London offer help. Citi vs BofA vs RS
Would be grateful if some experienced monkeys could help to decided between Citi, BofA and RS IBD SA London.
Exits, Comp, Culture and any other factors of considerstion.
Thank you
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BofA easy.
Have close friends in both BBs. Below is what I think:
Depends a little bit on what you want to do IMO:
1) Citi has a really strong tech, media&comms, industrials (services is especially good), infra, power, FIG (FinTech esp.), CEEMEA and UK M&A team.
2) BofA is very good in EMEA M&A product, healthcare (very, very nice group head in particular), FIG (FinTech and payments esp.) and NatRes.
Also, Citi's processes are driven out of the sector coverage and rarely out of M&A whereas BofA is more "product-driven". I think it's nicer to be in the lead which generally means you hold the model (if you like that).
In my opinion, the exits are a toss-up and I would base it more on:
1) Which team can you get in / do you vibe with?
2) Can you get your "dream" sector and is the bank tops in this industry?
Honestly, if you are really good, you can exit anywhere from both of these names. US BBs in general open up everything and it's entirely up to you and Citi vs. BofA becomes irrelevant as it will be your only experience/skills/languages that will matter. Personally know quite a few who made it to top-notch buy-side seats from both BBs.
RS is less large-cap and more mid-cap/upper mid-cap check sizes. This means more volume but less size. Exits are very good but still fewer doors will open up to you than at a US BB. It's also more UK at heart and less EMEA which is neither a pro nor a con but rather up to your own gusto.
Oh yeah:
Comp is same at both BBs and I think bonus was slighlty higher at RS but that was before comp increase and not sure if RS has raised as well
Lmk of any questions. Happy to give more color.
Edit: added comp and cleaned up a typo
Oh yeah:
Comp is same at both BBs and I think bonus was slighlty higher at RS but that was before comp increase and not sure if RS has raised as well
That’s incredibly helpful thank you! Can I pm you?
If it's not very confidential, please ask it here. I would like to give back to the community and that's best done here.
Otherwise, unhide your username and will PM
I’m probably slow but i’m assuming by RS you mean Rothschild? Then I’d pick between cultural fit between Roth and BAML. Yes BAML cover larger deals but I honestly still wouldn’t say they have substantially better exits to people at Roth
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