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Comments (16)

  • Intern in IB-M&A
Apr 26, 2021 - 2:27am

If you are an international student, pretty low. Most IB firms in Miami are LMM firms or small broker-dealers and they won't sponsor you. If you are a US citizen then you can get a job there but honestly the IB market in Miami isn't as developed and I would rather take a BB/EB/MM bank in NY over an LMM in Miami. You should check out Texas IB because that matches ur criteria sans the beaches.

Apr 26, 2021 - 10:41pm

Question for Texas: how much lower are the salaries in Houston for IB compared to NYC (since the COL in Houston is 3x less than NY). I've heard some say all BBs have a base that they keep for all tier 1 cities and some say it would be lower. How could this possibly be as 300k in NYC would be the same as 100k in Houston. Any info on this?

  • Intern in IB-M&A
Apr 26, 2021 - 10:45pm

All the top banks pay the same base + bonus in Houston as compared to New York. Which, like you mentioned, goes a lot further. 

Source: I am at a target for Houston IB and am headed there myself this summer.

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  • Analyst 1 in AM - Other
Apr 26, 2021 - 3:58pm

Miami guy here. As much as there is noise in the news recently about folks moving down here, it will take a WHILE before we see Miami as a Banking/sell-side hub. Mostly Buyside and VC is moving here (any tech bros reading this, welcome to our city but leave your shitty culture and politics where you are coming from). Which means you still have to go through the analyst years in NY/Chi/SF or elsewhere. No BB is moving there IB down here, GS news was for their AM division. Citi/JP/BAML/GS all have Corporate Banking and huge Private Banking presence down here to cover LATAM and domestic wealthy families. If that's what you want to do, you can start right out of undergrad. Bloomberg and WSJ make it sound like there is some sort of mass exodus out of NY every day. A 10 people HF shop or some real estate billionaire buying up a villa in Palm Beach doesn't mean anything near. You are a college freshman, don't worry about location, focus on getting the right experience. Cheers! 

  • Intern in HF - Other
Apr 26, 2021 - 11:27pm

This, Florida as a whole is kind of a dump IMO. Having spent time in Miami it seems like it tries emulate the worst parts of the culture of LA and South Beach is incredibly trashy. Brickell is alright but I think has worse nightlife than a place like Scottsdale and is a place where a bunch of hardos ride around showing off their 3 series. 

North Carolina, Nashville, Atlanta all seem like better places to live on the east coast. 

On the West Coast both Colorado and Arizona are decent places to live. I'm shocked that Phoenix/Scottsdale hasn't gotten more publicity during all of this because its similar in many ways to Miami (huge club scene in Old Town Scottsdale/low taxes/low COL/tons of golf courses/etc.). 

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