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Apr 28, 2016 - 7:01pm

Fratty i-banks? (Originally Posted: 01/06/2007)

Are there any fratty i-banks?

I'm not necessarily looking for a place full of men who were in fraternities, but rather a place not infested with gel-head guidos from new england, first generation Americans, nouvea riche abercrombie-wearing gdi's and people who generally lack class.

To put it a another way: which is the WASPiest bank? Wachovia perhaps . . . . ?

Apr 28, 2016 - 7:05pm

JPM is sooo not fratty.

if you want blue-collar and maroon whale0pants wearing, i think i am preppy, then it is hands down bear.

MS is rather WASPY.. but not overtly and not tacky.

LEH seems..ehh idont know? mixed?

CS... i just dont like it

livin large in miami
Apr 28, 2016 - 7:06pm

I hate people like you. I hope some first-generation African or Asian superstar kid gets an offer over you. They'll probably work harder anyway, instead of worrying about whether or not their coworkers summered in Nantucket.

  • 3
Apr 28, 2016 - 7:09pm

Haha.. Well, I believe banking used to be full of the preppy people you're describing, but it's way more diverse now. All of the bulge brackets have affirmative action / equal opportunity hiring policies, so you're going to get a diverse crowd at any BB. Of the BBs though, I would say that MS and Bear (not a BB I know) are still the most preppy, white banks. As for the JPM comment...huh?? I was interviewed by like 1 while person at the bank (with the exception of the MDs..who are mostly white). JPM also sponsors tons of diversity events, scholarships, programs etc. at my school.

The top boutiques are an entirely different story. Lazard and Blackstone pop to mind..pretty much everyone there is white (and mostly male). Greenhill, Gleacher, etc..same story. If you're really looking for a preppy white culture, you're going to have to go to a boutique. The private boutiques don't have to follow AA/EO, but even the public ones like Lazard and Greenhill can I guess justify hiring only whites since they're hiring a small analyst class and the applicant pool is mostly white to begin with.

Anyway, diversity can be a good thing (assuming the diverse candidates are competant and qualified), so I think you should be a bit more open-minded. Also, just for your career prospects, it's going to be extremely difficult to just focus on the boutiques since getting jobs at those places is extremely difficult even if you're at one of their few target schools.

Apr 28, 2016 - 7:10pm

you don't have to live that way. you will join a bank, you don't have to live the same way your colleagues do.

to the original poster, focus on the work that you will do. just do your job. joining an investment bank, PE firm or the like is less about hanging out with like minded people and more about doing good work and getting the right kind of exposure.

would you rather work for/with a class-less group of BSDs at goldman doing m&a headline grabbing deals internationally or for a group of soul-mate brothers at a no name IB? The choice is yours. i'm not going to judge.

general question: are you guys averse to working with non-americans (English, other Europeans, Japanese, etc...)?

Apr 28, 2016 - 7:12pm

there are a ton of east indians and asians at Greenhill, Blackstone, and Lazard - I don't know exactly what you mean by mostly white. I know atleast 2 indians/asians that are entering each of their full time classes and those classes really aren't that big (ie. 6-8 at BS M&A, 8ish at GHL).

Mind you they are pretty preppy people with not so middle class backgrounds for the most part and went to top ivys or Texas,UVA,Michigan.

Apr 28, 2016 - 7:13pm

Okay, yeah I did meet some Indians (more so than Asians) at Lazard, Blackstone, GHL, etc. but for the most part the banks were white (at least 80% white). And the Indians I do know who are starting at the top boutiques are all upper class from top schools like you said. I guess what I meant, was that the boutiques tend to be filled with upper class people, most of whom are white. I did not meet nor see a single black person, guido type, etc. while interviewing with those firms. They dress the best too, although some of them are huge snobs lol.

Westcoasting, do you know any black or hispanic people who are starting at (or work at) top boutiques? At least from my school, I think all the offers at top boutiques were given to whites, Asians, and Indians, most of whom were upper-class, good dressers, and cultured. The girls that got offers there tended to be hot as well.

Just to note, I'm certainly not saying that the lack of ethnic and socio-economic diversity at the top boutiques is a good thing, just that it exists.

Apr 28, 2016 - 7:49pm
dav3100:
Okay, yeah I did meet some Indians (more so than Asians) at Lazard, Blackstone, GHL, etc. but for the most part the banks were white (at least 80% white). And the Indians I do know who are starting at the top boutiques are all upper class from top schools like you said. I guess what I meant, was that the boutiques tend to be filled with upper class people, most of whom are white. I did not meet nor see a single black person, guido type, etc. while interviewing with those firms. They dress the best too, although some of them are huge snobs lol.

Westcoasting, do you know any black or hispanic people who are starting at (or work at) top boutiques? At least from my school, I think all the offers at top boutiques were given to whites, Asians, and Indians, most of whom were upper-class, good dressers, and cultured. The girls that got offers there tended to be hot as well.

Just to note, I'm certainly not saying that the lack of ethnic and socio-economic diversity at the top boutiques is a good thing, just that it exists.

Hot girls at Blackstone, Greenhill, lazard? Lol. I guess you have a very interesting definition of "hot."

Apr 28, 2016 - 7:16pm

All the people I know working in boutiques are mostly indians and white people. Some asians, but as you said all that were given offers were very well dressed, etc.

This isn't unique to boutiques tho, realistically, this is the case at most top groups. Unfortunately, banking tends to be somewhat WASPish, and it seems that often those that don't have a similar make up are shoved aside.

Apr 28, 2016 - 7:19pm

I would like to know more about this frat. thing, why is everyone so against it or for it? What do these peolple in frat. do? drink & party? doesn't sound bad......
What does wasp stand for?

Apr 28, 2016 - 7:22pm

I'm not looking for a breakdown of i-banks by the clothes they wear. Any nouveau riche gel-head can drop two grand at Brooks Brothers and seem classy. I just want to know which banks are filled with AJ's (see earlier post) and other faggots like these guys http://code.tv/index.html?bcpid=285076654&bctid=320419937

Anybody who pays $200 for a drink and can't even pronounce Cognac is pathetic and should get back on the boat from whence he came.

Apr 28, 2016 - 7:23pm
ade6u:
I'm not looking for a breakdown of i-banks by the clothes they wear. Any nouveau riche gel-head can drop two grand at Brooks Brothers and seem classy. I just want to know which banks are filled with AJ's (see earlier post) and other faggots like these guys http://code.tv/index.html?bcpid=285076654&bctid=320419937

Anybody who pays $200 for a drink and can't even pronounce Cognac is pathetic and should get back on the boat from whence he came.

do you really think that AJ would rock the golden fleece to the club when he gets bottle service?

Apr 28, 2016 - 7:24pm

Why do you keep making this an anti-immigrant thing with your "get back on the boat" comment? Most immigrants are not $200 cocktail swilling idiots. And there are loads of non-immigrants who act like idiots all the time. I don't know where you live but good luck in New York if you don't like being around non-WASPS.

Apr 28, 2016 - 7:27pm

Brooks brothers is alright to wear...
BUT its not considered "good" by any means... 3 for 150 plus you can get them non-iron! which saves you the dry cleaning fee.

Sounds like who wears brooks brothers is about to cry sorry patek.

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Apr 28, 2016 - 7:28pm

Brooks Brothers is terrible..everyone can tell a shirt is Brooks Brothers. They're a boxy cut for your standard guy. I'd just get half as many shirts and get some Ralph Lauren Custom Fit, Zegna, or Thomas Pink.

As for the immigrant comments, I think you're stereotyping way too much. There are "immigrants" at my schools whose parents are ranked in the Forbes 400...if you're such an eliteist, I don't see why you'd have a problem working with a classy Indian guy "fresh off the boat" from his freakin palace in India.

Apr 28, 2016 - 7:29pm
dav3100:
Brooks Brothers is terrible..everyone can tell a shirt is Brooks Brothers. They're a boxy cut for your standard guy. I'd just get half as many shirts and get some Ralph Lauren Custom Fit, Zegna, or Thomas Pink.

As for the immigrant comments, I think you're stereotyping way too much. There are "immigrants" at my schools whose parents are ranked in the Forbes 400...if you're such an eliteist, I don't see why you'd have a problem working with a classy Indian guy "fresh off the boat" from his freakin palace in India.

probably because he'll quit the bank in 6 months to go work for his dad (e.g. aditya mittal)

Apr 28, 2016 - 7:30pm

I only recommended he do such a thing when paying $200 for a drink he can't pronounce. Same goes for Richie "Bottles", Stevie "B", Ryan "Daddie", Dan "the Man" and anyone else who gets bottle service because "that's how they roll."

Apr 28, 2016 - 7:31pm

I hate gelheaded wops etc just as much as the next guy, and most of my friends are white/protestant. Nevertheless, the OP is a complete fucktard who has probably never touched a girl in his life. Go strangle yourself with your flashy, goofy D-ring belt.

Apr 28, 2016 - 7:36pm

Speaking of Vikram Chatwal, we know him and his family very well.

Vikram holds an MBA from Wharton and he did work at Morgan Stanley for a brief period of time.

My family attended his lavish wedding in India during February of last year and his family has been over many times.

I'm not going to get into any details, but as far as Chatwal goes there is more to the story than what the public knows.

I'm happy to hear that Indians are doing well. Mr. Mittal a few years back was the 3rd richest man in the world behind Bill Gates and Warren Buffet.

Mittal also paid the most amount of money ever for a home. He bought his palace (literally) in London for $126 million.

Apr 28, 2016 - 7:37pm

has a Bachelors form Wharton... not an MBA.

regardless guys like him and Mittal's son don't make up the majority of Indians at the bulge brackets. I'm not quite sure why these guys even bothered working for a BB given their family background and the expectation that most Indian sons take over their father's company.

Apr 28, 2016 - 7:39pm

Because he would have never understood what work is had he just inherited his fathers company. I have some good friends that are heirs and their fathers insist they start the business from the ground up. That kind of parenting has turned them into some of the most grounded kids ever despite the celebrity of their last name.

Apr 28, 2016 - 7:40pm

also, working at a BB, they get to see how the game is played. most wealthy families that i konw insist that the new generation work elsewhere for at least a couple of years before coming to the family business/conglomorate.

Apr 28, 2016 - 7:46pm

 As for the guy on Lifestyle TV that goes around blowing $400 a week at some club, he's a total douchebag.

Another boston legal reference, but "Well evidently, being white and male isn't enough, you also have to be a golden retriever with a pedigree to succeed here."

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
Apr 28, 2016 - 7:42pm

I can't believe this poster was actually LOOKING for a fratty, waspy bank. Jesus, take your pick, there's certainly no shortage of frat boys in ibanking. Never thought that was a good thing, but whatever.

(btw, my vote for frattiest bank - Lehman)

Apr 28, 2016 - 7:44pm
Seanc:
I gotta say this: If you really need to log on to an Online forum to ask this question, then you definitely don't belong to the group you so desperately want to be a part of.

I don't know how I'm being desperate, but I simply wanted to hear posters's responses, which I am going to give significantly less weight than the responses of people with whom I have spoken personally.

Apr 28, 2016 - 7:47pm

CS IBD is not fratty or WASPy - they're very diverse. Brooks brothers isn't "elite" - it's where many analysts go to buy their first couple of suits.

I hear Lazard is pretty diverse. Evercore is very diverse.

Jefferies is very fratty, and I'd say MS is the WASPiest BB bank.

As for the other BB's:
GS - diverse
BAML - fratty but diverse
DB - not fratty... not sure about diversity
JPM - diverse, not particularly fratty
Citi - I hear it's not fratty

Apr 28, 2016 - 7:51pm

I find it very interesting to see how perceptions of banks in terms of prestige/frattiness/overall ranking has changed so much since 2007, when this thread was originally started.

Apr 28, 2016 - 7:53pm
ade6u:
Are there any fratty i-banks?

I'm not necessarily looking for a place full of men who were in fraternities, but rather a place not infested with gel-head guidos from new england, first generation Americans, nouvea riche abercrombie-wearing gdi's and people who generally lack class.

To put it a another way: which is the WASPiest bank? Wachovia perhaps . . . . ?


The frattiest bank used to be Bear Stearns and would sometimes get made fun of for that.

In terms of WASPy banks, that's tougher. It's tough to be a large financial institution in New York and NOT hire in a lot of folks from abroad. You might want to look outside NYC for WASPy banks. Maybe Northern Trust or Edward Jones? Bershire-Hathaway if you can find a way in? You're going to have to look for a more conservative institution that's not based out of a cosmopolitan city like NYC.

I guess the question is how do you define class? Are you talking about a Boston Brahman WASP perspective on class or more of a Midwestern middle-class WASP perspective on class (completely different, IMHO). From the Midwestern perspective on classy of someone who would be happy to talk about Plato over a glass of beer with blue-collar folks- and be able to pull it off without talking down or sounding pretentious, you'll find A LOT of classy people at an investment bank. You'll also find that A LOT of classy people are from abroad. They will have different values than you, but they're nice people and you try to focus on what everyone has in common.

Edit: Two year old thread, and the guy seems focused on the more Northeastern form of WASPy (actually, it should be WASSHy, as the Northeastern WASPs have become more secular humanist.). I would have told him to go for Bear or Amaranthe, LOL.

Jan 27, 2016 - 6:37pm
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