Post MBA Associate Lateral: CS/DB/RBC/Piper
I have the opportunity from a lower-tier shop to lateral to 3 of the 4 mentioned shops. For context, I am likely in the game for at least the next 2-3 years.
CS seems unstable but they still are top in the league tables, DB seems like it's on a decent upward trajectory (but haven't raised their associate base), RBC appears to be polarizing on WSO but overall decent, and Piper sounds awful from a culture standpoint but they do well for themselves.
Personally I think CS if you intend on exiting over the next few years (name brand), RBC if you're more interested in being a career banker (more stable platform than the 2 Euro BBs and better comp than at least DB), and Piper if you're interested in a non-NYC office where the other banks don't operate (fine platform and decent presence in some T2 cities most larger banks aren't in).
Tough one but I think Piper is out off the bat. CS is interesting because I think the new(ish) CEO has a penchant for wealth management and maybe the recent issues may have him pulling back on IB, just playing devils advocate here. RBC I don’t know much about. I wouldn’t want to be at DB right now with how the comp is. From an overall league table perspective I’m at a similar firm and from what I know we’re paid more by amounts that matter, especially at this age.
I feel like if I were you I’d have it narrowed to CS/RBC and would weigh the cultures heavily. It’s not necessary for you to go to CS sponsors since you’re not going to be doing PE, just an example but I’m sure you get the point.
What type of firm are you at now? Are you moving over as an associate 3 or vp?
Stifel/Mizuho level firm. I would be coming in as an associate 3.
I would throw out Piper. That seems like a marginal jump to a firm with a shitty culture. Of the four listed, I would personally choose CS without any thought. I actually made a very similar move from a bank of the same tier to a mid-BB and am quite happy with my move.
RBC. Know a few ex-Lehman people who left Barclay's for RBC to reminisce about the old "Lehman type of" culture.
Work at RBC. CS has a better name but has been gutted in TMT. RBC is a very stable bank with a flat to upward trajectory and generally good culture. Think CS makes sense if you get into one of their good groups, RBC makes sense if you're interested in stability and potential longer term growth.
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