Thoughts on BofA M&A?

Curious to hear people's thoughts on the M&A group at BofA. Any insight into the culture or exit opps? How does it compare to other BB M&A groups? Any thoughts on where the group will be at in the near future in terms of growth?

 

From what I know, it's a good group. Close friend works there and he is always busy but he raves about how much he likes his team, from fellow juniors to the MDs. Sounds like they get good people. Not to jerk BAML off too much but my friend in healthcare over says the same thing about his team. Not sure about exits because he hasn't attempted to exit, and doesn't seem like he will.

Dayman?
 

Awesome, thanks for the insight. What were your friend's hours typically like pre-COVID?

 
Most Helpful

Did my analyst stint there years ago. Pretty decent group to land in - there are certainly better groups on the street but there are also definitely worse. You'll get excellent modeling experience (at least pre-Covid) and will have very steady deal flow. M&A holds the model for the overwhelming majority of live M&A deals at the bank (save for FIG, REGAL, and some energy). Street comp. Exits are pretty good and mainly a function of pre-existing factors and your level of preparedness for recruiting but you should get looks from most major funds (assuming your academic background is sufficient as well). Culture is decent, definitely better than some other groups at BAML, but it's still banking. You will definitely get worked - I'd expect to average around 85 - 90+ hours a week (and probably more now given WFH/Covid/SPAC-mania). This is mostly due to the majority of your work being live-deal related. It can get sweaty at times but I don't think it's as bad as some of the other stories we've seen on this site (Moelis LA, Piper Jaffray, etc.). Seniors are okay, but there are definitely a handful to avoid working with at all costs. Turnover at the junior level is extremely high - most of the really good associates end up leaving in their first year or two, so the ones that end up staying tend to be pretty bad (either competence-wise, culture-wise [i.e. they guzzle the banking kool-aid and are absolute hardos], or both). A lot of people at questionable levels of competence at the VP and Director level in particular to avoid being staffed with; that said I know the group has hired a good number of people since I left so I'm not sure about the quality of the newer cohorts of mid-level bankers. Your experience will likely end up being a function of who you work with, which tends to be based on luck of the draw from your first few staffings; if someone likes you/your work product, they'll repeatedly request you on their deals. If that person is a nightmare to work with, good luck lol, but if they're one of the few better MDs/Directors/VPs, you'll be well taken care of and have a solid experience. 

Happy to answer any more specific questions you may have.

 

Dicta sapiente velit et. Quis placeat velit laudantium in quod ipsam mollitia. Rem atque iste at quis. Consequatur sit aliquid harum aut.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”