Honest Thoughts on Nomura IBD in 2024....

Couple of Qs:

1. Any insight on if the London office is any better? General impression from the outside in is that it definitely isn't and also isn't doing any deals

2. What are you planning on doing now? Recruiting or returning and seeing if there's a wave of improving fortunes you can ride?

3. Presumably comp reflects the fact there's no revenue generation?

1. I cannot say for sure. My experience with the London office is that the junior and middle management were much more pleasant to work with. They were friendlier and much more thoughtful with their solutions. 
2. I will not come back. I firmly believe I was learning skills and habits that would be detrimental to my career. I am recruiting actively for other IB and potentially buy-side roles. Unfortunately, I think the timeline before there are any improving fortunes is in the magnitude of years. There needs to be a significant overhaul in both senior leadership (MDs) and technology, which takes years to implement. 
3. Yes! There are very deceptive posts about Nomura's comp being high. Bonuses are a function of revenue generation and deal flow. Chris Wilcox is also very focused on cutting unnecessary expenses. Comp was also low this year. The analysts/associates had no tact and made it obvious to all the interns. This leads me to believe bonuses will be subpar (or maybe just calibrated correctly?) for the foreseeable future.

Very insightful. Any idea about their Greentech team?

Bump. Insightful

This is a very helpful rundown of the group. I wish we had more of these on WSO

Did you get a return offer?

Can you please clarify what is an EPP? 

What kind of pay were associates receiving? Understood pay was “low” but was it BofA level low (~$50k bonuses)?