What are the most toxic groups in 2025. Talking about groups where people grind until 5am every other day and still gets reprimanded if they get in at 9:02am.
Honorable mentions:
MS Menlo
MS London (all industry groups)
EVR NY Tech/Industrials/Energy Transition
Moelis HCS
BMO M&M
JPM M&C/HC
Every group in Calgary
Every group at Jefferies across all geos
| +439 | Is UBS really that bad? | 81 | 8h |
| +283 | Which Offer to Accept: UBS Analyst Role or Part Time Cashier at the Local Taco Bell | 34 | 8h |
| +249 | Another $115bn Mega deal for these banks. Congrats! | 48 | 3h |
| +134 | Roku-Fox Deal - UBS Misses Out on yet another deals after years chasing this deal | 21 | 4h |
| +114 | Useless associates | 26 | 17h |
| +90 | AI is insane | 26 | 4h |
| +87 | Differences in Restructuring Teams? | 25 | 17h |
| +86 | Is Houston SA 28 recruiting already over? | 41 | 9h |
| +86 | TPH V.S. Mizuho [HOU] | 15 | 3h |
| +80 | Shame on you Evercore - SA 28 | 22 | 4h |
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EVR PCA
Yup
Any stories?
Can u elaborate?
Obviously they work hard but thought they were known for their good culture
Why?
Accurate (I work in pca)
gugg HCS
GS FIG NY
Which vertical?
all of them, but FTAM is known to be a shitshow
JPM, GS and Evercore Houston
add Moelis Houston to the list of Houston sweatshops
Didnt get the sense that they were toxic despite the sweatiness
Jeffries and Citi Houston
GS HC NY
is gs hc in SF and LA equally bad?
HC west coast takes like 2 summer analysts a year
Can anyone share stories or detailed insights about MS London, and possibly which group?
know a guy that worked within tech and he said during his analyst years he was constantly pulling 100hr weeks
In industrials a lot of hardcore Germans who are not social. there is also an MS French holiday with all the French employees based there. Knowledge as of 2 years ago
What groups at GS are the sweatiest?
GS FIG is pretty horrid to be fair
If you think FIG is bad - Industrials is 10x worse
HC Industrials way worse
GS industrials >
Piper Consumer Charlotte
Can you elaborate? First time hearing something less than positive
Huh? This is well known within Piper outside of CLT. Like most first years would leave within 1.5 years. Heard most protected Saturday not enforced vs other offices. VPs and Associates also extremely toxic and entitled. More hours, same pay and shittier exit compared to other offices
What’s up with this JPM M&C slander
Bump
Well, it is toxic at every single place that people consider 'good'. Do you want DB FIG with good culture over Lazard P&U which should be very sweaty?
Not sure I agree. CVP, Q, PJT RSSG, GS TMT, and a good chunk of EVR M&A are not toxic
Do your hw and you’ll learn that DB FIG is doing really well
Congrats on DB FIG!
Jefferies all of it or BOFA FIG.
In light of the recent thread… BMO M&M. That group can’t escape the bad press.
Yes, it’s as toxic as they say.
Hey could you please PM me?
Hello can you please PM me? Have a quick Q I'd like to ask off thread
Wells Fargo TMT. It wouldn’t make sense by looking at the stats but it is up there with the worst.
It's that bad?
Yes
What stands out to me is that the majority of the toxicity comes from MDs, reason to identify groups and regions—except for Jefferies.
The toxicity in Jefferies is deeply ingrained and exists regardless of location or team; it’s simply part of the firm’s culture.
They are disrespectful even during interviews (no matter level) - Horrible
I had to laugh at your last line.
A few years ago I had a lev fin interview, and even the HR screener person insulted me lol.
I was so shocked after that day of interviews.
mind elaborating on what they said/did?
Is there Calgary lore I don't know about?
RBC and CIBC are toxic central
Both pay and culture at Scotia are poop
Everywhere in calgary is stupid toxic and sweaty - except for scotia but they don’t do anything
is JPM healthcare still sweaty??
Can't get more toxic than MS Menlo. Absolute worst hours on the street, toxic culture and the staffer even takes attendance every morning.
This was the case at Gugg Menlo also before the group moved to Jeff SF
Moelis NY tech M&A and CSA are all at least as sweaty as HCS
But the seniors don’t scream at juniors tho
Also think that the forum could benefit from understanding that toxic and sweaty are not the same thing.
How’s tech Boston?
Can someone elaborate on the culture in Moelis HCS?
Baird Industrials
Vaquero Capital
Houlihan A&D LA
Gotten any better? Heard they got rid of a bunch of the bad apples.
They canned one of their VPs who was apparently a total psychopath. Not sure know how toxic it still is
DB NY Industrials
False. It’s sweaty but not toxic
Not sure if he’s still there, but heard a story about an MD there that bit his analyst’s ear off Mike Tyson style
Was either in industrials or sponsors can’t remember
Keep sipping that Kool-Aid
Most groups at Scotia Toronto with the exception of M&A and diversified are shitholes filled with nerds that will never get laid, can say the same about most groups at BMO Toronto with the exception of tech and diversified
.
congrats on national
Lazard Benelux, one of the biggest sweatshop in Europe. Culture and people are ok-ish but no limits.
So 48 hours per week?
In this part of Europe, don't they riot over those kind of hours?
IB in France is no joke in terms of hours. you can kiss the relaxed stereotype goodbye.
80–100 hours per week. And that’s as an intern, with at least some degree of weekend protection. I’ve seen analysts pulling 100–110 hours consistently over 4–6 week stretches. Welcome to “socialist” continental Europe.
ahahaha so real
heard the worst apple left though
JPM FIG, toxic as hell
Had an alum in this group repeatedly ask me if I actually wanted to go into IB, poor guy looked dead
Avoid at all costs. Some verticals are slightly better overall it's all really bad
Can confirm
Any insight into M&C at JPM, will be joining the group soon as AN1
u lateral?
Shit people there, from mid to seniors
Moelis tech should be in this discussion IYKYK
which loc?
SF and NY
DB Industrials (LDN office)
BMO and CIBC Mining in Toronto
RBC FIG. Inhumane hours despite not much flow and abusive mid-levels and seniors. It's so bad that most interns who get a return offer choose to lateral or switch groups.
london or ny?
NY. Hell on earth. Avoid
Worst group on the street tbh
TD Securities NYC IB. Tons of layoffs
When did it happen?
Several threads on this topic. Use search function
EVR RX?
I have worked with them and while they work very hard (to be expected in Rx), they were all very pleasant people and seemed to get along.
Moelis tech ny and sf
Surprised MS M&A and MS FIG don't get mentioned more
Can you give me more clarity on MS FIG
have had convos with group A2s in London but I'm not sure of their vibe
US mid levels / seniors extremely toxic and demanding
Moelis tech is incredibly toxic
The former SVB guys?
baird industrials, ubs tmt
I heard BMO M&A in Toronto is toxic now, anyone know anything?
WORST LONDON TEAMS?
MS (all of them ofc)
JPM M&C
Who else?
can you share more about MS please
What about GS Industrials (LDN)?
Arma Partners is toxic throughout
bump
TD FIG should be mentioned. Horrific.
JPM WM
Why so bad? People or hours?
Hours. I’d rather be poor
BMO Metals & Mining
JPM FIG
From what i have heard JPM HC is better or some verticals
How is RBC M&A? That group was notorious, everyone would lateral out within a year
Def not worse than power or real estate
M&A turnover is more so based on hours from what I've heard. Power and RE on the other hand are a different case although the former's culture isn't as bad as the latter with FIG taking the cake
TD DIG as well
RBC FIG (NYC) takes the cake
Total toxic shithole and no idea why anyone in their right mind would ever go there
UBS has a lot of toxic groups (TMT, M&A, Healthcare, FIG, RELL, M&T)
Most of UBS
US only?
Always had the feeling that its quiet okay in Europe compared to some other places.
UBS FIG is toxic as hell
have heard UBS M&A quite toxic
Moelis tech is atrociously toxic across all offices due to every deal team being cross staffed, but the Boston Moelis tech team is extremely toxic and political.
could you expand on whats toxic? seniors demanding too much? political? curious to hear
Is it due to the SVB mafia coming over?
Evercore and GS Houston 100%
Care to comment why? I find people will say somewhere is toxic but when you get reasoning you find out it’s the person not the team
GS FIG, super toxic culture
lol
PJT MIO
MIO?
PJT operates in a pod structure, Media, Industrials, O&G. Toxicity revolves around the m
What about that bank with the anchorage office…heard it’s sweaty there
Jefferies industrials
BofA - most run-rate hospitalizations
Jeff - Toxic af
UBS - disorganized af
CIBC Mining
Well monkeys, if we combine the sweatiest individual attributes of an investment bank, we’d come up with the following:
Firm: Jefferies (duh)
Location: Houston (for obvious reasons)
Industry/Product: Energy (specifically Oil & Gas)
Annddd, that’s an actual group, and a well documented sweatshop at that.
If there’s a “winner” here, it’s JEF HOU O&G. It’s on a whole different level folks. We should collectively pour one out for any poor soul who Spindletops their way there.
Also doesn’t help they get paid street bonuses (median band of $40-55k) for logging 99th percentile hours and workload
somehow getting paid average bonuses despite being arguably top in energy
Disagree. Tech always has the worst hours and the least interesting work imo - feels like a marketing job. P&U, if you get the modelling, and can teach well, you’ll be eventually okay. Very rewarding as well as it’s a small (not so dynamic) world.
How’s the culture and pay at Japanese banks like Nomura, Mizuho, smbc?
What’s up with all the JPM M&C slander? Thinking of lateraling… anything to know before walking into a 💩 storm???
Enter with caution. The environment has materially affected people in negative ways. Recent positive commentary largely reflects efforts by the M&C WSO committee assigned to repair a culture that had deteriorated significantly. Roommates analyst class back in 2022 had 8/10 quit in the first year.
RBC Energy in Calgary
BMO Energy
Moelis SF Tech. Heard 0/10 analysts who started a couple of years ago fully completed their analyst stint. Around half fired and half leaving voluntarily. Very political and cutthroat.
Is no one going to mention Agentis?
Not a real firm buddy
PWP Industrials / HC / C&R
Toxic.
Thats like the whole firm
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