At the Associate level, how much does bank brand actually matter? It seems people still gun for MS/GS for the brand and "exit opps" still, but I don't see how they are really any different than MM or RBC/WFC etc. at the Associate level, since the vast majority exit to corp anyways. Some questions I've been pondering: If interested in banking as a long term career, what are the downsides to starting at a MM firm or Wells/RBC tier vs. the top BB names? Does comp start to diverge as you move up? Even if you do exit after 2-3 years, what roles would only the top banks open up for you? Do the best corp dev roles only go to those from top BBs? Or is this just a quest for the mythical fulfillment of prestige still?
Any info from those recently graduated or otherwise in the industry with first-hand knowledge appreciated.
I'm an associate at a MM I would say group plays a huge role, a strong group I would argue is more important than bank name. With that said I've seen exits being more impacted by network than bank for example I've seen a number of EB associates and VPs exit to MM corporates e.g. 1-3 BB EV in manager level roles I've also seen wells guys take some sweet roles. Just network also some people do get PE just at MM or lower MM.
Thanks for the info - much appreciated. Could you elaborate on the diff roles you saw these examples taking?
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