LONDON - LAZ v BAML v BarCap (Exploding offers, need advice)

SomeDay5's picture
Rank: Chimp | 7

Hi everyone,

Have SA offers for each of these in London, Laz will be a random industry team, BAML is a generalist pool with bits of work from different industries (stick with one you click with, have met and really liked HC, could try to swing joining) and Barc is UK M&A.

Most threads here focus on US recruiting - wondering if anyone could shed some insight on which would edge it out in the UK?

Thanks!

Comments (16)

May 1, 2015
May 1, 2015
rx.:

Barclays

You gotta back that up, unless it was a joke.

Its an EB vs. BB debate if anything. Personally I'd go Laz (based of very little other than preftige and Mayfair > St Pauls).

    • 1
May 1, 2015

Thanks for that, Mayfair is holding huge weight. Prestige-wise BAML seem to have been killing it in the M&A rankings 2014/2015, am I playing the wrong game by looking too much into the rankings?

May 1, 2015

oops just saw that it was for London, I was thinking it was for New York. In that case, Laz for sure

May 1, 2015

Lazard or BAML. It's not the best time to join a European full-service bank, so I would definitely drop BARC off that list.

You can't really go wrong with LAZ and BAML but I would prefer LAZ for EB vs. BB reasons. It's a good time right now to join a EB, especially if it is a player like LAZ. Also, LAZ's location near Green Park is really nice. However, as I said before, BAML is top notch in London as well.

Nice problem to have, congrats.

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May 1, 2015

Forget Barc.

Both shops are good. Lazard's rep as a sweatshop still holds up and the random industry team might not work out in your favour. College alum I know burnt out really badly after 18 months and left but is now at Wharton so speaks for itself. That being said, still has a great reputation and will make you competitive for buyside gigs.

BAML's generalist pool works well as you can rotate between four or five teams in a summer and really get a feel for who you like. The clicking thing is big from what I've heard. A lot of groups have their own sub culture. Some are more foreign language speakers than native english speakers but you can figure out where you fit. For example, a public school and oxbridge type might make you a shoe in for the UK coverage team.

My two cents, think about it from a full time analyst perspective. Random industry group vs the group you want. Whichever place can give you that, go for it.

May 1, 2015

Here are some considerations:
(1) 2014 to date, M&A deal value and average deal value for BAML is higher <=> fewer, larger deals => your experience may be limited in terms of number of deals you've been exposed to
Laz <=> numerous, smaller deals => higher probability to have a more diverse experience
(2) opportunity to rotate industry teams at BAML is very important, as it would enable to assess your preference for the longer-term

May 1, 2015

A huge thanks to all of you for helping with the decision process. Impression I've been given is that LAZ allow a fair bit of choice in FT group, and movement between groups is common.

Is anyone familiar with the process able to shed some light on the perks of a huge analyst class at a BB and training in NY with all of them compared to the EB home-office training and tiny analyst class? Is it important for establishing your network/will an EB be a drawback here?

May 1, 2015

I don't think Laz has a small analyst class by any stretch of the imagination, we're not talking about Greenhill here. For example Roths has one of the biggest M&A groups in London, doesn't have to be BB to be big.

May 1, 2015

Laz team is 120 strong, analyst class is 18-20. Surely there there are a lot more people to meet and develop a network with at a BB?

May 1, 2015

Did Laz just give out SA offers? I thought the offers were given out long ago.

May 2, 2015

They were, these are for 2016 SA positions from converted spring weeks. Still on exploding contracts though - Lazard gives one week.

Thanks for the input everyone, much appreciated.

May 2, 2015

EB vs. BB is the way to look at it (ignoring BARC).
LAZ/EB for me.

May 2, 2015

Out of curiosity, would those favouring the EB still do so if the BB was GS/MS/JPM?

May 2, 2015

Made this decision myself for this summer. Picked Greenhill/CV/Evercore/Moelis/Lazard over GS/JPM/MS.

May 2, 2015
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