First year uni student here, been digging my head into this forum and other resources to learn about the industry some more, and hopefully break into it one day.
I see loads of people attacking Citi a lot - any reason in particular why? Cheers guys
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they have a bad culture, they pay under market, and they are generally cheap w/ expenses (i.e. $25 meal allowance which on seamless in NYC only covers the cheapest possible options)
This covers it
Citi does a good number of high profile deals, but they don't pay like they do and treat juniors terribly
yup. if this is the offer you get, its not a bad offer to have - can definitely go wherever you want in PE with it. but if you have choices, it shouldnt be at the top of your list
We've had a number of bankers leave and go to Citi and most have tried to leave within a year of getting there (some begging for their old jobs back lol). They definetly advise on some quality transactions but literally every other factor most people consider (culture, comp, benefits etc.) they fail on miserably.
The pay is extremely low and the exits are subpar
This guy monopolymatters goes to my school. He interned at Citi, didn't get a return offer, and now is shitting on Citi in all of his comments/posts. Don't listen to this troll.
Look at all his comments:
Worked at Citi for some time. It's amazing how much better some of the other bulge brackets/middle markets/boutiques are. Biggest virtue signaling HR shit show on the street.
Citi pays well under market has seen some serious attrition year to date. I know for a fact that some of their IB groups have gotten absolutely massacred with both mid level and senior talent leaving (consumer/tech) this past year.
As the other poster mentioned, they screw over their junior bankers with horrible meal stipend policies and shit resources.
Since Jane Fraser started, the bank has been shifting to more of a "Goldman-esque" approach where they focus primarily on North America advisory. Well guess what, they are not even close to Goldman lmao. Citi's whole brand was predicated on their global presence and now they are ruining the only competitive advantage they have.
Citi is probably the most "woke" bulge bracket and is the epitome of a company who pretends to "CARE 🌈✊🏾🙋♀️" about their employees but doesn't actually give a shit - hence terrible bonuses and benefits/perks.
Ok thanks for that, really appreciated. Virtue signalling HR and wokeness are super annoying - thanks for the heads up
Huge emphasis on the pay too. This is the only reason we do these stupid ass jobs anyway so comp better be good. Citi has other ideas lol
The comment on shifting to a North America advisory model is just not true.
Still very much global focused for the corporate and investment bank - every exit has been solely the retail bank in each respective country. Their biggest strength is the treasury and trade solutions business, which absolutely requires a global presence to be successful.
Heard the energy group is hemorrhaging analysts. Something like ~50% analysts leaving within their first year (before the bonuses hit).
Can confirm. Not sure if the guys who left before 1 year even had things lined up
Heard Citi Energy IBD has the worst culture. Its a quality bank in terms of deals they get on but if only they could improve the culture and not be so cheap. Also, stop striving to be Goldman you are far from it.
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