Time Sensitive: Top 3 Regional BB vs Other BB NY
Ok guys--really looking for some input from people in the industry. Is it worth it to interview and potentially renege on a top 3 BB firm in a non headlining group (ie. GS TMT SF comes to mind or UBS LA etc) for another BB (ranked outside the top 3 in terms of league tables, etc) in NYC?
How much more valuable is the NYC experience at the analyst level both in terms of buyside opportunities and long term banking career development? There is always the opportunity, albeit not guaranteed, to transfer from the "top" BB regional to NYC...but that would probably result in having to do a 3 year analyst program. Overall in terms of exit opps or for a career banker perspective, do the benefits of being in NYC headquarters outweigh the downside of reneging, burning bridges, etc.
Ugh there is so much wrong with your thought process that I don't know where to begin. At the end of the day though, it rather revolves on what do you want?
You cited GS TMT in SF and UBS LA, which are two different experiences as regards exit opps. If you want an exit into an industry-focused buyside shop, being in the city where that industry is centered is a huge advantage. Even if you want to get back to NYC, you can still do so from your regional location (assuming a major center like SF, LA, Houston).
So, in full honesty, if it's a top group in not-NYC, I would suggest staying there and coming back to NYC on the buyside if so inclined.
When I cited GS TMT and UBS LA as examples I meant to reference them as "top" groups at various banks that are known to be excellent despite being outside of headquarters. I wasn't aware they offer different experiences in terms of exit opps..it was just my understanding that they are both heavily recruited by megafunds..but either way, that's not really the point.
What I mean is at this point I have no idea what I want to do after the analyst stint. Who knows what PE will look like in 2 years and what hiring levels will be at. My question is given that I do not know and that the regional group I am joining is not a top, well known group such as GS SF or something like that, would you still choose it over the NYC BB?
How far does a top 3 BB name go vs NYC experience at a DB, Barcap, etc
Ah, ok, that's a bit clearer. What I said about industry-cities still stands, if you're interested in Energy (Houston) or Tech (SF), said cities have an advantage. That also applies to different exit opps UBS LA vs GS TMT in SF; GS TMT would be more likely to place into a tech-focused PE shop than UBS LA, while both have megafund opportunities.
Given that in order to get NYC at a DB/BARC/etc. you'd have to renege on a GS/MS/JPM in a regional office, I simply don't see the "NYC advantage" (because it seems small to begin with) outweighing the burning-bridges element (which is definitely appreciable) here. You can still exit to megafunds from GS/MS/JPM in LA or whatnot.
I'd say the name outweighs the location, but that's merely my perspective from what I've seen.
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