Was thinking about this the other day like in an early/mid career it makes perfect sense its the quickest way to gain credibility. what is the benefit of being a GS/JPM/MS MD as opposed to leaving to a firm to receive better economics? Like the name brand maybe but I feel a strong MD the type you'd see at a a T1 BB wouldn't need to leverage the marginally better name so long as they're not going too far down market. If you can generate revenue at the end of the day all other banks would be open to negotiating a seat for you. Plus I'd imagine its a ridiculously more ruthless work environment than the banks slightly down market. So then what's really the point?
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Thank u chatgpt
Please stop commenting bro. Straight GPT + promoting your shit book spam
bump
You might receive better economics, but odds are you'll generate less top level revenue. Juniors in finance like to view MDs as individuals that solely win deals for the bank, because we like to envision ourselves in that position one day. It's not really an accurate depiction.
What you're selling as an MD is different based on the bank you're with. Winning a deal while at GS/JPM is different from winning a deal at a BB with less established institutional relationships, and both are different from winning deals at an EB without a balance sheet to leverage.
Do you think Goldman just happens to have a collection of successful MDs, or that they are so successful in winning deals, in part, because they are at Goldman?
Good MDs likely have an idea of how their productivity would change if they moved banks and will factor that into their career decisions. Some are confident in their ability to leave the elite BB world and continue to win deals, and will take the offer at an EB or elsewhere. Others believe they'll perform the best under the larger umbrella and choose to stay.
Plus partners at GS still make bank
JPM and MS also properly take care off their top rainmakers
It’s also not that straightforward - sitting at an independent bank, I have interviewed a lot of bankers from those firms and only pulled the trigger once (which was a mistake), because most bankers who grew up in those environments find it hard to function outside of them and live with their wits.
The ideal banker for an independent platform is someone who succeeded despite the brand (a top performer at a CS, Citi, Barclays, etc)
Have heard the $15mm figure thrown around for GS partners.
I’m skeptical of that, but do you have any idea on #s?
I would guess it’s a 80 percentile number. Definitely achievable and not an outlier but not average either
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