Top Chicago IB

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Rank: Monkey | 48

Background: Notre Dame sophomore looking into Investment Banking internships/jobs in Chicago.

Was wondering if there was a list or if people had suggestions of top IB firms and groups to start networking with.

Comments (104)

Feb 1, 2019

Was on vacation there and tried to set up some coffee meetings but couldn't find a ton, ended up connected with a few alumni. Seemed like William Blair had the largest presence from what I could see on linkedIn but I could be wrong.

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Feb 1, 2019

Thanks for info. They've come up a fair amount, probably best MM in Chicago so wouldn't be a bad gig.

Feb 1, 2019

Citi, GS, and Barclays all have a strong Chicago presence.

Feb 1, 2019

All the BBs, Lincoln International, William Blair. Also know Houlihan, Greenhill, Lazard, Baird, Duff & Phelps, and others have significant presence.

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Mar 1, 2019

FYI a handful of people at Duff & Phelps are actively looking to make a lateral move... not sure if that's an option you would want to explore

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Feb 1, 2019

Citi Chicago has the largest office of all the BBs in Chicago. Following would be GS and Barclays. MS no longer has junior staff in Chicago, only coverage MDs.

William Blair, Baird, Harris Williams, etc. are all reputable MM firms with large offices/headquarters in Chicago.

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Feb 1, 2019

Harris Williams doesn't have an office in Chicago.

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Feb 1, 2019

Apologies, you're right

Feb 2, 2019

also weird: at MBA associate level, GS doesn't do internships in Chicago. Not sure about at the analyst level

Feb 6, 2019

...

Feb 1, 2019

I think all Chicago analysts are being relocated to New York.

Feb 18, 2019

...

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Feb 28, 2019

What's first year comp at Blair in Chicago compared to a BB?

Mar 2, 2019

Blair pays in line with the highest paying banks in New York. Benefit of living in Chicago too.

Feb 1, 2019

Barclays - TMT
GS - Industrials
Citi - Industrials
Houlihan - Restructuring
JPM - Automotive
Macquarie - Education
Moelis - Telecom, but they do some other stuff
Blair - everything

Evercore, Rothschild and PWP are in Chicago, but all are 1 year old so not sure what their deal flow looks like yet

Feb 1, 2019

GS has a strong FIG group in Chicago, headed by Eric Neveux. Citi mainly focuses on industrials, but I believe their analyst program in Chicago is generalist.

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Feb 6, 2019

Moelis Chicago Telecom is outdated. They do not cover Telecom in that office.

They actually cover Food Retail, paper packaging, agriculture, FIG, and Tranportation / Logistics

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Feb 7, 2019

You would be remiss not to include BMO Capital Markets.

100+ bankers (30+ MD/Ds) on IBD side in Chicago. Full coverage groups across Industrials, Food/Consumer, Real Estate. Sizeable LevFin & M&A group presence.

Feb 1, 2019

Well aware of BMO in Chicago. My list was intended to be the top groups in Chicago, hence why I left CS off since GS and Citi have better industrials/business services groups

Feb 1, 2019

Lazard has a large restructuring group in Chicago, if that's your thing

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Feb 1, 2019
__tech_banking:

Lazard has a large restructuring group in Chicago, if that's your thing

Lazard has a large M&A practice in Chicago as well, headed by George Bilicic

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Feb 6, 2019

Is this traditional Lazard or Lazard MM?

Feb 2, 2019

CS has a large industrials and business services group in Chicago

Feb 6, 2019

Both Sam Shah and Raghu Velamati who headed business services at CS are now at Macquarie. Not sure if they rebuilt the group out there.

Feb 1, 2019

I think they only headed Knowledge Services or something like that at CS. From what I've heard, the Macquarie Chicago office mainly does education deals, and has done like every education software deal in the past 2 years.

But CS lost 4 MDs in one summer (2 to GS, 2 to Macquarie), so wonder how that office is doing now. Know they were the go-to Business Services group on the street before that summer

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Feb 2, 2019

Can someone tell me how well known & the reputation of Dresner Partners in Chicago?

Feb 2, 2019

bump

Feb 6, 2019

Not sure about full-time, but I know people who have interned there in their junior year summer and ended up placing at BBs and MMs like Blair and Baird for full-time.

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Feb 2, 2019

Do you know if they hire interns?

Feb 8, 2019

Recognizable lower-middle market boutique in Chicago. Usually people leave to go to larger middle markets (Blair, Baird, etc.). Seems like deal flow has decreased over the years. Have heard some questionable things about culture.

Feb 2, 2019

I have off-cycle internship. People I spoke with were nice. However, Glassdoor comments are a few years old. They say they are MM??

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Feb 2, 2019

Perella Weinberg Partners

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Feb 6, 2019

Greenhill Chicago is a solid shop for PE recruiting. They have a rather small analyst class every year (around 2-4?). Prior placements at solid UMM funds like Golden Gate and Pegasus. I know someone went to Warburg Pincus NYC (a little while back). Also from what I've heard, the outgoing analysts this year are heading to Silver Lake and Madison Dearborn.

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Feb 6, 2019

What are typical buyside exit opps for Chicago IB analysts?

Feb 1, 2019
Jonny_1:

What are typical buyside exit opps for Chicago IB analysts?

Gee, do you think it depends on the group and firm?

Feb 6, 2019

Apologies, was referring to the firms that have been discussed thoroughly within the thread, the likes of Blair, Baird, Macquarie, PJC, HL, and satellite BB offices. Obviously group dependent but where is the average Blair analyst landing? Obviously they may be at a disadvantage in comparison to BB/EB NU analysts, but curious to see where they end up on average

Feb 6, 2019

Blair hands down if you want to stay in Chicago long-term. Baird is a step down, but very strong presence in Chicago

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Feb 6, 2019

William Blair seems like a good shop. I interviewed with them in school, was impressed with the culture/feel of it . . conservative, no nonsense approach. Not chasing the latest fad, just building their business in a slow and sustainable way.

I've heard good things about Moelis in CHI. Know a couple ppl who've been through there for internships and FT, all have said good things about it. They worked hard but learned a lot and liked the people.

Ditto for Jefferies, people pretty pleased in that office (by banking standards).

Lazard CHI blows, everyone hates it there. Somewhat true of the whole bank but especially CHI.

I'm less familiar with JPM/UBS/CS, except to say that they all hard large Industrials teams in Chicago when I was in school there 7-8 yrs ago, and they recruited heavily, but I don't know if that's applicable today.

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Feb 6, 2019

Why the MS? Someone at Lazard offended? Sorry man, the kids need the truth. BTW, I heard Baird sucks too.

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Feb 7, 2019

Any specifics you could share on Baird? Just curious what you've heard.

Feb 18, 2019

Jefferies Chicago office has no junior bankers.

Funniest
Feb 6, 2019

I heard HC was growing there. But then again without Sage doing wife swaps to win business like back in the day, maybe growth has stalled.

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Feb 6, 2019

PJC's office there is pretty much all debt/restructuring.

Feb 1, 2019

Also have a FIG coverage team

Feb 6, 2019

Why go to Chicago when you can go to Milwaukee and work at Baird. Easily the best bang for your buck (get it?) if you are practical about it!

Feb 6, 2019

This may be dated knowledge, but pretty sure Baird's IB was mainly in Chicago. ER and the wealth management business were in Milwaukee.

Feb 1, 2019
IllumiNation:

This may be dated knowledge, but pretty sure Baird's IB was mainly in Chicago. ER and the wealth management business were in Milwaukee.

Majority is, I think the MD split is probably 30/70 MKE to CHI

Feb 6, 2019
CCme:

Easily the best bang for your buck (get it?)

I don't get it.

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Feb 6, 2019

Milwaukee Bucks

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Feb 1, 2019

How much of a disadvantage are Chicago BB/EB analysts at in comparison to their NYC counterparts when it comes to PE recruiting (MegaUMM) / top exit opps?

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Feb 15, 2019

Interested as well

Feb 7, 2019

I would definitely recommend looking at Baird. Its a great shop and is pretty underrated. Very friendly people and the company as a whole seems to actually care about its people (at least compared to other IBs).

Feb 8, 2019

I will be interning with BMO Harris in a middle office role in Chicago this summer. Any suggestions about how to go about setting up shadows with other bankers in the office/coffee chats with bankers from other banks?

Feb 13, 2019

Can anyone comment on JPM presence? Surprised they aren't talked about more given Chase tower / commercial bank HQ

Feb 1, 2019

Automotive and Industrials. Clients I know of are Caterpillar, John Deere, Harley Davidson and Ford

Mar 2, 2019

I can personally confirm the accuracy of Trippy's comment regarding JPM's client exposure.

Feb 15, 2019

How are the top BB's (JPM/GS/MS) FIG and Industrials teams in Chicago? Do they have similar exit opps to their counterparts in NYC?

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Feb 18, 2019

JPM and MS don't have any FIG out of Chicago, but GS does. Have heard nightmares about GS Chicago from former analysts and an associate. MS Chicago as someone mentioned above earlier no longer has junior bankers. From what I heard, any analysts still there are just wrapping up their analyst years before leaving and some went to NYC. JPM has a small part of their Diversified Industrials team in Chicago

"If you ain't first, you're last!" - GOAT

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Feb 1, 2019

Does GS FIG in Chicago have similar exit opps as GS FIG in NY? Obviously GS FIG is known as a top group on the street, just curious if that stays true with the Chicago group

Feb 15, 2019

What about Stifel? seems that they have an IB division in Chicago. Do they ever get any deals?

Feb 1, 2019

Moved half their Chicago office to NYC last summer, so doubt deal flow was / is strong. It's also only FIG...

Feb 28, 2019

Baird hardly takes any interns in Chicago and most people will usually forward you to folks in Milwaukee to talk to.

WB only hires ND athletes because there are a couple MDs that were former athletes there, but it is the best place based in Chicago.

Lincoln is growing but have been on this site for the wrong reasons.
HL is good for IB too, but restructuring is their strongpoint. Same goes for Lazard.

GS, Evercore, BAML, CS, MS all have a notable ND presence in Chicago, with Citi, Moelis, Greenhill, PWP having less of one from what I have heard.

Look into some other Chicago and midwest-based places such as Triple Tree, Stout Risius Ross, XMS, Marathon, Loop, Madison Street, Ziegler, etc. All these places are especially strong in some areas.

P.S: B.R. is sure to reprimand you for not talking to him first.

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Feb 1, 2019
firstgen:

Baird hardly takes any interns in Chicago and most people will usually forward you to folks in Milwaukee to talk to.

WB only hires ND athletes because there are a couple MDs that were former athletes there, but it is the best place based in Chicago.

Lincoln is growing but have been on this site for the wrong reasons.
HL is good for IB too, but restructuring is their strongpoint. Same goes for Lazard.

GS, Evercore, BAML, CS, MS all have a notable ND presence in Chicago, with Citi, Moelis, Greenhill, PWP having less of one from what I have heard.

Look into some other Chicago and midwest-based places such as Triple Tree, Stout Risius Ross, XMS, Marathon, Loop, Madison Street, Ziegler, etc. All these places are especially strong in some areas.

P.S: B.R. is sure to reprimand you for not talking to him first.

HL's Food team is its best Chicago group. Rx is stronger in Minny and NY.

You skipped some other decent MM boutiques and went straight to some dogshit shops. Loop and Madison Street are straight trash. TT is in Minny, which makes no sense if he is asking about Chicago.

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Feb 18, 2019

I clearly said "other Midwest" firms as well; plenty of other people on the thread said to go ahead and look at Milwaukee too. And sorry we're not all big shots like you, gotta spread the apps open to the lesser ones too. Advice that says only to apply to the best places is what fucks kids over on this site.

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Feb 6, 2019

I am sorry, but this is completely inaccurate. I work in Chicago and have friends at all these banks. Please only post here if you really know information and if that information is current. There is so much out dated information on this thread.

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Feb 18, 2019

Baird has a decent presence in Chicago, it is a fairly decent sized office that has an intern program.

WB hires many of analysts from schools like U of I, IU, Miami OH (only a few a year), and other midwest schools outside of ND. Yes ND has a large presence in ALL Chicago IB shops.

Not trying to start an argument, but just curious if this is from a source or your experience because it is different than mine.

"If you ain't first, you're last!" - GOAT

Feb 18, 2019

I just meant as a ND sophomore like this kid, his best bet is being an athlete, but of course WB hires from many schools. Baird absolutely has a solid Chicago presence but a smaller ND presence and smaller intern class overall than MKE.

Thank you for your mercy as the other guy in the ivory castle decided today was the day to roast someone who recently went through the process of networking with dozens of CHI firms and only has the info he (I) got from that. I talked to people at every firm I listed and yes, I know they're not all the best. Sorry to everyone if people I talked to straight up lied or led me astray because I don't have a 3.95 GPA.

Feb 6, 2019

I'd give you MS for how terrible of a post this is, but apparently I've given out too many lately.

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Feb 18, 2019

BMO CM in Chicago has a significant ND presence across industrials, fc&r and m&a. Usually takes 2-4 ND interns per year in Chicago. CS also usually fills 3 of their 5 spots through ND. One of their directors has run recruiting since he was an associate supports his fellow ND people.

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Feb 18, 2019

How is the IB culture at the top shops (BB/EB) in Chicago different in comparison to in NYC?

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Feb 7, 2019

Most any Chicago bank culture > any NYC bank culture.

Midwest is just a different vibe.

Feb 18, 2019

Could you elaborate on this?

Feb 19, 2019

William Blair is HQ'd in Chicago and pretty solid. Other than that, MS & BAML pretty strong. All banks have some presence there

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Feb 1, 2019

Uhhhhhh MS and BAML are not strong here lol. MS gave their ASO's NYC return offers, and are moving to only a senior presence in the city. BAML (lol) has a super small team compared to other BBs in Chicago and predominately works on NYC deals as their sourcing isn't great

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Most Helpful
Mar 2, 2019

Successfully finished recruiting for Chicago at associate level:

Lazard - opportunities with both Laz and Laz MM; met a few individuals who left Lazard for BB in Chicago based on the culture of office in Chicago.

Moelis - newer group in same building as Lazard; diverse offering of coverage groups; driven and affable group of people; certainly work hard; nice mix of individuals from top business schools

Goldman - supposedly strong group; didn't recruit at MBA level

Barclays - enjoyable group of people; mix of industrials, packaging and sponsors work; focused on lifestyle, healthy balance between major business schools in area

Baird - outgoing and relaxed; do well in the Chicago market; more of a diverse offering similar to William Blair; mix from various business schools; headquartered in Milwaukee but focused on Chicago market

Blair - great culture, new building, similar diverse offering to Baird given the firm is actually headquartered in Chicago; target schools include Harvard, Penn, UChicago, and Michigan.

JPM - a phenomenal group focused on automotive and diversified industrials; focused on building out M&A practice in Chicago to compete with Citi; UChicago HEAVY

CS - extreme turnover; office is also dominated by UChicago; packaging and industrials work; not as friendly and outgoing as Citi and JPM at the BB level

Citi - largest BB presence in Chicago; global head of M&A sits in Chicago; healthy balance between top business schools, obvious focus on diversified industrials; young MD's

BAML - focusing on mid-market practice; nice group of guys but IBD platform, nationwide, has struggled over the past several years

Lincoln - small office with limited opportunities; smart individuals but not too personable

Perella - brand new office; taking 1-2 summer associates; not much else

Evercore - small office; maybe will increase in size to compete with Lazard/Moelis moving forward

MS - senior bankers; most summer associates had offers transferred to NYC last year

Houlihan - didn't recruit here; strong RX practice obviously; heard summer internship yield isn't the best

BMO - headquartered in Chicago (US-based operations); strong committment to Chicago; quite a few former UBS people; many former military bankers

Wells - no significant presence; hired an MD from JPM to focus on Chicago presence moving forward; will be on par with Perella in terms of size in the coming years

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Feb 25, 2019

Anyone know about the UBS or Deutsche office in Chicago?

Mar 2, 2019

Nonexistent = Winding Down

Feb 18, 2019

DB maybe, UBS was hiring laterals recently. Had a friend interview there

"If you ain't first, you're last!" - GOAT

Feb 28, 2019

I thought investment banking scene in Chicago was sort of dying. Is it really a city gen Z kids should hitch their wagon to? The state and city taxes are brutal -- as is the weather, with no mountains to take make up for it.

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Mar 4, 2019

As an investment banker - the taxes you should be worried most about are income taxes. There is no city income tax in Chicago and Illinois has a flat 4.95%. Compare that to top state brackets in CA (13%+) and NY (~9%) - so not sure what you mean by 'brutal'. Its much better than the two larger finance markets.

Summers are awesome but fair point on mountains.

I also dont think anyone from Gen Z is hitching their wagon to any city. Banking is a global business - its just more about where you are living at the moment.

Feb 1, 2019
DoddFrank:

As an investment banker - the taxes you should be worried most about are income taxes. There is no city income tax in Chicago and Illinois has a flat 4.95%. Compare that to top state brackets in CA (13%+) and NY (~9%) - so not sure what you mean by 'brutal'. Its much better than the two larger finance markets.

Doesn't sound like the discrepancy will be this wide for very long with ole JB at the helm

Mar 5, 2019

Lazard, Lazard MM, Blair, Baird and Moelis seem to place top PE (MM) in Chicago based off Linkedin results. You might see more results for Baird and Blair simply because they have larger intern classes. I would probably start with these banks