brown gibbons lang real review?

Can anybody that actually works/worked at the Chicago office give their opinion on what has been said on this forum?

Is it actually as bad as the prestige whore prospects say? it's my only offer and I'd really like an honest opinion on this shop.

 

do you work there, have you worked there, or did you actually know anyone there? not to be rude, but i've already read all the other threads you're quoting.

 

Got an offer there (didn’t take it, went to EB) when I recruited for SA. Base was 85k not 75k. People were nice who I spoke to; HR tried really hard to make the SD a nice event, was actually a nicer experience than any other SD I did. Culture seemed to be worse in CLE from what I gauged than CHI, that might just because CLE mid arguably the worst city in America and the waiting list for hating your life is prob full. The senior folks seemed pretty casual. Work hard rep was openly talked about by senior bankers so sweatshop rep is almost def true. If you realllly want to do banking, take it, you’ll prob be able to lateral if you focus on it. Working to the bone for a bank which gets you marginally further, if at all, than a different industry might change the calc 

 

Tf is that supposed to mean man? u shitting on this kid saying he should switch industries because he only got a BGL offer? Go fuck yourself

 

I know an analyst at BGL who is a good buddy so can speak to the firm intelligibly.  BGL is not a shop you want to stick around at for long. Culture there is abysmal, although it has improved over the past couple years quite a bit. I don't think that Chicago culture is better than Cleveland at least materially. I've heard that rumor floated around this forum for a while and its just not true they are very comparable according to my buddy. It's funny because they barely have any 2nd/3rd year analysts left, they literally almost all left the firm or were laid off in the past year.

Overall BGL has decent dealflow and is a somewhat recognizable name in the LMM/MM.  6 months to one year there will set you up nicely for a lateral to a Blair, Baird, Piper, or Lincoln International type of firm. If you stay for the full 2 years, exiting to any reputable PE firm with AUM >500m will be nearly impossible. Some CLE LMM PE shops will hire their analysts (<500m AUM). If it's the only offer you have in banking and you're sure you want to do IB or PE, take it and lateral to a better platform after 6 months/a year.  Any other reason it doesn't make sense to stay there unless you have family in Cleveland and want to stay MM sell side for your entire career. CorpDev/F500 strategy, and other non PE exits won't be great because of lack of name recognition outside of finance. So essentially, all you get in return for working at BGL is

1) a crumby culture with grouchy, demanding seniors

2) Little exits outside of financial services

3) Exits within finance are largely going to be confined to other MM sell side banks

4) Base pay has been historically below street but this has been addressed in the past year at least at the base level (now 85k). I always felt the Cleveland based banks got a break for paying below street due to the massive COL discount in America's worst city ex detroit. I don't believe analysts have gotten bonus numbers yet for 2021 so can't comment on that although they have been strong (55k+) historically. 

5) The actual analyst experience is not bad. You'll learn alot. BGL does a lot of deals in the LMM, particularly in a few niche industries. They are very lean and analysts will get into the weeds on the modeling. From a technical standpoint it's not all bad. The problem is reputation, and although you might be a modeling whiz, PE shops won't take a chance on you out of that place when they can hire an equally competent kid coming out of Blair. Finance is a brand game. 

Bottom line is avoid BGL if possible, but if it is truly your last resort take it. I would take nearly any reputable MM firm over BGL including Key/ 5/3rd / Truist / Raymond James / Oppenheimer / Zeigler / Stephens / Cantor / Mizuho / Nomura etc you get the idea. That being said, it's not all bad and the extremely negative reputation it has on this sight is slightly unfair. 

 
Most Helpful

I'll give a bit of a different perspective on BGL as I recently spent two years there as an analyst. You can ignore the comments on other discussions that are clearly HR damage control a few years back. 

Reps: Speaking to this first because I think it's most important. If reps (i.e., building models, direct client interaction, running point on diligence, etc.) are what you're looking for, this is where BGL has an advantage over larger and more structured shops, even in the MM. It's possible to skate through your analyst years (some certainly did), but if you want and can handle a higher level of responsibility, it's yours. It all depends on your approach and attitude. I came in focused on standing out and my teams gave me the opportunities, particularly around modeling. From my understanding, you aren't necessarily given that level the same level of autonomy at larger shops since deal teams are fully staffed and Associates fill those gaps. The EIS team also just closed a deal for $1.6B, so not every deal is a dumpy Midwest manufacturing co.

Culture: Felt like things turned around with my class since we were probably the strongest in years. Senior bankers started putting emphasis around the general well-being of junior bankers to the extent possible in IB. Protected weekends were, in fact, full protected, so you have those to look forward to at least. I had a solid relationship with just about everyone in my group and the bullpen, which makes the late nights tolerable.

Hours: Probably standard relative to other banks at ~80 hours/week, which ebbs and flows as many know. I actually don't think I worked 100+ hours once, but it depends on the group. On the other hand, some analysts consistently worked 60 hours because they didn't care; it just comes down to your approach and skill level. Ultimately, staffing and capacity were well-managed and never got completely out of hand. 

Pay: Slightly below market prior to my class by ~$5K, but pay is market now, if not above market in total comp based on some of the bonuses I've heard from other shops across MM and BB recently. High performers were recognized and compensated accordingly, even during a slower market like the last ~12 months. There's more flexibility for outsized comp and accelerated promotions as a smaller firm. Salary wise, analysts start at $110K now. 

Exit Ops: Speaking from experience, PE funds <$1B are well within reach, though it obviously becomes more competitive towards the higher end. $1B+ has been done too. Generally, in each class, I'd say ~25% place in LMM-MM PE, a few in corp dev, a few lateral, and the rest (~25%) stick around. Banking / BGL will get your foot in the door at most LMM-MM PE shops, then I'd argue it becomes a level playing field as you progress through the rounds and into the superday. I felt advantaged during modeling tests and confident speaking to deals because I knew I had more reps / responsibility on deals than other candidates. 

BGL is a couple years out from leveling with Blair / Baird / RJ, etc., but the opportunity for strong reps and building skill to prepare you for the next level, whatever that may be, is legitimate. The offices (both Cleveland and Chicago) are sweet too. Understand that a few others have had a different experience at BGL a few years ago and haven't been shy about it, but these guys weren't cut out for it at the end of the day. 

Thought the board could use a fresh perspective. 

 

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