Hi,
I have SA offers at both BAML and Deutsche. The groups I'm interested in are strong at both: LevFin, Sponsors, FIG, and Real Estate. BAML also has better M&A and I've formed a strong relationship with an MD and a couple of analysts. Deutsche has a rotational program and more flexibility among its groups. So which to pick and why?
Thanks!
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I personally am worried about
I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.
I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.
"There are three ways to make a living in this business: be first, be smarter, or cheat."
honestly, I'd go with the
honestly, I'd go with the people. If you have a strong relationship with the BAML MD/analysts in M&A and you really want to do M&A, then that's probably the way to go...
all else being equal, BAML has a cooler building ;)
"It behooves every man to remember that the work of a critic is of altogether secondary importance, and that, in the end, progress is accomplished by the man who does things." - Uncle Teddy.
BAML may have a cooler
BAML may have a cooler building but damn their "clean tech" lights in there are very, very annoying. It flickers on and off every 2 minutes!
Thanks for the responses. I
Thanks for the responses. I should clarify that my relationship with MDs at BAML is not within M&A but rather around the bank. And by the way, hasn't BAML already met capital requirements while Deutsche has not?
Td50, your such a tool.
Td50, your such a tool. Nobody gives a shit about which bank you're gonna work at. There are so many offer threads on this website that should suffice to help you make your decision. Stop wasting our time and get a life. Investment banking isn't worth it anyway. Those people caused the financial crisis.
--all da way turned up
--BLC 4 lyfe.
DB typically pays more
DB typically pays more
Bonobo777 wrote: Td50, your
Td50, your such a tool. Nobody gives a shit about which bank you're gonna work at. There are so many offer threads on this website that should suffice to help you make your decision. Stop wasting our time and get a life. Investment banking isn't worth it anyway. Those people caused the financial crisis.
--all da way turned up
--BLC 4 lyfe.
cool bro. thanks for stopping by.
"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie
They're pretty much the same
They're pretty much the same reputation and exit opps-wise. Numerous threads on both all over WSO. Just use the search function.
BAML M&A stronger or Citi M&A
BAML M&A stronger or Citi M&A stronger
Sandhurst wrote: I personally
I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.
I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.
But you think the other banks can survive a BofA default? BofA going down would be worse than Greece going down.
"One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger
BAML is not going anywhere.
BAML is not going anywhere.
mikebrady wrote: DB typically
DB typically pays more
Not for summer analyst positions
"In summary, people are morons and who cares. Make a shit ton of money. I've never seen a Ferrari paid for by what people think." - ANT
Sandhurst wrote: I personally
I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.
I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.
This was retarded... you think that a bank with "America" in the name and a balance sheet the size of theirs would be allowed to fail? We would have a lot bigger problems on our hands than choosing Summer Analyst offers if that were the case.
Both banks are solid banks and you'll get good experience at both. Go to the place where you have the best relationships and like the people the best, or if there is a greater opportunity for placement into a group you like.
"In summary, people are morons and who cares. Make a shit ton of money. I've never seen a Ferrari paid for by what people think." - ANT
rufiolove wrote: Sandhurst
I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.
I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.
This was retarded... you think that a bank with "America" in the name and a balance sheet the size of theirs would be allowed to fail? We would have a lot bigger problems on our hands than choosing Summer Analyst offers if that were the case.
Both banks are solid banks and you'll get good experience at both. Go to the place where you have the best relationships and like the people the best, or if there is a greater opportunity for placement into a group you like.
I'm not saying that BofA would be allowed to fail. But if it were at serious risk of failure and there had to be a bailout, you can bet that congress would eviscerate BAML. I also did not say that I thought that BofA would fail.. I said that I didn't have a high level of confidence that it would survive a disorderly Greek default. It's no secret that BofA is less healthy than Wells Fargo and JPM. It's sitting on a debt overhang (zombie bank), and is less able to do things like issue short term debt if necessary.
"There are three ways to make a living in this business: be first, be smarter, or cheat."
To anyone who thinks DB is in
To anyone who thinks DB is in that much better shape than BAML....it's not.
Optimus, would you mind
Optimus, would you mind offering more?
BAML is like a lesser JPM. DB
BAML is like a lesser JPM. DB is like a way lesser GS/MS but with an accent. So the question is, which do you prefer? Also td50, don't listen to Bonobo777- he's probably doing TFA or some shit because he couldn't get an offer from a bank
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Sandhurst wrote: rufiolove
I personally am worried about the stability of BAML's platform with BofA. If Greece goes, I am not especially confident that BofA will survive the aggregate shock to the global financial system, given their capital problems. So in that sense, Deutsche, which is far better capitalized, is a "safer" bet. But, this is for SA, and you go BAML and then lets say that BofA hits a rough patch and freezes hiring, BAML M&A would be a very strong resume line, and could go a long way towards getting an FT offer elsewhere.
I'm a little biased towards Deutsche, but there are arguments to be made both ways. So I'd say go with the one whose people you enjoyed the most.
This was retarded... you think that a bank with "America" in the name and a balance sheet the size of theirs would be allowed to fail? We would have a lot bigger problems on our hands than choosing Summer Analyst offers if that were the case.
Both banks are solid banks and you'll get good experience at both. Go to the place where you have the best relationships and like the people the best, or if there is a greater opportunity for placement into a group you like.
I'm not saying that BofA would be allowed to fail. But if it were at serious risk of failure and there had to be a bailout, you can bet that congress would eviscerate BAML. I also did not say that I thought that BofA would fail.. I said that I didn't have a high level of confidence that it would survive a disorderly Greek default. It's no secret that BofA is less healthy than Wells Fargo and JPM. It's sitting on a debt overhang (zombie bank), and is less able to do things like issue short term debt if necessary.
And why exactly are you so confident that congress would "eviscerate" any firm who had exposure to Greece? Obviously there is no precedent to support this. In fact, past events reflect just the opposite. Best to let the people who are actually in the industry and dealing with these things on a day to day basis give advice on these types of things. The point I'm trying to make here is that your thesis on potential default of Greece impacting banks is completely irrelevant to someone looking for a 10 week internship. Offer rates are roughly the same at both firms, the correct advice you should be giving as others have said is to go with the firm with the people you feel most comfortable with not because of some bullshit fear that something OUTSIDE your control may impact another event that would throw the entire economy into a tailspin. There's a saying in medicine that applies here "when you hear hoof beats behind you, think horses, not zebras."
OP take the offer with the group you like the best or because you genuinely like the firm.
"In summary, people are morons and who cares. Make a shit ton of money. I've never seen a Ferrari paid for by what people think." - ANT