IBD

European national living & working in London since 2014. 4 years IBD, 3 years PE & Special Sits at a US-based fund. Happy to answer any questions. Provocative thought: I think young bankers have it all. A job without risks (sitting at their desks moving fingers on a keyboard) with a salary almost all new grads can dream of. However, they complain because the privilege does not sink in. I have seen a bunch of new analyst classes and they all make the same mistakes, complain for the same reasons, change job too quickly and end up regretting it. My 2 cents: you need to find a mentor, i.e. a

10 Jun 2021

Hi everyone, I wanted to create a post about my process on GS for Junior Analyst in IBD. Sadly I did not get it but anyways. Context: Applied in Mexico City, 2 years of experience in AM and from a mexican target school. 1.- Apply through the page 2.- Webinar of general information (No filter yet) 3.- Steps 1 and 2 were in January 2021, and in mid february I got an email saying I have passed to the next round (HireVue interview) 3.1.- HireVue Interview was really easy, general questions like walk me through your Resume, and situational ones like "What would you do if a client is asking you to

17 Mar 2021

Hi Guys, I would like to ask, does the need for Visa Sponsorship in the UK put me into disadvantage when applying to investment banks in London for Summer Internship? I currently have Student Visa that allows me to work without sponsorship. I am not planning to lie on my application when the question is if I will need sponsorship in the FUTURE I will select YES even though I wouldn't need it for the SA role I am applying to, just in case FT offer afterwards. Just want to know if this will put me in disadvantage compared to others who don't need Visa, especially now when the work visa system

01 Aug 2021

What are some interesting M&A / IBD deals going on right now (or recently) that would be interesting to read about to learn more about global developments?

16 Nov 2020

Hi, I know that many threads on exits in London have already been opened, but I would really like to have one specifically on Hedge Funds. It would be great to recollect info from where headhunters seek candidates for Hedge Funds in London! If possible, also with the specification about which kind of HF strategy is more suitable from each bank (e.g. I imagine that PJT's analyst programme in advisory+RX makes it a target place from distressed/SS HF... but don't really know). Let's discuss here!

28 Oct 2020

Wondering which JPM IB groups in London are the best / how they rank internally. (TMT/ C&R / DI / NRE / FIG etc). Thanks! Would also benefit from a general ranking of the bank from a Ldn perspective :)

27 Jan 2021

Hey guys, I was wondering if anyone could shed some light on the exits/experience and any other aspect of GHL RX. They seem to do a lot better now with Augustine but I wonder if that increased deal flow is sustainable given the current environment. Also they had some good exits like centerbridge/cerberus/sixth street. Are those just one offs or is the group likely to get good exits as they've been on the up. Also, how likely is it that the group will continue to increase its penetration of mandates now that rx work has slowed down thanks

25 Apr 2021

I have landed a summer internship at a BB in IBD, and was wondering which IBD teams are most similar to S&T, as that is my ideal job. For now have heard that ECM and DCM are the closest, but want to hear more thoughts on this.

25 May 2021

Hi guys, I'm currently making a choice between LSE A&F and HSG MBF. My goal is to eventually work in London for a tier-1 IB. Although LSE is definitely the bigger brand, particularly in London, I wouldn't have to do any extra internships. HSG would allow me to do a SA and an OC before applying to London in 2022. So ultimately the question is: LSE with current profile vs. HSG with 2 more internships in M&A. For context, this is my current profile: - Grew up in London, went to a German school with Abitur 1.8 - Non-target uni in Netherlands with 8.0 GPA (3.5 equivalent) - Exchange to Bocconi -

18 May 2021

Hey fellow monkeys, the title says it all. Was wondering if post MBA associates, in particular from M7 schools, get paid less compared to other BBs. The consensus seems to be that a decent post MBA A1 can pull in on average around 300k per year (it's probably somewhat higher at EVR and CVP and somewhat lower at places like WFC). Would appreciate if you all could share some experiences and numbers around the GS discount. Thanks y'all

23 Mar 2021

Hi Monkeys, I recently checked the status of the application portal and it said "You are under consideration for an interview" for my London IBD SA, but I received nothing as of mails from them. Yet my other application for a continental off-cycle internship (same position) is still "Your application is being evaluated" Does that mean anything? Would I receive a sudden call/mail/interview soon? Or it is just the tricks of JPM HR team... This is my first time applying for SA, would like to know more!! Thanks!!

08 Oct 2020

Currently stuck between the first 3 options in the title for Undergrad, but leaning towards UCLA. Any advice for which school would best set me up for a career in IB or consulting is appreciated! Also waitlisted at Cal Berkeley, Cornell, Northwestern, and Georgetown. Have around 10 days to decide on those I've been accepted to. UCLA Pros: International Brand Recognition Highly Ranked Great Student Life In the good part of LA Can intern in LA in the summers Decent Economics Program Decent but very large Alumni Network Diverse Student Body Decent Alumni Network between undergrad and Anderson If

21 Apr 2021

Anyone have any idea what the timeline is for Citi 2021 FT Analyst? Are there Superdays are coming up for some divisions?

07 Feb 2021

I did an internship last summer and really liked everyone in my group, but it was not my top choice and I've since decided that I'd rather be in a different city. I did get a full-time offer and accepted it because hiring was looking pretty bleak in August and I had an exploding offer. I see a lot of lateral spots popping up and am curious if any banks are hiring additional associates FT. Should I try to make the move now? If not, how long do I need to stay at my bank before lateraling? I appreciate your help.

24 Mar 2021

Applications for full-time analyst positions at the following firms are now open unless otherwise stated. Get after it, monkeys! See you on the Street ;) Front-office IBD, S&T and/or Research Deutsche Bank Evercore (superday scheduled for 8/8) Lazard Lazard Middle Market Wells Fargo (Application was available 7/23. Appears to have been temporarily delisted) Perella Weinberg Partners (Applications under review as of August 5) Lincoln International (Application always available. Deadline unknown) Goldman Sachs (Applications closed 7/27) Royal Bank of Scotland (RBS) (Application available 8/15-10

05 Sep 2014

Hi guys. Answering your questions on career path to start with; also giving some initial generalities about what undergrad schools I'm seeing. The full cut of undergrad/b-school and exit opps data is on the way. Reminder: this is longitudinal career data from a sample set of several hundred bankers in bulge bracket IBD at all levels. First, just eyeballing it, here are the surprises in terms of undergrad schools: Yale and Princeton each place more analysts than Harvard. And where the fuck is Stanford? I see almost no Stanford undergrads. Maybe they don't know that IBD exists... or maybe bulge

28 Aug 2012

I just wanted to reply to a few of the comments on my first post... http://www.wallstreetoasis.com/forums/life-after-… 1. I don't know what else I could do The picture on this post is an entry I wrote in my journal one hour after walking of the door of the bank.

26 Apr 2012

Hi all Gained a lot of useful knowledge here back in the day. Have just started a PE gig after 3 yrs in BB IBD in London. More details on me below.

30 Nov 2013

Hi all, I've enjoyed reading the posts on WSO and have personally been helped by numerous forummers, including one that went the bat for me and wrote a lengthy email to his HR because I was dinged the first round of my on campus interview. He never even met me and helped me unconditionally, it touched me deeply and here I am, doing my best to give back. I'm an international student in a US college, going to graduate in May this year. Did internships in PWM (freshman summer), boutique IB (sophomore fall), boutique PE (sophomore summer), MM IB (junior summer). I have an offer with a product group at a BB and am due to start in Fall.

28 Feb 2011

Anyone know much about Lincoln International (NYC or Chicago)? Asking for a friend looking at a lateral opportunity. What does the comp progression look like from associate to director level? WSO Database numbers look a little off relative to street. Any other perks / benefits? What is culture like? I've heard great things about it but if anyone can provide more color that would great What are their best groups and what type of mandates are they known for? TMT seems to be brought up on prior threads Looks like they have been trying to build out a restructuring practice - anyone know a what

28 Mar 2021

Wanted to know if anyone had any insight into their reputation on Bay St. I've heard their M&A, Real Estate and Credit Capital Markets (not sure if LevFin or vanilla corp banking) are solid groups. Any info on comp and FT rotational program would also be greatly appreciated.

21 Jan 2021

Where do i even start..I learned so much from this forum. The brutally honest opinions, sincere willingness to help, the technical information and random tips on everything has been absolutely crucial for me landing this offer. Coming from a non-target I didnt get that 3rd year SA position at a BB. Matter of fact, I spent my 3rd year summer working at my school. It's hard getting an SA position anywhere so congrats to the people that got it! After my 3rd year I took a year off to get some real work experience b/c I know how hard it is to find a job without any work experience in this economy

12 Jun 2013

Hey guys. There is a lot of useful advice on this site, so I figured I would reach out to you guys with what has been on my mind lately. I feel like I am falling into a pit of depression. As background, I accepted a bb IBD offer after summering at the same bb about a month ago. So here goes the story: 1) My roommates are way more successful than I am: I live with 2 guys, both my best friends since the start of college. One is going to a top IBD group (GS TMT/MS m&a) and the other is going to MBB. Now, I didn't have any interest in consulting nor did I interview with the IBD group roommate 1 is

10 Sep 2013

I have an offer from a BB in Frankfurt and a top MM in London (think Baird, WB, non-RX HL) for an internship, which I plan to convert to a FT role. I go to a target and have previous EB internship experience. I really want to live in London long-term, but the MM internship is the only thing I've gotten in London. BBs/EBs in general are the better fit for me personally, but I'd be willing to suck it up and stay for a year, before lateraling to BB/EB. My question is how much I'd actually limit myself in terms of exit opps? Is MF still a viable path after lateraling? How difficult would it be to

29 Apr 2021

Updated 2/7/2012: All BB offers are out so which bank will u join next summer? ill keep the posted updated. GS: MS: JPM: Papagogo, DB: rossgs210, CS: Citi: UBS: BAML: BarCap: algorhythm,

10 Nov 2011

If it's between HSBC in HK and Barclays in London for IBD SA which would you choose and why? Also considering long term (4-5 years) and exit opportunity back to Asia. Any insight appreciated!

15 Feb 2021

This is my most recent blog post on my site, ThoughtsOnFinancedotcom, "The Working in Finance Series, Part 1: So you want to be an investment banker?". I've been on the sell-side and buy-side for a decade now and am reflecting on my time moving up the ladder. It's the full truth of how I spent my time in college at a non-target to get the job, and what the job actually ended up being. I'm thinking of writing a few other posts in the series walking through my time in IB and PE. Think it might be helpful to dispel certain myths we've been told, that I think most people realize after years and

12 Dec 2020

Hey WSO, I'm 22 and male and will be interning at a BB in NY this summer. Yesterday, I was diagnosed with Hashimoto's Thyroiditis by an endocrinologist. Basically, having Hashimoto's means that my thyroid glands will slowly degrade to the point of failure. No known cause and i'll have it the rest of my life. Your thyroids are necessary for basically everything in your body, and so Hashimoto's creates the effect of being chronically fatigued and perpetually "burnt out" basically for the rest of your life if left untreated. Hashimoto's has made me feel like shit for the last 6 months. I used to

19 Apr 2014

I am an IBD associate at a low-tier BB. While I failed to land an offer of corporate PE, I may have an opportunity to join a REPE with a good brand name and solid deal flows. This REPE not only does asset-level investments but also is very proactive in corporate-level deals. These deals, though still RE-related, are like what corporate PE does (focusing on EBITDA rather than the assets). Is it possible to leverage these corporate-level deal experiences to join a corporate PE in the future? If the answer is "possible and very very difficult", how can I increase the possibilities? Any advice is

06 Apr 2021

Was looking at SalesForce income statement, couldn't find the interest expense line item. was able to find the interest expense value under notes, but under which line item is the interest expense hidden here.

05 Apr 2021

One common criticism I hear on the street is UBS, the U've Been Sacked bank, or Ultra Bullshit Shit bank has a poor reputation. Either through routinely failing institutional clients by wiring money incorrectly to a counter-party while they're in the middle of a lawsuit. Or finding their contracts don't mean very much when the words 'capped-fees' is just there to charm, it's misnomer in Swiss-German that means it's uncapped; a kind of screw you get out clause.. But the bank is also known for the billions they've put into R&D in dark pools, brokerage, the sheer numbers of starts-up in their rather activist, but also interesting, long-term investment strategy.

08 Nov 2012

List, closed, thank you all =) Within 48 hours, we had 130+ applicants and 5 mentors. --Using this thread for a "What do you want to learn/What would help you?" thread. We're going to invite recruiters, MDs, VPs, to speak to mentees, do resume reviews, share contacts, etc. Very excited for this class. -- Why: This year WSO helped me out. (http://www.wallstreetoasis.com/forums/the-same-st…) I want to return the favor. Summary: This is a long-term mentorship/investment for the duration of 6 months. MENTORS 1. James (wolfy) 2. Jon 3. Andrew WSO MENTORS 4. monty09 5. anyonewantsjob

22 Nov 2010

anyone know about them? they look really legit - they do several billion dollar M&A deals a year, the partner was head of IBD at UBS, but Ive never heard of them on this forum

31 Aug 2009

I am currently a target school freshman looking into breaking into NYC or HK IBD. I am currently stuck between an offer with Big 4 or doing IBD works with a Chinese BB. Which one should I pick with the goal of breaking into NYC/HK IBD? I know Big 4 would have far better name recognition than some random Chinese securities firm for NYC recruiter. Would I rather shoot for relevant experience in a less well-known brand or a less relevant experience with Big 4 brand?

13 Apr 2021

I am curious how or if you expect banking to change post-COVID. Do you see more flexibility in terms of WFH policies? or maybe allow bankers to work from home over the weekend? What are your thoughts?

09 Sep 2020

Why is that so many people have told me I should go into technology rather than finance? I'm completing a computer related major at a target school and have been intending to go for investment banking. If I can get a bulge bracket investment banking job, how is that not better than a tech job (even at a place like google) job where I would be making max 60% of what I make investment banking, and where the salary starts to level off around $0.25m/year (unless you go into management) whereas investment banking salaries can run into the seven figures per year. The only argument I see against

17 Jul 2015

Hey everyone, I am currently a rising senior at a semi-target thinking about post-grad jobs and working in finance. This might be a long post but I'm hoping to get advice on what I should do and if I have a chance at getting a FT IB role for 2022 or if I should think about other job options/careers in finance. The situation Like I mentioned earlier, I am a rising senior at a semi-target (Top 10 University) and I want to work in finance after graduation. I was Pre-med for a year before I realized that I hated it and then I switched to Political Science and Philosophy, I took an intro to

06 Jun 2021

Andy note: Best of WSO - this post originally went up December 2009 and we thought it deserved to go back on the homepage for those who may have never seen it. After reading and commenting on this board it is very clear that everyone has goals/dreams and an idea of how to obtain them. Another common theme is how neurotic people are in landing that dream job at Blackstone, GS, etc. Yes there are clear paths to those positions and I myself wondered how I will get to the point in my career in which I have truly crossed all of the T's and dotted all of the I's.

20 Sep 2012

Moderator Note (Andy) this was originally posted by bankerella on 9/5/12 All right, folks, got some hard stats here. Read 'em and weep, or rejoice (you know who you are). Reminder: this is longitudinal career data from a sample set of several hundred bankers in bulge bracket IBD at all levels. Make sure to see my previous posts in this series: 1. introductory post and 2. schools and promotion rates. Also, I should say that I got no dog in this fight and couldn't care less where the talent comes from. Just trying to get some hard data out there so that, in the future, people can use it as an

22 Oct 2012

How are the hours for a post M7 MBA associate in comparison with analysts. Also how hard is it to get into IBD, post MBA, with a consulting background?

13 Apr 2014

Hi, I am expected to start my my SA internship at a BB in Sales & Trading, but they (same BB) have recently opened a role for Investment Banking in Fall - Off Cycle. If I send in my application and apply for the role at IBD, will the HR flag my application and know that I may not be interested/fully committed to S&T? And therefore won't give me the FT offer? Anyone able to share their insights?

18 May 2021

I've got a sell day coming up for WF and want to get some more info on groups within IBD. Looking for info on M&A in particular, but any group will be fine (dealflow, comp, exit ops...etc)

11 Jan 2010

Hi guys, "long" time lurker here. I was wondering if anyone could drop some insight on top IBD groups at Barclays, London office in particular. I was given an opportunity to name my top 3 preferences for the SA internship. I talked to several analysts last week, so I have some information. PE and possibly HFs are my preferable "exits". Hours are not a factor. I think that Barclays culture is pretty nice in general. Currently, I am looking at these three: i) M&A ii) Leveraged Finance iii) PUI (Power, Utilities, Infrastructure)

13 Apr 2014

A previous discussion on similar topic is here: http://www.wallstreetoasis.com/forums/ifc-exit-opps Specifically, assuming the track of IFC -> MBA -> private sector PE (think KKR/TPG/Carlyle), how would the IFC investment analyst experience be rated by the recruiter at private sector megafund? How competitive would a IFC Investment Analyst graduate be compared to other BB IBD analyst graduate when applying for mega PE funds? Some discussion in previous posts in this community brought up a few points: 1. IFC is not just doing equity investment; a lot of what they do is loan/structured finance 2. IFC has incredibly good hours compared to BB IBD/mega PE funds (not sure how true this is at the junior level, but just let's assume it to be the case)

13 Jul 2013

Hey folks, By way of introduction, I am now a 4th year analyst (yes, 4th!) in the investment bank which is generally considered by WSO community as an elite boutique (see the likes of Lazard, Evercore, Houlihan Lokey, Rothschild, PJT). At the very beginning of 2020, it indeed seemed that the year may become a disaster for the industry, however at the end the financial performance of most of the investment banks (and even more so elite boutiques) proved to be very competitive YoY. My bank is not an exception – our 2020 results are pretty much on par with what was achieved in previous years. As

28 Apr 2021

Currently in an allocator role with a large corporate pension ($30B+). Attended non-target (SEC - it just means more) undergrad with 3.2 gpa, and I have CFA. I do have corporate finance experience with a small company, but seems like I really have no shot at IB gig without getting a top 20 MBA. GRE Score: Writing 5/Verbal 165/Quant 162

28 Aug 2020

I'm currently an analyst at an industry focused boutique located in the NY area(throwaway account to protect identity). At the risk of being screamed at for having no prestige, I'd like to answer people's questions on life at a leading boutique covering a specific industry. There is a ton of info on this site regarding BBs but not a lot covering boutiques. I know when I was researching the industry I had questions about life at boutiques so I figured I'd give back a little and answer anyone's questions!

01 Sep 2015

Hi all! I was wondering if it's OK to use a guild/raid leader at a letter of reference when applying to IBD at top banks. My reasoning is that if you're in an elite WW top 5 guild you should be able to use the prestige and uberness of your items to get access into a top 5 WW IB or PE firm, like Rutgers. Furthermore, we all know raiding and killing very hard dragons and skeletons are hard work just like IBD I think the letter would be perfect! When raiding(just like working except no lunch/restroom breaks you use a 2 liter bottle) for 80+ hours a week you have to have insane, assasine and ungodly amount of drive and work ethic, something BB require! Also, you have to deal with bad coworkers who make your guild/firm bad and are first to go when a recession/patch hit.

17 Jan 2013

Below is the first installment of an interview with WSO Certified User and 2nd year banking analyst 'duffmt6'. Interview conducted by Asatar. SEE PART 2 1) What is your background and how did you get into investment banking? I graduated from a top 25-30ish school in 2010 in a quantitative business major (the quantitative portion hurt my GPA a bit - I finished with a 3.65). I had literally no career focus throughout my college career. I was focused on school work, partying and rugby, and not in that order. I lucked into a back office finance internship in my junior year with a well known fin

06 Feb 2013

I interned this summer in investment banking and got completely crushed. My hours ranged between 85-105 each week, but were usually around 95ish. I started to get really burned out. Its been over a month and I am still very stressed from this past summer and considering going back. It was not uncommon to be in the office until 4-5am then back at 8:30am multiple days in a row and then back to the regular 8:30am to 1:30am schedule for just a few days before getting crushed again. I only had 3 days off the whole summer (one full weekend and forth of July). Emotionally I started to being unhappy

12 Sep 2015