Hi Everyone,
Was just wondering if anyone could share insight as to the culture of different groups at CS - are any known to be exceptionally sweaty, fratty, ect? Ive seen a few threads about rankings but none about the actual culture of the groups so I'd figure this thread could be helpful.
| +313 | Return Rates For Interns Are Falling? | 129 | 1h |
| +141 | Article: Why UBS's Asian M&A bankers are thriving and UBS's American M&A bankers are not | 14 | 14h |
| +119 | I am a drunk MD AMA | 40 | 6h |
| +95 | Evercore > Goldman and I don’t think it’s particularly close anymore | 38 | 44m |
| +81 | UBS Offer Day | 29 | 15m |
| +57 | An Outsider’s View of RX Banking Out of College | 6 | 5d |
| +52 | I hate Wells Fargo | 13 | 29m |
| +44 | No return offer - feeling like a failure is an understatement | 16 | 5h |
| +43 | WF Return offers | 28 | 1d |
| +39 | Should I go back into a junior IBD role for comp? | 16 | 21h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
2nd yr at CS, for reference:
M&A: sweaty and nerdy
Sponsors: not too sweaty (but variable), used to be very bro-y but not sure now
TMT (split up, but I still think of them as one group): pretty fratty, lighter side on hours but can get bad
GIG: pretty sweaty and pretty fratty
C/R: sweaty but chill analysts
Healthcare: not too much work and chill
FIG: nerdy and sweaty
RE: chill and not too much work
ECM: seems pretty chill for people, hours are variable but average are pretty good
Can confirm REGAL has great culture. MD's aren't hardos
How's placement and exit-opps in REGAL? What about return offer rates?
Could you elaborate on the difference between the two split-up TMT groups? How big are they and how have they been doing?
Bump. Would love to hear how the two groups are doing post-split. Any difference in deal flow, exits, culture, etc?
Any idea about NY global energy/Infra group?
.
Can confirm from buyside that CS healthcare doesn't seem to have much work lately
Could you give a 2023 update? Thanks
Had a chance to collab with CS SF tech guys and they were pretty chill and delightful to work with. Their hours didn't seem to be light though, especially this year.
heard its tough hours wise there. I don't really know though, NYC analyst
Know 2 ex-CS SF tech analysts (from a bit ago though, like 4-5 years) and yeah, sounded tough hours wise.
Don't think much has changed. Close friend did her summer gig there this year. She was working from home but her hours was 100+ for 10 weeks and had to work until 2 days before Fall semester began. Deal flow must be crazy this year.
Can anyone share input on the levfin and industrial teams in terms of culture and exit opps? Any colour would be greatly appreciated
NYC. LevFin is a bit overrated I think and exits are fine. LevFin is often mixed up with Sponsors, which has great exits and handles all the modeling for PE firms. Culture is fine. Hours not bad, people are on the nerdier / more intense side, including analysts.
GIG has better exits than LevFin, especially the last few classes. Sponsors / M&A are consistently the best, probably followed by TMT then GIG, but lots of variability within the class since it is a larger group (the best few analysts will exit really well, but some may not exit, unlike FSG in which the best analysts place really well and the worst analysts normally still exit). GIG has tougher hours on average, but is a bigger group so there is less of a "one work culture" and probably depends on which team you work with. Frattier / more extroverted analysts
Far fetched question here but could anyone provide insight as to overall NYC office outlook for the next decade. Heard USA operations will be downsizing, but also just an intern
The American investment banks will continue to gain domestic market share, but banks like Barclays and CS will not wind down operations anytime soon, if ever. The chief reason is that these banks’ strategies revolve around providing a multifaceted profile of offerings to their clients, many of which are inherently complementary. For instance, Credit Suisse’s CEO has enumerated time and again that their investment bank is crucially important to their core wealth management business, as often times many of these clients also require capital raising, IPOs, M&A advice (e.g. CS just brought in the former head of IB at BAML to run a new M&A wealth management group), etc.
CS also has one of the best leveraged finance franchises on the street, a function of their strong legacy of senior bankers from DLJ. With the trillions of dollars in private equity dry powder about to be deployed in the coming years, there is a huge market for originating, underwriting, syndicating, and trading that debt. LevFin is their bread and butter, so it wouldn’t make a lot of sense to give up their industry-leading position.
Management has also explicitly laid out plans to increase their “capital light” M&A business in the coming years.
Back to your question: Yes, if you want to be a career banker you may want to throw slightly more weight towards the domestic banks; however, in my opinion this is a moot point at the junior level. European Banks with strong IB platforms aren’t going anywhere anytime soon because it would disrupt their business model and their respective industry-leading niches in the U.S. (e.g. BarCap NR, CS Sponsors). I was worried about the same thing back when I recruited because of all of the pessimistic articles published about European Banks, but I spoke with the former COO of BarCap/CS and others high up in management at Morgan Stanley/Goldman/etc, and all of them told me that banks like BarCap/CS winding down operations was extremely unlikely and shouldn’t affect my decision at all. Hope this helps.
Anyone have any color on the LA office? Heard it’s totally autonomous from NYC and runs all of its own execution.
Covers REGL and Sponsors. Runs their own deals. Work hard play hard from what I know. Great exits
From what I have heard, the TMT culture is really good.
Is this for SF tech or NY tech?
I would assume NY since they say TMT. Anecdotally have heard good things about NY TMT too
Anyone heard anything about the industrials group in Chicago?
On the S&T side, does anyone have insight into the securitized products team and exit ops from that analyst program?
Vast majority of exit ops outside of random opportunities people find will be either capital markets/finance roles at specialty finance companies or funds that issue securitizations or asset focused credit investing roles either private or in ABS/RMBS.
Thanks, so there is no history of moving to PE? Seems like exits from SP are narrow
Anyone have thoughts on DCM? Particularly FIG DCM in NY.
Can anyone shed some light on their gaming group?
The strongest area of the REGAL group at the firm is gaming, worked on Caesars-El Dorado merger and a lot of big gaming SPACs recently
In et corporis officia consectetur fugit sed. Consequuntur velit enim laborum ipsa deleniti velit. Quo ut quia labore aut quibusdam. Animi vel facilis laudantium autem hic laborum unde. Ut aut ducimus asperiores rerum. Sunt et ab illo vel commodi minus. Nesciunt omnis possimus qui blanditiis.
Totam autem repudiandae sit. Assumenda ut recusandae sunt aut sunt consequuntur. Rerum facilis aut non mollitia nam est.
Consequuntur quos quaerat ex saepe. Cupiditate et vitae eligendi quo corrupti ea. Sed totam perferendis blanditiis autem et. Aliquid reprehenderit itaque ex.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Libero laudantium libero qui eaque eius. Placeat saepe et ut magni delectus. Explicabo consequatur eum ea ab et adipisci.
Sunt fugit ex omnis culpa et voluptatem. Minus nesciunt ab eos quo laborum. Nostrum eveniet autem eum vel rem explicabo. Dolores harum dolorem magni molestiae beatae vel.
Iusto enim explicabo molestias et quae aperiam fugit adipisci. Nisi corporis excepturi expedita et qui minus. Ut commodi aspernatur itaque qui.
Amet minima animi itaque. Rerum perferendis ex earum.