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Comments (8)

Nov 2, 2016 - 12:49pm

I am not familiar with Lazard Chicago or BAML NYC, however, you would probably be crazy to take Lazard Chicago over BAML NYC contingent on what group your placed in (i.e. are we talking about Capital Markets, IB, etc.). The more important factor is that a NYC > Any Other Location due to the sheer size of exit opportunities and larger network to build. Without question, if the choice is for IBD BAML NYC in a coverage or product group, that would be the better choice over LAZ Chicago. However, that comment is very uninformed because I know nothing about LAZ Chicago.

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Nov 3, 2016 - 10:47am

Bob-heh, take everything I say with a grain of salt. I don't know anything about Chicago banking and am also only an SA (starting FT when I graduate). First off, it depends on what you want to do. LAZ does M&A/Rest. You probably won't get as much exposure to equity/debt capital raises or specialized in a particular industry, assuming you place in coverage at BAML. That is something important to think about what you want to do specifically within IBD. Secondly, any sane person would take BAML NYC over LAZ CHI because we are talking about BAML, not UBS. They are a top BB bank, with great groups across products and coverage, some better than others, but still nonetheless very enviable positions to be at. The issue is that you're comparing the LAZ name to a NYC bank. If you were comparing LAZ NYC to BAML NYC then it's a different story. But because you're coming from a geography that does not have as much opportunity or finance business, it doesn't carry as much weight. I would guarantee (and this is a bullshit opinion devoid of facts or experience) but if you went to BAML NYC and wanted to leave after 2 years you would get equal or better (and without question a greater diversity of looks) than LAZ CHI. If you look at any regional bank, you will see patterns (SF as an exception) that exits typically stay in that area to a small group of shops (20 or so) with maybe 20% of classes heading off to other areas. NYC has a gigantic amount of opps and is the best place to be just from a network/size standpoint. This was a very qualitative answer with no data backing so take it with a grain of salt. You would be an idiot though, if you placed in coverage or product at BAML NYC to take LAZ CHI over it. That would not be a smart move from a career, life experience, perspective. Undoubtedly.

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