Best Credit Card for IB Analyst (COVID Addition)

Starting training next week. Was wondering what the best card would be for an incoming analyst.

I have heard Chase Sapphire Reserve is one of the best. Was wondering if that is still the case given COVID. I will be working from home/not traveling a lot.

 

depends what you spend on TBH. Do you travel a lot (obviously not rn but in the future), where do you spend most, and what do you want to earn (cash back, hotel points, airline points)? If you spend a lot, you might want to get the Chase Sapphire (maybe start with the preferred since the annual fee is $95 rather than the reserved which has a ~$500 fee). Amex platinum also has pretty much the same scheme so you’ll want to decide between the two.

If you are starting out and don’t plan to spend that much, you might want to get a lower type of card like the chase freedom, freedom unlimited, regular Amex cards, Citi double cash back, etc...

if you plan to fly a lot, then perhaps a airline card would be best, or if you stay at Hilton hotels a lot, then a hotel card.

really depends on your decision.

 

Just pointing out that practically speaking the Sapphire Reserve's annual fee is $250 a year given the $300 travel credit. Given the amount of eating out Analysts do, you'll clear that cost and then some in points accrued, easily.

 

true, but again, it’s assuming you use those $300. additionally, you still have the $250 fee still, which is $155 more than the preferred. if you’re going to try to sell off the 1.5 points per travel vs the 1.25 in preferred, it’s a hard sell. don’t think this guy will be spending enough in year 1 to warrant the reserve, hence why I recommend getting the preferred to start and upgrade to reserve in a year or two.

 
Most Helpful

There's virtually 0% chance as an analyst you'll be traveling professionally or personally to justify something like the AMEX platinum. Other than flexing at your next date you pay for (I assure you, she doesn't give a shit) it'll be a huge annual fee that you won't amortize.

Get the CSR. Same annual but the $300 credit, unlike AMEX, is extremely flexible. I've gotten credit for even obscure things I wouldn't assume counted. But you guessed it: flights, hotels, uber, airbnb, buses, trains, etc.

It's the best all arounder, sure you can optimize by getting multiple cards focused on various categories, but CSR does it all, really well.

Disc: I've had the CSR and AMEX for about 4 years

 

same as far as your disclaimer, CSR is best bet hands down (though amex FHR portal and perks is lit and way better the LHRC offered by CSR). the annual fee is negligible. you’re getting $300 off (you will definitely use the travel credit) so it’s $250, plus the various other perks associated. 3% back on dining and travel is huge, and it’s 5.5 cents back per dollar spent when points are used for travel. right now, you can even get 4.5 cents back on dining. when combined with the freedom unlimited (1.5% on everything) and the freedom (5% rotating per quarter), you can transfer those points to the CSR and redeem them for 50% greater value on travel. highly recommend that approach.

 

Chase Freedom Unlimited, 1.5% cash back. I thought about the Sapphire Reserve/Preferred, AMEX, etc. but anytime I travel or get dinner at work it's on my corporate card so it really wasn't worth the annual fee. Put your ego aside and the idea of "prestige" and crunch some numbers based on current spending habits and potential changes to those habits, it's pretty easy to figure out the best card with some simple math.

 

CSR > Amex platinum by far due to their 10x points on Lyft through 2022.

If your company pays for lyft black for car service in manhattan to get home from work it's ~400-500 points you're earning/night, ~2000+ points/week. That's 100,000+ points a year you'll earn just from your daily work travel home from the office ($1500 value). Plus you get the annual travel credit on top of this.

 

Qui libero voluptas aperiam officia sit id. Quia nulla numquam fuga minus. Eaque at quos ut odit rerum voluptatibus non cum. Fuga voluptatem expedita consectetur eos sit. Nobis a provident quaerat ad voluptatibus et. Vero ipsa nihil dolore adipisci.

Consequatur ad vero reprehenderit laboriosam tempore magnam dolor. Dolores id aut repellendus hic nostrum voluptatibus.

Quae tempore magni excepturi quia dolores placeat enim. Placeat cupiditate qui rerum quia nostrum. Delectus qui consequatur suscipit quidem id at.

Magni autem laudantium eum quis autem voluptatem pariatur. Et blanditiis rerum sint ipsa et ea ratione corrupti. At vitae harum consequuntur cum. Quia eligendi molestias maiores asperiores. Qui esse maxime nesciunt repellat voluptas. Temporibus quidem laboriosam corporis ut incidunt perspiciatis vero.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”