Got offer for IB SA 2021 for both CS and GS and have tomorrow to decide, reason I'm leaning towards CS is bc of culture and usually higher return rates, except this year. Will next year return rates be higher or is this the new norm if anybody knows? GS has great name but didn't love the people I spoke to and return rates are sometimes very low. Am I crazy to be leaning towards CS?
| +365 | Evercore Intern Seizure | 54 | 12h |
| +70 | JPM M&A is Gone??? Purely Coverage Banking??? | 31 | 11h |
| +62 | Is DCM actually underrated ? | 24 | 22h |
| +51 | How do I understand vs. just memorizing? | 8 | 2h |
| +48 | Losing my personality in Banking | 9 | 22h |
| +47 | Are all Tech / TMT groups sweaty? | 38 | 23h |
| +42 | Associate & Above IB exits | 16 | 4d |
| +33 | Incoming IB Analyst: Best Ways to Prepare? | 11 | 2h |
| +27 | Which groups are ideal for laterals? | 12 | 22h |
| +24 | Thoughts on PEI Global Partners? | 4 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
bump
Current analyst at CS. Depends what group at GS. GS is almost universally across the board better in terms of dealflow and exits (although I still think that the candidate matters far more than the bank) but I've heard horror stories about GS, including from some of my best friends, and their culture. If you're at a top 3 or 4 group at CS I'd consider it, but it really depends on how much you value the culture / are able to get a gauge
return rates also, I heard CS Return rates were pretty high before this year correct? Do you think it'll become that high next summer?
They were still high this past summer, actually (~80%). No idea what will happen next summer but CS really does have room for nearly every intern (I think my group has to cut 1 generally but thats it)
What are the top 4 groups at CS?
Sponsors, M&A, Industrials, REGAL, TMT
Definitely not crazy choosing CS over GS. I've also heard some really bad things about the culture at GS, but at the end of the day, you can't go wrong with either place.
depends on what you would like to pursue long term. i would recommend GS for better exits.
Would recommend GS. Don't focus on the return rates. Gotta thrive to be the best intern in your group.
IB interns at GS can still do top buyside grad recruiting (BX, Bain, Audax, GA, Millenium and some HFs), or go to JPM, EVR, Lazard etc. CS not really.
Same CS analyst as above. GS doesn't really boost exits, I think, and you'll get plenty of good looks at a decent group at CS (I am going to one of the top MM firms, think Leonard Green, Berkshire Partners, GTCR, etc.) and if you're a great candidate you're a great candidate. That being said, GS is a better brand name but I do think the difference is fairly marginal across BBs (like in PE no one cares where you come from beyond maybe mild surprise if you're from a MM bank). I agree that you shouldn't focus too much on returns because the goal is to be a top intern, but culture is the MOST important thing by far. I emphasize that because it will make a huge difference to your happiness / more tangibly, how well you perform. It matters how you do as an analyst and if you are miserable, you won't do as well. For FT I had an offer at a notoriously sweaty but better bank, and turned it down knowing that I got along with my group and would likely perform worse / be miserable in the other bank.
Don't take my word or anyone else on this forum's word for culture, though. Do your own research (if you have time) and see for yourself where you would fit in better. In case you don't have the time to do that, I can give my thoughts based on my friend's experiences (I live with two other bankers and am friends with many from school across every major BB and EB). Culture is mostly group-dependent, but CS is known to have a better culture (note that hours does not equal culture though, my hours are worse than my friends at other banks but I Feel respected by my seniors, no FaceTime, and strong junior camaraderie) than most banks, along with Barclays / BAML / CVP. GS is known to be on the opposite end of the spectrum, and I have heard absolute horror stories about some of the groups (especially Industrials, but also FIG, NatRes, CRG, and Healthcare. I haven't heard anything about TMT but also don't know anyone in the group) about the lack of respect for junior time and quasi-abusive behavior of the seniors / mid-level people
Would agree with the above sentiment. Goldman is typically the highest standard but I’d strongly consider CS if you can get into one of the top groups. A lot of others don’t realize the significance of having a 90% return rate (at CS) vs. Goldman’s ~60%. Basically, if you’re worth your salt as a SA, you’re guaranteed a really great job for the next three years. As we’re mired in a deep recession right now, that is huge. Especially considering that the difference between top groups at CS and solid groups at Goldman is marginal at best. CS, like GS, places really well into PE. Good luck with whatever you decide. Can’t go wrong with either.
Agreed -- one other note is that if you're not a good fit for the culture, there is a high chance you won't get a return at GS. Most interns there are competent, and so they'll cut based on fit and whether you enjoy the culture / the group likes you.
Thanks for all the advice guys I went with Goldman!
Can you give a hint of which group it was? I have already accepted an offer, was just curious.
*gets unanimous advice to go with CS* including own inclination and then posts above lol
Hope you took the offer!
I would choose GS IBD classic over CS. Unless it's something like GS Real Estate, GS has the better platform, recognition, and network.
How did you get an offer from both banks so late in the process? I thought they each wrapped up a couple of months ago.
~
Corporis ad et ut ut ratione rerum. Magnam voluptate ratione aliquid. Mollitia natus ipsam occaecati soluta. Error qui voluptatibus ut sed esse praesentium. Aut facilis quibusdam rerum est quia expedita.
Perspiciatis sequi id autem velit ullam sunt porro. Quam ut qui repellendus harum sit ut tempore. Et omnis accusamus possimus omnis exercitationem fugiat. Voluptatum ipsum explicabo quia molestiae. In rerum aut nisi amet voluptate consequatur.
Fuga debitis dolor eum rerum quas qui enim quo. Enim et reprehenderit delectus repellat dolor natus. Est ut debitis consequuntur non. Rerum omnis accusamus natus enim esse officiis. Quia sapiente molestias et fuga mollitia. Qui autem fugit tempore enim et adipisci laudantium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Blanditiis esse omnis vitae quis id beatae ea consequatur. Voluptas possimus voluptatem dolores doloribus occaecati. Distinctio omnis omnis ea. Sit nam odit explicabo quis non ab.
Voluptatem sint officia aliquam et rerum ex. Non ratione veniam vero dolore est. Quidem dolores cumque numquam ut sapiente quia.
Asperiores id autem vitae aspernatur. Eos dolore eveniet ipsum ut consequuntur optio itaque. Explicabo sed et consequuntur sed et et sed. Et earum consequatur ut similique. Perferendis voluptatem architecto quia molestiae nobis aut quo. Nostrum odio laborum qui. Quia nobis eius nesciunt ea.