SA Offers - Deutsche Bank vs Bank of America
I have 2 summer internship (London) offers for the IB divisions at DB and BAML and would really appreciate some advice.
I really liked DB's culture and the way they go about their business, the division has a great team of people. They seemed very supportive and they really focus on the personal development of interns/analysts. I also find DB to be more prestigious but that's just purely down to my personal subjective opinion.
Bank of America was very corporate during my visits but at the same time there was a feeling of everything being grand which I quite liked. The institution itself is massive and operates on such a huge scale, DB doesn't even compare in that sense. Also from what I understand it is way ahead in M&A than DB, or at least the numbers show it. However I'm not sure about how significant the London office is, whilst DB's London office is its flagship branch for IB.
What are your thoughts, what would you choose?
not sure what numbers you're looking at but DB is way ahead of BAML in M&A both in US and Europe as of Q3
Oh how times have changed!
Don't get seduced by prestige. Like, as a life lesson.. over time, a focus on "preſtige" will cost you more than it benefits you. Focus on good people, and have faith that most people like to work with (and generally, interact with) upfront, good people, and that you will earn their favor by being yourself.
Sounds gay, I know. For whatever it's worth, I learned it the hard way.
DB all the way babe..
p.s. check those numbers again, DB owns some shit
Congrats on your offers!!
I met with DB bankers in London and they were awesome. DB all the way for me as well.
I think DB owns BAML though... it's like top 5 in the world for M&A
I interviewed with DB in London a couple of years ago and they made me a very good impression. I also have some friends there and they always told me they are happy, they like the culture and the people. I don't know much about BofA.
Having said that, I think you should also look at the interns conversion rate of these banks. Historically (2010 and 2011), it was easier to be converted at DB than at BofA...
Good luck and congrats for your offers.
BOA vs. DEUTSCHE vs. MS (Originally Posted: 02/22/2007)
I am a junior about to get into a summer internship, and the options I have are BOA ibd, deutsche ibd, or ms global cap markets. I want to do ibd, preferably lev fin in order to maximize my exit opps into a buyside position. I have meshed the best with the boa people as they are laid back in comparison to the others and apparently their lev fin group is good. What do you think? What will maximize my potential after a few years? Does prestige with ms, but not doing ib, prove to be worth it?
If you really want to do lev fin, go for deutsche. Although MS is a name that may be hard to pass I have to say.
dooche bank has a great LevFin business
how are exit opps limited by doing global cap markets?
Since its an internship either one is fine. You can leverage the hell out of it come full-time recruiting.
I'd take DB,MS not BAS
Although MS is in capital markets, I think I would take name over experience since it's only for 10 weeks. But if you want the experience, then DB and BAS are in the same tier, so I would go with whichever group you like fit-wise.
Definitely. BofA is like DB 10 years ago - still new and building the business. DB is much more established now. I would consider DB tier 1B and BofA Tier 2 for overall IB prestige. DB's leveraged finance business is much stronger.
Not going to argue about prestige or how established they are, but haver you seen any league table to back this up?
I've seen the league tables, for the past few years. I can't argue that BofA is gaining momentum but the quality of bankers at DB is top notch. BofA still has a 2nd tier buzz in investment banking.
Definitely DB
Should be an easy decision: Deutsche Bank.
You won't be able to move to IBD from capital markets at MS after your internship is over even if you get an offer to return...I know one guy who tried to move from ECM to IBD and had zero luck. Had to reinterview all over again (3 rounds) and was cut after the first round and left with his ECM offer (he ended up going to another bank to do lev fin).
i am worried that if I choose deutsche I will not be able to get into lev fin or fig... i suppose I should call and find out.
Is getting into those groups vital to keeping exit opps open in the future? Whats the most vital aspect of maximizing your future job chances?
DB LevFin is better than BAS LevFin. Ask anyone who doesn't work at BAS.
Yes I get it, and Thomas Weisel M&A is better than JPM M&A
Guess who KKR paid the most fees to on WS last year?
DB. Believe it or not. It is true.
what about if i was deciding merely between b of a i banking and ms global cap markets... i do not want to screw myself by not going into ibd, but i also do not want to screw myself by not taking ms. What should i do??
SUMMER ANALYST - BANK OF AMERICA OR DEUTSCHE BANK?!?! (Originally Posted: 01/04/2017)
Any information would be helpful regarding the culture, pay and lifestyle. What firm offers the better opportunities going forward?
You need to provide more details on the offer, such as location, group, etc. Both are huge investment banks and groups within will have vastly different culture from each other.
Giving us your tentative future goals would be immensely help as well.
Do a little search and you can find info on pay. Start there.
did you really have to use all caps....
BAML has the better rep
Baml
I would most definitely recommend BAML (especially if you're US-based).
Deutsche Bank seems to be aggressively cutting its sales & trading staff, and while it's not the only firm doing so... it has been one of the first and fastest to do so. Personally, I think your career trajectory within the firm would be better at BAML.
Summer internship advice - Junior in college for Deutsche or BOFA (Originally Posted: 02/27/2010)
I have an internship opportunity as a junior in college for either Deutsche Bank global markets research or Bank of America Merrill lynch investment banking, I was wondering if anyone had any input into career opportunities after these positions or how people thought about each of these options in general. I would really appreciate some feedback, thanks!
BoA IBD >> research
What are your goals/interests?
Everyone speaks poorly about BofA's banking platform, but they are actually doing transactions and have a very strong leveraged finance platform. They also have a very strong FIG group.
Are you crazy? You might never get a chance to go back into IBD. Take your chance and don't wait the last day to respond to the offer.
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