Citi Chicago - Exit Opps, Reputation, B-School Placement?
Hi guys!
Does anyone have any information about Citi Chicago's reputation, particularly in the Chicago investment banking scene? Here's what I've heard, but I'd love to hear more from people who've actually worked in Chicago or have an idea of what the firm is like:
- I've heard that for a non-NYC office, the deal flow is extremely strong with analysts getting pretty good execution experience. I've also heard that it's one of the strongest, if not the strongest, Chicago IB office BB or otherwise. Thoughts?
-Anybody have any impressions on their MF/ upper-MM PE placement? I know obviously Chicago IB isn't as ideal for NYC PE as NYC IB, but a couple people I know in the Chicago IB scene say they've sent kids to General Atlantic, KKR, TPG. Does Citi at least do well at placing into GTCR? (I've looked on LinkedIn and the websites for some of the PE sites mentioned and have found analysts from Citi Chicago but cannot tell if this is the exception or the norm) - I've heard that M&A and Global Industrials, Citi's two strongest groups, are executed out of Chicago. Does this mean the office overall is very strong?
Any info would be great. Thanks so much, I appreciate it!
Citi Chicago is a pretty good place to be as far as Chicago IB is concerned (or at least it used to be a few years ago, my info is dated). Cary Kochman is a big hitter and heads the office, just google his name. I remember hearing someone going to a big Texas firm (might have been TPG or Lone Star, can't remember).
Thanks for your input! Yeah, from some of their recruiting materials, they say they've send a guy to TPG a while ago. I've also heard of Cary - used to work with Ken Moelis at UBS back in the day, seems extremely legit.
And so in your opinion, would working at Citi Chicago provide me ample enough opportunities for PE placement like an NYC BB would? Obviously, it'd be unreasonable to assume that Citi Chicago is like Goldman TMT or MS Tech, and networking for NYC PE firms would be another issue, but I'm trying to gauge whether one would be at a serious disadvantage starting their IB career there.
It's a big boy place to work.
What do you mean by that?
Lot of execution, but it's a sweatshop.
Did an internship in Chicago BB. Have a friend working at Citi Chicago now. I think you heard your information from someone who's probably selling Citi Chicago to you. Don't buy into the marketing, it is not where you want to be for placement.
Hit rate with placement there is far less than half whereas the actual top shops in Chicago like MS place 100%. Just because they sent a guy to TPG (once upon a time it sounds like) doesn't mean anything. The top tier Chicago PE funds will hire most of their kids from NY IBD and the top Chicago shops. And you're right, just in general, working at a Chicago BB (except for the best offices) is going to give you less of a shot for PE than working at an equivalent role in NY. JPM NY is a great place to be, JPM Chicago......not so much.
CS, MS, Moelis and Greenhill are probably the best places to be in Chicago for buyside placement. Barclays and Lazard probably aren't bad either. Citi, JPM, DB, GS, etc. are frankly just a step below in terms of placement
Interesting - I'd heard the exact opposite of your recommendations (that CS and MS weren't great in Chicago but GS, JPM, Citi were). If I may ask, do you mind sharing when you interned in Chicago and where you are now?
For that matter, does your friend not enjoy it there? I went on an office visit and morale seems high. Again, maybe the marketing...
I mentioned this earlier - my knowledge is dated... That being said, what you are saying does not align with what I know (or knew) and fits much better with what JohnDoe251192 said. For example, unless there have been some big changes at JPM Chicago, your characterization is off - it's a strong Chicago office that does a lot of deals and execution. Placement is solid. I also don't get how you can toss out Citi for sample size issues but include GHL as a strong placement office - they have like 5 analysts (not 5 analysts per class - 5 analysts total. Or like 3 or 4 idk, whatever, it's small).
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