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?
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OP summer intern got into BofA M&A after group placement?
Nope. Looking to lateral post-grad
One of BAML's top groups (up there with FSG, LevFin). Strong exits but you will get worked.
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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.
Awesome, thanks for the insight. What were your friend's hours typically like pre-COVID?
Typically in the 80-100 range.
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.
Thank you very much for the reply! I can't PM you; would you mind PM'ing me?
Sorry but really want to stay anonymous - definitely can answer your questions here though, and hopefully by answering them here it can help someone else as well.
Any insights on BofA’s Tech M&A team?
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