Hello All - I wanted to hear everyone’s thoughts on where CS stands as of now with everything that has happened with Archegos. And interested on hearing if you had an offer for SA CS NY would you take that over another BB Offer(thinking JPM, BAML, citi, Barcap) but in their regional offices(LA,SF)? Thanks.
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At this point, I think any current analysts at CS are still in a great position and will still enjoy the historical quality of dealflow and PE exits, but any prospects should consider longer-term trajectory of CS.
If I were a sophomore or below choosing for Summer 2022+, I would choose, roughly, as following:
Take over CS: GS, MS, JP, BofA, Citi, Barclays, any EB (or top sector-focused boutiques like LionTree, Qatalyst, etc.)
Would not take over CS: RBC, Jeff, UBS, DB, or below
Unsure (aka depends on the next 12-18 months): Guggenheim, Greenhill
Thanks for the response! Would you even pick a group in all the other BB's that you listed over CS if your offer was for the west coast over CS NY?
Depends. Big difference between CS LA and SF.
Would you take Jeff over DB or UBS?
As always with these comparisons of closely competing banks there is a single answer: group dependent
dang.
dang.
It also depends on the team you get to join. One might choose CS Financial Sponsors over, say, Citi ECM. But I agree more or less with the above, assuming you do not know which team you will join.
I work at CS in nyc now as an ASO1, and the turnover at the bank has been shocking. Multiple groups have lost multiple MD's and group heads. If you're a current analyst looking to pivot after a year or 2 it doesn't make sense to leave now - but it's not a good place to start a longer career (for now). Morale is in the crapper as we're seeing teammates leaving to other banks at rates much higher than usual attrition (there's no real word on our bonuses this year which could all be garbage).
Just one guy's 2 cents. That said, everywhere else would be group dependent. If you're lateraling in, ask yourself why xyz group has so many openings.
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