IBD - Credit Suisse (NY) vs. Citi (NY)

ES2121's picture
Rank: Chimp | 11

For a generalist offer to IBD, which is overall "better" in terms of prestige, culture, etc:

Credit Suisse (New York)
Citi (New York)

I have until the 22nd to decide on which offer to take, and I'm split!

If you are feeling uber helpful, it would be great if you could rank the top two or three groups in IBD for each firm as well!

Region: 
United States - Northeast

Comments (38)

Feb 12, 2012
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Feb 12, 2012

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Feb 12, 2012
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Feb 12, 2012

They're the same thing dude. Go with the people you like.

Most people on wso don't really know what they're talking about. When you start working you'll realize a lot of the "advice" on this board is just entertaining noise.

Talk to people at each firm. They may be biased but they're not still hs/college students.

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Feb 12, 2012
audemarspiguet:

They're the same thing dude. Go with the people you like.

Most people on wso don't really know what they're talking about. When you start working you'll realize a lot of the "advice" on this board is just noise.

Talk to people at each firm. They may be biased but they're not still hs/college students.

Haha started typing my post before seeing yours. Agree 100%

Feb 12, 2012

Citi = Solomon Brothers
CS = First Boston + DLJ

Hard to go wrong with either firm - Citi has a great M&A group, CS a top Sponsors group. Citi was better prior to 08, but now CS probably has the edge. Citi's making a pretty decent comeback, though, so by the time you start full-time next summer, who the hell knows?

Go visit each office and see if you like the people there. That's really all that matters.

Feb 12, 2012
Feb 12, 2012

Team matters. People matter. Whom you like more/better fit is hugely important. Trust me. Visit and decide then.

Feb 12, 2012

Thanks everyone for the thoughtful responses; It looks like I have a decision based on people more than prestige, so I have some conversations to initiative.

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Feb 12, 2012

this has nothing to do which exit ops or league tables but i'd choose citi for its real estate. not of fan of cs's "campus" at madison square

Feb 12, 2012

I go people first but CS is in a dark place right now from a comp perspective. Probably not a huge issue at the analyst level though.

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Feb 12, 2012

Whoever threw monkey shit at us = works at Citi.

It's was obviously not a serious post. It depends on a lot of factors. Like the above posters said, which team did you get along better with? Is there a group that you're "particularly" more interested in? What school do you go to (which firm has a bigger alumni network)? Do you have connections anywhere that could help you get into a group of your choice? There is not clear cut answer like you're making it sounds like.

But most importantly: Do you speak German or French?

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Feb 13, 2012
Yohoo:
Plastic Cup Boys:

Whoever threw monkey shit at us = works at Citi.

It's was obviously not a serious post. It depends on a lot of factors. Like the above posters said, which team did you get along better with? Is there a group that you're "particularly" more interested in? What school do you go to (which firm has a bigger alumni network)? Do you have connections anywhere that could help you get into a group of your choice? There is not clear cut answer like you're making it sounds like.

But most importantly: Do you speak German or French?

No shit genius, how is speaking German or French should be the most important concern of the OP?

I know people at CS who only speak English. Knowing French or German has never been an issue to the advancement of their career. CS post its annual report in English, French, and German for a reason. English will get you anywhere.

Even that curry head got the CEO position at DB. That should have never happened. Such an insult to the Aryan race.

You're a fucking idiot. How did you not detect an ounce of sarcasm in that?
And also, learn how to use the website. Stop replying by quoting the OP 3 times. You should be banned from this website for being such a dumbass.

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Feb 12, 2012

I would choose CS but ya something to consider is their compensation problems

"If you survive to my age and you rack up a CV like mine, you can look at HR and say, "Fuck you. I don't try out."- Eddie

Feb 13, 2012

For a generalist offer to IBD, which is overall "better" in terms of prestige, culture, etc:

Credit Suisse (New York)
Citi (New York)

I have until the 22nd to decide on which offer to take, and I'm split!

If you are feeling uber helpful, it would be great if you could rank the top two or three groups in IBD for each firm as well!

No one would remember the Good Samaritan if he'd only had good intentions; he had money as well.

Feb 13, 2012

Greenwich street where Citi's office is is a very nice and chill area close to FiDi where you could cheaper living accomodations. Even though ill be working in Midtown for the summer I want to live by Citi's office bc it is nice.

Just a thought

Feb 13, 2012

Whoever threw monkey shit at us = works at Citi.

It's was obviously not a serious post. It depends on a lot of factors. Like the above posters said, which team did you get along better with? Is there a group that you're "particularly" more interested in? What school do you go to (which firm has a bigger alumni network)? Do you have connections anywhere that could help you get into a group of your choice? There is not clear cut answer like you're making it sounds like.

But most importantly: Do you speak German or French?

No one would remember the Good Samaritan if he'd only had good intentions; he had money as well.

Feb 13, 2012

I'd do CS if you don't know the groups and don't have any strong connections at either. The banks are too large to say they have a single culture.

C and CS are pretty comparable in most regards, but I think CS is less likely to undergo layoffs/slash bonuses going forward than C. Mike Mayo's "Exile on Wall Street" makes a compelling case for Citi leading the pack in risk taking, while CS already abides by stricter Swiss regulations.

But really, they are not different enough to worry about. Location might also matter: do you prefer Tribeca or Midtown?

Feb 13, 2012
West Coast rainmaker:

I'd do CS if you don't know the groups and don't have any strong connections at either. The banks are too large to say they have a single culture.

C and CS are pretty comparable in most regards, but I think CS is less likely to undergo layoffs/slash bonuses going forward than C. Mike Mayo's "Exile on Wall Street" makes a compelling case for Citi leading the pack in risk taking, while CS already abides by stricter Swiss regulations.

But really, they are not different enough to worry about. Location might also matter: do you prefer Tribeca or Midtown?

I thought only cs and ubs try to spin the stricter regulation into a good thing... Isn't Citi's tier 1 capital among the highest? Also, haven't heard much about problems with Citi pay like the ones barcap and ms are experiencing.

It's only been a month but Thomson Reuters as of Feb 2, 2012 says...
M&A
CS #6, C #1
Equity
CS #7, C #2
Debt
CS #9, C #4

Feb 13, 2012
audemarspiguet:

I thought only cs and ubs try to spin the stricter regulation into a good thing... Isn't Citi's tier 1 capital among the highest? Also, haven't heard much about problems with Citi pay like the ones barcap and ms are experiencing.

It's only been a month but Thomson Reuters as of Feb 2, 2012 says...
M&A
CS #6, C #1
Equity
CS #7, C #2
Debt
CS #9, C #4

Link please? I'm guessing this is announced?

Feb 13, 2012

For Worldwide Announced M&A:
1 GS
2 C
3 JP
4 BarCap
....
9 CS

For US target Announced M&A
1 C
4 CS

(I'm just quoting the Thomson One tool...and don't work at either CS/C)

Feb 13, 2012

really guys? using 1 month of data....? good luck with that.

Feb 13, 2012

Hey, i agree entirely. I wasn't making a point, just saying that those numbers were valid.

How did 2011 numbers shake out? Not at my comp.

Feb 13, 2012

fuck prestige. holy shit this is retarded.

"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.

Feb 13, 2012

At first glance I would say CS, but really what is most important when picking a group is not really prestige. Sure you need to think about exit ops, but if you feel like you mesh well and work with a group the best, see that you have some potential to learn a lot, and genuinely like the individuals...you are not only going to have a more enjoyable life but you will have better relationships to utilize when taking the next step. Focus on fit in that sense.

Feb 13, 2012

^this

Feb 13, 2012
ES2121:

For a generalist offer to IBD, which is overall "better" in terms of prestige, culture, etc:

Credit Suisse (New York)
Citi (New York)

I have until the 22nd to decide on which offer to take, and I'm split!

If you are feeling uber helpful, it would be great if you could rank the top two or three groups in IBD for each firm as well!

when people start such discussion topics , i have a feeling that they're trolling!!
e
ither way, look dude, CS is a great bank and possibly in the same tier as Citi. There's GS/MS/JPM (tier 1), and the rest of the banks can just be classified as one tier in terms of prestige - though im doubtful about UBS now. having said that, Citi NOWADAYS will offer you more stable job security than CS just because that CS and UBS both have announced plans to shrink their IBD division.

Shrinking IBD --> Departure of Rainmakers ---> More pitching & less live deals

Yes citi might be ranked 2nd right now in m&a but its been only 1 month though this year has been a great start for Citi in terms of mandates won including glencore. its a sign that their investment in shit tons of MDs last year from UBS might be paying off!

Jan 22, 2015

I'm in the same boat now. Which one did you end up choosing? Are you still there or did you move on to something else?

Jan 22, 2015

Don't know about CS Cap markets, but Citi CMO, in the US at least, has a shit ton of random groups (like almost 20 of them). Besides having a stronger LevFin team and reputation at CS, I wonder if your chances/alternatives are better there too.

Jan 22, 2015

I'm curious- do you go to a school in the UK?
anyway, as for your offers- i can't say which one really sounds better, as they really sound about the same

however, i have heard from my friend that it's much easier to lateral between divisions at Citi, so i would consider Citigroup the safer bet

happy to give advice; no asking for referrals please

Jan 22, 2015

CS, at least you might get do do some modelling etc.
Citi CMO is a wasteland... could be good, but depend what you stumble on

Jan 22, 2015

Agree with @matayo - people in Citi tend to lateral pretty easily..have friends who did this successfully (MO to FO)

A friend of mine mentioned that at Citi they would much rather let you lateral than lose you to a competitor

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

Jan 22, 2015
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Jan 22, 2015