Why is it all about BB/EB on here

Let me start of by saying that I'm an analyst at a MM Bank in London, however I guess this is pretty much the same in US.

I've graduated from a good but not elite school (Durham, Warwick, European Targets like RSM or ESCP) pretty much the equivalent of schools like Cornell, Duke, Chicago. The same is true for the majority of my analyst class with some outsiders from Oxbridge, Imperial and LSE.
I know plenty of other analysts and former interns from other schools + good experience at multiple different different firms such as Baird, SocGen, ING etc.

Yet the majority of people only mention BB/EB's here. I've made it into the AC a few EB's and 2 BB's and the competition was brutal. Almost everyone knew their shit and the decision often came down to "soft factors".

So why aren't more people talking about firms outside of the BB/EB space here? At a certain point recruiting is mostly a numbers game. Apply to as many firms as possible.

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Comments (45)

  • Analyst 1 in IB-M&A
Aug 10, 2020 - 8:41am

Because they offer better opportunities, pay, and prestige than other banks. While there are some exceptions, the better talent will tend to go to the better banks

Honestly I dont see why it's so surprising. Every industry has firms like that. People in consulting want to go to MBB, people in tech want to go to FAANG, etc.

  • Prospect in Other
Aug 10, 2020 - 9:05am

I know this isn't the point of this thread, and I'm sorry but consider my question a bump so that someone else can come help you with your question. What's UCL like? I'll be starting there soon, and I'm curious to know whether it's a target for London firms. It's worth nothing that I'm an international (Indian citizen).

Aug 10, 2020 - 9:16am

I would say that then you were not lucky. Having that many ACs and not converting is not the norm.

Anyways there are great shops there that will allow you to lateral to these firms or to develop an interesting career there if you happen to stay in the long-term.

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  • Intern in IB-M&A
Aug 10, 2020 - 10:26am

I'd say there is plenty of discussion here about non-BB/EBs. Places like Jefferies, Gugg, Blair, RBC, etc all get talked about a ton. People obviously want to work at the best firm possible, hence the interest in BB/EBs, but there's definitely other banks that are discussed a lot as well.

  • Intern in IB - Gen
Aug 10, 2020 - 11:20am

I was pleasantly surprised by all the discussion on boutiques like DBO, Liontree, Raine, Dyal from a month ago. Nice change from the 20th BB vs EB post.

  • Associate 1 in IB - Gen
Aug 10, 2020 - 11:05am

In London, even more so than the U.S., it matters if you want to go to PE or a HF. There are very limited spots and most recruiters won't even look at you unless you're at a BB or EB. It doesn't even matter if you have had an objectively higher quality experience at a lower tier bank. No headhunter will care to take the time to discern. Branding is everything. In the U.S., from what I can tell, you generally have more opportunities outside of banking if you're at a MM or lesser boutique.

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  • Intern in Consulting
Aug 10, 2020 - 11:05am

Lol those are not the equivalent of the US schools you listed. It works differently in the US, Cornell, Duke and Chicago are far more elite than Durham/Warwick and have really good placement into practically all BBs and EBs

  • Intern in IB - Gen
Aug 10, 2020 - 11:25am

I was about to say this as well. UChicago, Duke, and Cornell are elite and extremely competitive to get into. A better comparison would probably be UCL, LSE, and Imperial in the UK.

  • Intern in Consulting
Aug 13, 2020 - 12:16pm

Lol someone goes to Warwick. Sorry to burst your bubble but Bocconi also places much worse than Cornell, Duke, and Chicago. Just look at past threads on here. Ppl are only hired from Bocconi to fill an italian-speaking quota.

Funniest
Aug 13, 2020 - 1:56pm

I'm sure they're killing it at the risk management desk!

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  • Intern in IB-M&A
Aug 10, 2020 - 11:57am

Warwick got way better placement than Durham, RSM and ESCP. ESCP take in people from Wwk that don't do well in academics and just their for the bants

Mar 23, 2021 - 10:30am

Coming back to threads like this make me laugh, do these people not know Warwick has more people at the banks than Oxbridge and Imperial. Not that the Uni is more prestigious or whatever stupid metric makes people happy, but in terms of sheer headcount, it's likely only beaten by LSE and maybe UCL at most banks.

  • Analyst 1 in IB - Gen
Mar 23, 2021 - 11:44am

This is a bad comparison, they have a much higher business class size. In terms of exit opps per head, Oxbridge is much better. Even from experience in my firm and interviewing elsewhere, at top firms it was usually just Oxbridge / LSE, with a few other "marginal" spots to KCL, UCL, Imperial, and Warwick in terms of UK unis, but for the most part Oxbridge/LSE that I've seen in person tbh. Obviously limited sample size here 

  • Analyst 1 in IB - Gen
Mar 23, 2021 - 11:41am

Hmm... in terms of overall exit opps out of uni (not just LDN focused), ESCP is much better than Warwick, period. In terms of London recruiting only, probably equal in brand name terms (but ESCP would have better chances due to language skills, 1yr internships, etc). I just feel like ESCP usually don't apply in London like other French like HEC and EDHEC do. 

  • Analyst 1 in IB - Gen
Mar 23, 2021 - 11:47am

Because these are the best firms and when you apply out of college, you type on google "who are the top 10 investment banks" and you apply there. Better pay generally, better brand name, better opps, better deals, smarter people, etc. 
 

Obviously there is more, but this is what people aim to first. 
 

Then is it competitive ? Hell yeah, but if you don't apply to Goldman because you're afraid you might not know your technicals well enough, you wouldn't amount to much in banking anyways 

Mar 23, 2021 - 2:43pm

I've worked on a traditional MM bank and then a top BB and I can safely say that there's a huge difference in deals/clients/peers and overall experience. Execution on a $200MM sellside is a joke compared to a $2Bn one. That being said, solid MM banks can be a great starting point for juniors in the industry and maybe a more sustainable path for a longer term banking career.

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  • Associate 2 in PE - LBOs
Mar 23, 2021 - 4:05pm

Did this man just compare Durham to the University of Chicago; one of the most renowned Universities in the world?

- not a UChicago grad

Jun 12, 2021 - 11:57am

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  • Intern in IB-M&A
Jun 14, 2021 - 1:08pm

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