Which Bank for Career Bankers?
Can someone provide me with a comprehensive list of investment banks for current undergrad students who are interested in becoming a career banker?
I am deadset on Investment Banking and I just need to know which banks are the best for a career banker.
You can have a "career" at any banking firm that remains in business for the duration of your "career." As such, this is kind of a silly question to ask without providing criteria about what you are looking for in an Investment Banking career.....
What kind of banking do you want to focus on? Product or Coverage? Which Product? M&A? Equity? Debt? Corporate Derivatives? What industry do you want to cover? Financial Institutions? TMT? Healthcare?
Where do you want to live long term? Milwaukee? Dallas? SF? NY? Chicago? Abroad?
What size deals do you want to do? Mega Deals? MM? LMM?
Answers to all of these questions will determine which is the best bank for your "career". Most undergraduates can't answer these questions as they don't have a great understanding of all of their facets. As such, they try to land in the most prestigious groups assuming that it will give them the greatest range of exit opportunities.
Thank you for explaining all of this to me. To clarify, I want to live in NYC until 60 years of age and work in whatever bank gives me the most pay. In other words, I'm fine with whatever group I'm placed in and whether it's a BB, MM, or EB.
To repeat, the only restrictions are:
Pretty sure Centerview sign-on is 50k with a 3-year clawback
Not sure if this is who you're thinking of but Steve Trauber is the rainmaker for Citi's energy team and he was poached from UBS (back in 2010). His compensation package made headlines.
He was also screaming at Durant and Curry court side at the Rockets tonight.
Centerview is the best EB for career bankers as they specifically want their analysts to stay and the pay is great. PWP also has a great infrastructure for A2A promotes. You'll also get great pay at Evercore, PJT, Moelis, etc but the culture at those firms is less A2A promote friendly than Centerview and PWP. You obviously still can stay long term, it's just not normal. Any BB or MM is also an option, but you seem to be very worried about level of pay which will invariably be better at the EBs at a given level. That said, handicapping your likelihood of making it to the highest levels of any given firm is tough, so you need to try to focus on where you think you'll fit best and where your skills will be the most appreciated in terms of coverage and product.
Esentially, you have a lot of options. I would always suggest Centerview for wannabe career M&A bankers, but it's more complicated than that and goals change regularly in your 20s. So try and do some real soul searching.
He says a lot of things. Another post he said he was at Babson College with some boutique IB experience then another post he is asking for college recommendations. Idk what the deal is here. Moneyishappiness, if you want to be a career banker it is all about relationship building, the further you progress along the banker track the less analytical the work becomes so you need to be a people person - you''re entire job will be to get c-suite execs to like you and want to do business with you, so focus on that. Don't worry about classes, school, and learning about all this right now, you'll learn all that so quickly on the job you'll feel dumb for ever trying to learn it beforehand.. Also - you're (probably?) in high school. Go out and have fun with friends and learn how to form good relationships. That will benefit your future much more than worrying about what classes you'll take in schools you won't go to. Go look up what an MD does on a day to day basis.
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