Investment Banking in LA
Currently, what are the top groups in Los Angeles in the investment banking industry? What groups are dying out?
I've heard that many of the BB groups in LA are not their own units and function as a regional arm to SF offices. Are there any exceptions?
Most interested in the following LA investment banks: JP Morgan, Credit Suisse, UBS, Lazard, Goldman, Bank of America Merrill Lynch, etc.
How does pay vary between these groups?
Investment Banking in LA
Typically investment banks in Las Angelas are smaller than their New York counterparts. Their offices have fewer positions so are not able to hire as many people. Keep this in mind when applying for investment banking positions on the west coast in general as you will want to cast a wide net and apply to several places.
Some years there are as few as 30 positions in the city and you're competing with graduates from Stanford, University of California, University of Southern California, and the Claremont Colleges. So while you can state your preference for an LA placement, be sure to emphasize that you're flexible with location.
Investment Banks in LA
Since LA banks are so much smaller than New York groups, they don't typically compete against them. The two that stack up against the New York branches are Credit Suisse and Moelis. Moelis is sell-side M & A. They have excellent deal few with lots of small deals and the occasional smaller ones.
Credit Suisse in LA focuses on gaming and sponsoring and also have excellent deal flow. So very similar, however, Moelis is usually ranked number one for exit ops.
Because of Goldman Sachs brand name, they rank a close third. Their offices are generally strong regardless of location and deal flow in LA is average. It is considered a satellite office.
List of Some of the Strongest LA Groups:
According to Wall Street Oasis user:
- Moelis: Amazing exit ops and extremely hard work
- CS: They will work you but you will get very strong modeling experience.
- GS: Good place, focus on consumer and FIG, good exits and strong deal flow.
- MS: Good people and good exit ops.
- BarCap: Nice people and good culture, decent deal flow, one of the least technical banks in LA.
- UBS: Ex-DLJ bankers running the place so very technical, good deal flow and exit ops.
- HL: FRG is great, limited Ex Ops to private equity but great if you want to do Hedge Fund recruiting, other parts of Houlihan Lokey Howard and Zukin have limited exit ops, try to avoid FAS if you want to do banking.
- CitiBank: Used to be one of the smaller/weaker groups in LA but they are now growing.
- DB: Very small and only focuses on FIG. Don't know any full time but met a few bankers there.
- BaMl: Heard they had layoffs recently but traditionally used to be a strong LA office. Strong senior bankers.
- Wells: Ex-Barrington associates guys.
Read More About Ivestment Banking On WSO
- What is Investment Banking?
- Investment Banking Summer Analyst Salaries 2017
- Are Investment Bankers Rich?
Preparing for Investment Banking Interviews?
The WSO investment banking interview course is designed by countless professionals with real-world experience, tailored to people aspiring to break into the industry. This guide will help you learn how to answer these questions and many, many more.