Investment Banking in Chicago 2022

Question

While it's not NYC, does anyone think working in IB in Chicago could be a good move? Believe pay would be around the same, but cost of living would be significantly cheaper (estimating around 25% to 35% discount to new york).

To those in Chicago, what's it like living and working out there? Which banks are strong in the area?

To those in Chicago, what's it like living and working out there? Which banks are strong in the area?

Galoc2 · Accepted Answer

NYC is always going to be everyone's go-to city for finance but Chicago is an awesome city. A lot of finance jobs in Chicago, housing is cheap with tons of new buildings that have great amenities at half the price of NYC. Lots of bars, sports, food etc. Chicago is also cleaner and people generally speaking seem to be a bit more laidback. Yes, the weather sucks in the winter but same with NYC. Yes, crime is bad but learn to avoid certain areas and it should be fine.

DustOff · Answer

As someone grew up in coasts, working in Chicago, my take is:

It’s a lot more affordable, people are nicer, and might be one man’s opinion, but on average, girls are better looking.

However, it lacks diversity (in terms of culture), limited dining options (too much steakhouse), 80% of conversation is about Cubs and college footballs. Also, city is not in the best shape with rising crime rate and Citadel moving out will only worsen the situation from where we are.

Worth trying. If you vibe, it’s a good city but I’m personally in favor of New York.

anon987543 · Answer

Echo what the above says. Chicago not perfect, obviously, but people underestimate how fun it can be from May-October, with all the good bars, fun restaurants and abundance of young people in the city when the weather is good (well, good enough). Great looking city, clean, and like above poster said, got some great new buildings where you can get studio for 2100-2700 and one bedrooms for 2800-3500.

Got some BB presence with JPM, GS, BOA , Citi and Barclays, and EB/MM with Evercore, Moelis, PWP, Gugg, Lazard, Greenhill, Blair, Baird, HL, HW, Lincoln.

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Investment Banking in Chicago 2022

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Investment Banking in Chicago 2022

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