Hello all, I have been lucky enough to receive 3 SA 2019 offers, at Credit Suisse, Barclays, and BAML. For the most part, I have decided that BAML is not for me. I am basically picking between CS and Barcap. My worry with CS is that even though it is a good shop, there is an increasing focus on PWM, while Barcap is trying to emphasize IB. However, I think I can place well at both firms. Not sure which of the two is stronger for exit ops. Thanks for the help.
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Congrats on the offers, those are all very good shops.
I don't think that CS focusing on PWM (a great revenue driver nowadays, fwiw) is a realistic way to ding a firm. That being said, I think Barclays has some really good groups (FIG, C&R, HC) that if you think you can place well in, would give you great exits. Long term, are you interested in PE? VC? HF? If you want to go the traditional route of coverage IB --> PE, I think Barclays would give you more opportunities. That being said, I have heard lots of positive things about the CS culture, and would venture to say that their exits are not insuperior by any means.
At the end of the day, I wouldn't judge these firms solely on "exit opps." A top bucket CS analyst who is approachable and hard-working will place better than a bottom bucket Barclays analyst who can't communicate worth shit. Go where you like the people the best, where you think you can perform your best, and where they have a group that really interests you.
Generally speaking, I have actually heard different things. Barclays is said to have a strong culture, while CS has had slightly stronger exits and better name brand. My main worry is CS's PWN, which is what the firm has literally stated is their focus
Interesting, okay. Still not sure why you are worried about CS focusing on PWM -- that doesn't necessarily mean that IB is going to shrink. It just means that upper-level CS management realizes they are missing out on a good revenue driver that most other BBs have.
Even if that is their stated focus, do you really think that actually means anything? CS IB will keep doing what they're doing.
But if that's how you want to convince yourself to not take the CS offer, then by all means go for it. I just don't think it's a reasonable metric to judge CS by.
I think CS is stronger for exit ops, but depends on what group you're in. What made you cross BAML off your list, and what did you think of the people you've met at CS and Barclays? Also what groups are you interested in or have connections in?
Didn't like the people at BAML. People at Barclays were probably the best, then CS. Definitely interested in CS sponsors, M and A, and Industrials, and interested in Barclays Nat Resources, Power, and Sponsors. I think CS would probably have stronger exit ops
If the brands are close, the people is what separates it IMO. You're going to be going through the trenches with your guys 80+hours a week for at minimum a year. A slightly better exit opp with CS (which I don't even know is true...) is meaningless relative to quality of life in that timeframe.
I would see if there’s a chance you could be placed into cap markets groups instead of IB at Cs. At barcap, I know that’s the case. If that’s impossible, choose CS
There's a chance, but I doubt I will get cap markets at either
Was there a problem with the Culture of BAML? I am curious
People, but also very few alum from my school at BAML, many more at CS, and more at Barcap
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