Investment Banking in Detroit, MI??
Hi all,
My fiancée recently got a promotion and she will be transferred to Detroit. We both have been living in NYC since we graduated 4 years ago, she works for a big industrial conglomerate while I am an associate at a mid tier BB. Since she is from Michigan and it is a great promotion for her we have both decided to move to Detroit.
Can anyone tell me which are the biggest players and top groups in Detroit? I am willing to take a significant pay cut and work in MM if needed?
Cowen in Birmingham would probably be your #1 target. Pay the most relative to others (street at the analyst level, slightly below the more senior you get, but with the COL adjustment in Detroit you’re better off).
Bit of a drop off but then you have Angle Advisors, PMCF, Finnea Group, Cascade Partners, Amherst Partners, Greenwich Capital Group.
Happy to try and answer anything else
I can't even imagine how hot your gf must be if you're willing to leave a BB associate gig in NY to go to mo town. Detroit, seriously?
Haha I guess it makes it better that they are engaged. He'll live like a king if he can get similar comp in Detroit. "King of D-Town"
Can’t believe this is voted most helpful.
1) They’re engaged.
2) I’m sure that his gf has been there for him during his long hours as an associate, and now that’s she’s got a good promotion and is making the move, he should respond by dumping her? You’re selfish and narcissistic and should just remain single if this is your attitude.
except detroit is a literal shithole (i grew up near there and no amount of money is worth that move)
what does it even mean? is it an accomplishment not to ditch somebody who's making bank while working a lot? that's like a dream for every girl - a guy who is working a lot, so when he's not working he's taking them out and spending a shitton on them. every girl would sign up for that instead of a guy who has all day every day free and is playing video games and watching Netflix all the time.
it's either one of the following:
1) he's just a pussy who won't be able to land a new girl even while being a BB associate in NYC. so he would rather work as a cashier in Detroit (what other jobs do they have?) as long as he can still have access to the only pussy he managed to land in his life and is so afraid to lose.
2) the girlfriend landed a very cushy position and can easily provide for both of them and is willing to do so (i.e. she makes $500k+), and he doesn't need to think about work anymore. in this case it makes sense to chill in Detroit without stress instead of being grilled at BB in NYC.
I don’t know about sellside: buyside wise, I’ve worked with a GP who had the state of Michigan retirement system as one of its LPs (I don’t know the exact name, but it’s basically the state’s pension system). Check them out too.
Ottawa avenue?
Know anything about their comp and culture?
I’m very familiar with the MI banking scene. PM me if you’d like more details.
If you can get a PE or MM IB job out there and have same pay, that would be OP
Also familiar, I can be helpful if needed
From the few days I spent in Detroit this is all I’ve got.
https://www.profitableventure.com/franchise/payday-loan-opportunities/
I thought you were going to at least link something on the level of Detroit Urban Survival Training videos.
Probably a better PE scene versus IB in (metro) Detroit. As mentioned, only IBs of decent size are Cowen, Angle, PMCF and Finnea.
Handful of good sized PE Funds / Groups - Huron, O2, Rockbridge GE, Center Rock, Peninsula, Lorient, TRP, plus a long tail of 3/4 man shops. Best of luck, having moved to Detroit from out of town it really is a cool up and coming city. Tons of country clubs to join to meet people if you're into that.
Any insight into comp at those pe shops
Finding a WFH gig may be a better bet
here's the right answer
Yeah there’s Blood Stanley and Crip Sachs.
Only two real banks in the city, always fighting for top spot on the league tables.
Below NYC comp.
Bonus? Staying alive for another year tick
Yeah there’s Blood Stanley and Crip Sachs.
Only two real banks in the city, always fighting for top spot on the league tables.
Below NYC comp.
Bonus? Staying alive for another year ✅
If I were you, I would start having children and become a stay at home dad
Start looking for corp dev gigs that are fully remote.
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