Is Baird done or finished
Is Baird done or finished - after the WSJ article
1) who would want to do business with them
2) who would want to work there
3) they will lose share to other MMs because - who wants to do business with a place that sucks this much
idk maybe im the old guy - looking at this like its such a joke and the way the Baird managers treat their employees is ridiculous
and like from all the reading - its not like these kids are getting paid - they are sorta making chee chee beans all in when you look vs other roles
i guess the other thing is - this isnt jp morgan / gs / ms - no has to do business with Baird
they arent going to get cut out of other business if they dont do it with Baird - its basically bottom of the barrel
Think you are vastly overestimating the likelihood of a founder/owner of a middle market manufacturing company reading this article. Even if they did, 50% chance they read it and think - wow, I can have bankers working until 5am for me!
On the hiring side, there is an endless supply of undergraduates that would clamber at the feet of Mike Lindemann for even a chance of receiving an offer.
True… IB recruits too many non-target goobers these days who grovel at the feet of the MDs to secure an offer. This ruins WLB and wages for everyone.
Bring back the good old days when only people in the know at targets got looks.
You are the biggest goober of them all, thinking that going to a "target" makes you better in any way. Congrats, you got a place there for being whatever, you made it through the intransparent process of admissions. You are so so much smarter than your competitors who are the wrong color or grew up with the wrong socio-economic status.
Realistically this is the latest article in a string of many since COVID and even before. It's not like Baird is unusually cruel or a massive cultural outlier when compared to other banks on the street.
Think the takeaway is about IB in general, not specific to any one bank (since they've pretty much all had mini-scandals like this over the years... deaths at Jefferies, BofA (x2), William Blair plus GS junior banker rebellion that went viral during covid
check out the Baird thread if you think they're not unusually cruel or a cultural outlier....it's fucking crazy
It’s definitely not much of an outlier for sure. William Blair, Jefferies, HL all function very similarly. Maybe not all VP have gambling problem but to each of their own.
but - bofa / gs are global banks with a real balance sheet, even jefferies has some capabilities
william blair just looks like a 5th tier warm-ish body
Bump, just read this WSJ article too and immediately went to WSO
Imagine working your analysts to the bone to only close 23 deals last year….as such a big group
Imagine grinding this hard for MM dogshit industrials deals
No bs - coming from a UMM fund that gives Baird a mandate a year, I was talking to my MD about this and he mentioned we might as well give the mandates to Lincoln and avoid the bad PR. I definitely will when I’m an MD
Lincoln isn’t too much better FWIW
They don’t have any WSJ articles about them being a modern day sweatshop that abuses 22-24 year old kids though
Like what is bairds edge - we work our analysts into the ground
Idk it doesn’t feel like it’s worth it to do business with them
Idk BofA just k*lled an army vet and father, but they seem to be doing fine...
These articles are a bit of a nuisance to the firm in the short term, but ultimately nothing comes of it. BofA literally killed a decorated military vet and their stock price barely moved. They did lose some share in IB over the past year, but I’d argue that was because of the bank’s own stupidity vs the reputational hit they took. We’ll see what happens with Baird.
But for most big corporations / institutional investors you have to do business with BofA
You don’t need to do business with Baird
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