Morgan Stanley Generalist NY or Goldman Sachs West Region Advisory SF
Currently have 2013 IBD full time offers for the following:
1.Morgan Stanley Generalist pool in New York 2. Goldman Sachs west region advisory in San Francisco
I want to work in a megafund after my first 2 years (would prefer new york). MS isnt assuring me any group yet, ideally I would like one with good modeling experience.
More about me: done 3 internships in banking in the past, wharton with good gpa
What offer would you take?
thanks
Keep in mind that you probably won't get M&A at MS. The summer offer rate was ~50%, partially because of the economy and partially because they are way overstaffed. That said, the prestigious GS TMT is in NYC, and if you want to be in NYC after 2 years of IBD, do your banking stint in NYC. Gun for GPUG and Healthcare at MS.
EDIT: If you really care about modeling, go for the groups that do it internally. GPUG and Mediacomms are the two best in that group, but Real Estate and NRG also do all of their own modeling.
~50% Offer rate to SA's? Even for M&A that seems really low...
I'd go with GS. West region is probably going to be a lot of tech + industrials, both of which are good groups to transfer to megafunds, and if you want to do tech... MS is a bit of a dirty word in that space these days. Basically they dethroned GS who used to dominate the space, shot themselves in the foot, and are going to have some trouble regaining the #1 spot.
Also, West region is (arguably) better to make the move to by side. If you're a buyside firm, you basically set up shop wherever you damn well please, while banks kind of have to keep most of their people in New York because that's where the capital markets action is and however much we like to pretend we're hotshot advisory firms, really we're a bunch of apes that raise capital for the guys who do the real heavy lifting. The result is that when it comes time to recruit, you've got a huge pool of New York analysts fighting for a fixed number of buyside jobs. It's very difficult for the New York kids to recruit on the west coast (you can only have so many root canals) so there's just a much smaller pool of finance kids with clean resumes chasing a similar number of buyside jobs.
Facing a situation similar to this - thoughts?
I'd go with Morgan Stanley generalist program.. nearly all the groups have better exit opp than west region SF
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