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Reply 2040

Anyone else got an interview with Citi on Friday for markets?

congrats and good luck

how come Markets started interviews so early and before IBD? When did you apply/finish numerical test?

Reply 2041

spyrogyra

Do Morgan Stanley automatically reject you after the tests if you fail? Or do they wait a while?

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Reply 2042

Deltasierra27

Original post by alexjones1994

wtf. Citi haven't even sent me my tests yet... Been 3 working days lol.

It took me about 4 or 5 days to get my tests so I wouldn't worry if I was u

Reply 2043

Deltasierra27

Original post by torres657

congrats and good luck

how come Markets started interviews so early and before IBD? When did you apply/finish numerical test?

Thanks!

& Im not sure - I did my tests on the 9th but I know they pre screen anyway so that's probably why they got back so soon.

Reply 2044

TheParham

Does anyone know if you only get numerical if you passed the verbal at RBC? felt like I ****ed the verbal haha

Reply 2045

username738914

Original post by CaptainKirk12

Hey guys,

How do the bulge-bracket banks like Citi, Deutsche Bank, Barclays and UBS stack up against the boutiques like Greenhill, Centerview, Evercore and Moelis in the UK? In terms of deal flows, reputation, pay and exit opps? Apparently in the US, the smartest kids go to these boutiques instead of the BBs (except for GS, MS) and they would make that decision without thinking twice! Would love everyone's and especially @Princepieman's opinion on this.

Thanks a lot!

I would say the boutiques are marginally better than those BBs in terms of rep.. There was a perception maybe a couple of years ago that, in London, the BBs had a stronger name than the EBs you mentioned and that buyside recruiters used to be unaware of the talent at those firms.

However, now that the EBs have been around in the UK for a sizeable period of time, there's enough data now to suggest that exit opps are picking up and that these firms are gaining traction to the same level of perception they have in the US here - especially at the more american buyside firms who have are a tad more privvy to the reputation of EBs.

Pay without a doubt is better at EBs. For colour, Centerview paid ~$180-200k all-in to first years in New York, Evercore was a tad below - so if we assume comp practices are consistent across NY and London, these two firms (amongst others) will be paying significantly above street. Add into the calculus the higher cash payouts at the associate and above level vis-a-vis the stock/deferred comp mix at BBs.

Deal flow is pretty good given the size of these firms in the UK (v. small, intakes of 10-20), their placement on m&a league tables is commendable. Some firms however do focus a bit more on MM deals (e.g. Evercore) than the bigger ticket deals.

Ultimately, I would say it boils down to personal preference and how you felt about the culture of the firms whilst interviewing/networking.. Any of these places would give you at least a decent shot at the buyside.

N.B. I've been told by some bankers that if you want a long term career in banking, starting off at an elite boutique is fine, but by the time you reach associate or VP level, it would make more sense to switch to a larger bank to have a greater chance at building a client base.

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Reply 2046

username1571649

Are RBC open for summers?

Ignore that actually

Reply 2047

Deltasierra27

Original post by Princepieman

Pay without a doubt is better at EBs. For colour, Centerview paid ~$180-200k all-in to first years in New York, Evercore was a tad below - so if we assume comp practices are consistent across NY and London, these two firms (amongst others) will be paying significantly above street. Add into the calculus the higher cash payouts at the associate and above level vis-a-vis the stock/deferred comp mix at BBs.
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£136k - £150k for first years - really? Where did you get that from? I can't see anything like those figures on Glassdoor at all. Analysts are around £50k.

Reply 2048

username738914

Original post by Deltasierra27

£136k - £150k for first years - really? Where did you get that from? I can't see anything like those figures on Glassdoor at all. Analysts are around £50k.

Current analysts. If you're skeptical, check out WSO's comp database it's pretty accurate.

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Reply 2049

torres657

Original post by TheParham

Does anyone know if you only get numerical if you passed the verbal at RBC? felt like I ****ed the verbal haha

you should receive numerical very soon, if not yeah then you are probably fked

Reply 2050

username738914

Original post by Deltasierra27

£136k - £150k for first years - really? Where did you get that from? I can't see anything like those figures on Glassdoor at all. Analysts are around £50k.

Plus, converting it to pounds doesn't really work. Bonus is essentially 90-100%+ of whatever base they pay here in first year. In the later years it can be as high as 100-200%.

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Reply 2051

creamertnh

Anyone else who did the Barclays initial SJT/Numerical test thing over the weekend heard back yet, I still haven't. I dont think I am a egoistical ******* who sucks at maths, but who knows.

Reply 2052

Deltasierra27

Original post by Princepieman

Nonetheless, even according to WSO's database the base is 85k which is fair enough. I was just doubting that base would be $150 - $200k

Reply 2053

creamertnh

Original post by Deltasierra27

Nonetheless, even according to WSO's database the base is 85k which is fair enough. I was just doubting that base would be $150 - $200k

I have heard on WSO that they pay a large converting bonus $50k but I dont know if that is true or not

Reply 2054

BrexitBojo

Original post by TheParham

Does anyone know if you only get numerical if you passed the verbal at RBC? felt like I ****ed the verbal haha

Mate that verbal was awful. Cannot say's galore. I'm not sure, I was wondering that aswell. Anyway, I completed them both and got email 3/4 days later saying i was 'under consideration' for a telephone interview and I thought the verbal went **** so dw. Also the numerical is piss. Easiest one i've ever done.