Hello,
I am having trouble making a decision with regards to several internship offers for next summer. I am deciding between BAML Equity Research, MUFG IBD and Cantor Fitzgerald Capital Markets. I definitely see myself much better suited towards Investment Banking and longterm would like to do private equity. However, I feel like there is a large advantage to having the Bank of America name. What are your thoughts on the opportunities from MUFG, and possibly about the ability to lateral somewhere larger. I couldn't really find too much information about the way MUFG IBD is viewed on the street so if anybody has any knowledge of the subject, it owuld be much appreciated. thanks!
when did you get your Cantor Fitzgerald offer? Haven't heard back from them yet.
They came to my school last week, went to New York this week and found out.
The biggest thing you should be taking into account isn't how the brand of your bank will move your resume but how the work you do will prepare you for your future role. Moving from ER to PE is not a typical move, so while you are at BAML it might be harder to make that move because of your role than coming from a "lesser" bank with more applicable experience (IBD first, Cap Markets 2nd). I don't know much about MUFG but getting into PE has been more and more difficult so if that is your goal from there you may have to lateral to more prestigous banks to get good looks from headhunters. Hope this helps
BAML equity research can lead to buy-side research and eventually PM, and Cantor CM is a bit more specialized with fewer exit opps… I would personally take the IBD offer and lateral after a year or two if you’re set on PE.
You could take BAML, then try to move somewhere else for IB full-time. I feel like if you have a good story for why IB over research, you'll have a better chance at a BB than Cantor or MUFG
When I sat down to get interviewed by CF, the first question they asked was if I was more interested in IB than Capital Markets given my resume. I thought this was strange because I had never mentioned any of this to them. Do you think it is worth inquiring now whether I can be considered for IB for them? Would CF IB be preferable to MUFG? And also, what are your thoughts about taking BAML ER and trying to lateral to BAML IB after the summer? Thank you again
negatives I see - would avoid MUFG IBD unless you don't mind being associated with second tier players on the tombstones. It's harder to be a Japanese bank and a Lead arranger just like it's hard to be an American bank in Japan and a Lead Arranger. With BAML, would consider how hard it might be to get out of research if you don't want to get pigeonholed in that area. I personally would go with Cantor Fitzgerald if the Capital Markets opportunity involves a direct link into actually doing the business and not just the research to support the business people. Good luck. Final advice - Don't stick around NYC for too long unless you are making a killing. There's a helluva lot more to life than Central Park and the Hamptons. Think - am I going to find my spouse here? Where am I going to buy property? I left 8 years ago and have never missed a single day !!!
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BAML is a far better ibank,
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