Investment Banking Associate Mega-thread

This board is filled with information regarding analyst recruiting and exit ops. I wanted to start this thread to gather information regarding associate recruiting. I am currently in Bschool and plan to recruit for IB this fall. For someone who wants to be a career banker, would you recommend BB, MM or EB? Which banks are best for:

  1. career progression
  2. pay
  3. hours
9 Comments
 

Can anyone share their experience moving from an associate in corporate finance to an associate in an investment bank?

I'm considering taking the MBA in a year or two and switching after that.

 
Most Helpful

There are too many variables here to give a valid response. Are you looking to grind your entire career and strictly focus on M&A? Go with EB / Upper MM. If you are looking for better work/life balance and the ability to move within groups? Go BB. If you are looking to primarily work on sponsor-backed MM deals? Go MM.

Pay / # of hours: EB > Upper MM (JEF, Blair, Baird, HL) = BB > MM. Career progression highly depends on what you actually want to do.

 

Two scenarios for you then, keeping in mind that the first scenario is by no means a given:

  1. If your post-MBA banking goal is to eventually (doesn't need to be 2 or 3 years) transition to a PE role as an associate (senior associate, maybe?), are there any particular banks (MM because of less rigid structure, BB because of network/connections, EB because of brand name, etc.) that you're better off targeting(read: easier) than others?

  2. If the first option doesn't pan out, and your new goal becomes maximizing $/Hr and upward mobility, which grouping would be better then? My inclination is to say EB because they typically pay more, but I also feel like hierarchically they are more difficult to climb due to sheer lack of available seats above you.

EDIT: Let's hold group constant for the sake of the thought, call it a reputable M&A desk for all three groupings.

 

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