EB M&A or BB Capital Markets
For summer analyst role in London. Choosing between EB in London (PJT/Roth/Laz) and mid-tier BB (Citi/BofA)
Unsure about long term career path, but currently thinking about pursuing career banker route. Converting to FT is an important factor here too. Thoughts on each would be appreciated.
For ur info conversions are:
PJT - 75-80%
Roths/Laz - 50-60%
BofA - 85-90%+
Citi - unsure but think high
If it was PJT then they're a no brainer, if it isn't and you're not deadset on maximising PE exits I'd consider the BBs
No brainer for any of the EB's if you are deadset on maximising for pe exits, not just PJT. Tired of these circle-jerking LSE interns trying to carve out different tiers of exits on an annual basis, based on where they and their friends are interning. For distressed shit, yes PJT/HL/RTH obviously are in a tier of their own given their rx practice. For everything else, it is as simple as GS/MS/JPM as first priority and the leftover seats are filled with whoever the best candidates are from the rest of the BBs and EBs. And in terms of groups, priority 1 is all coverage groups, priority 2 is Some product groups such as m&a, rx and levfin (almost only jpm/db/bofa/gs).
To OP, in all honesty you sound like someone who is uncertain, so just choose the BB Cap markets SA. You dont seem to care about exits, the mid tier BBs have high conversion rates and you want a long career in banking which is more feasible with dcm/ecm hours.
If you weren't so angry about landing a low tier EB you would've understood that I was comparing based on conversion rates I.e. a huge difference between 50% and 80% if you're not a superstar intern.
Pay + culture also better at PJT, which along with conversion rates and unbeatable distressed/credit opps, is why it is the no brainer.
Lmao
Kid I am quite literally 6+ years older than you at a UMM/MF, believe it or not, but most people tend to stop glazing their banks when they have left over 2 years ago. FWIW, I was at Barclays/DB/UBS anyways. wtf is a 'low tier' EB anyways lmao either you are an 'Elite' boutique or not.
I agree with this at least, so let's just end this conversation here
Yes, if you are a European MSc Finance student with 3+ IB internships already you are clearly going to perform better than 19 year old UK BSc History undergrads so I would back myself to convert in that case.
Good for you. Not sure why you have the time to get so angry. Either way PJT/EVR exits are obviously better than GHL/Moelis etc. And congrats on the UMM.
Thanks. That was the entire original point I was making.
Career banker, go for CM at Citi/BofA. Both have high return offers.
Go for M&A at EB to have wider skillset and more optionality if you change your mind.
Citi/BofA both have good internal movement in case you change your mind after the internship.
I feel like most people didn't actually read your post fully before blindly recommending the EB lol
PJT/Roth/Laz > Citi/Bofa and M&A > Cap Markets for exit opps easy choice here
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