BAML vs Deutsche

td50's picture
Rank: Monkey | 30

Hi,

I have SA offers at both BAML and Deutsche. The groups I'm interested in are strong at both: LevFin, Sponsors, FIG, and Real Estate. BAML also has better M&A and I've formed a strong relationship with an MD and a couple of analysts. Deutsche has a rotational program and more flexibility among its groups. So which to pick and why?

Thanks!

Comments (33)

Feb 17, 2012

I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.

I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.

    • 1
Feb 17, 2012
Sandhurst:

I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.

I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.

But you think the other banks can survive a BofA default? BofA going down would be worse than Greece going down.

"One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger

Feb 17, 2012
Sandhurst:

I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.

I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.

This was retarded... you think that a bank with "America" in the name and a balance sheet the size of theirs would be allowed to fail? We would have a lot bigger problems on our hands than choosing Summer Analyst offers if that were the case.

Both banks are solid banks and you'll get good experience at both. Go to the place where you have the best relationships and like the people the best, or if there is a greater opportunity for placement into a group you like.

Feb 17, 2012
rufiolove:
Sandhurst:

I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.

I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.

This was retarded... you think that a bank with "America" in the name and a balance sheet the size of theirs would be allowed to fail? We would have a lot bigger problems on our hands than choosing Summer Analyst offers if that were the case.

Both banks are solid banks and you'll get good experience at both. Go to the place where you have the best relationships and like the people the best, or if there is a greater opportunity for placement into a group you like.

I'm not saying that BofA would be allowed to fail. But if it were at serious risk of failure and there had to be a bailout, you can bet that congress would eviscerate BAML. I also did not say that I thought that BofA would fail.. I said that I didn't have a high level of confidence that it would survive a disorderly Greek default. It's no secret that BofA is less healthy than Wells Fargo and JPM. It's sitting on a debt overhang (zombie bank), and is less able to do things like issue short term debt if necessary.

    • 1
Feb 17, 2012

honestly, I'd go with the people. If you have a strong relationship with the BAML MD/analysts in M&A and you really want to do M&A, then that's probably the way to go...

all else being equal, BAML has a cooler building ;)

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Feb 17, 2012

BAML may have a cooler building but damn their "clean tech" lights in there are very, very annoying. It flickers on and off every 2 minutes!

Feb 17, 2012

Thanks for the responses. I should clarify that my relationship with MDs at BAML is not within M&A but rather around the bank. And by the way, hasn't BAML already met capital requirements while Deutsche has not?

Feb 17, 2012

Td50, your such a tool. Nobody gives a shit about which bank you're gonna work at. There are so many offer threads on this website that should suffice to help you make your decision. Stop wasting our time and get a life. Investment banking isn't worth it anyway. Those people caused the financial crisis.

--all da way turned up
--BLC 4 lyfe.

    • 2
Feb 17, 2012
Bonobo777:

Td50, your such a tool. Nobody gives a shit about which bank you're gonna work at. There are so many offer threads on this website that should suffice to help you make your decision. Stop wasting our time and get a life. Investment banking isn't worth it anyway. Those people caused the financial crisis.

--all da way turned up
--BLC 4 lyfe.

cool bro. thanks for stopping by.

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7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.

Feb 17, 2012

DB typically pays more

Feb 17, 2012
mikebrady:

DB typically pays more

Not for summer analyst positions

Feb 17, 2012

They're pretty much the same reputation and exit opps-wise. Numerous threads on both all over WSO. Just use the search function.

Feb 17, 2012

BAML M&A stronger or Citi M&A stronger

Feb 17, 2012

BAML is not going anywhere.

Feb 17, 2012

To anyone who thinks DB is in that much better shape than BAML....it's not.

    • 1
Feb 17, 2012

Optimus, would you mind offering more?

Feb 18, 2012

BAML is like a lesser JPM. DB is like a way lesser GS/MS but with an accent. So the question is, which do you prefer? Also td50, don't listen to Bonobo777- he's probably doing TFA or some shit because he couldn't get an offer from a bank

Mar 4, 2012

.

Mar 4, 2012

At what level? Both firms pay street at the analyst level.

Mar 4, 2012

Associate / VP.

Feb 17, 2012

you'd be insane to go baml route. they're firing all the time and very limited dealflow.
db is doing very well... run lean groups so you probably will get worked harder

Mar 4, 2012
Whiskey5:

you'd be insane to go baml route. they're firing all the time and very limited dealflow.
db is doing very well... run lean groups so you probably will get worked harder

Is this a joke? BAML is #1 in M&A YTD (on Bloomberg and #3 mergermarket) and hasn't had layoffs in over a year whereas everyone else is still cutting. I'd only take DB if it's in London.

Mar 4, 2012

.

Mar 4, 2012

Group placement important, especially if you're looking to join as an associate. Any insight there?

Mar 4, 2012

FYI, culture and people are two very important things when choosing a bank.

Mar 4, 2012

I realize that. What I meant was to assume that culture/people are both equally good.

Mar 4, 2012

.

Mar 4, 2012

i dunno about what it would have been before hte credit crisis (my guess is DB is still better)...but you def do not want to be going to BofA now...going to a division that a company's CEO has stated he's had about as much as he can take with...not a good career plan.

Mar 4, 2012
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Mar 4, 2012