Lazard FT vs Goldmans SA vs Credit Suisse SA (all London)

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Ok, so I've currently got a FT offer at Lazard, a SA offer at CS and I'm in the process of interviewing with GS. I've never failed an interview, so I'm hoping that GS is going to work out. Whatever the outcome, I'd be working in London. Any advice about what I should do? Should I turn down the Lazard FT offer for a chance at GS? All of this is obviously in the IBD department.

Cheers!

Comments (32)

 
Nov 25, 2012 - 12:25pm

Strange that you are applying for both SA and FT stuff, but congrats nonetheless on some excellent options. You really can't go wrong either way- I would say probably rule out CS- it is inferior to GS and no guarantee of an offer (like you have with Lazard). If you get the GS offer and do a decent job over the summer you will likely get a full time offer. Both places will have great exit opps- GS probably more and is obviously more prestigious. Depends on what you want. Both Lazard and GS known for having pretty brutal hours so lifestyle won't be better at 1 vs. the other. A big thing to consider- if you get a FT offer from GS after the summer will they let you start immediately or will you have to wait until the following summer (I'm assuming you are graduating this spring). If they make you wait, that could be either 8 months of doing something exciting or 8 months of no salary (whichever way you see it).

 
Nov 25, 2012 - 12:53pm

people are leaving Laz, it's not what is once was in LDN, and their RXing is waff. But it's pretty hard to advise against an offer in hand for a summer elsewhere

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
Nov 25, 2012 - 3:00pm

Hietski:
Oreos:
people are leaving Laz, it's not what is once was in LDN, and their RXing is waff. But it's pretty hard to advise against an offer in hand for a summer
elsewhere

Hmm, you sure? Heard that laz has some of the best mds in London.

Did they tell you that? Dude, I don't want to diss your place of future work, and you'll get great exposure, just not as great as it once was....

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
Nov 25, 2012 - 3:00pm

Hietski:
Oreos:
people are leaving Laz, it's not what is once was in LDN, and their RXing is waff. But it's pretty hard to advise against an offer in hand for a summer
elsewhere

Hmm, you sure? Heard that laz has some of the best mds in London.

Did they tell you that? Dude, I don't want to diss your place of future work, and you'll get great exposure, just not as great as it once was....

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
Nov 25, 2012 - 3:01pm

Seriously? You're going to forgo a FULL TIME offer at a top elite boutique bank so that you can wait until next summer to get the opportunity to intern at a BB with only the possibility of getting a full time offer?

How can you put such a heavy value on prestige? In this situation it borderlines irrational.

Talent is hitting a target no one can hit. Genius is hitting a target no one can see.
 
Nov 25, 2012 - 3:49pm

Determined:
Seriously? You're going to forgo a FULL TIME offer at a top elite boutique bank so that you can wait until next summer to get the opportunity to intern at a BB with only the possibility of getting a full time offer?

How can you put such a heavy value on prestige? In this situation it borderlines irrational.

I agree with this. Unless you are that 110% confident that a SA stint at GS will land you a FT offer, which isn't guaranteed at all even though you state you never fail interviews (shit happens that's out of your control), passing up Laz FT for SA positions just doesn't seem worth it. Maybe if it was a smaller regional bank or something, but not an elite boutique.

 
Nov 25, 2012 - 4:03pm

Karembeu5163:
Determined:
Seriously? You're going to forgo a FULL TIME offer at a top elite boutique bank so that you can wait until next summer to
get the opportunity to intern at a BB with only the possibility of getting a full time offer?

How can you put such a heavy value on prestige? In this situation it borderlines irrational.

I agree with this. Unless you are that 110% confident that a SA stint at GS will land you a FT offer, which isn't guaranteed at all even though you state you never fail interviews (shit happens that's out of your control), passing up Laz FT for SA positions just doesn't seem worth it. Maybe if it was a smaller regional bank or something, but not an elite boutique.


Hmm, it's a personal thing- Goldmans has been my dream. I've never failed to get what I want, an I don't really want to start now.

 
Nov 25, 2012 - 9:38pm

woody_banker:
Oreos did Laz reject you / make you lose a lot of money (in that case I don't blame you ;p) why do you keep dissing it get I just went from another post where you seem to be saying the same thing.

Why would I change my opinion from thread to thread?

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
Nov 26, 2012 - 3:09am

I don't know who deleted the other thread about Laz but anyways sometimes I don't know why I come on this site to talk about this. Good luck to the OP FT is always better than summer. GS has a great brand undoubtedly as does Lazard. I think given the market conditions go with the FT. Oreos I personally think Laz screwed you on some deal your hedge fund was involved with so maybe can't blame your sentiment, but you shouldn't be caring that much about a firm you don't work at.

 
Nov 26, 2012 - 4:09am

Thorin:
In Europe if you are final-year student you are eligible for both FT and SA at most of the banks.

And beyond...Roths' LT internships are open for people with up to 2 years of post grad FT work experience, similarly with other's FT grad programs, it's much more flexible in Europe in general.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
Nov 25, 2012 - 10:34pm

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