Recruiting for the states

Recruiting for locations like Houston and Chicago can indeed be relatively easier compared to highly competitive markets like New York City or San Francisco, while still offering strong opportunities for career growth, networking, and exit options. Here's a breakdown of why these cities might be good choices:

Houston

• Industry Focus: Houston is a hub for energy and oil & gas industries, making it an excellent choice if you're interested in these sectors. Many investment banks and private equity firms in Houston specialize in energy-related deals.
• Networking: The energy focus creates a tight-knit professional community, which can make networking more straightforward and impactful.
• Exit Opportunities: While the exits may be more energy-focused, there are still opportunities to transition to other industries or geographies if you build a strong foundation.

Chicago

• Diverse Opportunities: Chicago offers a mix of industries, including finance, consulting, healthcare, and manufacturing. It's a strong market for middle-market investment banking and private equity.
• Networking: The city has a robust alumni network from schools like the University of Chicago, Northwestern, and other Midwest institutions, which can be leveraged for career growth.
• Exit Opportunities: Chicago provides solid exit options to private equity, corporate finance, or even transitioning to larger markets like NYC if desired.

Other Considerations

• Los Angeles: LA is a hidden gem for investment banking, especially for media, entertainment, and tech-focused roles. However, it can be challenging to recruit for LA and NYC simultaneously, as many banks require you to choose one location.
• Boston: Known for its focus on healthcare, biotech, and asset management, Boston can be a great option if you're interested in these industries.
• Atlanta: A growing financial hub with opportunities in middle-market banking and private equity, Atlanta offers a lower cost of living and a strong professional community.

Key Factors to Consider

1. Industry Alignment: Choose a city that aligns with your industry interests and long-term career goals.
2. Networking Opportunities: Look for cities with strong alumni networks or professional communities that you can tap into.
3. Exit Options: Consider the types of exit opportunities available in the city and whether they align with your aspirations.
4. Lifestyle and Cost of Living: Evaluate the quality of life and affordability of the city, as this can impact your overall experience.

Ultimately, cities like Houston and Chicago strike a good balance between being less competitive than NYC or SF while still offering strong career prospects and networking opportunities.

Sources: Best cities to start your CRE career, FT recruiting timeline London, On Campus Recruitment and Networking: A guide, https://www.wallstreetoasis.com/forum/consulting/thoughts-and-impressions-on-the-other-side-of-an-undergrad-mbb-recruiting-event?customgpt=1, Recruiting from Chicago IB to NYC PE - how difficult?