Hey fellows -
Just got an opportunity to lateral to a MM IB in NYC and also an internal lateral to my BBs IB division but in Chicago.
The MM IB is a mid market player with a solid group. Think RJ/Stephens/William Blair.
The BB is solid too. Too big to fail.
Wanted to hear pros and cons.
Both are solid.
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Depends on the BB in Chicago. Some pitch (baml) some operate separately from NY (Barclays). I think BB Chi > MM NY
Can you expand on BofA Chicago?
Close call. Make pizza preference the deciding factor.
I don't think any of the MM here has a strong presence in NYC, (seen a couple Stephens NY guys reaching out tho).
I assume the your bank is one of the largest commercial banks. JPM has a very small team where they consistently on calls with NYC banker and sometimes fly to the city. One of Citi's group head is in Chicago and the team focuses on industrials. Don't know about BAML/WF
All the BBs have a Chicago office (maybe no juniors for MS)
I just thought "too big to fail" refers to one of the commercial banks
100% yes take the bb
are you an analyst looking to recruit PE or associate+ looking to stay in banking?
btw what group/division were you in before the internal lateral at your BB? and what city are you in now?
Analyst. Lateralling from a non-ib division, clearly.
Goal is to go to mm pe outside of NY.
which non-ib division was what i meant, clearly
and if PE goal is outside NY then yea take the chicago offer
To each their own, but in my opinion CHI is one of the most shit places I’ve ever visited.
I feel you. That’s the way that I feel about NYC and SF. Absolute shit holes.
I'm from NY and relocated to MIA for the time being. The difference is beyond palpable. I'm so anti-shithole now, I don't know how I would be able to return to any of these places.
Personally if either RJ or Stephens would definitely go with the BB in Chicago. If Blair that would make the decision tough for me. To be honest the only good group I’ve heard of at RJ is tech and they aren’t in NY and I’ve heard Stephens is pretty sweaty. During and post pandemic I don’t think just being in NY has any advantages other than buyside recruiting. But if you’re an experienced lateral staying in banking you kind of missed the boat on that anyways
How would nyc physical location assist in buyside recruiting during and post covid. If everything is virtually done why would location matter
What about other solid tech groups like Mizuho/bmo/Stifel?
Sure I'm missing some.
If this is like Barclays Chicago vs William Blair NY, I would take Blair especially with better exit opportunities and Blair having a better culture.
I seriously doubt it’s WB. Blair doesn’t have much of a presence in NYC outside of a few skeleton coverage teams and some capital markets.
Barclays Chicago is good (one guy went KKR NY another to GTCR) although they focus on levfin. Culture is great from what I heard and hours aren’t long (9-9/10)
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