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Heard from a recruiter a couple of days ago, that most positions NYC, I.E, Structured debt and Capital markets programs, are full. Some of their other programs have finished interviews and waiting for offers. This is just NYC tho.
What do you mean waiting for offers? I just had my final interview last week that’s why
Depends on the role you applied for. If you were more specific I could maybe help.
Good luck trying to exit from SMBC. They brag that only 3 analysts have left in the past 3 years dawg. Only a move if you’re trying to be a lifer in IB. I’d caution against it for majority of folks
This may have once been true but the opposite is the case recently, they had a ton of M&A analysts quit at the same time recently and others exit quickly to other banks. Not saying they are getting PE offers, its more that the culture is pretty rough and the deal flow is poor so they hustle to get out ASAP
rough as in sweaty?
Edit: want to reiterate that the only groups I can speak to below are the IBD M&A. DCM is strong since SMBC has a massive balance sheet. The below is not an indictment of the other groups.
Since there's so many posts going around about SMBC, I'll add:
1. The CIBC group is corporate lending, not investment banking at all despite what the name suggests. The true IB is the M&A group.
2. The M&A group is a complete disaster. Most of the senior bankers / MDs have no real advisory experiences and came from corporate banking. As a result there is zero deal flow but sweatshop levels of pitching. The head of Tokyo M&A caught onto this and has fired the group head + other MDs. They've hired some more MDs from BBs but even those guys don't have traditional corporate advisory experience. Every junior person who goes there leaves as soon as they can.
Culture is horrible too. Middle management is overstaffed doing junior work and will not give you training / instructions and then berate you if things don't come out perfect your first try as a new analyst. There's this one member of middle management everyone is scared to work with because of the intensity with which she will berate / micromanage people for the smallest of things (will make people feel guilty/dumb for really small errors). There's also a pretty strong facetime culture.
3. The people in the group have a visible inferiority complex about the poor deal flow of the M&A group.
Would not recommend going to the M&A group unless you are confident in being able to lateral out. And you will get looks to do so.
Does this apply to structured debt? I’ve heard good things about their project finance group, any truth to that?
I've personally never worked with those groups. However, I have spoken to project finance and they seem like lovely, competent people. I get the impression from some middle management people there that they know how to mentor people and care to do so. Have heard from friends in the group that they do have a facetime culture. SMBC project finance is very strong in the lending side, not sure how much advisory they do. To re-iterate, culture / quality of people in the group seems to be good.
Does this apply mainly to IB/M&A? Seems like DCM is a fairly strong team and SnT does well from that. Helps that the other side of the business is balance sheet heavy and they seem to have good relationships from that. Obviously all connected in some ways regarding bank strength but curious if you can share more.
yup, I can only comment on M&A, sorry
DCM is definitely their strongest
Really glad/interesting you said this regarding the culture. I had a superday consisting of meeting 6 different interviewers and I kid you not 5/6 of them were literal assholes lmao. They were for no reason just mean and rude. It was absolutely insane, out of my 12 interview processes this one was the only one I looked back and thought damn that was really unpleasant.
can you elaborate more on how they were assholes during the process?
Hi, could you elaborate about what you've heard about CIBC? I recently accepted an offer, and I def. got more of Corporate Finance vibes, I understand that they are under LMG. My interview process with the bank was honestly amazing. The interviewers were really great & seemed to prioritize culture & Junior analyst treatment. I saw that your post said quite the opposite. I wondering if you could clarify? or were you just referring to M&A?
did anyone hear back from Superday? if so how long did it take? It's been three days since my interview
5 days. Heard back on Wednesday after a follow up interview post superday
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