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Barclays imo
CS has top groups that out perform all benchmarks, they also have shitty ones though. IMO CS > Barclays any time of the day. Better brand name recognition, higher compensation and better exit opportunities
This guy has it 100% spot on. How do I know to trust him? Its his credentials: PEIntern is an incoming SA at CS, making him fully qualified to discuss how CS groups "out perform all benchmarks" and has "Better brand name recognition, higher compensation and better exit opportunities." Listen to this guy, he knows what he is talking about!
You do understand what an opinion is right?
Fuck off
Not a huge difference but given the difference in trajectories I would go to Barclays.
CS has/had top groups but after departures lost some key people. Barclays always has fantastic top 2-3 on street groups and isn’t rapidly pulling capital away from the investment bank so would go there
Are the departures affecting day-to-day at Credit Suisse
Yeah dude depending on the group there’s been a huge outflow of MDs. Also it doesn’t make headlines but also have lost a ton of Aso, VP, Dir which hurts groups a lot behind the scenes.
The bank re-org was pretty favorable really only nailing down on prime services with IB largely intact and only small capital outflows from US IB, so no huge effects there it’s really the MD departures.
rehiring has began which will be a good signal about future trajectory. Some groups have made very strong hires (healthcare hired Lazard and cvp MDs) but other groups have reached downstream and hired from MM or non-BB platforms (e.g. BMO, RBC)
They are comparable. In the past it was clear CS>Barc but with recent trends the gap has certainly narrowed.
That said, CS has a few top groups that place into PE pretty much better than any Barclays groups but also has some really bad groups.
The notable thing about Barclays is that it does it’s modeling in its industry coverage groups so it’s disparity in the level of its groups is not as big as CS’s
As far as PE placements, Barclays had one year where it placed surprisingly well but overall CS has better placements in part due to its historical prowess and in part due to its stronger groups.
But it is no secret that the bank has been on the down the past few years and the Archaegos scandal didn’t help with many rain makers leaving.
This should not be a huge problem in the short term but it is could be if you are looking at CS long term. However even in the long term Barclays is known to pay its seniors a bit less than other banks
Overall both are pretty comparable. If you are looking for analyst comp they are the same. For exits if u can land a too group at CS then I would take it and if you are going into a regular industry coverage group I would consider Barclays. Both are said to be good for culture but Barclays maybe edges it in terms of better culture
What can you speak to culture at Barclays vs CS?
It’s kind of a cliche that the European BBs (at least historically) had a bit better culture than their American counterparts. That isn’t 100% true all the time (UBS has been getting sweatier for example).
However, if you look at most threads on here about culture, both banks have been praised in the past but Barclays more so. As far as the BBs, Barclays is on of the banks that gets the most praise for its culture alongside JPM (with the exception of a few sweaty groups like FIG and the like). CS has been touted to have good culture in the past but obviously with everything going on, there has been departures and news that obviously affect morale
Barclays for sure. They're an underrated bank stateside for some reason. Might've been a different story a year or two ago but there's been a pretty heavy outflow of seniors at CS.
Which is better for West coast Tech? I assume Barclays because a lot of heavy-hitting seniors from CS left
CS historically been strongest of mid tier BBs in SF but you’re right lost a lot of key seniors. But Barclays Menlo never had key seniors to begin with
Mark Zanoli is not a key senior?
What about NYC Tech at both? I know barclays splits tech and m&t
CS splits T and MT as well. After Archegos departures the tech group at CS is basically run out of NY, smaller team left in SF now with low deal flow
Depends on what you’re interested in. CS is a very strong credit shop. So Lev fin, Sponsors, Securitized Products are their top groups. If you’re more interested in M&A Barc is probably going to have better groups. Barclays does also have a very top DCM franchise.
Agree although will note that CS has an actual M&A group (which is one of the better groups at the banks) while Barclays does not so if you are going for pure M&A and can secure placement in the M&A group then thats ideal but if not as you mentioned, in the industry groups your M&A exposure will be better at Barclays since inherently having an M&A group means less of the in house modeling for the coverage groups at CS
In house modeling is good for the experience but can also be worst of both worlds on M&A deals cause you have to do all the dumb admin stuff like WGL and data room requests/management in addition to actually modeling
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