Wells vs. RBC
Was recently extended an offer for Wells, preferenced New York and waiting for my letter with the exact location. Other office would be Charlotte.
In the process with RBC as well. Is it worth leveraging Wells for RBC/continuing with RBC? Or should I keep Wells and get on with my life.
Talked to great people at both. Talked to more at Wells, also like their focus on growth. Honestly don’t feel like I know much about RBC (3 calls vs 10)
Both are group specific summer internships.
I am interested in Healthcare, M&A, and potentially REGAL. But also happy to work in any group if it’s strong. No idea for certainty around placement. Have alum scattered across both.
bump
What a mid-off. But being serious both are decent but not great platforms, WF doing the weird placement thing they do is enough for me to still be recruiting personally
Will know early next week what office. I guess the question is if I get New York should I continue recruiting. And is there any way to leverage for more “well regarded” platform if I’m not already in the process with them? I’ve networked almost everywhere
I mean if you're interested in REGAL, Wells is the clear choice here, as they have a top 2 REGAL group on the entire street. Personally, it's a pretty tough choice but I would go with Wells if you have certainty around being in NYC.
Thanks
Nobody is picking wells REGL over BAML/JPM or MS REIB
That's just false lmao. Top 2 regal groups on the street are easily Wells/BOFA. Wells sends people to all the top tier shops across the street from REGAL. It's not rocket science, linkedin is free and you can check the exits if you don't believe me.
BofA ranks #1 in fees generated for REGAL coverage, followed by Morgan Stanley, and then JPM. After JPM comes Wells Fargo. Source (2024 year review)
This is not to say that WF is not solid. The group culture within the bank is undoubtedly better than BofA (the leader in the space) and comp is on par with whatever the street is paying which I think is a good trade. The deals WF have been involved with in 2024 includes not just financing (which for some reason gets hate in WSO but is cruicial in the RE industry + part of IB overall…) but also various M&A + spinoffs. More recently they closed on Blackstone’s Marinas acquisition which shows a strong start to the year. The bank is def on an upward trajectory and bound to take more market share in the space + other coverage and product groups.
All banks mentioned above have solid exits to REPE funds. Once you get into the REGAL group within those mentioned bank, it’s up to you to put in the work and covert it into whichever fund you want to get into.
RBC all day
Could you expand on some differences/reasons why
Please take Wells and Reject RBC (I am in the process for RBC too)
I would pick on group vs bank
Neither are guaranteed
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