BAML Best Groups & Exit Opps

Hi monkeys,

I've seen similar threads popping up for JPM & MS groups recently and to my surprise could not find any info related to BAML. I would be curious to hear your thoughts on what the strongest groups are at BAML and how they place in terms of PE exit opps (MF & MM).

I am personally a bit uncertain about exit opps despite having heard good stories, since I only rarely come across former BAML analysts when sifting through e.g. MF's LinkedIn or MM's team webpages.

Thanks and have a good one

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Comments (63)

Mar 10, 2018 - 5:13am

Would be interested as well (particularly wrt London and European offices more generally)

Array
  • 1
Mar 11, 2018 - 12:32pm

In terms of product groups, LevFin is one of the best on the street. M&A is very strong as well. On the coverage side, C&R and HC are both very good. I could be missing a few though.

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May 3, 2018 - 1:39am

I have heard the group has a fantastic culture. Great offer return rate too. They get excellent deal flow as it is one of the best C&R groups on the street.

Don't know much else but hope that's helpful.

Oct 14, 2018 - 12:27pm

Consumer Retail is supposed to be the strongest group (in terms of deals, don't know about culture). However, as an intern you will be pooled so steering towards your favorite group beforehand may prove rather difficult.

Aug 3, 2019 - 1:17pm

I've heard that PE exits are stronger for the product groups (particularly sponsors, M&A, and LevFin). LevFin is fairly large, while sponsors is a tight-knit group (not sure about size/culture of M&A).

  • Analyst 1 in IB - Gen
Aug 10, 2020 - 12:17am

Its funny to see how the bank has grown during these last years in London, literally seems a different player in terms of deal flow, reputation and exit opps

  • Associate 1 in IB - Cov
Aug 10, 2020 - 11:35am

Second this. The rest of coverage groups get very mediocre exits (MF impossible and UMM extremely rare), at least for NYC.

  • Analyst 1 in VC
Aug 10, 2020 - 5:20pm

How about tech coverage in Palo Alto? I've heard they've been growing a lot? How do they place in terms of PE in the West Coast?

  • Analyst 1 in IB-M&A
Aug 10, 2020 - 7:27pm

PA has both a tech coverage team and an M&A team specific for tech. Iv heard from multiple people in the office that the M&A team is extremely strong and lean - they cherry pick the top candidates from the coverage process and throw them in the M&A one if interested.

Aug 12, 2020 - 8:09pm

Quite a bit of the info in this thread is stale. Some comments are right though.

For PE exits: Sponsors >> M&A > Lev Fin
Real Estate exits: REGAL

C&R has historically been strong, but had a brutal 2019. I don't think they've recovered yet (could be wrong here; idk how COVID has affected the group). Not great culture, especially at the junior level.

HC has strong deal flow. TMT is up-and-coming with many more bodies than previous years.

In general, with Matt Koder as the relatively new head, there has been a push to cover the MM. The regional investment banking groups are growing incredibly fast (at least pre-COVID). Goal is to capture these clients early and bank them as they grow in size, using the entire BofA platform to do so. Think it's working well, BofA got out of the hole it found itself in at the end of 2018.

Overall COVID has been good for BofA. DCM has gone off and has been the majority deal type since March, with absolutely incredible figures.

Also, unrelated note, it's BofA Securities now not BAML. If you see BAML on LinkedIn, it's because people haven't updated their profiles.

Array
  • 4
  • Analyst 1 in IB - Cov
Sep 13, 2020 - 2:34pm

BAML and CS are generally considered to be the best (maybe slight edge for CS). JPM is less execution-focused but still strong, Barclays seems up-and-coming but slightly below

Mar 9, 2021 - 1:47pm

Currently viewed as an internal lifestyle change transfer, though I'm not too sure just how true that is. Bonus is lower (in the same way coverage IB bonuses are lower than M&A bonuses at the associate level). Hours are supposed to be much better, though I have a few friends who are working quite a bit. Think this is due to the teams still being fleshed out; hours should come down once these teams are fully ramped up. Can't speak on exits since there's not enough time/data. I can't imagine exits will be good at the analyst level; general coverage IBK does just-ok, so think the regional groups will be targeting the MM and LMM PE markets.

I don't think this is a group to go for if you're concerned about exits. It's a good group if you want to make a career out of MM banking. I think the main perk, besides lower work hours, is that you'll be closer to your clients. These are not math-heavy groups, more relationship focused. Giving MM/regional clients more attention than they'd typically receive at the general IBK level. Think it's a great market opportunity for BofA; the revenues they've pulled in so far and the speed at which they are growing already prove this.

Array
  • 2
Mar 9, 2021 - 10:32pm

All coverage and product groups at BofA will check the box with headhunters. The rest comes down to you as a candidate and how prepared you are for interviews. Group is not nearly as important as you would think. The cream always rises so go wherever you think you will be happiest. 

  • VP in IB - Gen
Apr 6, 2021 - 4:53am

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  • Business School in IB - Gen
Apr 6, 2021 - 9:37am

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  • Intern in IB-M&A
Apr 7, 2021 - 12:46am

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