IBD SA offer choice: CS vs Citi?

jenhoula's picture
Rank: Chimp | 2

Both are in NY. I know they are not that different so probably it all comes down to culture.

Really like the junior people at CS but not the MDs I've talked to. On the other hand, I like the senior people I talked to at Citi.

Does anyone know what's the percentage of SA offers turning into FT at both banks? Also, any thoughts in terms of what to consider when picking the offer? Thanks lots!

Comments (42)

Feb 7, 2015

Both have pretty high conversion rates. I'd go with CS based on my interactions with the people there. Congrats.

Feb 7, 2015

If it is like you said and only comes down to culture - I would go with the one you fit in best amount the juniors (so CS in your case). You will develop a strong camaraderie with the analysts in your trench years. That being said, it is under the assumption that for Citi you liked the senior people but not the juniors. Both are great choices and congrats on your offers!

Feb 7, 2015

Purely from what you said -- I would go with CS because at the end of the day, that's who you're interacting with and pulling late nights with them so you arguably want to get along with them more

Feb 7, 2015

cs on all levels

Feb 7, 2015

Isn't CS considered less of a "name brand" than Citi?

Feb 7, 2015

yeah if you're looking for a credit card.

Take CS.

Feb 7, 2015

based on current scandals at Citi and CS has been moving up the league tables over the past few years. Pay/perks will be same at both places. I'd say CS is smaller so you won't be mistaken for bank teller at Citi if you care about that shit, which you shouldn't.

Exit opps from CS Sponsors or M&A will be greater than most groups at Citi.

Feb 7, 2015

In terms of ib prestige, I think CS is a whole lot better than Citi. It will definitely pull more weight when moving to your next position if that is what you are planning to do. If you plan to stay, then name doesn't really matter. As for the culture, CS is much more entrepreneurial and is a growing firm, so I would argue internal opportunities are better there. Their huge global platform is pretty sweet and would be great to be a part of as well. That said, Citi has a 'bigger' name, but that's mostly because they have more assets to back them (from commercial), but not because their investment banking operations are better (I think most bankers would see CS as AT LEAST on par with Citi).

Feb 7, 2015

am I the only one that fucking hates the term "entrepreneurial" when used to describe a bank? right up there with "dynamic"

Totally meaningless words. Good luck explaining how one bank's analysts are more "entrepreneurial" than another's. And what the hell does "dynamic" even mean in that context?

Feb 7, 2015
thatguy123:

am I the only one that fucking hates the term "entrepreneurial" when used to describe a bank? right up there with "dynamic"

Totally meaningless words. Good luck explaining how one bank's analysts are more "entrepreneurial" than another's. And what the hell does "dynamic" even mean in that context?

The people at Lehman seemed to love it when the word "entrepreneurial" was used to describe their culture. It works with a couple of banks, but obviously, if you use it at a place like Citi, it sounds retarded.

Feb 7, 2015

Take Citi. It is a MUCH BETTER bank than CS on a million different levels. Is a clearcut #3 behind GS,MS. First Boston is really lumped in with Lehman, ML, and UBS.

People point at M&A and Sponsors as having great exit ops at CSFB. They're no much better than anywhere else and the odds are you won't end up in those groups.

Citi is a better bank that CSFB. Perceived as a harder job to get. Go there.

    • 1
Feb 7, 2015

entrepreneurial = analysts trying to get the fuck out and do their own thing

entrepreneurial = firm is promoting within because it's trying to expand into different industries/groups/regions

entrepreneurial = didn't get an offer from a bb that gives out one to 25/60 people where you end up working with some dumb bitch that can't get their shit done

Feb 7, 2015
monkeynumber7:

entrepreneurial = didn't get an offer from a bb that gives out one to 25/60 people where you end up working with some dumb bitch that can't get their shit done

25/60? Good god, which bank is this? That is an absolutely horrible/terrifying ratio of offers given out.

Feb 7, 2015

im talking about Citi

Feb 7, 2015

Most of you guys keep basing prestige on how a bank is recognized by someone who doesnaEU(tm)t know shit about the finance industry, true you tell some little old lady in Nebraska you work at Citigroup and sheaEU(tm)ll think you are a bank teller, but who gives a fuck what the little old lady thinks. People in the business know. Judge a company by overall performance and results. Look at the deals that Citi has done, look at the trillion dollar M&A activity it has had in the past year.

Feb 7, 2015

agreed, but that's because of their big ass BS they have and financing they provide as result.

both are good firms...dont worry too much and go wherever you have a better feel.

PS: not much entrepreneurial about analyst work....we all make pitchbooks that are used over and over again....every analyst whether at GS or Wachovia, is doing similar kinds of work.

Feb 7, 2015

if you're talking about prestige outside of finance and who the ltitle old lady will recognize, Citigroup wins hands down. prestige within banking in terms of exit opps and laterals, go to cs

Feb 7, 2015

doesn't CS pay overtime? more $$

Feb 7, 2015

.

Feb 7, 2015

prestige- cs better in west coast, Citi in east coast
pay/perks same
culture- i don't know about cs but citi has a pretty laid back culture to me but all i did was go to superday there...not working there.
full time- both have very high full time offer rates.

Feb 7, 2015

Any thoughts on UBS M&A vs Merrill M&A?

Feb 7, 2015

CS does pay half time for every hour over 40 during the summer. I think that works out to roughly $14 for every hour after 40. However, I have heard if you accept full time that money is actually re-routed out of your full time bonus.

Feb 7, 2015

very shady indeed

Feb 7, 2015

BTW, CS IBD analyst class is bigger than Citi's.

Feb 7, 2015

Tough call, but I would choose CS even though Citi is more prestigious than CS. Citi does not have many solid groups unlike CS.

Feb 7, 2015

It's a coin toss... My advice? Take the offer of the firm that sounds better in your mind. Basically, which firm would you be more proud of working for? Credit Suisse or Citi?

You'll be more motivated at a firm that you take pride in working for.

PLEASE DONT CHANGE EXCEL SHORTCUTS!!!

Feb 7, 2015

This should not even be a question, CS is not even in the top 5 BB, Citi is a clear number 3, if you want exposure to deals and a better name for your resume take Citi, especially if it is a NYC offer.

Feb 7, 2015
Patrick Bateman:

This should not even be a question.

I agree. I think passing up a Citi offer to work for CS would be a very big career mistake. Talk to anyone important in the banking industry and they will tell you Citi's IBD is better by far.

Feb 7, 2015

so, by the same logic you would take Citi over a top boutique?

Feb 7, 2015

I agree with phosho. Just because cs is not ranked as top 5 bb does not mean they are less prestigious nor does it mean that Citi is prestigious just because they are up there. Deal flow, sure, they have lots of assets and can back deals. But you're saying you would take Citi over Lazard, Evercore, Perella, and any top bb ranked lower than Citi. Fuck no. Not only is cs ny better than citi, cs la would tear a new ass hole in any group citi has to offer.

phosho:

so, by the same logic you would take Citi over a top boutique?

Feb 7, 2015

You should take Citi. Don't be stupid.

Feb 7, 2015

I don't know about Citi being a harder job to get. I've heard they shelled out 25 offers at Wharton alone (can someone confirm).

Feb 7, 2015
phosho:

I don't know about Citi being a harder job to get. I've heard they shelled out 25 offers at Wharton alone (can someone confirm).

http://www.vpul.upenn.edu/careerservices/wharton/s...

Feb 7, 2015

to get than, but at my school, they got candidates that didn't recieve offers from other BBs (including CS).

Citi has more prestige than IBD, but both work on high profile deals (especially with Sponsor companies).

Feb 7, 2015

Citi interviewed ~80 at wharton, gave ~25

Feb 7, 2015

cs and Citi are ok, but have you thought about PNC? i hear they're starting a new IBD division - should be sick. i actually know someone there. PM me for contact info.

Feb 7, 2015
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