Most toxic banks and groups (2023 update)?
Not a new topic but would be good to see where things are now.
I was at sweet green the other day and overheard a couple Moelis analysts say "Moelis?…More like MoleASS!" Tells you a little something about the culture I think
RBC Calgary has entered the chat.
Moelis is the obvious answer. Have heard rough things about evercore across m&a in general from SAs I knew.
idk if it's that obvious. again, need to draw a line between sweaty and toxic. Sweaty = long hours, toxic = MD calling you an asshole in front of whole floor, VP publicly blaming you for mistakes etc. There's obviously some overlap, ie 'D made me work until 4am this entire week for a pitch that isn't until next month' kind of thing but not always 1:1 overlap.
I don't get where the whole "Moelis culture is miles better these days" schtick came from. Yeah culture has definitely softened compared to 3-4 years ago, but Moelis NY is still one of the rougher places. Culture varies by group, but toxic mid-level people and seniors yelling at analysts is definitely still more prevalent at Moelis NY than it is street-wide.
I mean has to be Jefferies no?
at equinox I heard a guy with a jefferies vest say "Jefferies? More like ASSfries" so very possible
BMO Metals & Mining Toronto
Jpm healthcare
Friend of a friend told me some horror stories about that group. They had an associate literally pass out in the office and it’s being swept under the rug. She passed out in December, was taken to the hospital and now nobody knows where she is and leadership said “out of respect for her family” they don’t want to say anything about her condition. I’m sure there was some underlying issue but stress and lack of sleep make any health condition worse and this happened to a senior associate who was being promoted to VP a month later. Tone did not change after this nobody even said hey guys take care of yourselves and push back on unecesary work. Just acted like it never happened. This is the worst example but many other examples of how shitty the culture is.
I was at Blockbuster returning video tapes the other day and overheard a couple Barclays analysts say “Barclays?….. more like BarclASS”. Think that that tells you a little something about the culture
Chicago MM perspective here:
On the other hand, these are groups/banks that I hear aren't terrible:
Moelis is a sweatshop and filled with assholes.
EVR is a sweatshop and filled with valedictorians.
Don't know much about PWP
Most Industrials groups across the street are toxic, as well as every investment bank in Houston
JPM M&A
Can anyone confirm?
Since when do we confirm what Prospects say?
Controversial opinion but William Blair. Love to talk about how good their “culture” is but it’s putting a bow on a turd.
It’s a complete sweat shop, they just laid off a ton of analysts and has gone from sweaty to unbearable. Everyone working until 3am or later, protected Saturdays basically gone (but still touted as a policy). Bonuses also sucked so not worth it at all. They might be the first back in history to exclusively lay off juniors… deal flow / pitching stays the same without the same juniors to support it.
People are somewhat nice still in terms of “you won’t get screamed at in the bullpen”, but the WLB is terrible and people are so angry about how management keeps flexing “culture” as a selling point without doing anything to actually maintain it.
I was on the subway and heard a William Blair analyst say “William Blair? More like William ASS”
Friends don’t let friends work at JPM Houston. GS Houston is also awful.
Jefferies
Nomura Greentech. Barely see friends and family. Lots of pitching and working on deals. Never ending grind.
Every Latam group, particularly if you're a woman
heard horrific things about EVR Houston
JPM Houston
BMO is toxic, rotten, and racist
JEF energy
yes absolutely lol. you dont have time to do simple things like buy groceries or do laundry.
You work 100+ hours a week and you ask if that is sweaty. You are a slave bro.
…Big Brother is watching
The other night I was at Keens for a deal close dinner and overheard a VP from United Bank of Asscheeks say "United Bank of Asscheeks? More like United Bank of Credit Suisse" and I thought that was fucked up
heard jefferies houston is an absolute 1st class trip to nonconsensual gorilla poundtown like real real non consensual