Summer Associate - Guggenheim NY vs BMO Chicago
I received summer associate offers for Guggenheim NY and BMO Chicago. Given the minimal exit ops for post-MBA associates anyway, I’m mostly comparing on the basis of where would be better for a career in banking. Leaning BMO given that I like the culture/people and the path to senior banker seems clearer compared to Guggenheim. Any advice would be greatly appreciated.
In my opinion, Guggenheim and it's not close. BMO headquarters is in Canada, so I'm guessing you would be doing industrials MM coverage in Chicago. Gug pays really well, is private, dope office and you are at HQ, just landed the Red Hat deal among others, etc. BMO you're gonna be going to a regional outpost...which makes it harder to play the politics game for senior banker.
BMO's US HQ is in Chicago, Canadian in Toronto
Definitely Gugg over BMO, irrespective of office, just looking at pestige and quality of firm alone. Add in NY vs. Chicago and you'd much rather pick the former.
If you're a career banker not seriously concerned about exits, I don't understand why NYC is definitively better than Chicago.
If you're a career banker, you'd still want to keep your options open in banking itself. Given cyclicality and turnover in the industry. You can always switch from a better firm & city to a lower tier one, going the other way is much tougher
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