Goldman CRMA vs. IBD at Nomura

nihenhwai's picture
Rank: Chimp | 10

I recently went through the recruiting process at my school and received 2 offers, one for Goldman CRMA and one for IBD at Nomura. Which one should I take if the ultimate goal is banking or S&T at a BB? I'm also "on-hold" for BAML. Should I continue to pursue that? Thanks so much for your input!

Comments (25)

Aug 5, 2013

I wouldn't pass up the chance to have GS on my resume

Aug 5, 2013

Go with your heart

Aug 5, 2013

S&T and banking are totally different paths (its either you like one or the other). Front office >>>>>>> middle office (regardless of firm). I would say if you are interested in banking..go with Nomura

btw. what opportunity type is this (SA/FT?) and is it for this year or next? I thought recruiting were done? You mentioned its based on OCR...i thought recruiting doesn't start till late Aug/Sept?

BAML - what position?

"Striving for excellence motivates you; striving for perfection demoralizes you"

    • 1
Aug 5, 2013

S&T and banking are totally different paths (its either you like one or the other). Front office >>>>>>> middle office (regardless of firm). I would say if you are interested in banking..go with Nomura

btw. what opportunity type is this (SA/FT?) and is it for this year or next? I thought recruiting were done? You mentioned its based on OCR...i thought recruiting doesn't start till late Aug/Sept?

BAML - what position?

"Striving for excellence motivates you; striving for perfection demoralizes you"

    • 1
Aug 5, 2013

S&T and banking are totally different paths (its either you like one or the other). Front office >>>>>>> middle office (regardless of firm). I would say if you are interested in banking..go with Nomura

btw. what opportunity type is this (SA/FT?) and is it for this year or next? I thought recruiting were done? You mentioned its based on OCR...i thought recruiting doesn't start till late Aug/Sept?

BAML - what position?

"Striving for excellence motivates you; striving for perfection demoralizes you"

Aug 5, 2013

S&T and banking are totally different paths (its either you like one or the other). Front office >>>>>>> middle office (regardless of firm). I would say if you are interested in banking..go with Nomura

btw. what opportunity type is this (SA/FT?) and is it for this year or next? I thought recruiting were done? You mentioned its based on OCR...i thought recruiting doesn't start till late Aug/Sept?

BAML - what position?

"Striving for excellence motivates you; striving for perfection demoralizes you"

Aug 5, 2013

S&T and banking are totally different paths (its either you like one or the other). Front office >>>>>>> middle office (regardless of firm). I would say if you are interested in banking..go with Nomura

btw. what opportunity type is this (SA/FT?) and is it for this year or next? I thought recruiting were done? You mentioned its based on OCR...i thought recruiting doesn't start till late Aug/Sept?

BAML - what position?

"Striving for excellence motivates you; striving for perfection demoralizes you"

Aug 5, 2013

This is for off-cycle internship positions since recruiting at my school works a bit differently. The position at BAML is for banking. The other option is to take both offers, Nomura and GS. One is in the fall and one is in the winter so they don't overlap.

    • 1
Aug 5, 2013
nihenhwai:

This is for off-cycle internship positions since recruiting at my school works a bit differently. The position at BAML is for banking. The other option is to take both offers, Nomura and GS. One is in the fall and one is in the winter so they don't overlap.

Are you serious? Why are you wasting our time? Take both, decide what you like, take the full time offer.

    • 1
Aug 5, 2013

I'm still in school and I don't know if it's a good idea to take so much time off, especially since I won't be able to complete my double major this way... I think I'd rather choose one or the other.

Aug 5, 2013
nihenhwai:

I'm still in school and I don't know if it's a good idea to take so much time off, especially since I won't be able to complete my double major this way... I think I'd rather choose one or the other.

More work experience will, imo, always beat a double major, especially if it is with nomura and gs. Unless you would have to drop the econ major from your philosophy and econ double major, you will be more than fine. The work experience will help you later.
How did you get both internships?

Aug 5, 2013

Thank you! This definitely provides good perspective. Should I continue to pursue the BAML offer as well?
As for how I got both, my school is recruited from pretty heavily, so that was probably it?

Aug 5, 2013

Disclaimer: Not in IB or banking.

That said, given what I have read on these forums, I would think you are an idiot to pass up Nomura IBD to take a back office job at Goldman Sachs just for the name.

Aug 5, 2013

Dude, in this day & age, with all of the recent consolidation in the industry & the increased competition to get in, I would take both offers from Nomura & GS & get 'em on my resume. The IBD role at Nomura is obviously more highly coveted & IMO more interesting, but you can't discount the CRMA role at GS, which is increasingly more important to banks down the road. Worst case, in the future, you will have CRMA background as the supply of jobs will be greater here. As for S&T vs IBD, they are different beasts - can't compare, so pick one if you can. The BAML role sounds ideal, but don't lose out on the others if this one may not materialize. Good luck

Aug 5, 2013

Disclaimer: I live and go to a top target school in Australia, and although I'm on a student exchange in the US for 2013 I'm currently in Australia for the summer.

Like you OP, I considered both banking and S&T. I recently finished recruiting for summer internships here in Australia, and received offers from Deutsche Bank S&T (Asia) and Nomura IBD (Sydney). I chose to accept the offer from Nomura because I'm more interested in IBD than S&T (although aspects of both jobs appeal to me, I agree with crayb above and believe that people usually prefer/are more suited to one or the other). One of the reasons I picked Nomura IBD is because Nomura is killing it right now and is deliberately and intelligently growing their business worldwide, and are also focused on beefing up IBD- if you are interested in IBD, seriously consider your Nomura offer because right now and going forward, it'll be a good place to be (in my opinion).

That being said, take both and single major/take an extra semester to finish school if you can- will definitely help you more when it comes to finding a full-time job than double majoring will.

Aug 5, 2013

You are insane if you do not take both opportunities..........

Aug 5, 2013
yeahright:

You are insane if you do not take both opportunities..........

^This. Don't underestimate how lucky you are to have both opportunities- your resume can show that you were a strong enough candidate to do both IBD and work at GS. Absolutely definitely worth postponing graduation a little or dropping a second major. Would be crazy not to do both.

Aug 5, 2013

Agreed as well with your second point. A second major is POINTLESS.

Aug 5, 2013

People sometimes forget that you go to school to get a job and not just to get a piece of paper.
Take both internships. If you are lucky, you may end up receiving a FT offer at the end of your fall internship and withdraw for the second one. If you are not (or you don't like it), you will still have a second chance.
Congrats on your offer.

Btw, can't you leverage your offers to get something fro BofAML?

Aug 5, 2013

Thank you!
Would doing IB at BAML be better than taking either (or both) other offers?

Aug 5, 2013

Well, if you can do them both it will be better. IMO, IB BAML > IB Nomura > CRMA GS. The best combo will probably be IB BAML + IB Nomura since they are both FO position.
It is also true that if you like CRMA at GS, it will give you enough money to have a quite confortable life with a better life balance...

Aug 5, 2013

Just saw that they don't overlap. What a waste of time, this thread. Take both offers, obviously. Work experience trumps education.

Aug 5, 2013

Thanks everyone for your help! I've decided to take both offers, Nomura and Goldman, as many (all?) of you recommended. This was my first time posting on WSO and I really appreciate the support and insight given by everyone. Thanks again!

Aug 5, 2013
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