Sophomore BB SA: BAML vs. CS Doug Paul
Hi guys,
I have an offer from one of these banks, and am expecting an offer from the other. I want to get WSO's insight into the advantages of each firm. So far I have:
BAML Pros: * I know more people here, and the fit is definitely there (fit is there at CS too, but I don't know as many people) * Stronger IB platform (?) * New building * Swiss banking regulations won't affect long-term prospects of bank (as opposed to CS) * Hasn't been recently focusing on shrinking investment bank and focusing on AM/WM (as opposed to CS)
CS Pros: * 85k prorated (i've heard, rather than confirmed 70k at baml) * better reputation (?) * Doug Paul program is more structured, meaning that they have Doug Paul specific networking opportunities, and the sophomore intern class as a whole seems a lot more tight knit
If anybody has any insight into these two banks, I would greatly appreciate it.
Doug Paul deadline is in mid-November. Get the offer before you start comparing.
Are you hoping to work at either one full time or are you just trying to get your feet wet in the industry? If you are trying to work at one full time, go to the one where you like the people the best. If you are just trying to get your feet wet in the industry then as a sophomore it doesn't matter if it is DB or Citi, Barclays, JPM, CS, BAML, GS or MS, you will be far ahead of the power curve for junior year recruiting. There will probably be 70 people tops across the street who have BB IBD experience as a sophomore when applying to junior year so you will really stand out with any of those names/positions on your resume. So again, go where you liked the people the best.
For whatever it is worth, just based off of what you have said about the people, I would probably go with BAML. Your mileage may vary.
Hey,
I interned at BAML as a Sophomore last summer. Best experience of my life. Choose BAML. My group allowed me to jump right into the fire of things: I worked on an announced IPO, a debt offerings, a host of other projects, and really got an unparalleled view of investment banking at 19 years old. I accepted an offer to go back next summer. I'm happy to talk more privately too.
On top of that I performed at the same level as many of the juniors, yet expectations were lower because I was a Sophomore. It was great.
I, too, interned as a sophomore at BAML last summer. I couldn't say anything but good things about the experience. Get over the money aspect - too short sighted. You'll get a pay bump your junior summer, and your network within the building will be incredibly strong from the start. Good luck, and let me know if you have any further questions.
Lol...Based on your post, the Pros of BAML are: It's not CS
Just my 2 cents but I'd be wary of joining any European IB over an US IB right now.
For CS in particular - the CEO publicly stated that he will be downsizing the IB, and keeping it more as a support role to the wealth management division. Right now (and esp. for just a sophomore internship) it won't matter but if you ever decide to stay in IB for the long run, you can bet that CS will be going the route of UBS - perhaps not to the full extent that UBS did but in the same direction.
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