Suntrust Robinson Humphrey Investment Banking Analyst Program

MitchMitchell's picture
Rank: Orangutan | 298

Hey all,

I'm a soon to be December 2013 grad at a complete non-target(average state school) Been looking to break into full time IB. I have IB internship and a project management internship at a bioscience incubator locally(Memphis). There is an opening for a Fixed Income Research Analyst position here and I'm wondering is there is anyoen familiar with hiring for this program and could answer a few questions

How does STRH's IB analyst program stack up in terms of exit opps(Associate and/or Good southern business schools
-What is the timetable for recruiting(I don't know the start date, but I think it's fair to assume summer 2014)
-Are the interviews more fit or technical in nature

Thanks for any and all responses

Best,

Comments (114)

Nov 28, 2013

STRH IB is a 3rd tier MM (IMHO). Yes, exit opps are dependent on your candidacy, but they are limited considering -

1. Its a MM (and not the best - compared to Stifel/Baird etc.)
2. Its in Atlanta, thus you are geographically limited. You CAN always network your way to other locations, but its going to be tougher.

You will have a decent application for Southern BSchools, however, be mindful of the fact that there will tons of BB and other MM Analysts applying to BSchool with you. As far as internship recruiting timeline, I interviewed with them in February last year (non-target) and got my offer by March. As for full-time, my friend (at a Target) got her offer by October.

With that said, don't let anything hold you back. Good luck.

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Nov 28, 2013

In addition to the above, fixed income research is a dying business.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

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Nov 28, 2013

STRH puts a very strong emphasis on fit and their interviews reflect that fact. Do not expect a huge emphasis on technicals (but obviously know them), it will be more personality based

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Nov 28, 2013
Carnage:

STRH puts a very strong emphasis on fit and their interviews reflect that fact. Do not expect a huge emphasis on technicals (but obviously know them), it will be more personality based

This. Really chill group of guys. You go here for the culture. Exit opps...are meh, but honestly the people there are awesome. I met 2 MDs who spoke to me like I was on their level and I was a sophomore asking stupid questions (now that I look back) and I wasn't even in business casual at their event. I was in JEANS.

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Nov 28, 2013
zeroblued:
Carnage:

STRH puts a very strong emphasis on fit and their interviews reflect that fact. Do not expect a huge emphasis on technicals (but obviously know them), it will be more personality based

This. Really chill group of guys. You go here for the culture. Exit opps...are meh, but honestly the people there are awesome. I met 2 MDs who spoke to me like I was on their level and I was a sophomore asking stupid questions (now that I look back) and I wasn't even in business casual at their event. I was in JEANS.

Exactly, everyone I've met who have interacted with STRH people have similar stories. Seems like a great shop in terms of culture.

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Best Response
Nov 29, 2013

Their OCR interview was 50/50 technical and fit, but generally the technical questions were basic and they were looking to see that you have basic knowledge on the subject.

The superday was super relaxed, I was very pleasantly surprised. The interviews were almost entirely fit and were very conversational. Good group of guys, met a lot of seniors who were former college athletes and many fraternity guys.

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Nov 29, 2013

Thanks a ton for this responses guys. There wasn't any OCR, but they did post this to my school's job board.

Do you guys think I can grab this fresh out of UG? The qualifications seem really really simple.

http://jobs.SunTrust.com/job/Memphis-Fixed-Income-Research-Analyst-Memphis%2C-TN-TN-37501/19613700/?feedId=42500&utm_source=Indeed&utm_campaign=SunTrust_Indeed

I had an internship with a boutique IB firm and a previous one as a financial modeling intern at a bioscience incubator.

Nov 29, 2013

network....jobs school board isn't enough. yes u can get it fresh out of UG, but you'll need to "click" with the interviewer, essentially be a cool guy, and know stuff about Fixed Income, like duration UST 10 year yield, etc.

if you don't know the Fixed income technicals you're automatically out, and it should be easy to get fit down.

you will need to network to get your resume in front of their face for a first round interview or superday. I'd suggest send an email this tuesday and wednesday. DONT ASK FOR A JOB. ask im really interested, can i speak with you on the phone etc, nice email. at the end of call ask about internship or can you refer me to someone else. use linkedin to get their names and plug it in company formula. don't hit up too many people, try to find people with similarities with you

Nov 29, 2013
zeroblued:

network....jobs school board isn't enough. yes u can get it fresh out of UG, but you'll need to "click" with the interviewer, essentially be a cool guy, and know stuff about Fixed Income, like duration UST 10 year yield, etc.

if you don't know the Fixed income technicals you're automatically out, and it should be easy to get fit down.

you will need to network to get your resume in front of their face for a first round interview or superday. I'd suggest send an email this tuesday and wednesday. DONT ASK FOR A JOB. ask im really interested, can i speak with you on the phone etc, nice email. at the end of call ask about internship or can you refer me to someone else. use linkedin to get their names and plug it in company formula. don't hit up too many people, try to find people with similarities with you

I was a bit ahead of this a few weeks ago

A VP in their fixed income department is a grad of my uni and my department chair made the connection. I just got the email this morning and he forwarded it to his MD. Actually quite the helpful guy!

He did suggest that the process already started(which is definitely possible), but I applied around the time it was posted(September/October) and the posting has been getting reposted every few weeks, so I dunno.

Thanks again guys!!

Nov 29, 2013

and don't rush jan start date, talk about starting June/July unless they have an immediate opening...plus its already a bit late for FT, you might have to go middle office, market risk management, and from there move to S&T after a year.

don't discount middle office if you can't land this role. Hit up all the MMs and BBs for market risk management. it deals with fixed income and should feed to S&T later if you have the drive

Nov 29, 2013

I'm wondering the same thing. I haven't heard much about ST RH this year. Do you go to school in the south? From what I've heard STRH is definitely not your NY style sweatshop. Hours are less and comp is lower but that is what you'd expect in the south.

Nov 29, 2013

I think I've read somewhere here that comp is the same as ML back in 2007 i.e $60K

I'd be really interested to know if anyone knows about base, bonus, signon etc?

Nov 29, 2013

theyre well into recruiting from what i know (superday is pretty soon) but they are recruiting (at least from their targets.. i dont know what recruiting for STRH is like at other schools)
i hear salary is the same as the street, but substantially lower bonus (lower cost of living in atlanta, not as many hours, etc.)

Nov 29, 2013

Recruitment has already started. They are evaluating resumes and I'm pretty sure they are doing interviews next week at some places. Full comp is same as street with an adjustment for the lifestyle of course (less hours, lower cost of living,...). Great bank to learn and grow!

-BTW recruitment for them is brutal this year. They aren't hiring as many as they used to and I hear they are now getting applicants from Ivies which makes it harder for their usual target schools applicants.

Nov 29, 2013

Does anyone here know what base, bonus, and sign on are for post-mba associates at ST RH?

Nov 29, 2013

You guys are talking about FT and not summer analyst right? Because I would hate to know that I'm missing out on recruiting for an internship..

Nov 29, 2013

Yes FT

Nov 29, 2013

I don't have actual numbers but have heard from many sources that what dew2229 said above is accurate. Good luck. Let us know if you find any.

Regards

Nov 29, 2013

I have a friend who is starting with them next week, PM me if you need his contact, or if you have specific questions.

Nov 29, 2013

There's a very extensive review of STRH here: http://www.wallstreetoasis.com/forums/suntrust-rob...

Nov 29, 2013

Pretty respected I think considering they're not a BB. My company does business with them frequently and they always give us pretty good allocations. Working there, if you could, would be a pretty good experience.

Nov 29, 2013

Though old...ER, much of it is still relevant. They are probably considered more of a regional bank, or super regional...but, from my knowledge, the MM is where most of their deals are. Not sure about interviews though I heard their recruiting was getting much more stringent over the last couple years. I've heard/read that the culture is more laid back than NYC but the hours are still doing to be demanding at times. Exit opps will be similar to any other MM bank...with your best options being in the SE because the name is better known, arguably more respected than elsewhere.

Is this your only offer or do you have something to compare it to?

Regards

Nov 29, 2013

first finance interview from a non-finance major. nothing else yet...just tryin to prep for interviews. guess ill get the network going for some more info

Nov 29, 2013

I'm assuming this i for SA? I was talking to an alumni at my nontarget who summered there and lateralled into a top group for JPM full time. He didn't mention much stuff about the culture, but got good experience.

So if you summer there and network very hard, you should be able to go for FT at any BB, but I can't speak on exit ops after a FT analyst stint there. I'd imagine regional MM PE firms in the south would recruit out of that class but who knows.

Nov 29, 2013

Has anyone heard back from them re: SA? They said they have a slow process, but its been dead-air since the first (and only, from what they were saying) round in early Feb.

Nov 29, 2013

If you haven't heard from them since early Feb, I wouldn't get your hopes up.

Nov 29, 2013

They are the best IB in the world. In a league of their own that is above the bulge.

I don't think anyone compares to their ER and equity S&T leg, untouchable!

Nov 29, 2013
Ray Finkle:

They are the best IB in the world. In a league of their own that is above the bulge.

I don't think anyone compares to their ER and equity S&T leg, untouchable!

He obviously works for them.

Nov 29, 2013

Yeah you definitely should have heard back by now

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Nov 29, 2013

ask others too, but its more about fit. sure they'll ask you the major technicals, but will emphasize fit much much more. Just be a cool likeable guy who's easy to talk to and you should be set. dont slack off on technicals though...still know them.

Nov 29, 2013

Definitely more about fit than how finance savvy you are.

Nov 29, 2013

Is this SA or FT? and are you looking coverage group or product group?

Nov 29, 2013

in ATL?

Nov 29, 2013

Yeah, in Atlanta and for SA.

Nov 29, 2013

Last year they asked everyone to give 3 ways they would value a firm. Probably looking public comps, trans comps and dcf... if you gave them those 3 they would ask you to go into detail on each.

Also, knows what is in the news.

Nov 29, 2013

yea its mostly fit questions. maybe some resume stuff. very laid back culture. great firm

Nov 29, 2013

sucks - end of story. Considering the size of the overall bank, their DCM group is a total non-factor on Wall St.
Sorry.

Nov 29, 2013

Why can't people give more constructive feedback?

Nov 29, 2013

SunTrust sounds like the name of an Orange Juice Company

Nov 29, 2013

My response consists of two parts. First part was written by me in an email to someone asking me aboiut ST and the second was written to me from someone. Hope they help

1)Here is how SunTrust was on our campus. They interviewed 24 people and 3 of us got called for a final round in Atlanta. So 21 people were cut on first round. In comparison, GS interviewed 24 total (12 for IB and 12 for S&T) and called back 5 out of 24 for a final round. DB interviewed 24 in first round, 7 were called back for a second round and 3 were hired. Barclays interviewed only one round and I heard that like 7 out of 12 got an offer (we are their top feeder). As you can see, out of those numbers, SunTrust is quite selective. Their second round was supposed to be longer even than Goldman's (4 vs. 3 interviews), so that should also tell you something. In addition, with few exceptions, most of the people they called had almost all had at least one other interview and from what I remember, there was a lot of overlapping with Wachovia. I think that their minimum GPA requirement was the lowest, but I really don't think anyone with the minimum got an opportunity to interview. Bottomline is that SunTrust is quite selective (in my opinion) and cannot be used as a backup.

As far as the bank itself goes, I wouldn't ignore it. The MD who interviewed me was head of the M&A and said that the deals they closed were quite large and they seem to be doing a lot of healthcare stuff, which is the fastest growing field in America. If anything, it shows a lot of potential. SunTrust is huge in the South which is a great region for healtcare, so don't underestimate their ability to grow. Furthermore, the MD said that they were pretty relaxed about how many people get offered third year spots. BAsically, the two years and you are out mentality isn't very dominant there, so from that perspective, you could potentially be put on the VP track much faster there than at a BB. I would definitely consider them in the future after my internship, or at a later stage in my career.

2)SunTrust RH is pretty weak in equity investment banking. They hired 5 IBD analysts and like 2 associate. I would rank them among the lower end of MM. They were able to rank themselves among like top 25 in terms # of MM deals (defined by them deals around $50-300millions) but these deals are really small in volumns and fees. In terms of exit opportunity, I would not think too many would make to PE. Hours are pretty good compared to pretty much everywhere else. Management is relatively laid back (SunTrust's culture definitely beats Charlotte's BofA and Wachovia). The Equity IBD department only recruits at a few target schools like UNC, Emory, etc.

What you want to do is you might want to look into Debt Capital Market. They hired about 20 analysts this year and will commit to hire at least that number next year. They also brought in a few associates and VP's. Debt CM is divided amonst Bond Originations (which the private placement group is actually one of the top originators, and SunTrust is focused and good at investment grade bonds), Structured Leasing (an unique group, only a few banks have it), Asset Securitization (CDO, RMBS, CMBS, CDO's etc, doubled in past year), Syndications (grown and doing well), and Derivatives (equity and debt derivatives trading like credit default swaps, futures and options hedging etc). The Debt group is well managed by Beau Cummins, a former Derivatives trader from BofA NYC since mid 2005. A number of groups are essentially ran by his buddies from BofA Securities.

If you want to do SunTrust, I would recommend the debt Capital Markets Group. Equity IB has too few opening spots unless (and it's not that good). My buddy at Lehman said they hired 170 Equity IB analysts. He said "GS and Merill hired more."

Hours mostly 50-60 hours for Debt Capital Market (some groups more). I can't speak for M&A people. Bonus I don't want to disclose but it should be better than before this year. Bonus is definitely less than top MM like Wachovia, Piper Jaffray, Jefferies, etc because we don't work 80-100 hours here. Base pay is solid for a regional bank (not much less than NYC base).

Exit opportunity to a better MM firm like Wachovia - when the market is good, definitely, if you have read Monkey Business, when those DLJ (now Credit Suisse) analysts/associates leave, they replace them with second tiers jr bankers. Essentially at the lower level as long as you work hard and have good excel skills and a positive attitude (and the industry/product experience) you should be able to move to a better MM or even a BB. You will essentially be doing M&A for Joe and Bob's pizza joints vs Cingular & att wireless mergers.

Nov 29, 2013

Where do you go to school? I also received an offer from SunTrust DCM but I decided to go to another firm. Beau Cummins seems like a really good guy, he came and spoke at our school before recruitment began. The recruiting situation was very similiar at my school with them interviewing 25 on campus and then calling back 3 to come to Atlanta. Out of the two that were interviewed, they gave offers to 2 people including me.

Nov 29, 2013

I go to a Top 25 not in the Northeast. But I don't want to get more specific than that on the board

Nov 29, 2013

A lot of people from my school go to Wachovia in Charlotte or BB&T in Richmond, and I hear in New York that those are "dead ends."

Is there a similar perception about SunTrust and Atlanta?

Nov 29, 2013

Interned at ST DCM last summer and received a full time offer but ended up turning it down for a boutique. Overall, most people there have a very negative attitude and told me to get out and go to NYC because I'll never get paid there, despite the shorter hours. Recently there is a lot of moving around of top positions and everything seems relatively unstable. Recently, Head of Fixed Income Origination who later was head of FI sales as well left for GMAC after only 3 months or so.

Laidback work environment is the upside but I would watch out...

Nov 29, 2013

Major player in Atlanta/Southeast MM IB. I personally know two former SRH Analysts who are now working in PE. No clue on SRH's compensation.

Nov 29, 2013

I think current base is 60-65k. Bonus is light compared to the street. Kids who graduated with me got 10k 1st year 20k 2nd year, but that was a few years ago and that may not have been top bucket. One dude got 70+ as a 1st yr associate though. They just hired pretty heavily for this analyst class.

Definitely not street hours though, unless you're in the M&A group. I know of a few people who left for BB in NY, but I'm not sure if they're the exception or the rule.

Nov 29, 2013

Keep in mind you can't compare NYC money to Atlanta money. 65k will go a LOT farther in Atlanta... considering you could rent a pretty sick place for $500 - $1000 / month

Nov 29, 2013
aceon:

Keep in mind you can't compare NYC money to Atlanta money. 65k will go a LOT farther in Atlanta... considering you could rent a pretty sick place for $500 - $1000 / month

Let's not get crazy... $500 will get you 2 roommates in a not awesome area. $1k will get you a decent 1 bed room. $1300 could get you close to a sick place though. But I agree with the idea, considering $1300 in NY will get you a cardboard box on 150th st

Nov 29, 2013

I actually got an interview coming up with these guys... any suggestions? Also, does anyone have any info on their trading desks?

Nov 29, 2013

.

Nov 29, 2013

I interviewed with them and go to a target school. If you want to be in the south they are not a bad choice, if you want NY h/w cannot get an offer there, they are not a bad choice either. They are full service, have worked on multiple $BN deals this year and from an exit opportunity angle, people go from ST to NY BB.

fdba Emory Blaine and BBA or otherwise trying to find the perfect pseudonym.

Nov 29, 2013

.

Nov 29, 2013

has anyone heard back from their super day last weekend?

Nov 29, 2013

They gave out offers on Tuesday from what it sounds like. I would like to learn more about them? A good place to start? How is the training program? Exit opps?

Nov 29, 2013

I think they are co managers on mostly middle markets

Nov 29, 2013

Can someone ban jimbojones yet? Fool doesn't even work in banking haha.

They're definitely middle market and won't offer BB exit opps. to megafunds, but if you work in an M&A or Leveraged Finance capacity there (they have a balance sheet), you could position yourself to be a third year at a BB. Know some Wells Fargo/Macquarie people that did stuff like that.

Nov 29, 2013

It's that hard to move from MM to BB?

Nov 29, 2013

MM for sure (e.g. 100-year+ relationship with KO, and STRH doesn't even get involved on their deals any longer) and primarily co-manager roles, but will get bookrunner on some HY energy originations.

From what I've heard, experience there really can depend on what group you land in, but know several analysts from M&A and DCM who recently lateralled to BBs in NYC

Nov 29, 2013

I'm interested in finding out about this for Institutional Equity Sales and Trading as well in Atlanta.

Nov 29, 2013

It's where the players play.

And oh yeah - they ride on them things like everyday.

Nov 29, 2013

Also:

Big beats, hit streets, see gangsta's roaming. And parties dont stop til eight in the morning.

Nov 29, 2013

The best thing that ever came out of Atlanta?

The bus out of there.

(/--)/ party time (--)

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Nov 29, 2013

.

Nov 29, 2013

What position are you looking into? Analyst?

Nov 29, 2013

Hoping to join in as an Associate

Nov 29, 2013

Feel free to PM me, I can expand on the M&A group specifically or IB as a whole.

Nov 29, 2013

heloo17, is it okay if I PM you with questions too? I'm also looking into STRH, but as an analyst.

Nov 29, 2013

They like their southern schools. Had two alums forward my resume, but I didn't even get a phone screen (ivy).

Have a friend going there for FT, from what he's told me M&A/LevFin/Energy are their strongest groups. Heard the interview process was pretty straight forward and easy for him. They supposedly don't work as much as the NYC banks, and this is reflected in their bonus.

Nov 29, 2013

I see. Thanks! I'll be sure to keep that in mind.
Duke's a geographically Southern school, but I know it isn't "Southern" like Terry (UGA) or Emory. I'm planning on visiting the Atlanta office soon to talk with some alums. I am from GA and moving to NYC would be awesome, but I would be equally happy with working in Atlanta so I am hoping to get a feel of what it would be like to work there by visiting and getting some info from whoever I meet.

Nov 29, 2013

If you have alumni connections, you should be fine and Duke is "Southern" enough. They are competitive in the SE.

Nov 29, 2013

Does anybody know what the comp would be for an analyst at the ATL office?

Nov 29, 2013

Base and signing are the same as BB on the street. Bonuses are smaller

Nov 29, 2013

they execute, it's where you want to be. Obviously not going to be BB-size deals for the most part, though. I think I've heard their healthcare group is good, but not sure.

Nov 29, 2013

I'm in HC now.

But I'm looking at their Consumer/Retail group. Any opinions on that?

Nov 29, 2013

Know a guy who left for BlackRock PMG after two years in the Atlanta office. That's all I can contribute to this thread.

Nov 29, 2013

They execute, and are a full service IB. I know last year they did a follow on debt offerings for Lowes Home Improvement and some other major industrials of course this was in tandem with few other firms on the deal.

'We're bigger than U.S. Steel"

Nov 29, 2013

So, everyone is in agreement that they are structured such that industry groups are not deferring all execution responsibilities to product groups?

Nov 29, 2013

do they only take resumes for OCR?

Nov 29, 2013

Doubtful. Im looking to lateral and they definitely took my resume.

Speaking of laterals: anyone know of any IB groups looking to hire soon/now? Hit me up with some leads!

Nov 29, 2013

They were on OCR at schools in Texas

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Nov 29, 2013

They gave out offers last night. Im not sure when the alternates are notified.

Nov 29, 2013

-.

Nov 29, 2013

I know 4-5 got offers yesterday

Nov 29, 2013

Would like to know this .... any word is appreciated .... thanks

Nov 29, 2013

I think I remember hearing that any technicals would be pretty basic, stuff like "how does capex flow through the financial statements."

Are you interviewing for DCM or ECM/M&A? SunTrust's entire investment banking side is awful, but I guess you take what you can in this market.

Nov 29, 2013

Do either of you happen to know what comp is like?

Nov 29, 2013

as far as i know comp is a total joke. i've heard some really insulting numbers, especially in DCM.

Nov 29, 2013

Thanks, and It was for the Investment Banking, what is awful about it? What things have you heard?

Nov 29, 2013

who?

Nov 29, 2013

SunTrust has i-banking?

Hmmm...

Nov 29, 2013

Let's make that up-to-date.. constructive.. info

Nov 29, 2013

They are broken down between DCM and ECM. There are two offices in ATL (one in buckhead and one in midtown). I think DCM is in midtown and the other office in buckhead is where ECM and M&A reside. I could be wrong or have that mixed up.

They have the standard base pay as any other bank and then they probably a little bit lower bonuses.

They do a lot of underwriting of real estate deals, and small regional M&A in the southeast.

you will get some decent exposure there... don't turn your nose up at it if you get an offer because they typically hire most of their summers full time (unless you suck or get screwed somehow).

Nov 29, 2013

I interviewed with them as well. but still haven't heard a word. wantstobeabanker did you interview yet?

Nov 29, 2013
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