HELP!!Wachovia IB - Citigroup CB

I assume you are talking about Citigroup Corporate Banking. That's a hard choice as they both have somewhat different responsibilties. At Citigroup you will be doing alot of relationship managing/dealing with credit while at Wachovia you will be doing the traditional Investment Banking work. Not sure which offers more exit opportunities/business school though.

I think I'd go with Wachovia.

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I would be working in the New York Office. Sorry for not specifying.

Tough choice, but if I were serious about IB, take Wachovia. It might be less prestigious, but it is still banking afterall. Corporate banking has very limited exit opportunities.

It's pretty much apples and oranges. It depends on what kind of job you want.

Also you should take into consideration internal mobility. If you go into the CB and decide you really want to transfer to IB, it's not terribly difficult. If you do your job really well and make an effort to network with the right people you can make the switch. Just something to consider.

Thanks for the reply Bullish. What kind of opportunities does corporate banking have? My goal is to get into private equity. I know these arn't the greatest positions to reach that, but out of these which would you go for.

Corporate banking pretty much presents a dead end nowadays. Essentially, corporate bankers handles everything else that investment bankers do not cover.

Check out this link for a clearer definition:

http://news.efinancialcareers.com/SECTOR_PROFILE_ITEM/newsItemId-5499

If you are serious about private equity, opt to go into Wachovia's Lev Fin practice. It is pretty decent down there. After a year or two, you can opt to lateral into a bulge and then after, you should be decently positioned to shoot for good PE shops. Good luck!

I've known people from Citi CB that have gone into PE but it's the exception rather than the rule. (HFs seem to be a more viable exit op from CB.) However, there is a CB group that manages its highly leveraged loans and they deal a lot with PE firms. PE exit ops are better out of that group. But overall, if you're concerned about PE go to Wachovia.

I really appreciate all the feedback. Sasquatchhh you mentioned that their is a group that manages its highly leveraged loans that sounds interesting, but I was wondering how this group has contact with the PE funds if they are just looking at the loans that Citi already has. If they do have alot of contact this seems like a very interesting path to take, as I really want to be in New York rather then in Carolina.

I think the group Sasquatchhh is talking about is GPM Portfolio group that manages leveraged portfolio and structured portfolio management. Not sure what the deal with the group is though.

Def Wachovia IB. Wachovia TMT group just finished Blockbuster MySpace merger.