GS vs. MS London

Question

Sitting on a GS FT offer after doing the summer there last year. Just finished an Off Cycle at MS and received the full-time offer. I know what team the offer is for at MS (one of the top teams in London) but team selection for GS has not been finalised yet. This uncertainty is making me consider taking MS over GS, even though GS is still the premier M&A franchise out of EMEA.

Conversely, whilst the MS team I was in was very strong, the culture wasn't exactly premier.

Thoughts? I could do with some advice.

Conversely, whilst the MS team I was in was very strong, the culture wasn't exactly premier.

Thoughts? I could do with some advice.

Global Head of Printing · Accepted Answer

Worked at Citi in a good group which isn't considered "top notch". Liked the team a lot because I felt all of them chose it because of genuine interest. Can echo what Pan European said, as the "top PE exit groups" do attract a certain kind of people. We actually were hanging out in our free-time among analyst/associates.

Some people like that more-than-average competitive PE-exit environment though! However, my takeaway for London was that if you're at an American BB you definitely have a shot at MFs or strong euro funds such as Cinven/EQT/CVC.

Pan European Monkey · Answer

If you look at my answer your bank matters-ish, why is that: well because your experience will drastically vary between banks and better candidates will always take the better bank so it can be used as a screening process. But when an MF is looking to hire someone this is how it goes (I know a partner at an UMM/MF + you speak with HHs once you’re an analyst): The fund sets criterias: usually 1 deal closed, language requirements, US BB + EBs, passed your modeling test quite well or something like this and analyst 1-associate1.

Pan European Monkey · Answer

Speak to GS’s HR and say that you want to be in X/Y/Z coverage - I would give 3 (ie the one you interned in, the one you did at MS and an other one) and try to narrow it down this way.

If you didn’t like the culture at MS no point of forcing yourself into that - MS tends to run leaner teams so longer hours and the culture is more intense than GS which is more friendly from what I’ve seen/experienced. I would also much rather be in the City than in Canary Warf.

Pan European Monkey · Answer

I'll touch on your points: 
1) You don't need to close 20 deals to get looks from PE funds, you usually need 1-2 good deals to talk about and any teams at GS/MS would give you that exposure within a year. 
2) In Europe most funds are generalist or cover multiple industries, only very few require you to cover a specific industry so I would tend to disagree
3) Yes and no - infrastructure (and O&G) modeling, just like FIG is much more complex than EBITDA businesses.

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GS vs. MS London

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GS vs. MS London

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