Rothschild vs. MS GCM in NYC
My brother is trying to decide between offers at Rothschild or MS Capital Markets for his summer analyst job. He wants to do IB long term and thinks he could probably move internally within MS from the LevFin group after the summer. Any thoughts on which position would be better for the summer, and which would be better long term (excluding the possibility of internal movement)? Would a capital markets role at MS be that restrictive? On the other hand, is the "brand name" of Rothschild that much worse? Curious to hear any thoughts to pass along.
I still don't understand why people can't ask their own questions
Culture aside. 2 statements and 2 questions for you.
Rothschild good well-known shop and IBD
MS GCM is not IBD
What makes you think you can move from GCM to a top product or coverage group?
What is the goal after your Analyst program? IBD Associate, PE Associate, HF, Corp. Dev, etc.
It sounds like I'm trying to be a cock but I think you need to think about points 1 and 2 and then in conjunction w/ 3 determine how much risk (risk of not getting what you want) you're willing to take on. Is it possible to move between groups at MS? Probably but what if you get stuck, that shit is then on you. Is it also possible to move from Rothschild to a 'better' bank or get recruited to PE/HF/Whatever? Probably but again if you get stuck or don't get an offer then that shit is one you.
So there are different paths here to whatever your goal outline in 4 is. I'm simplifying here but only you know how much risk you want to take.
Honestly I'd go Rothschild IBD but I tend to be more risk averse and worry about "how much I can lose" and not "how much can I gain".
Current analyst here.
Rothschild NY is a satellite office and a sweatshop, with limited dealflow and less-than-ideal exposure to both clients and higher-ups within management. This is common knowledge on the Street, limiting your exits to higher prestige banks unless you network your tail off all summer long.
MS GCM isn't IB, but don't underestimate MS as a brand name, especially since this is GCM and not, say, operations or risk management.
Worst comes to worst, full time recruiting will be a breathe with a revenue-segment "Morgan Stanley" internship on your resume.
Good luck!
Would you say it is relatively difficult to move from SA at Rothschild to BB FT? Would one have to network pretty hard or could it been done with very little networking (ie could you at least get first rounds)?
Raine Group or Bust
Rothschild for sure. Rothschild have the brand name and their IBD is very respected. I think going to MS GCM will limit yourself. I am not sure if you realize but their Leveraged Finance team on the four floor does not do extensive modelling. Most of the work at a junior consists of reading covenant documents and other credit related memos. At the senior level what you will be doing is sales work. The MS name is great for sure but if you are in capital markets, do you not have the same modelling experience as an Analyst in IBD and it is this modelling experience that is valued if you want to ever move to a PE firm or even as an Analyst at an another bulge bracket.
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