Best Response

In the US, CS has a much better M&A practice. DB, in the US, has been trying to break into the M&A space since they acquired BT and have not had much success.

As to the slightly subjective items, CS is more prestigious and has slightly better exit opps.

The incredibly subjective item, who has a better culture. That is up to you, who do you like better etc. CS is a more rigid culture in terms of work allocation (analysts get analyst work etc). However CS also gives people offices earlier. I liked the people I have known at DB better, but that's me.

--There are stupid questions, so think first.
 

It's very important to know what groups we're talking about here. If you're going to some crappy group at CS vs. a solid one at DB, then go to DB. You can't just compare it broadly one vs. the other, as group culture is much more important than firmwide, and that extends to exit opps. Get in the right group at either place, like CS sponsors, and you can interview/go pretty much anywhere you want.

 
gomes3pc:
It's very important to know what groups we're talking about here. If you're going to some crappy group at CS vs. a solid one at DB, then go to DB. You can't just compare it broadly one vs. the other, as group culture is much more important than firmwide, and that extends to exit opps. Get in the right group at either place, like CS sponsors, and you can interview/go pretty much anywhere you want.

would sponsors still be a good place to go if there are no LBOs going on?

 

CS Sponsors should still place extremely well when it comes to PE exit opps. They will continue to have at least solid workflow (and there should be at least some LBO activity over your 2 years as an analyst). Either way, the group will surely maintain its relationships with all the top PE shops.

That said, I would look to go to a group that is both prestigious and will have better deal flow, such as CS M&A or Energy.

As far as a generalist offer goes, CS and DB are probably the top two non-U.S. banks. The edge goes to CS but DB is great too.

 

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