Citi or Guggenheim Partners ?

columbia2013's picture
Rank: Chimp | 2

I am choosing between offers at Citi IBD and Guggenheim Partners IBD. Which would you choose and why? This is for a summer internship in IBD.

Evaluating Multiple Job Offers

Having to choose between multiple job offers is always a good problem to have. Here are some things to consider to help make a decision between opportunities at Citi in Chicago and Guggenheim in NYC:

  • BB (Citi) vs Boutique (Gugg)
  • Chicago vs New York City
  • Industrials (Citi) vs Tech/Media (Gugg)
  • Talk to past SAs at both about their experiences
  • Reach out to your network to learn more about both firms
  • Consider culture fit

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Comments (21)

Feb 14, 2012

haha junior at a target

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

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Feb 14, 2012

take citi

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

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Feb 14, 2012
Feb 14, 2012

Don't want to hijack the thread but one question - how will bonuses differ in the next few years between boutiques like Guggenheim and BBs? I know it's tough to predict the future but I haven't heard anything about boutiques cutting back on cash bonuses....

Oct 1, 2012
Beachbum89:

Don't want to hijack the thread but one question - how will bonuses differ in the next few years between boutiques like Guggenheim and BBs? I know it's tough to predict the future but I haven't heard anything about boutiques cutting back on cash bonuses....

insider at Guggenheim said previous 1st year analyst bonus was 50-60K. top bucket at bulges was 50K...so on par, if not better than bulges

boutiques like Guggenheim, Moelis, Centerview, Evercore, Gleacher, Greenhill etc. will always pay more than bulges (even goldman said they are cutting back compensation with the new appointed CFO!)

Feb 15, 2012

Hi columbia2013, when did you get this offer from citi?

Mar 4, 2012
Feb 15, 2012

I'll be the odd one out and say go with Guggenheim.

Citi Chicago is not the strongest and if memory serves, a lot of their bankers left for CS / BarCap Chicago.

Feb 15, 2012

Whiskey, can you elaborate on why you would choose Guggenheim? Curious about this as well.

Best Response
Feb 15, 2012

Guggenheim over the years brought on board some kick ass bankers. While their analysts work very hard, its not a sweatshop. They are also compensated quite well compare to most BBs out there right now.

Culture is also very good. They understand modeling can be taught but personalities cannot, so rest assured, if you have an offer from them, they are confident you will fit in.

Of course with every pro, there's a con. At Guggenheim, the name is not as established as say, Moelis, but it definitely is building up their investment banking brand.

Citi obviously is a BB in the US and globally. That said, as an analyst, I think its more important to focus on the fit rather than the difference between a BB and a very reputable shop like Guggenheim. I would say you should go with Citi in NYC, but since it is their Chicago office, this is a no brainer to me.

Citi Chicago as mentioned in my earlier post really downsized over the past several years. A lot of their talent left but that does not mean you won't have a solid analyst experience.

Personally, I would have taken Guggenheim as they are a lot more selective and plus, you have the "NYC Edge."

Good luck.

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Feb 15, 2012
Whiskey5:

Guggenheim over the years brought on board some kick ass bankers. While their analysts work very hard, its not a sweatshop. They are also compensated quite well compare to most BBs out there right now.

Culture is also very good. They understand modeling can be taught but personalities cannot, so rest assured, if you have an offer from them, they are confident you will fit in.

Of course with every pro, there's a con. At Guggenheim, the name is not as established as say, Moelis, but it definitely is building up their investment banking brand.

Citi obviously is a BB in the US and globally. That said, as an analyst, I think its more important to focus on the fit rather than the difference between a BB and a very reputable shop like Guggenheim. I would say you should go with Citi in NYC, but since it is their Chicago office, this is a no brainer to me.

Citi Chicago as mentioned in my earlier post really downsized over the past several years. A lot of their talent left but that does not mean you won't have a solid analyst experience.

Personally, I would have taken Guggenheim as they are a lot more selective and plus, you have the "NYC Edge."

Good luck.

Citi just essentially brought over all of UBS Chicago's senior bankers.

Also, why did OP delete his reference to which office he's looking at? Kinda changes the question a lot...

Feb 15, 2012
Whiskey5:

Guggenheim over the years brought on board some kick ass bankers. While their analysts work very hard, its not a sweatshop. They are also compensated quite well compare to most BBs out there right now.

Culture is also very good. They understand modeling can be taught but personalities cannot, so rest assured, if you have an offer from them, they are confident you will fit in.

Of course with every pro, there's a con. At Guggenheim, the name is not as established as say, Moelis, but it definitely is building up their investment banking brand.

Citi obviously is a BB in the US and globally. That said, as an analyst, I think its more important to focus on the fit rather than the difference between a BB and a very reputable shop like Guggenheim. I would say you should go with Citi in NYC, but since it is their Chicago office, this is a no brainer to me.

Citi Chicago as mentioned in my earlier post really downsized over the past several years. A lot of their talent left but that does not mean you won't have a solid analyst experience.

Personally, I would have taken Guggenheim as they are a lot more selective and plus, you have the "NYC Edge."

Good luck.

Holy shit. There whiskey goes again talking out of his ass. You CLEARLY have no idea what you're talking about.
A lot of talent at Citi left? If you know anything, you would know that several big shots from UBS left to join Citi less than a year ago. By big shots, I mean the likes of head of global M&A at UBS, head of diversified industrials, etc. If anything, NOW is the time to join Citi Chicago. Deal flow is great and morale is high.

With that said, this is an obvious choice depending on your preferences. Do you want to work in Chicago? Do you want to work in industrials? Go to Citi. Otherwise, if you want to work in NY, or in tech/media, go to Guggenheim. I would choose Guggenheim, but that's because I'm not a big fan of the BB's and I hate Chicago.

Since this is for a SA position, I would talk to the people and then go from there. What is the FT conversion rate? What's the experience like as a SA? etc. You should definitely try to get a hold of some past SA's (especially at Gugg), and ask about their experience.

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Feb 15, 2012

I was given the information by a very high executive at Citi HQ, so yeah I guess I really don't know what I'm talking about.

Feb 15, 2012
Whiskey5:

I was given the information by a very high executive at Citi HQ, so yeah I guess I really don't know what I'm talking about.

HAHA yeah, ok buddy. Did you call up Vikram to confirm?

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Oct 1, 2012

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Feb 16, 2012

gugg

Oct 1, 2012

What would you choose for FT? Both offers in NYC.

Oct 9, 2012

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Oct 9, 2012

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Oct 15, 2012
Comment
Oct 15, 2012