How would exit opps and experience at BAML LevFin - NY compare to a generalist offer at MS/GS NY? How does BAML place compared to industry groups at these two banks? Is it worth the gamble to take the generalist offer? Thanks!
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I have a good friend who just left BAML lev fin for PE, so I can provide a little insight.
From what he has said, the exit opps are about as good as they get but the hours are very rough. However, that’s expected in any top group with solid deal flow. Pretty much anyone in that group that wants to do PE makes it into a solid shop.
Not much of a risk taking a GS/MS offer though lol. Very high chance that whatever group you land in with those firms will be solid. Probably just depends on your long term goals.
Thanks for sharing. Do you know where analysts placed this year out of BAML LevFin?
Know a BAML LevFin analyst that just left for MF PE. Great group. Sounds like you can't go wrong.
Both are great options! Seems to me that you are considering BAML given that you believe levfin helps you exiting to PE further down the line... and I guess overall levfin does help you exit into PE. However GS and MS are top of the league, and both place a lot of analysts/associates in mega funds, thus id choose GS/MS... On top of that, check FTs article "BofA’s record profits marred by growth concerns" that came out a few days ago.. that would also reinforce my choice.
Take MS / GS. The reality is that you will get great buyside looks no matter where you go (among your options) but in terms of building your own “brand” for long term, having GS / MS will be more beneficial.
Additionally, they will give you more flexibility in terms of exit ops should you decide to take a different route.
Couldn't you argue, however, that ending up at a sub par group (relative to other groups at GS/MS) would net less long-term benefit despite the brand name?
Assuming that he is set on going into PE, it seems like BAML Lev Fin would be, potentially, the best option out there. It is an execution focused lev fin group with very strong deal flow, which means the technical experience earned there would be significantly more relevant than that of a random MS/GS group. Granted, the GS name goes a long way, but those in the industry would most likely recognize the caliber of BAML Lev Fin and the skills learned in a debt-focused group.
Just some thoughts
You make some good points on experience but I think you’re handicapping the generalist role at GS / MS a bit much. They still have great technical / transaction experience (relative to most IB analyst spots, although it’s true it may not be the same as BAML levfin).
From a recruiting perspective, I know we (like most large buyside shops) still get enticed by brand name (in terms of interview invites). So candidates from BAML levfin and from GS / MS (including generalists) will get interviews and have the same opportunity for an offer.
Also, aside from maybe the first year post IB, no one is really going to know / care what group you came from at a bank, but you’ll always carry the bank name. Once you move on from Associate (on the buyside), your biography will often not include the group, just the bank. Also, people’s memories regarding individual groups fade and groups move up and down in the rankings. A few years back, going to sponsors / levfin at DB made you the shiz because they were crushing it. ~12 years ago if you were at UBS LA you were the shiz.
At the end of the day it’s a win - win situation. But as someone who took an offer at the strongest group in a less than strongest bank, I’m realizing more and more that there are slight advantages to things like this (despite making it to my current role).
Does anyone know recent placement for the group / how placement compares to groups at MS/GS?
Had a few buddies at BAML LevFin a year or two ago, exits were notoriously good into private equity, credit, and HF’s
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