West Coast Tech IB Exits?

Bump

GS / MS kids exit anywhere they want (NY or West Coast MF PE, top VC / GE, startups etc), really just a matter of choice and a lot are targeting tech / startups vs buyside roles.

EVR / JPM / MOE / LAZ have strong exits albeit a tad below the above two.

BoFA / Citi / Barc can be a bit mid, depending on the candidate etc.

(I don't include Q here, because they are less interested in exits. But obviously they can also exit anywhere, similar to GS or MS if I had to guess)

What are the differences in exits between tiers?

Any info on JPM SF & MS SF (FSG/HC/IND)?

EVR MP has among the best exits in the West Coast. Would throw MOE LA there too

When it comes to exits it’s binary not scalar. If the bank is good enough you will get similar looks. Comes down to how prepped the individual is 

I am at an EB going to a MF. You should rethink what matters for buyside exits. It’s not just about legacy / pedigree.

After GS/MS/JPM placed restrictions on recruiting last year, the EBs are  positioned so much better for exits. You can recruit better when you don’t have institutional hurdles obstructing you. Some of the boutiques which historically were considered tier 1b/tier 2 groups would give you tier 1a like exits due to decreased competition from the bulge brackets during on cycle.

This year’s oncycle turn out from GS/MS/JPM was very low and West Coast on cycle interviews were filled with EB kids just due to lack of hostility towards recruiting. It becomes very hard to sign that MF offer from a bulge bracket even if your group has had historical placement there when you are scared of leaving the office to interview or approaching seniors for references. Not saying it’s impossible, but recruiting from most bulge brackets has become more difficult and isn’t what it used to be. I think that this year quite narrowed the gap between the top bulges and the boutiques for exits. So you should not just go by historical legacy.  

Several kids from the West Coast EB classes are going to MFs this cycle and an exceptionally good percentage of those from west coast EBs who recruited on cycle/off cycle this year have placed at UMM/MFs. If you don’t believe me, go ask around and find out which firms the current analyst 1s at EVR, LAZ, MOE  are going.

I’d argue that even 2-3 years back it didn’t make any practical difference whether you were in GS SF / MS Menlo / EVR Menlo / LAZ SF in terms of where you can exit (though WSO might disagree) despite some of these having better branding, and that gap has just minimized further.

All things considered, this just makes it more important for you to focus on the culture and the kind of work you’ll be doing at the bank, since you have a good chance of exiting to a solid west coast UMM/MF from most good west coast BB/EBs (assuming you are able to actually recruit)

If you're early on in banking, stay in NY. Nothing sucks more than leaving the office late and there's literally nothing open to even pick up some toothpaste while paying comparable rent. It is a very inconvenient city for people that have to work in the office late. Your friends (and romantic interests) that you meet will all work in Tech making comparable salaries and perceive you as basically an overlyglorified accountant that has an unhealthy relationship with their job and office attendance. People will assume you work late and have to turn comments because it is something in your direct control (meaning it sounds like you suck at your job). SF is only cool if you're really into outdoor activities during protected weekends or lean progressive politically.