Credit Suisse Group Culture

Hi Everyone,

Was just wondering if anyone could share insight as to the culture of different groups at CS - are any known to be exceptionally sweaty, fratty, ect? Ive seen a few threads about rankings but none about the actual culture of the groups so I'd figure this thread could be helpful.

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Comments (41)

  • Analyst 1 in IB - Ind
Dec 9, 2020 - 2:18pm

2nd yr at CS, for reference:

M&A: sweaty and nerdy

Sponsors: not too sweaty (but variable), used to be very bro-y but not sure now

TMT (split up, but I still think of them as one group): pretty fratty, lighter side on hours but can get bad

GIG: pretty sweaty and pretty fratty

C/R: sweaty but chill analysts 

Healthcare: not too much work and chill

FIG: nerdy and sweaty 

RE: chill and not too much work

ECM: seems pretty chill for people, hours are variable but average are pretty good

  • Associate 1 in IB - Ind
Dec 11, 2020 - 10:20am

Recent exits include 2x Blackstone, KKR, Centerbridge and some other good shops. Keep in mind class size is small so per capita even more impressive. Not sure on return rate in group

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  • Intern in IB - Gen
Dec 10, 2020 - 3:52pm

Could you elaborate on the difference between the two split-up TMT groups? How big are they and how have they been doing?

  • Intern in IB - Gen
Dec 11, 2020 - 5:04am

Bump. Would love to hear how the two groups are doing post-split. Any difference in deal flow, exits, culture, etc?

  • VP in IB-M&A
Dec 9, 2020 - 9:33pm

Had a chance to collab with CS SF tech guys and they were pretty chill and delightful to work with. Their hours didn't seem to be light though, especially this year. 

  • Summer Associate in IB - Gen
Dec 15, 2020 - 9:28am

Don't think much has changed. Close friend did her summer gig there this year. She was working from home but her hours was 100+ for 10 weeks and had to work until 2 days before Fall semester began. Deal flow must be crazy this year. 

  • Prospect in IB - Restr
Dec 11, 2020 - 2:46am

Can anyone share input on the levfin and industrial teams in terms of culture and exit opps? Any colour would be greatly appreciated

  • Analyst 1 in IB - Ind
Dec 11, 2020 - 9:24am

NYC. LevFin is a bit overrated I think and exits are fine. LevFin is often mixed up with Sponsors, which has great exits and handles all the modeling for PE firms. Culture is fine. Hours not bad, people are on the nerdier / more intense side, including analysts.

GIG has better exits than LevFin, especially the last few classes. Sponsors / M&A are consistently the best, probably followed by TMT then GIG, but lots of variability within the class since it is a larger group (the best few analysts will exit really well, but some may not exit, unlike FSG in which the best analysts place really well and the worst analysts normally still exit). GIG has tougher hours on average, but is a bigger group so there is less of a "one work culture" and probably depends on which team you work with. Frattier / more extroverted analysts 

  • Intern in IB-M&A
Dec 11, 2020 - 11:00pm

Far fetched question here but could anyone provide insight as to overall NYC office outlook for the next decade. Heard USA operations will be downsizing, but also just an intern 

Most Helpful
Dec 12, 2020 - 12:06am

The American investment banks will continue to gain domestic market share, but banks like Barclays and CS will not wind down operations anytime soon, if ever. The chief reason is that these banks' strategies revolve around providing a multifaceted profile of offerings to their clients, many of which are inherently complementary. For instance, Credit Suisse's CEO has enumerated time and again that their investment bank is crucially important to their core wealth management business, as often times many of these clients also require capital raising, IPOs, M&A advice (e.g. CS just brought in the former head of IB at BAML to run a new M&A wealth management group), etc.

CS also has one of the best leveraged finance franchises on the street, a function of their strong legacy of senior bankers from DLJ. With the trillions of dollars in private equity dry powder about to be deployed in the coming years, there is a huge market for originating, underwriting, syndicating, and trading that debt. LevFin is their bread and butter, so it wouldn't make a lot of sense to give up their industry-leading position.

Management has also explicitly laid out plans to increase their "capital light" M&A business in the coming years.

Back to your question: Yes, if you want to be a career banker you may want to throw slightly more weight towards the domestic banks; however, in my opinion this is a moot point at the junior level. European Banks with strong IB platforms aren't going anywhere anytime soon because it would disrupt their business model and their respective industry-leading niches in the U.S. (e.g. BarCap NR, CS Sponsors). I was worried about the same thing back when I recruited because of all of the pessimistic articles published about European Banks, but I spoke with the former COO of BarCap/CS and others high up in management at Morgan Stanley/Goldman/etc, and all of them told me that banks like BarCap/CS winding down operations was extremely unlikely and shouldn't affect my decision at all. Hope this helps.

  • Intern in IB - Gen
Dec 11, 2020 - 11:34pm

Anyone have any color on the LA office? Heard it's totally autonomous from NYC and runs all of its own execution.

  • Associate 2 in AM - Other
Dec 17, 2020 - 12:09am

Vast majority of exit ops outside of random opportunities people find will be either capital markets/finance roles at specialty finance companies or funds that issue securitizations or asset focused credit investing roles either private or in ABS/RMBS.

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