Citi or ML for M&A - which one to join FT?
Hello everyone, I am new to posting on WSO but have been lurking around for a while and have gone through previous threads. I finally decided to post something and would like to get people's view.
I graduated from one of the target schools recently (Penn/Yale/Columbia). Thanks to some connections from school and elsewhere, I have been offered 2 spots for FT at both Citi & ML in September. I had my final rounds in May, and I'll be joining as Analyst Class of 2013. Gap year.
I just wanted to seek people's view over here that assuming all else constant - no prior knowledge of which product/industry group would i join at either of the two banks - which one should I go for? I know a lot of similar posts have been made in the past where people ask to rate banks and then a bashing continues but I have no such intentions. Once I confirm to HR that I am joining, only then will be I allotted a team.
My own gut feeling wants me to go for Citi, but then again, I think Citi/ML are almost the same in terms of heavy weights - would love to get other views and help me make this decision. My ultimate goal is to do PE after 3 years. Thanks a lot guys!
My first instinct would be to go with your gut feeling, but I would want to know why you are thinking Citi. If it's because you have more friends there or you liked the guys you interviewed with then I would go with your gut. If it's for some other obscure reason I would be more skeptical.
DISCLAIMER: I am in one of those groups.
To be honest, I liked the people at both places. Everyone was very nice to me but I think it was more to do with the connection that I was coming through, instead of my own personality or their nature per se. I also have friends from college working at both places - not best friends but good acquaintances. All of them are in industry groups, and I have no idea how are their groups going. When asked, everyone responds very busy. For all I know, they might be busy pitching rather than deals. It's a sensitive question, as you may understand, and I have no other source to verify how are the teams at both places.
My gut feeling tells me Citi just due to the fact that I heard Citi hiring a lot of senior people last year from its competitors which I would think would show good results either this year or by next.. might be completely wrong. And just so because some big deals that have come out in the last 2 years, I have seen Citi as an advisor on them. Would love to get your view on which bank should I go for? Like, I said, I am fishing for views!
Long BAC. Nicer offices too.
Some M&A groups are heavier on pitching while others lean heavily on industry groups to do that kind of work. There is a lot of variance across Wall Street on this, so you might want to do some due dilligence.
Barring which industry group are you working in- do you think both Citi/ML would provide equal exit opportunities? Also, as a side note, say if you get stuck in an industry that is very heavily reliant on pitching, what are your exit options? many thanks!
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