SC&H Group: Investment Banking SCAM
Craziest networking call that I have ever had..
Last week, the director of recruiting called me 11 minutes late and did not apologize. He said straight-up that he doesn't care whether you have an MBA from a top program or an IB/PE internship. "We aren't going to pay someone more just because they have an MBA from (Cornell/CMU/NYU)."
In his mind, everybody, whether you have a PhD, MBA, or 10 years of experience, starts as an Analyst. On top of that, Analyst pay is drastically below street:
Analyst pay = $60k base + $20k annual bonus + $0 signing = $80K
He was an absolute asshole about it, making me sounds like I care too much about pay or getting an Associate title. "I'm not discrediting your MBA or internships". ...Dude, if you are paying an undergrad the same as someone with 5+ years of industry experience and 2 additional years of schooling, you are BY DEFINITION discrediting (by 100% to be exact) any experience or education that is not directly full-time IB experience.
Stay away from SC&H!
Heard similar things from other people about these guys
Checked out the website. Lots of talent from known investment banking supertargets including Maryland, Loyola MD, Towson, and Frostburg State. Aka the real ivies.
I'm ngl, I think OP deserves monkey shit and sounds like an entitled prck. You're interviewing with a no-name boutique and it sounds like you have no real prior IB experience and presumably don't have a top tier MBA. They're not a scam for not shelling out $200K to basically teach you the business from ground-up. That's what a lot of these shitty boutiques are, it's basically a glorified apprenticeship. You're lucky they pay you at all. If you made any effort in life you would easily be waltzing into an MBA Associate role at a real bank. But if you have a shit resume and shit background and are cold calling shit banks to try and get your foot in the door you realllllly need a reality check buddy. You're going to have to eat shit at some point in life and it sounds like you've never yet eaten shit. If you did you'd have a better MBA and would already have a role at Bank of America, Citi, CS, etc.
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