LONDON - LAZ v BAML v BarCap (Exploding offers, need advice)

Hi everyone,

Have SA offers for each of these in London, Laz will be a random industry team, BAML is a generalist pool with bits of work from different industries (stick with one you click with, have met and really liked HC, could try to swing joining) and Barc is UK M&A.

Most threads here focus on US recruiting - wondering if anyone could shed some insight on which would edge it out in the UK?




You gotta back that up, unless it was a joke.

Its an EB vs. BB debate if anything. Personally I'd go Laz (based of very little other than preftige and Mayfair > St Pauls).

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper

Lazard or BAML. It's not the best time to join a European full-service bank, so I would definitely drop BARC off that list.

You can't really go wrong with LAZ and BAML but I would prefer LAZ for EB vs. BB reasons. It's a good time right now to join a EB, especially if it is a player like LAZ. Also, LAZ's location near Green Park is really nice. However, as I said before, BAML is top notch in London as well.

Nice problem to have, congrats.

Forget Barc.

Both shops are good. Lazard's rep as a sweatshop still holds up and the random industry team might not work out in your favour. College alum I know burnt out really badly after 18 months and left but is now at Wharton so speaks for itself. That being said, still has a great reputation and will make you competitive for buyside gigs.

BAML's generalist pool works well as you can rotate between four or five teams in a summer and really get a feel for who you like. The clicking thing is big from what I've heard. A lot of groups have their own sub culture. Some are more foreign language speakers than native english speakers but you can figure out where you fit. For example, a public school and oxbridge type might make you a shoe in for the UK coverage team.

My two cents, think about it from a full time analyst perspective. Random industry group vs the group you want. Whichever place can give you that, go for it.

Here are some considerations: (1) 2014 to date, M&A deal value and average deal value for BAML is higher fewer, larger deals => your experience may be limited in terms of number of deals you've been exposed toLaz numerous, smaller deals => higher probability to have a more diverse experience (2) opportunity to rotate industry teams at BAML is very important, as it would enable to assess your preference for the longer-term

A huge thanks to all of you for helping with the decision process. Impression I've been given is that LAZ allow a fair bit of choice in FT group, and movement between groups is common.

Is anyone familiar with the process able to shed some light on the perks of a huge analyst class at a BB and training in NY with all of them compared to the EB home-office training and tiny analyst class? Is it important for establishing your network/will an EB be a drawback here?

I don't think Laz has a small analyst class by any stretch of the imagination, we're not talking about Greenhill here. For example Roths has one of the biggest M&A groups in London, doesn't have to be BB to be big.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
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