Lehman vs. Merrill?
In terms of exit opps and prestige. This is in general, not for any specific groups.
In terms of exit opps and prestige. This is in general, not for any specific groups.
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half-dozen of the other.
overall, Merrill
haha ignore any BS this guy spouts, his sage advice comes from campus chatter and info sessions - he's the new aspiringmonkey. Kimbo, how about you explain why merrill is better than lehman. Is that what your buddies decided between classes? Or maybe what a merrill interviewer told you? Or maybe your classmates tend to take merrill offers over lehman, so it must be more prestigious.
and to throw my two cents in, they're the same. As has been said 184,345 times on this board - After GS/MS, the rest of the bulge (Citi, JPM, ML, LEH, CS, UBS) are essentially respected on the same level.
in europe cs UBS leh ibd are a notch below JPM ML Citi.
lehman vs Merrill - I would take ml for ibd and lehman for markets
I know people at ML who got great exit opps in the same tier as some of the guys I work with at Leh, so it really depends on the group you join, how much deal exposure you have and generally your skillset after your program is up. Both are considered one and the same.
Merrill Lynch IB vs Lehman Brothers Capital Markets in London (Originally Posted: 03/25/2007)
Hi!
Frankly speaking I don't know how to formulate my question correctly but I've got two offers for summer internships and have to choose between these two alternatives. The problem is that I haven't yet set my priorities between ML and LEH as investment banks and IB and CM as particular divisions. What I'm looking for is a challengig creative job involving analytical, communicative and organizatorial (not immediately of course) skills.
I would appreciate it greately if anyone could give me hints or ideas.
What are you more interested in, CM or IB? Answer that, and youll have a clear choice.
IB and CM are SO different (perhaps with the exception of CM structured products -- which is a bit closer in terms of lifestyle to IB than something like S&T). As monkeypoker said, you should really be able to make a decision based on division, not bank.
If I choose Capital Markets I am more likely to do something related to research (perhaps to strucruring). I know that a workday seems to be longer in IB, but what is important for me, which job involves a broader range of tasks and appears to be more interesting in terms of analytical work.
Whether it is true that capital markets imply being fully concentrated on a certain product, while IB enables to be engaged in more general comprehensive analysis? Also, there is an opinion that junior positions in IB imply a lot of grind. Does anyone have any ideas about it?
SA's pitch the whole day 150 hours a week....powerpoint shit
Take Lehman the SA to FT conversion rate is there 98% , an almost guaranteed offer
At ML it is 65%
holy crap..ML london's retaining rate is 65%???
the SA procedure and FT procedure for ML are identical...
they can use the SA and take the ones they like for FT and reject those who they hate..
Unfortunately, I haven't caught it whether 65% is a realistic number for Merrill or two high\low
student22 you have clearly never done banking. SAs do a fair amount of pitching, but you would not be working 150 hours a week. Depending on your group, you might assist in executing live deals.
Lehman vs. Merrill IB (Originally Posted: 02/21/2008)
I have summer analyst offers from Merrill and Lehman in IBD (New York)... having a tough time deciding. I go to a target school for both firms, but my school has a stronger alum network at Merrill which may help me get placed into a better group. That being said, Lehman seems to be rising in prestige and Merrill has been performing fairly poorly recently. thoughts?
"That being said, Lehman seems to be rising in prestige and Merrill has been performing fairly poorly recently"
What are you basing this on?
I had to make the same decision, and I chose Merrill. I think that public perception of Lehman is overinflated because of its #3 Vault ranking. Lehman doesn't have very strong product groups, and I know that I want to join a product group - Merrill was the clear choice for me.
To nystateofmind - basing this on the management and Lehman's incredible growth over the last 10 years, as well as Merrill's huge losses this year
I'm interested in going into an industry/coverage group, not a product group, as I feel this provides broader knowledge for someone with as little experience as I have.
Anyone know anything about group placement at Lehman (ie how likely you are to get stuck somewhere you don't want)?
Also in terms of exit opps is there any difference? Can anyone speak to the cultures of the firm in comparison to one another? My impression of lehman was that there is much more diversity and maybe a slightly more intellectual vibe... is this true?
"To nystateofmind - basing this on the management and Lehman's incredible growth over the last 10 years, as well as Merrill's huge losses this year"
So you're making your IBD decision based on subprime writedowns generated by a few credit desks?
If diversity is important to you, ML is best known for diversity... although this did not factor in to my decision.
Most people I know who has been through Lehman IBD had groups that they were satisfied with; at least one of their top 3 choices. I believe this is the case with most banks.
I'm not sure that I would assert that Lehman is more intellectual; you'll find smart people at all of the firms across the Street. It's not like all the Harvard kids are going to Lehman and all the Baruch kids are going to Merrill.
Have you been to sell days at each of the firms? At my sell days, I did notice that Lehman has a more "uptight" and "proper/conservative" culture (business formal dress all the time), while Merrill was more laid-back (business casual). This may have relayed an "intellectual vibe" for Lehman. I admit, I was a bit turned off by the state-school kids dressed in Khakis and a sloppy button-down/sweater at Merrill.
In summary... there isn't really much difference between the majority of banks across the Street. Instead of focusing on firm-perception, you should concentrate on: 1.) group selection 2.) culture and fit.
Also, if you're leaning towards Lehman, I would say go with Lehman. Don't seek advice here, as people on this forum tend to trash Lehman a lot and might improperly influence your decision. I think Lehman is a great firm.
lehman hires most of their ft from its sa class---many bb's claim this, but it's especially true at leh. they even run 2 8-wk sessions in the summer for that purpose.
Again, ML's writedowns have nothing to do with its investment banking side....
Other than that - go where you think you'll fit in the best. Unless you can get into a great group, it really doesn't matter where you go. There is at BEST a marginal difference between the two firms.
I was just at the ML superday, the VPs/associates all seemed really laid back, and easy going. Far less uptight than the GS/Laz people. I've never interviewed with Leh, but I hear the culture there is pretty laid back.
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