Is IB Less Fratty at the Post-MBA Level?
Good Evening Monkeys,
I am wondering if the above is true. Please elaborate. I'm sure Investment Banks appreciate those who can number-crunch the models and I have gotten pretty good at it but I am not sure if I would fit in with the culture. I didn't join a fraternity and am quite nerdy, hence why I am considering consulting at the moment. The major problem lies in the fact that I looked into both roles and figured that I would prefer to do IB work much better than Consulting. All input from experienced monkeys are greatly appreciated.
BUMP
Investment banking analyst classes at BB's are like 80+ people and even EB's are now like 30+. There is going to be all sorts of personalities, though to be honest with the grade requirements/internships now needed to compete the majority of those people skew nerdy vs. 'fratty'. From what I've seen people are friends across personalities, united by the common thread of getting crushed every day.
The average MBA is like 30+, often times married/with kids, and looking to build a career in IB. They aren't going to Marquee every night...
That's insane. Only 80 ppl for a summer analyst class?
that's typical for the ibd division in nyc at your typical bb, not including markets
my BB had ~90 SAs in IB NYC this summer with an additional ~45 in capital markets
idk about fratty but it'll always be back stabby
Just spent MBA summer at an EB in NYC - it completely varies by bank. Buddies at Moelis LA talk about a complete frat house in the office, surfing with MDs (no lie), IntraLinks sponsored trip to Vegas, and on and on. My friends at bulges describe more corporate environments (although the MS Pool looks like a lot of fun).
edit: My summer was somewhere in between - definitely less fratty than somewhere like Moelis, but not as corporate and buttoned up as Goldman.
At the MBA level, there is a full semester of recruiting and coffee chats to REALLY get to know the various groups and see where you feel like the best fit.
Is it better to meet with all groups or focus on networking into the group you desire for Post MBA?
You're asked what groups you would like to recruit for, and your "story" generally needs to make sense for why you would go to that group (e.g. worked for CAA -> MBA-> Media Banking)
Obviously some groups have more competition to get into, like GS TMT, so some work strategically to target the group they have the best shot at given their background in order to get into the bank (e.g targeting Goldman NR because you have an O&G history, even though you might want to work in TMT), especially if you have no real preference. Also, most EBs and MS (with the exception of the FIG & RE groups) start as generalist programs.
Surfing with MDs? Damm this is a different Moelis LA...
Going to be honest, you’re not going to like it. You’ll also probably find it difficult to get along with clients.
I hear that this sentiment varies by location. IBD in London I hear isn’t as bad as NYC
The culture tends vary by bank. Evercore tends to be more academic and less fratty whereas Barcap might be more of the fratty vibe. Just find something thats a good fit
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