Help for 2019 SA - HL, Guggenheim, Barclays, RBC, CS
I fortunately received offers in NYC from: HL (NOT restructuring), Guggenheim, and Barclays. Also in the process with RBC (confident I can get M&A which I hear is their best for exits and does no pitching) and reaching out to CS for a possible accelerated process.
What I think I know: HL has crazy dealflow in the MM space but rough hours and mostly lower MM PE exits at best. Guggenheim, growing fast and sometimes considered an EB. Some analysts I met were extremely chill, some honestly seemed really socially awkward, while the MDs had crazy egos (understanding since they're all poached from top BBs). Barclays I hear has been pretty stagnant in terms of growth, but still a BB with good hours and will consistently stay in the top 7 of league tables. RBC to me clearly has the best culture and heard compensation is actually in line with EBs if you are a top performer. Also new-ish M&A group that's growing fast, but will it actually become a BB in the next 5 years with better exits? CS, I actually don't know anything about but guessing it's similar to Barclays.
Right now, this is my preference based on exits and culture but please let me know if I have it all wrong: Barclays > CS/RBC (assuming M&A) > Guggenheim > HL
Dudeee how can someone with so many offers get the prefs so wrong lol. CS > Barclays = Guggenheim > HL > RBC RBC is not a BB, only does deals because of its financing capability. Please do not go to RBC. Seriously, it's most people's backup choice and also, poor exits and most analysts are from no name schools.
I've been on WSO a lot lately, and honestly you are still a student who didn't even summer in banking yet. If anything, the history of your posts and actual bankers' responses to your posts have been that you honestly don't know much about the industry at all and should not be giving anyone adivce... so with all offense, I will not take any of your advice and I hope no one else does either. Also, I mentioned my preference is based on exits and CULTURE, not exits and prestige. Not sure why you have such a hard on for Guggenheim...
You think any actual bankers visit this site? It's all kids like us who are about to summer giving each other advice
If anything, people on WSO have a hard on for RBC. I have an offer from one of the banks in your list, and I surely will not be shopping it for RBC...
i mean, the student isn't wrong. has anybody ever taken RBC over Houlihan Lokey or CS or Guggenheim lol? nope
Aaayyy
Seriously? Take a look at RBC's M&A, CME, Tech, Industrials, or HC groups.. most analysts are Yale, Wharton, Michigan etc. Also OP, just so you know RBC has a group placement process. Nothing is guaranteed for the summer, however, from what I've heard the firm is happy to let you rotate to a new group after you get the full time offer. Let me know if you have any questions about RBC.
I love when people are like "I'm sure I can get M&A", when they really have no clue. Thank you for this post.
lmao you must work at RBC. Sucks to be you. yes I'm sure Yale's, Wharton's and Michigan's top kids aim for RBC, and I'm sure anyone on Wall Street would rank RBC on par with CS do whatever you want, it's your life but I put my money on it that you only have an offer from RBC and are trying to build up your confidence or you're completely clueless about the industry
CS is slightly better than Barclays and Guggenheim (on average). CS, Barclays, and Guggenheim do large cap deals, while HL is a top MM M&A shop. All four banks are great and heads and shoulders above RBC.
Agreed. RBC sucks. Definitely not a BB
Hey how is your process with CS going so far? I've talked to a VP and MD there and it seems like regular interviews will be late summer. Do you know anything about their accelerated process like if it's only for diversity or target students and how does someone get into that process? Thanks!
Hey! I actually have no idea how CS is gonna work. I'm planning on reaching out to a recruiter on Monday to see if I can get an early interview process, so I'll let you know what happens for sure. I'm not too optimistic about anything happening since I've also been told they don't start until late summer
Are you just going to straight up ask for an interview, or ask if there's an accelerated process that you can get involved in? I go to a non-target and I'm not sure how I should approach this.
Take CS if you can get it. Otherwise, choose between HL or Barclays.
Good advice! First choice should be CS. I'd choose Barclays or Guggenheim over HL M&A, just for large cap experience and exits. Choose Barclays over Guggenheim depending on what groups your Barclays contacts are in (Consumer, P&U, HC), and choose Guggenheim if your Barclays contacts aren't in those top groups. But definitely choose HL over RBC (no brainer!). RBC shouldn't even be on your list for consideration...
I doubt OP is actually choosing between these banks. RBC is a complete joke. If you like doing financing, I'm sure you can get that experience at CS or Barclays, also banks with large balance sheets. RBC would never get a lead role in an M&A deal and your exits will be nonexistent.
asdkjfjasd Nice burner account lol. Did you not even get through the resume screen at RBC or something? Jesus man
Current analyst at a BB. Try for CS, that should be your #1 choice no matter what unless you can get P&U at Barclays. #2 choice should be Barclays in terms of "prestige and exits." But when I went through recruiting there, I'm pretty sure ECM/DCM and some other weird shits like something origination/syndicate or structured products were included in the group placement process, so I'd be careful selecting Barclays if you do not have strong alumni network in any of the coverage groups. #3 choice should be Guggenheim unless you really want to bet yourself and think that you can get the M&A group at RBC. Have a buddy from college in that group and he does zero pitching and has insane deal flow believe it or not. In general, Guggenheim is a better regarded firm than RBC, so I'd personally take that over RBC since group placement process anywhere is so much politics (school/frat/etc). Last choice should be Houlihan, they have great deal flow but exits only to lower MM PE at best.
Just to reiterate, exit ops are best at CS/Barclays, then Guggenheim (they actually have some great HF exits on par with BBs on top of solid MM PE exits), then RBC/HL (lower MM at best). Since some college students seem to be trashing RBC on this forum, I'll say this: Yes, your exits are pretty nonexistent in most groups, but I personally know analysts in the M&A and P&U group who have gone / will go to Blackstone, Leonard Green, Providence Equity, HIG, Macquairie Infra, and Morgan Stanley Infra PE. But OP, fucking take Barclays or CS over RBC unless you think "culture" really is that important to you. I know everyone knows that culture and hours at RBC are the best on the street, but look man it's banking (it sucks everywhere when youre working 80-90 hours a week).
Congrats on landing offers early in the process. Based on my understanding, you will be better positioned for MF PE recruiting with greater deal exposure and better other exit ops coming out of CS, Barclays and Guggenheim than HL or RBC as jmcbanker123 mentioned. I wouldn't wait too long to accept Barclays or CS if I were you since you will have to leverage your network to end up in strong coverage groups as far as Barclays or CS are concerned but that's just me. Besides, had it been HL RX it would have been a different case but from what I hear you're better off at CS or Barclays than at HL and RBC in terms of experience and exposure .
Have you made a decision yet?
Non odio asperiores non aut. Quam quis adipisci iusto. Maxime suscipit aut aut fugiat vero recusandae eum.
Enim numquam modi sint voluptate maxime. Omnis soluta adipisci corrupti dolor. Molestiae veritatis veritatis quia explicabo est quia qui. Necessitatibus dolore sit architecto sint corrupti.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...