Hey there fellow monkeys! I have offers from both firms, and was wondering which one is better in terms of exit opportunities. I'm not entirely sure that I want to do buy side recruiting, but it would be good to have that as an option. The offer from Stifel is a generalist offer, whereas the offer from Wells Fargo is with their Energy & Power Group, doing 50% project finance and 50% corporate banking type of work. Thanks in advance!
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Stifel is Ib...take IB? Idk why this is even a question to begin with.
I get where you're coming from, at times it seems like that to me as well. What complicates the question is when you start to consider Stifel in regards to other investment banks. Stifel is a lower middle market shop that doesn't do a whole lot of M&A. Some industry groups do close more M&A transactions, but as a whole I see the firm doing a lot of capital raising. I think this makes it harder for analysts from the firm to exit to the buy side. It seems like most analysts use the firm as a spring board for lateraling to BBs/EBs. Some do make it to the buy side as well, but this is rare.
The argument for Wells is that the group is pretty open to letting Corporate Banking analysts try and internally move over to the investment banking side. I've also heard (but I'm not really sure tbh) that since the work is like Project Finance, it is also possible for analysts to recruit for Infrastructure PE shops. The modeling is apparently more complex than most of the models done in other IB groups.
Current Wells IB analyst, the points you make are correct. We had a kid switch from CB to IB recently. Overall a solid platform. E&P is a strong group, too.
Thanks for the insight. Can I PM you?
Stifel
Stifel, not even close.
Stifel will give you m&a experience. Wells corporate banking will give you none. Can't speak to E&p at Wells but know for fact that their healthcare and C&R cb teams aren't even left lead on most of their loans. WF cb is a ton of credit memos for loan participations. Assuming this is an FAP analyst spot at Wells, stifel is going to pay you almost twice as much for far better experience.
If you want to do IB, just go with Stifel. Why waste time doing something you have no interest in?
Wells does corporate banking for two thirds of F500 companies. CB pays close to IB level with better hours. If you see yourself being a relationship manager one day or are interested in exiting to industry Wells may be the answer.
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