MS GCM vs. BofAMerrill S&T SA
What do you guys think would be a better opportunity? Considering that I like the people at each firm equally, and that BofA's S&T program is a rotational one.
BofA said they would also let me try out a rotation in GCM during the summer.
Do you mean MS would let you try a rotation? Why would BAML's S&T group rotate you into GCM?
Nonetheless, I'd pick BAML mainly because I'm personally more interested in the S&T industry... other people on this post may say that you should choose cap markets as it may have more exit opps. nonetheless, that also depends on what group you're in since being in an investment grade desk, for example, can be very specialized. If you're focused more on exit opps then GCM. Other than that, you should flip a coin... try best out of 3. you're in a positive dilemma. congrats on both.
First, thanks for the input run.
MS is a non-rotational program, whereas BAML's S&T program rotates you through 3 different desks over the course of the summer. Of these three rotations, they offered to let one of them be into GCM.
Is there any other input on this? Also, why is GCM's exit opps greater than S&Ts?
OMG Congrats on the BAML S&T! I'm joining BAML GCM this summer but S&T is pretty baller
I think you've pretty much answered it yourself, haven't you?
Since both firms are equally prestigious and will look pretty much the same on your resume, let's take a gander at the opportunities presented in both cases. BAML is a rotational that is offering exposure to GCM, while MS is offering a non-rotational in only GCM. I'd suggest that unless you are 110% sure that GCM is where you want to be (as the person above noted, a lot of times GCM gets pretty specialized) then I'd take BAML.
The best thing someone your age can get is exposure to various parts of the industry, and it seems that at BAML you'll be getting just that.
But anyway, congratulations on scoring both offers! I wouldn't sit on em for too long though; people in the industry don't look favorable on the "last minute callers" (as we've named 'em). That being said, make sure you are 100% sure of your decision before calling anyone because that's the most important thing. When do you need to make your decision by?
@ wallstreetsince85:
Are they considered equally prestigious? To the best of my knowledge, MS is a much more prestigious firm than BAML. What's the view on both banks from someone in the industry?
Anyone who doesn't see that MS and BAML are equals is (I'm sorry to say) an elitist living in a pre-financial crisis. These are the same types of people who still swear that Lehman was better than a boutique like Jefferies back in 2006.
A lot has changed over the past two years, and from what I've gathered, BAML is actually strengthening while MS is working through a lot of corporate nonsense. That's not to say you should base your decision on that statement alone, but you really have to ask yourself if you're wiling to take a position based on dated notions of prestige rather than on the opportunity itself. A fine, smart student like you has the world at their fingertips-- best advice I could give is to take a position that offers you the greatest amount of exposure possible. That way, you learn what YOU want to do and what YOU'RE good at--- and the money follows.
pre-financial crisis world* I meant to say.
Morgan Stanley more prestigious than Bank of America? Is this a joke?
As someone who works at Goldman I can safely say that we consider BofA to be a much bigger competitor than Morgan.
Thank you for making me laugh. Good luck with your choice.
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