Any update on Citi regarding the investment banking / M&A group? What about culture and hours at associate level?
For context, currently an associate at a well known EB and thinking about lateraling there to get a broader experience, rather than doing M&A only. Also looking to potentially be a career banker and it looks like it would be easier at a BB.
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Strong momentum across multiple groups
1) Just behind GS/JPM/MS in M&A fees collected YTD25
2) Best-performing and established groups: Industrials, M&A
3) Very good momentum: C&R, TMT, and HC (notable landmark deals in EMEA & US)
4) M&A + Fixed Income = ~70% of total fees YTD25
5) Culture in London is solid (some MDs terrible)+ WLB manageable overall, but can get grinded (esp. AN2&3)
6) Not sure about US culture and WLB
Many thanks for taking the time to answer, super insightful.
1) Can you elaborate on the terrible MDs?
2) Do you know more about other teams such as Real Estate and Power/Infra?
3) How would you describe WLB for associates and above?
1) Can’t go into details, but you know how it is. Some MD/Ds are great and pragmatic, others… not so much. Can flip the deck last minute and make you redo large chunks for vague reasons. Classic IB drill!
2) No insight. Hopefully someone from those teams can provide more info
3) Same. Probably best to wait for an AS1-3 to comment. But from what I've seen, don't expect to work a lot less than at an EB. It’s indeed lighter on average, but not dramatically so. That being said, needs to be confirmed by some AS/VP
Long monkey post, not a ton of substance so apologies in advance
Do you have any insights in the Financial Strategy Group (FSG) or Capital Strategy and Structuring(CSS)?
FSG - very technical and sweaty, work very closely with the data science team in London.
If you’re coming from an EB and don’t want the EB hours anymore, M&A/Power team wouldn’t make sense.
You probably want C&R, Industrials, GAM (Sponsors), M&T, RE
RE team is not given enough credit here. They are cracked in the RE space. If you don’t do RE Citi, you would do RE JPM, Goldman, BofA, MS.
Thank you for taking the time to reply. Interesting, do you have any insights about the RE team? Hours, culture, etc? I checked and it seems they have been growing recently, with the team being managed by a young MD now.
Also interested to learn more about GAM
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What about FIG bc they had summer apps last year
NYC Most Sweaty Groups: Power, Software, M&A
Plenty of deal experience but hours can get really really bad. Very lean.
What does ‘really really bad’ hours mean? 90 hrs average/ 10am-2am M-F and 10 hours Sunday?
Average 90, which however implies “bad weeks” can easily venture a good amount over 100. Its just so busy right now. Hopefully we all get paid.
Power interns and M&A interns work 9 AM to 4/5 AM. Sundays all day too.
How is Citi Houston these days post Trauber?
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