SA 2019 Decision

Question

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.

DanielHardman · Accepted Answer

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.

DanielHardman · Answer

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.

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SA 2019 Decision

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