD knows I deserve to be VP. I am also going to add a USB C port to my wrist so I can pull even more hours.
You’re behind the curve. I have a Bloomberg terminal implanted into my brain via neuralink and let my VP contact me Hans Niemann style at any time of the day. I even mix coke into my redbull/white monster/Mascal morning/evening cocktail to keep me awake.
Glad to see us at the top. We’re definitely the most chill.
Have heard great things about FMI, a MM firm in the construction/engineering space. Pretty sure they're only in Raleigh and Denver. Comp is a haircut to street, but good WLB and culture
Thanks! I've heart about them, and with the domestic industry push, it might be a firm to look into.
I can confirm - great lifestyle bank but pay is definitely below street
It's all relative. Banking hours even at the supposed chill shops aren't 9-5. There is obviously relatively good WLB compared to other industries but if WLB is a key consideration, maybe IB isn't for you. Even at "worse" banks, there will surely be deal sprints where you are working until 2 AM unless you are truly at a terrible bank (but in that case there's often no real job security).
I get that, and I am fine with working 60-70hrs per week. I just don't want to spend 3 years locked up in an office for 17 hours a day, just so I can burnout and go to another industry. I like the nature and work of IB, just not particularly the hours.
Everyone I know at MM firms works like 60 hour work weeks. But tbh, why would you want to do IB? Most people do it for the exits, and if you're not at a bank doing more hours and reps, the exits are a bit tougher, but if you are doing it because you're actually interested then MMs might actually be a better place to start and move to BB/EB later career.
I was thinking more along the lines of Greenhill and firms like that, but I understand your point. I don't necessarily want to exit to PE or HF. In all honesty I would much rather go to something like VC, which anyways doesn't hire out of IB either way. So it's really more about running a marathon rather than a sprint.
If you want to do VC, go to startups. Every single person I went to school with who ended up in VC started their careers in startups. You learn a lot really fast, and it's way closer to what you'd do in a VC firm. If you want to do growth equity, that does tend to hire more out of IB.
Any reason not to do corporate development? Seems like that's really what you're looking for
If not, maybe lower middle market? I don't know for a fact that it's better hours wise but seems like it should be.
I'm sure there are pockets of BBs or EBs that have easier lifestyles, but it's hard to get an honest answer out of people ahead of time and a few new people can/push from existing people for a promotion completely change the vibe.
If I can land a Corp Dev job out of undergrad, then I would be eternally thankful, but seeing as that is rare, I think IB is still my best shot. It is definetly a bit weird in IB learning about WLB because your seniors can dictate a lot of it.
Del
Got it, is it still a good place to learn the ropes, or move into another industry, or would you say it will become MM?
Generally untrue -- rising 2nd years exits are quite strong and there's been legit deal flow this year. Check out their website if you don't believe me several nice deals
Fake News!
Their M&A team is actually doing pretty well this year, even compared to some other EBs. Exits have also been awesome (Apollo HVF, GTCR, Providence, Lindsay Goldberg, Sixth Street, MDP, HIG etc)
lol they just announced a ~$15B power/utilities merger. Think they also advised on the $10B Skechers/3G Capital deal a couple of months back. While GHL is not what it used to be, it has had a decent year compared to some other firms like PWP or GUGG
GUGG is averaging MM deal size ~500MM :D
GS TMT, Jefferies Houston, MS M&A/Tech all have great WLB
Thanks! I will for sure look at those places!
He is being sarcastic, def stay away from those groups if you want a chiller wlb
Wells Fargo is paradise
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