The 3 BBs in Houston
I have seen a few posts recently about rankings in Houston, but I'm looking for specific information about how three bulge bracket investment banks (GS/MS/JPM) have performed in Energy IB. In particular, I was hoping to learn about junior exit opportunities/ what analysts pursue after a couple of years at the firm. In addition, I am curious about culture (interactions with both junior/senior colleagues and WFH/ hybrid options).Appreciate all of the insight from the community.
Thought this had been covered ad naseum on wso. GS and JPM stronger dealflow than ms. Rough culture at all of them. GS exits are strong, have seen some go to KKR Industrials for instance.
There are so many recent Houston threads on here. One is active in the last few days.
Agree with above, culture and hours will be bad at any of those. Houston has a lot of sweatshops. GS and JPM are fairly strong on the league tables, MS is not a top player but hangs out in the mid-tier. Citi and Jefferies are the other two that do well, but culture again is problematic.
Exits - MF exits are rare (most MFs do not do O&G anymore, and something like MF Industrials is not a typical exit) and even generalist MM NYC will be an uphill battle. Infra NYC is an option. Most analysts go to MM firms in Texas, largely within O&G. If you are set on MF or want to be in NYC after your analyst stint, do yourself a favor and head to NYC now. If you want to live in Texas long-term, by all means enjoy the LCOL and nice weather.
Most banks will allow you to work from home ~2 days a week (plus weekends are WFH). GS is pushing for 5 days in office. Really hard to predict where hybrid models will go in the next 6 months let alone by the time you start in 2024 though, so I wouldn't make any decisions over that.
OP here - Appreciate all of the help, thanks! I realize that the Houston IB landscape has been covered a lot these past few weeks, so I made sure to review those previous threads as well.
My main question was about the 3 BBs and it looks like JPM/ GS come out on top, with potentially GS exits slightly edging out for PE.
That's exactly what I was looking for when I posted, and I appreciate the guidance!
It's the same guy making the threads. No one really cares about Houston other than UT/SMU students.
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