How bad is SocGen?
I've heard that SocGen investment banking has no deal flow and has terrible exit opps... is this true?
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Very stodgy/institutional hampered due to French HQ. Balance sheet work helps and I know of a couple of seniors trying to change that but they are at a disadvantage. Well known brand at least (compared to like a Lincoln/BGL, etc) so I'd take over a tiny boutique but well below other European balance sheeters like Barclays or DB in US
As malcaltent said, relies on financing to win mandates. Has rep for well below street pay in London (though I have not been able to confirm myself) and European TMT team focuses on digital infra / Telco financing (with some software M&A).
From what I've seen most people exit to other banks (A2A).
in the US its pretty subpar but i think levfin is pretty good but im not sure if thats outdated or not
Thanks! If you end up at a MM bank like this would you rather re-recruit for a more "prestigious" consulting shop instead?
Honestly wouldn't bucket SocGen with the top MM's like JEF/HL/Baird/Blair, etc. I would imagine across the board those shops are looked at much more favorably given their sheer deal flow and reputation amongst analysts (i.e. being solo staffed and having a lot of responsibility)
I'd try to find anything else tbh
This. comparative to Deloitte’s IB group level imo
bullshit
If it’s your best option than do it for a year and lateral to wherever you’d rather work. It’s enough of a brand name that you’ll have an easier time getting good looks and you’ll learn some things in the meantime. It’s not ideal but it’s a much easier path into the more elite firms than most other options.
Any reviews on the SA program?
Some of these takes are just lazy.
Read the news and understand the market you’re trying to get into instead of recycling decade-old anecdotes.
The U.S. advisory platform was reshaped after the senior UBS hires.
You don’t have to like the model, but ignoring structural changes and then drawing conclusions isn’t insight. It’s just not doing the work.
What were some of the structural changes made?
SocGen is the same as Oppenheimer / BGL / Jones Trading / EY … run
nope. bro this whole forum are filled with austistic idiots. soc gen does well since it has a big balance sheet. a lot of syndicate lending.
no mm shop can touch the syndicate lending of the european and japanese banks god its glorious when you see an actual bank instead of some advisory bs. hur dur want this company
and i mean if you go to europe damn mfer youre a big daddy player now
even most american banks lending platforms struggle in the syndicate world. jpm always partnered with other american banks and by god it struggled and need to rely on regionals to pool.
these european japanese syndicate combos are goated af.
and since these banks are closely tied to polticial axis: ie japan europe usa taiwan which reflects in the bank syndicates that are formed you're going to have a lot of governmental involvement in the non-us banks. which make it awesome for politics if you want something like that down the line.
the us is the only place where it thinks transactions being made public is a good idea, and by god thats a horrible idea. most things are behind closed door and should be that way. peasants dont get to do finance
dcm syndicates are ass too by the way: 20-30 participants for a 500-600mm debt financing that could be covered by 4-5 big daddy banks with god tier balance sheets (this is the result of peasantry and free markets, power and capital should be in the hands of the few not the many)
i really miss aristocratic europe and feudal japan
Congrats on Soc Gen
??? bro if i were at soc gen i would have no clue how jpm syndicates
literally you rn:
so i shld be happy with my smbc/mufg/bnp offer?
ye go mess with some japanese or french chick
hell yeah 🔥
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