Worst Groups On The Street?
Hey monkeys!
Sophomore at NYU (19m, 6/10). I want to work in IB (currently recruiting), but I don’t want to work super hard. Which specific groups within specific banks get less deal flow and therefore a chiller lifestyle? Ideally looking for a group that is relatively easier, but still has strong prestige and pay.
Any input would be appreciated! Also I don’t care about exit opps, basically already have an offer at my dad’s PE firm post analyst stint.
Any group at UBS
Alr bro this is getting cringe
Congrats on UBS
The people in Anchorage are allergic to hard work. If you want a chill lifestyle, both laterally and figuratively, get a job at the Wells Fargo Anchorage branch.
Everyone there is so lazy and takes two lunch breaks every day (hence the use of "laterally" above) and when I was an assistant branch manager I raked in $32.70 plus benefits.
After a couple years, you'll have saved up enough money to buy a one way ticket to Chattanooga, possibly even in Comfort+
You WF Anchorage guys really are something. I come from a top target, think: Stern/Ross/Haas/IU Kelley, used to physically fly all the way down to Anchorage for salmon and king crab chats with almost every guy in the office, and still had the audacity to ghost me after my hirevue
that mentality right there is exactly why you got ghosted. Even though all the schools you mentioned were in the lower 48, you still used the phrase "fly down to Anchorage."
This shows that you contiguous elitists think of yourselves as better than Alaska, and it shows
Maybe reflect before your next trip back up here if you want it to go any differently
Anything FIG, Power/Utilities or Metals/Mining generally a nightmare across all firms. Would avoid
Why?
Granular modeling required
RBC FIG
bump
All of Jefferies, RBC FIG, Lazard Industrials, most of UBS
WF HC
Actually?
Yeah, shittiest group at the bank.
GS Industrials is the best WLB followed by MS M&A. Aim for those for the best combo of prestige and WLB. While we're at it, Jefferies across the board is very chill.
For exits, after you get your sweet sweet PE gig, Apollo is best for WLB.
Also add JEFF Houston for best wlb in O&G banking.
Literally spilled my coffee lol
.
Low deal flow or bad hours?
both
Baird industrials is pretty chill.
bump
bump
RBC Mining
bump
CIBC and BMO Mining
Barclays CRG
TD Ameritrade M&A is pretty chill
BofA EGRC. 40 hours of “work” per week.
“Work” defined as: Sending materials to India without making changes after receipt, pestering industry groups for any work that needs any though, and chasing industry teams who are busy on actionable transactions for EGRCs “mission critical” pitch to a zombie company that nobody wants to bank.
Best part is, you get the same pay and exit opps as them (unless you’re M&A or levfin)
Def not true lol, coverage groups consistently get better exits than EGRC
This is the answer. The group with literally zero value proposition… over bloated and overpaid to boot
LOL I have a good story about these jerkoffs. An EGRC MD reached out to my coverage MD to "collab" on a bakeoff he heard about. ERGC guy doesn't use his own juniors, asks to staff out of coverage. My MD gets added to the DDM (internal sales and compliance tracker) and stops showing up, tells me and the analyst to make the book, with EGRC providing zero help. They attend the meeting, win the bakeoff, then the EGRC proceeds to run the worst sellside process and finds zero interested parties in a $75 business with 2% growth.
We're still on biweekly "market update" calls a year later where neither MD shows up and I run through 2 slides of news to the VP of finance and controller. My MD did give me a decent review though, as we were on some other transactions that actually happened.
Another fun tidbit: After we won, EGRC MD told me he had a VP eager to "support", but I said no thanks and my MD backed us up here. There are some absolute horror stories in my group about working with EGRC VPs.
RBC Calgary, BMO Metals and Mining
Why
SAs have to let their MD tap for the return
You should recruit for NBA, so waste of talent.
UBS Tech
Buddy of mine did his analyst stint at Barclays industrials...good group, good deal flow, good reps, good exits (he went to MF), but awful hours. He worked every weekend including most saturdays
Just awful…
BMO Metals & Mining
Idk how Goldman consumer doesn’t make these lists
Why? Can you elaborate?
Wells Fargo FIG is def up there
Really? They are cranking deals and one of the better FIG teams. What part is not good? Or is this related to recent MD hires
Wells FIG is legit. HC, C&R, TMT… that’s where you go if you want no work
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