This discussion is now closed.

Check out other Related discussions

Less competitive banks

7

I've been applying for technology roles mainly at BB banks, and unfortunately rejections are starting to come in.

I'm going to start applying to non-BB banks. Which banks are non-BB and will be less competitive?

Are the banks that are less-competitive also going to pay significantly less?

Thanks

Reply 1

ibwannabe

A.G. Edwards
ABN Amro
Alliance Bernstein
Allianz
Ambrian
Babcock & Brown
Bank of America
Bank of Nova Scotia
Barclays
Bear Stearns
BMO
BNP Paribas
Boenning & Scattergood
Brown Brothers Harriman
Brown, Shipley & Co.
C.E. Unterberg
Calyon
Canaccord Adams
Cantor Fitzgerald
Carnegie, Wylie & Co
Cazenove
CIBC
Citigroup
Close Brothers Group
Cowen Group, Inc.
Credit Suisse
D.A. Davidson & Co.
Deka Bank
Deutsche Bank
Dillon, Read & Company
Dresdner Kleinwort
Dresner Partners
Drexel Burnham Lambert
Evercore Partners
Financo Inc.
Fortis Bank
Fox-Pitt, Kelton
Friedman Billings Ramsey
Genuity Capital Markets
Goldman Sachs
Grace Matthews
Greenhill & Company
Greif & Co.
Grupo Santander
Hambrecht & Quist
Hambros Bank
Harris Williams & Company
Hilco Corporate Finance, LLC
Houlihan Lokey & Zukin
HSBC
Imperial Capital, LLC
ING Group
Investec
Investment Technology Group
J. & W. Seligman & Co
Janney Montgomery Scott
Jefferies & Co.
Jordan, Knauff & Co.
JP Morgan
Kaupthing Bank
KBC Bank
Keefe, Bru & Woods
KeyCorp
Kleinwort Benson
Kuhn, Loeb & Co.
Ladenburg Thalmann
Lazard
Lazard Capital Markets
Legg Mason
Lehman Brothers
Macquarie Bank
Merrill Lynch
Miller Buckfire
Mizuho Financial Group
Monte Paschi di Siena
Montgomery & Co.
Montgomery Securities
Morgan Grenfell
Morgan Stanley
Natixis
Needham & Company
Neuberger Berman, LLC
Newbury Piret
Newsouth Capital Inc.
NIBC
Noble Bank
Nomura
Nomura Securities Co, Ltd
Oppenheimer
Park Lane Investment Banking
Perella Weinberg Partners
Pete J. Solomon Company
Petrie Parkman & Co.
Piper Jaffray
Prudential Securities
Putnam Lovell
Rabobank
Raymond James
Robert Fleming & Co.
Robert W.Baird & Co
Robertson, Stephens
Royal Bank of Canada
Royal Bank of Scotland
Rutberg & Co.
Ryan Beck & Co.
Salman Partners Inc.
Salomon Brothers
Sandler O'Neill
Saxo Bank
Schroders
Smith Barney
Societe Generale
Stephens Inc.
Stifel Nicolaus
SVB Alliant
T. Rowe Price
ThinkEquity Partners, LLC
Thomas Weisel Partners
Toronto-Dominion Bank
Transparent Value
TSG Partners, LLC
UBS
Unicredit
Wachovia
Wasserstein Perella
Wells Fargo
William Blair & Company
WR Hambrecht+ Co.

Or alternativly check them out on my student website i made: www.ibankingcareers.com

Reply 2

DoubleThePrice

OP

7

Are salaries going to differ significantly between the BB and non-BB banks?

Reply 3

AR1

DoubleThePrice

Are salaries going to differ significantly between the BB and non-BB banks?

Salaries don't differ much, bonuses do. But yes, by a huge amount!

Reply 4

mcic

A lot of the banks listed on that site either don't have graduate programs, or don't have positions in the UK (or even Europe - a lot are purely US based [and not necessarily New York]).

Reply 5

ibwannabe

Alot of them have at least one office in the UK (82% to be infact).

While you are correct that not all of them have official graduate schemes i think you need to look more.

There seems to be alot of ignorance among students (myself included). Many students only see the top 20 investment banks as the only firms to apply to you. There are countless other investment banks which pay the same competitive salaries. They are just on a smaller scale OR as most likely is the case, they concentrate in Iinvestment banking.

Also, many students who are not in the top 5-10 unis often feel like they cant get into the investment banking world (unless through ops) due to the limited companies they believe they can apply to (top 20 are extremely competitive). Now they can see that there is much more oppertunity out there.

Reply 6

mcic

ibwannabe

Alot of them have at least one office in the UK (82% to be infact).

While you are correct that not all of them have official graduate schemes i think you need to look more.

I realise that it's a lot easier to get a place in a non top-20 bank, but when they don't have graduate schemes then you can only either apply with a speculative application or apply to a specific advertisement (which generally won't be much good, since most of us are still in university). It's still a good idea to apply to these other banks, but it's probably also a good idea to really prioritise the top-20 banks.

Reply 7

DoubleThePrice

OP

7

ibwannabe

Also, many students who are not in the top 5-10 unis often feel like they cant get into the investment banking world (unless through ops) due to the limited companies they believe they can apply to (top 20 are extremely competitive). Now they can see that there is much more oppertunity out there.

For IB (not technology), which banks would you recommend applying to that have graduate schemes and are a lot easier to get into?

Reply 8

turbodave

4

Try Kaupthing. They do a good rotational programme over 18 months covering IBD, asset management, trading..... basically 18 months of front office rotations before you specialise.

Reply 9

Away from TSR

1

thanks for the names, mate!

Reply 10

DoubleThePrice

OP

7

Ok I'l try Kaupthing, any others worth checking out? (that have UK grad schemes)

Reply 11

szeles

4

Lol Drexel is still running? Seems like it takes more than one Milken to put it down...except it went bancrupt once before

Reply 12

rboogie

7

Look, it is better to go to a small only if it a big player in what it does - there is no point in going to a mediocre bank that is not as good - your experience won't be as good, and ultimately, the money won't be as good. So, if you're looking for a small bank, I would suggest Greenhill for advisory/M&A Roths and Nomura for general, and Redburn or Exane for equities. These are smaller banks who punch their weight and might be slightly less competitive b/c they're not household name yets. They have yet to move out of the chasm, so it's a good time to jump in while they're on the way up.

Reply 13

love2learn

4

Although in fairness, Rothschild has been around for years without moving out of the 'chasm' so probably can be expected to stay there. It and Greenhill are generally very well respected though.

Reply 14

rboogie

7

Roths by graduate admission standards alongside Greenhill are less competitive in absolute terms, but there is certainly more nepotism in hiring.

Reply 15

turbodave

4

Nah, Greenhill's as hard to get into as any buldge bracket bank. They take on so few people, pay so well and have strong brand recognition amongst Oxbridge students.

Reply 16

rboogie

7

that's the same with roths - doesn't make it more competitive.

Reply 17

love2learn

4

It's not so much competitive but more closed off.

It's a case of having gone to the right school and university.

Reply 18

rboogie

7

well, considering most IBers these days are at top schools, it's sort of irrelevant. if you go to Oxford, you have a better chance of getting a job at Roths compared to GS any day of the week - b/c of nepotism and b/c Roths doesn't nearly have the brand name of GS.

Reply 19

soul272lc

rboogie

Look, it is better to go to a small only if it a big player in what it does - there is no point in going to a mediocre bank that is not as good - your experience won't be as good, and ultimately, the money won't be as good. So, if you're looking for a small bank, I would suggest Greenhill for advisory/M&A Roths and Nomura for general, and Redburn or Exane for equities. These are smaller banks who punch their weight and might be slightly less competitive b/c they're not household name yets. They have yet to move out of the chasm, so it's a good time to jump in while they're on the way up.

How good is Nomura generally? And will it be difficult for an intern there to move to the BBs? :confused:

Less competitive banks

Related discussions

Articles for you