Return to BAML for junior SA offer or accept GS offer?
Did sophomore SA at BAML in one of M&A/FSG/LevFin and was able to get an offer at GS industrials. That's all I'm saying to protect my privacy.
I really liked the team at BAML, and I wasn't able to get a good feel at GS from the interactions I had. They were nothing special. I am not sure if I want to exit to PE or do A2A. Both options are equally appealing to me at this point.
I'm leaning toward taking the BAML return, but I can't help but feel strange since the alternative is Goldman fucking Sachs. Anybody know what the conversion rate fro GS Ind is?
Not sure if this is possible at BBs, I know someone who did it at smaller boutiques but it’s worth a shot.
Explain to your team at BAML that you really enjoyed the summer and see yourself working with the group in the long run, but explain that you want to just get a different experience the next summer. Then work at GS the next summer and see if BAML would be able to fast track you for FT recruiting if you don’t like GS (or don’t get a return). Best of both worlds because you then get to try out both groups and see what you like best. If the people at BAML like you, it’s likely they could put you on a short list for FT recruiting and you can land that offer.
Lol thats not going to happen
Objectively bad advice, suggest you delete. Banks don’t negotiate like this with interns. If OP said this to his team they would show him the door immediately.
BAML. Being a summer in the same group for 2 years in a row is special, especially in a top group at BAML which you are. You'll build strong relationships and trust because of that
Stick with BAML. This is how I would think about it:
Past a certain level of prestige--which a top group at BAML certainly exceeds--you will get opportunities from HH's at every PE firm you want. There will be no tangible difference b/w PE opportunities between a top group at BAML vs. GS IND.
Contrary to what others have posted above, your relationships from this summer should help you immensely moving forward into next summer and into FT. If you did a good job during SA, chances are the senior bankers will remember you and "take care" of you moving forward (staffed on better deals, better bonuses come FT should you choose to return, etc.). Compare this to what could potentially happen at GS. You said yourself you have no real feel of the culture of the group, so you'd be gambling.
Lastly, I know nothing about your candidate profile, but suspect that you can land a better offer than GS Ind. should you choose to switch banks FT. Going from a top BAML group into an EB/top group at BB should be doable for someone with your experience (BB as a sophomore). Have seen plenty of undergrads with similar profiles eventually land at top, top groups after graduation.
I think BAML is a no brainer, for the following reasons:
You already have established some rapport with the team there, having done your sophomore summer in the group. Assuming they've let you come back to the same group for junior summer, the conversion rate to a full time role should be nearly 100%. At GS who knows, you could get a return offer but you could not.
You've worked with the BAML team, like the culture and there are going to be no surprises. I can't emphasize enough how important this is. Working with good people makes a huge difference to your overall experience as a banker. I would take good culture over a slight edge in prestige any day. GS Industrials for what it's worth, is one of the toughest groups at the firm, specifically known to have bad culture. I know a number of people who have gone through that group, and it absolutely lives up to its reputation.
Your exits at one of the BAML groups you mentioned are going to be more or less the exact same as from GS Industrials. On top of that, you'll get more internal support to recruit (the people I've known at GS Industrials were incredibly close-mouthed about their recruiting and literally one of them wouldn't even tell me where he was heading, that much fear of his group finding out) and better culture = more time to focus on recruiting, work with the 2nd years to understand the process, ability to interview without making countless doctor appointment excuses etc.
Congrats on 2 great opportunities, it's a nice choice to have to make.