Hi all, looking for insight on the Truist Securities IB team in NYC.
Curious about:
• Strongest groups in the office
• Deal flow / analyst experience
• Culture and hours
• Exit opportunities
• Overall reputation vs other MM banks
Any insight from people familiar with the platform would be greatly appreciated.
Thanks.
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Bump
Truist is known for LevFin / Product groups. LevFin team doesn’t model per se, more about syndication.
Exits are all over the place but mostly lateraling to better banks, MM P/E and PC.
Base is below street (100k for AN1) but bonus makes up for it (would note some groups seemingly got screwed last year it seems, one group got 10k for AN1?)
Best groups are Healthcare and Industrials. Rest are all more or less the same, with variance depending on which group has a good year.
Deal flow is solid but culture is bad. Had 3 sellside M&A closed as an analyst each about 300-800 million but definitely had to grind, get on Sunday work calls a few times, worked all weekend a few times. This is not a lifestyle bank, but also not a sweatshop.
Last year bonuses (bottom/mid/top)
Analyst 1: $60k/$70k/$80k
Analyst 2: $95k/$105k/$115k
Analyst 3: $130k/$140k/$150k
A2A comes with $50k signing bonus and two weeks (16 days including weekends) straight mandatory uninterrupted PTO and base pay bump to $175k.
5 days a week in office policy. Not strictly enforced. NY office is based out of 50 Hudson Yards floor 70, right off of 7 train.
Like other poster said, seen all kinds of exits including: MM buyside (PE or PC or other), Corp Dev, better higher paying banks. I get many inbounds for all of the above weekly or even daily when market is hot.
15 days of PTO a year.
There’s protections in place but it’s all a joke. Seniors and management don’t care at all about junior wellbeing, and you will grind 80-90+ hours at the mercy of dealflow at best and pitch flow at worst. The only upside is pay is good and experience is good. All standard in the industry.
Do you know what the Analyst Bonuses were in Atlanta or if they differed at all?
Same as NY
Could you PM me please?
Very group dependent in terms of exits… Overall, LevFin is the main originating group across the platform (in terms of volume imo I could be wrong though)… Coverage groups will get a respectable mandate as a sole advisor or co-advisor from time to time but that comes from luck and competent senior bankers actually doing their job once in a while. Competency is all over the place at the Director/MD level (Seen some of the best and some of the most brain dead seniors come through this place). Definitely annoying experience at times at the junior level coming from tough personalities in some groups but overall it’s probably a more sustainable banking experience (except for FIG) than other places and the comp stated above is a large reason why people end up staying.
Beware there will be spurts of slow deal flow where you get into a cycle of endless pitching that end up in the void of never knowing what happens to said pitches.
Any insight on the PU&I group? I’ve noticed that associate roles are always open, but I’m not sure if it’s because of high turnover or if the group has been consistently growing
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