Need your help! If you were a female and had summer analyst offers from Credit Suisse and Goldman for the same groups in Banking, which would you choose? and why? Please be detailed.
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Goldman, because it's Goldman.
^ I agree. Excellent name for a resume.
Follow where you connect best with the people. Study the firms well, i.e. what's the conversion rate is like, etc. For example, if you are set on doing DCM, why settle with Goldman? Might as well go with BarCap..
Why don't you give tell us what group?
Goldman for name alone, especially if it's one of their stronger groups.
Both banks are For coverage - industry groups. No specifications, but isn't it about the people that you connect with over the summer - full time groups. Can someone say what industry groups are very strong at each of the 2 banks? And, is this a rumor that Goldman over hires the summer analyst class and doesn't care about who gets the full-time offers? Can someone confirm or disafirm? Anyone working there?
I have the same offers but will not take any of this advice since i am MALE
Lol, monty you slay me...
Well, female or male, can anyone differentiate about this for both companies as well?
For the summer, I doubt it matters so much if you click with your group. If you can do well enough and get a full-time offer from say Goldman, then you can easily ask to switch to a different group. 9 out of 10 times I would pick GS over CS and DB not even considered.
goldman...because their bankers have the biggest packages. but deutsche's summer overtime pay is pretty hard..to pass up.
You even spelled DB's name wrong...no offense at all...i always had to check it twice.
Go work for the firm you like the most. GS conversion rate is slightly lower than other banks, from what i heard.
GS does overhire their SA class, and CS and DB both pay overtime to their SAs. But neither of those factors should really weigh heavily in your decision.
An alum in TMT at GS told me their return offer rate was 55% from the SA class, the lowest of any BB firm. You as a woman, however, would probably enjoy a better chance by default. While CS/DB give you overtime pay (friend of mine ended up taking home more per week than the FT analysts), GS will probably be a far better name on your resume for an industry coverage group.
Thanks for the answers. I'm also considering the fact that at GS, a FT analyst might work 120 hours, as opposed to CS it would be more humane of lets say even 90 hours per week. Also, how about, if I wanted to go straight to associate, as opposed to going back to business school? I believe it would be possible to negotiate with CS, GS may not care. any thoughts? I get a sense of a more humane interaction at CS, as they really try to retain top talent. GS seems to have so much top talent, that they may not care. Any further thoughts?
Actually, if you are looking to stay in banking long-term then go with GS. They are the only BB that has a direct analyst to associate program, so no third year. It's a big push for them, analysts staying on are more valuable than retraining out of B-School guys. They developed it in the last couple of years and have been pushing that as a differentiation. I know at least 6 good friends who stayed on from 2nd year analyst to 1st year associate.
You cannot negotiate with CS or any bank (or any company worth it's weight) to get a promotion before you even step foot there. You're going to be a summer analyst, not the head of the Investment Banking Division. For most of your summer, you wont ven be very useful to the analysts you work with. You also don't know what it's like to be a full time analyst, much less an associate, so no way to really make this kind of decision now. Don't overestimate your value to the firm.
Whoever told you you work less at CS than GS lied to you. It's the same thing at every bank. If you're choosing between industry groups, definitely take GS over CS. Do not underestimate the power of the brand on your résumé. GS leads league tables in many areas, so in terms of deal flow, you are more likely to get more deal experience there. GS also does their deals within their industry teams, where as CS usually brings in M&A or Sponsors and leaves only the BS work for industry group analysts.
Definitely go to GS over CS.
def Goldman
Thanks a lot!
Also, neither CS nor GS have had placement days considering interviews are not completed. Riddle me this: How exactly do you already have group specific offers at both firms?
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