Does anyone have any input on banks in Houston at the moment? I am currently a sophomore who has a couple of offers lined up so trying to get some more input about the industry landscape. Thanks in advance.
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There were some threads on this a few weeks ago. Search for them
https://www.wallstreetoasis.com/forums/state-of-the-houston-ib-scene-20…
^^^ this will be helpful.
Also, we can help more if you give the names of the banks you have offers at.
Appreciate it man.
The ones I'm looking at RN are BofA, EVR, and CS. But also curious about MS and Citi.
I’d take EVR or Citi if you are looking to maximize reps and don’t care about WLB. You’ll get paid more at evercore, but they’ll work you to a pulp.
BofA and MS are less sweaty but still solid shops.
CS used to be elite but they haven’t been as strong recently.
Probably would take MS unless you are down for a sweatier experience.
I would eliminate BofA first. It has a okay culture, okay deal flow, okay pay.
Then I would eliminate CS. Declining deal flow (above BofA but used to be much better - so the downward trend isn’t good), high turnover amongst juniors and seniors, and bad pay.
then I would eliminate MS - good deal flow, whale hunter, average pay.
It should come down to Citi and Evercore. Citi is really strong and has a lot of deal flow, is extremely sweaty and has below average pay. But has really good exits and like I said awesome deal flow. Evercore has great pay (one of the best along with Jefferies) but extremely sweaty and probably the highest junior turnover amongst the shops in Houston (citi is no less, tho). Evercore’s deal flow’s solid but not what it was 2-3 years ago. i think you’ll have to comprise on either pay or relative deal flow between citi and Evercore but they are the best options from the ones you listed.
TL;DR:
Pay: Evercore, MS=BofA=CS, Citi
deal flow: Citi > MS = EVR > CS > BofA
Exits: Citi = EVR > CS = MS > BofA
WLB: BofA > MS > CS > Citi > EVR
let me know if you have questions.
Not quite on topic because I find arbitrary WSO rankings silly, but how do people feel about culture/WLB at various important players.
Heard MOE/EVR have really long hours, with the former having worse culture. Jeff long hours and bad culture but crazy dealflow. TPH bad hours and WLB but pretty decent culture.
BBs heard GS has awful culture, Citi not great but really strong in the space. MS doing okay—recently on some good deals—with decent culture and hours.
All based on talking to people but not a strong statistical measure. Anyone have better info than me?
Heard seniors at EVR are making a serious effort to improve culture after 2nd year analyst class quit. Also apparently current analyst class is tight. Still EVR though, so take it with a grain of salt.
As somebody with great connectivity with this group. Would say that’s a stretch…
Look the group has a great reputation in town, but you’ve got to know what you’re signing up for. Only take a position here if you are 100% willing and able to work at a sweat shop. I wouldn’t say the culture is particularly positive, but you’ll be working with the cream of the crop from an intellectual horsepower perspective.
They’ll compensate you well for it, but many folks jump ship well before their time is up for a reason.
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