Truist in 2024
How is Truist doing post layoffs? How is the culture/hours/vibe, looking at the ATL office
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Bump
Bump. Starting to see job postings again.
I guess I’ll bite. Truist has been improving rapidly and, albeit a few hiccups, things seem to finally be getting on track. Pay is amazing in Atlanta (bonus heavy) and I can’t emphasize enough that the lower taxes and COL will be significant. For groups outside of lev fin and TMT, you have amazing WLB. A new headquarters is being built that people are stoked for. League Tables labels Truist as a top 25 bank in terms of deal value this year (right behind Guggenheim last time I checked). The city of Atlanta is on the come up and is consistently ranking in the top 3 for best cities to work in out of college. Overall, I’m very bullish (and biased) and I think Truist is a great platform for people who aren’t too concerned with prestige.
Any word on how Analyst bonuses are slated to look in the coming weeks?
I don’t work there so I can’t say unfortunately. I reckon pretty good considering deal flow and precedent. Truist ideology is to pay below street base, but bonuses teetering 100%+ of base. (Look at comp from last year and year before). Adjust for COL and you should be sitting nicely, given you’re not in the NYC office or other HCOL area.
When’s the new office expected to be built? Also what’s base pay for Analysts & Associates?
Base Pay: An: 100/105/110 As: 175/200/225
Bonus Last Year: An: 55, 105, 125
As: ≈ 100% of base
New office should be completed some time next year at the latest. Complete with “state-of-the-art” trading floor and views looking into Truist Park and The Battery. Very nice area to work and live.
That’s the exact opposite of what sponsors are saying. Nothing I’ve seen gives a reason to be bullish on Truist. Dealflow down bigly, quality down, best MDs are gone…
I mean if that’s your take I get it, but you have to see the bigger picture. The entire industry has been hit so deal volume isn’t like outstanding or anything, but Truist is still “relatively new” at barely 5 years old. Trust me when I say they are on their way. They’ve poached MD’s from CS and a few other firms. Quality is improving, but I think they need to tighten up their recruitment process. Overall, I’m bullish for the next 5 years and see Truist making great strides. It will take time, but I see the overarching shift happening and if you revisit this thread in 2-3 years you will see why. Note: Some of these points are GROUP DEPENDENT.
Dude…with all due, I worked there for over 10 years from A to VP to almost Director before I left. The “up and coming story” was the only constant while I was there. Literally, every year, they would “make moves” and it would be new Truist, same as the old Truist. Your narrative just ain’t going to pan out. It’s been the narrative for 15 years and I’ve seen these “strategic plays” at least three times.
Truist will continue doing just fine clipping coupons from participating in syndicated deals and leading a small handful of them every year + maybe another handful of LMM M&A with companies to cheap to hire a BB/Boutique and too stupid to hire a more well connected regional boutique.
I left on good terms and would actually go back if my current venture doesn’t work out, so no ill will in my commentary. Just caution anyone reading this who may be deluding themselves into thinking Truist is going to shoulder its way into BB territory …like ever.
Same experience. Truist / SunTrust growth story is their playbook, alongside being "boutqiue work with BB balance sheet" or whatever they say now.
What I actually saw was good MDs either leaving or fighting it out for group head and other titles, which they also used to then leave for other platforms. Almost every junior I considered talented was gone through lateral or firings.
Thanks for the insight, but I’m a little confused since Truist just merged in 2019 and, given the timeline that you’ve shared, I feel like the growth story is more applicable now (I mean just look at the league tables). You worked there though so I digress, thanks for sharing. I also see them as becoming a leading MM rather than competing with BB’s too.
The league tables are misleading. I don't think I've honestly met anyone that worked at Truist as an analyst that closed a deal where they acted as exclusive sellside advisor. I imagine the league tables overstate their deal volume as they do a bunch of financing deals (where they are not lead left) or they are put on as a co-advisor to keep the lending relationship strong.
Just stop lol you obviously haven’t worked there a single day so your opinion is almost entirely irrelevant. You can cherry pick random data or speculate from afar but you have no idea what you’re talking about
There’s literally 0 deal flow in certain groups with most of the money being made is through Capital markets (equity issuances/revolver recaps/debt offerings etc). Work life balance still varies based on groups.
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