Help with Offers: Blackrock PAG vs BMO Capital Markets IB

babaganouish's picture
Rank: Chimp | 2

I'm struggling deciding between a BlackRock PAG (Portfolio Analytics Group) internship and a BMO Capital Markets IB generalist position for the summer.

Long-term (i.e. for full-time recruiting) I plan on doing banking. However, though BlackRock is Asset Management, it definitely has a better name and pays much better (i.e. around $8k-10k more for the summer). BMO is pretty good middle market but doesn't have the best rep. Considering that I want to do banking (M&A) post-grad, what would be the best option. Would it be pretty difficult to secure a banking job after doing an asset management internship?

Any advice at all would be appreciated, thanks.

Comments (20)

Feb 26, 2012

If you want banking why would you want Blackrock?

Blackrock will not give you an edge for FT recruiting. Completely different roles.

Feb 26, 2012

PAG is back-middle office. Who gives a fuck about the name?

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Feb 26, 2012

Bmo, then leverage the experience got full time come fall. Black rock is irrelevant to your long term goal

Feb 26, 2012

Without a doubt go with BMO. This shouldn't even be a question. BMO is a good place that is growing. You can def leverage BMO to a BB during ft while BR Pag not so much. PAG does not have a lot of transferable skills to banking and it has a lot of technical work.

Feb 26, 2012

Are you a junior? Then since you want to do IBD fulltime after graduation, you definitely should take BMO. If you're not a junior, then still go with BMO, but it's not quite as emphatic.

Note that FT recruiting (i.e. looking for an IBD role in the fall during senior year) is incredibly competitive since most banks fill their entire analyst class out of their SA's now, so take BMO to have the greatest chance of being in IBD post grad.

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Feb 26, 2012

Don't listen to Flake, the guy has been hating on BR. Probably he got rejected or something. But base on my personal experience, I know a friend who did BR IT for the summer and he ended up with a job at Barcap S&T. Plus, why stay in sell side when you can be on the buy side. All the investment banks are in the decline. The margin for IBD and S&T is going to decrease from now on. You honestly don't need a college degree to do banking. Any high school student can do it.

Feb 26, 2012
Spectro:

Don't listen to Flake, the guy has been hating on BR. Probably he got rejected or something. But base on my personal experience, I know a friend who did BR IT for the summer and he ended up with a job at Barcap S&T. Plus, why stay in sell side when you can be on the buy side. All the investment banks are in the decline. The margin for IBD and S&T is going to decrease from now on. You honestly don't need a college degree to do banking. Any high school student can do it.

You really sound like an expert. Your argument right there just won me over.

Feb 26, 2012

^probably works at blackrock

Feb 26, 2012
JustADude:

^probably works at blackrock

wrong, I work at a top 15 investment bank ( think of BNP, RBS, RBC, Nomura) for S&T. I like the work, but you are just too depended on your clients. If your clients don't trade, you are basically waiting to get laid off.

Feb 26, 2012
Spectro:
JustADude:

^probably works at blackrock

wrong, I work at a top 15 investment bank ( think of BNP, RBS, RBC, Nomura) for S&T. I like the work, but you are just too depended on your clients. If your clients don't trade, you are basically waiting to get laid off.

How's trade support going?

Feb 26, 2012

It would be perfectly fine to pick an asset management internship over a banking one, and it wouldn't be hard to get banking interviews after if you decided you didn't like it. However, you have to make sure that you are actually on the investing or research side of asset management, and that's not what PAG does. It would be a different story if it was blackrock PMG.

Feb 26, 2012

PAG isn't FO. PMG is FO at BlackRock. Take the BMO IBD SA gig. Hell, even if you got an offer for BlackRock PMG, I would've still advised you to go with the BMO offer since you want to do banking full-time.

Feb 26, 2012

honestly, I think if you want a more recognizable name in and outside finance, go with Blackrock. Blackrock gets respect everywhere and you can absolutely get FT at a BB with that on your resume. BMO is mostly just known within the ib world.

Feb 26, 2012
phillymofo:

honestly, I think if you want a more recognizable name in and outside finance, go with Blackrock. Blackrock gets respect everywhere and you can absolutely get FT at a BB with that on your resume. BMO is mostly just known within the ib world.

Did you fucking read what his goal was? He wants to do IB, so why wouldn't he go with something that's "known within the ib world"?

Go warm the bench.

Feb 26, 2012
Flake:
phillymofo:

honestly, I think if you want a more recognizable name in and outside finance, go with Blackrock. Blackrock gets respect everywhere and you can absolutely get FT at a BB with that on your resume. BMO is mostly just known within the ib world.

Did you fucking read what his goal was? He wants to do IB, so why wouldn't he go with something that's "known within the ib world"?

Go warm the bench.

Wow, you really can't handle someone with a different point of view than yourself. You must have some sort of complex judging by the fact that you get off on telling people off on internet forums. BTW - I think that both offers are great. I was just giving another point of view since this guy Flake has completely hogged the post with his already.

Feb 26, 2012

^Disagree, BMO has been doing quite well as of late and has been killing it in Mining and other Natural Resource sectors. Both their retail and their investment bank are expanding aggressively into the U.S.

Feb 26, 2012

BMO also just laid off some bankers

http://www.canada.com/business/fp/Capital+Markets+...
and your nasty Flake

Feb 26, 2012
phillymofo:

BMO also just laid off some bankers

http://www.canada.com/business/fp/Capital+Markets+...
and your nasty Flake

<3

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Feb 26, 2012
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