R.W. Baird

Anyone in NYC, what are the thoughts on R.W. Baird? Have you even heard of them? In Chicago, I know for a fact that their equity research is fairly well respected, but what about their IB? Very middle market I know, but thoughts are appreciated. Thanks all... From my perspective, I'd be looking for an internship for this summer that would perhaps lead to full time, but curious about the firm's rep on the Street.

11 Comments
 

At least I can tell you they are doing much better than the troubled Big Banks like DB and Citi, I am not really sure of their IB businees. however in their research and sales and trading divisions are very solid,

It's one of the few place that are still hiring today, do your best to get a job with them. They have the potential to grow bigger and bigger.

 

I heard a rumor that they were struggling heavily due to the market and laid off a number of 2nd year analysts. Granted, this was just a rumor so don't take it as gospel. Baird is a very solid shop in the middle market and a good name to have on your resume. There are a lot of MM PE shops in Chicago as well, so you'd be in a good position to transfer over to PE after your 2 years as an analyst if that is your objective.

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Best Response

As far as I know, they only have large offices in the midwest. They mainly hire (MBA & UG) out of the large midwest schools (ND and the big ten schools).

For whatever reason, they really want to hire people from the midwest. I had great feedback from Baird alum that I talked to. However, the HR rep informed me on the phone that my being an east coast guy was a problem.

I never got an interview with anyone above HR. Strange, considering that it was for a junior ER position, and I've passed all CFA levels.

I don't know about them being in financial trouble. I recall hearing that they came thr all this in solid shape.

 

I interned at Baird and accepted a full time offer in IB starting this summer. They recently laid off some 2nd year analysts. I got a call from an associate to let me know what the deal was, and telling me not to worry about the status of my offer. He said the reason they laid off second years was due to the fact that the first years were not getting much actual deal experience. Most of the people laid off already had PE jobs and were paid the salary they would have made and also a small bonus. They made it sound like this was not a cost cutting measure, but rather one to ensure the quality of the analyst program.

The major IB offices are in Milwaukee and Chicago, with small offices in Mclean VA, Boston, Palo Alto, Tampa, London, Frankfurt, Hong Kong. They recently opened an office in India and one in Charlotte(led by a bunch of former Wachovia Bankers).

I know they are done with full time recruiting for next year but I'm not sure about internships. I interned in the winter, due to the fact that im on trimesters. If you can do that, i highly recommend it due to the fact that there is very little competition.

The were the 2006 Investment Dealers Digest MM bank of the year, 2008 Buyouts magazine MM bank of the year, and a fortune 100 bets company to work for for the last 5 years.

The culture is great, the analysts are all very close, and usually are best friends outside of work, play pickup basketball together, hit the bars together, etc. In the milwaukee office, most are from Big Ten B-Schools with about 25% from the ivy league(cornell, dartmouth). The hours are on par with other banks (average around 80 hours a week). I heard banking revenues were down about 40% from the 2007, but i cant confirm that. As for the thing about east coasters, I go to Dartmouth, but im from milwaukee. I definitely think they like to hire people from the midwest.

If anyone has any questions, feel free to PM me.

 

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