Investment Banking: Brand vs Group Strength
I used the search function but couldn't find threads with pretty clear/updated points about this topic. Long story short, I was very fortunate to have received two IB SA offers in NY—one with a top US BB (JPM/MS/GS) and another one with a leading Canadian bank (TD/RBC/BMO).
While I was placed in a borderline average performing group at the US BB, I got an offer from a top group within the Canadian bank, with solid performance and deal activity with US and Canadian megafunds. Honestly, as a sophomore, it's pretty hard to have a clear picture of where I see myself in some years, but I'm strongly considering recruiting for Private Equity afterward. I would greatly appreciate some additional thoughts and opinions on what matters in the end, given the circumstances.
I think it depends on what you want to do down the road. Do you want to stay in banking? If so, quality of reps and individual experience (group dependent) are going to matter significantly. If exiting industry entirely, reputation of your shop overall might be more helpful for signaling purposes.
Go with top BB as long as the group is coverage / a good product group. I guarantee an average coverage group at GS will have better average outcomes than the best group at TD
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