Hello Everyone,
I have 2 "questions":
-I'd like to know what are the salaries in I-banking in Chicago compared to New York.
-Can I have a few pictures about the Goldman Sachs office in Chicago ? How big is it ?
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It's been a long time since I met people from the branch offices for analyst training, but it used to be that street was generally street everywhere at the big banks.
I'd expect some of the MMs like Blair and Baird may take a little longer to catch up to the salary increase for Analysts and Associates. But if you have an offer from a team that you like working with there, I wouldn't let that deter you. The Chicago MM firms have a lot of smart people and Chicago finance in general is a little better at mentoring folks than NYC IMHO.
I think GS has two Chicago offices- I've seen the outside of 71 S Wacker and it seems like a nice building. I've never worked for GS so I will defer to others for comment. 71 S. Wacker is convenient to the train lines for folks living in the suburbs, but it's a hike from Lakeshore East and Streeterville if you want some walk-to-work, live in trendy neighborhood lifestyle.
Just bear in mind that Chicago isn't the warmest place on earth- the winters here are about 5-10 degrees colder than NYC and probably 12" snowier. Yesterday it was in the 40s and it's not even fall yet.
please don't humor this piece of shit
I think every serious question deserves a serious answer.
I'm not sure it was asked with what WSO defines as tact, but I think it was asked seriously. So I'm happy to answer it. I think if we were nice to everyone on this forum-at least those who aren't trying to be mean or douchey, WSO would be a nicer community.
If someone had asked how likely they were to make seven figures their first year, at that point, that's arrogance (and my serious response to the question would be 0.00%). I only see a little bit of naivete and misplaced priorities in this post. No serious character flaws- just confusion and maybe a little immaturity, like many college students experience. People come here to become more mature about their careers and more sophisticated about the job hunt- why not help them?
I only work with GS SLC & NYK, both offices have a good talent pool and their associates seem to be fairly content. After time they promote up and rarely leave the company.
GS offices are nice inside, building is very nice.
IB groups at the major firms are smaller than what they are in NYC, but that means a better learning opportunity potentially for you.
Salary might be a bit lower, can't speak to this specifically - but the biggest thing to remember is that cost of living in Chicago is much, much lower than it is in NYC. You can live very well on a 1st year analyst's salary, and that's something to take into consideration. Also...taxes are much lower. Your net income is going to be higher, and so really any small differences in salary aren't going to mean anything.
Chicago - Looking to move and stay in banking (Originally Posted: 01/04/2007)
I'm looking to move to Chicago in the next 12 months and want to stay in banking.
I have experience at a top international bank in Europe. Currently a 2nd year associate (1.5 years) and a direct promote.
I don't have a lot of contacts in Chicago and am looking for a financial recruiter for banking and maybe private equity.
Does anyone have one or know of a good one?
Also, besides UBS, CSFB and GS, does anyone else have a decent sized office in Chicago (thinking minimum 10 actual investment bankers).
Any comments on Chicago?
why do you want to be in chicago? i can't imagine anyone wanting to choose this city over new york or san francisco unless they have family, friends, or other connections in chicago keeping them there.
the city sucks for job opportunities and investment banking. there is no culture that makes the city great either - it is practically a wannabe new york.
I thought Chicago, was one of the best cities to live in in the USA. I agree about SF because the city is alive but also the surrounding areas are great but the cost of living is now off the roof.
There are personal reasons for Chicago, although I think Chicago has pretty good vibe. San Fran is awesome, although pricey. New York is also cool but not for everyone.
ComingtoAmerica,
Please ignore patekphilippe's comments, he does not know what he is talking about. The city does not "suck" for job opportunities or investment banking. I have several friends/colleagues who have interviewed at KKR, Carlyle, TPG, MDP, etc, so the city certainly does not lack "exit opportunities."
JPM, LB and ML all have a presence in Chicago. However, UBS, CS, and GS are the prominent players.
Wizard of Oz - Do you know what industry groups each of these offices has.
I know UBS, CS and GS all have industrials but not sure if anything else is in Chicago.
Don't know too much about the others so colour would be appreciated.
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