just out of curiosity: Who comes after GS/MS?

Investment Banking Interview Guide

thatguy123

17y

all you're going to get are wildly different subjective opinions. All the top 10 banks are the same, you do the same shit, they compete for the same deals and they pay the same. They all have their strengths and weaknesses, so pick the one where you like the people and the group. These "rank the bank" questions are annoying.

Bullish

17y

In terms of prestige

Tier 1

GS, MS

Tier 2

Merrill, Lehman, JPM

I would view Merrill, Lehman and JPM in the same tier (joint third).

Citi is not in this tier even though it's top 5 in many league tables, as they are seen more as a "commercialised" i-bank and this dilutes their brand prestige.

ass2007

17y

Tell that thing about Citi to GS.... That is bs. If JPM are Tier 2 then Citi is definitely up there. All the ranking are bs. At the end of the day - you can compare on the base of dealflow - then it would be GS,MS,ML,Leh,JPM,Citi and to some extent UBS - all in for the same deals.

Is Wall Street Dangerous?

Bullish

17y

Ass2007,

The rankings are entirely up to personal opinions.

My rationale for not ranking Citi higher IN TERMS OF BRAND PRESTIGE is because it is commonly viewed by many as a commercial i-bank. Citigroup is seen as Citibank.

I understand that in terms of deal flow, Citigroup is definitely there. But in terms of it being considered prestigious, I would beg to differ.

I reckon you are a Citi employee?

ass2007

17y

Nope...If I were I would probably rank Citi on top:). I know a lot of people there and see no obvious difference between the quality of Citi senior bankers and GS senior bankers. Citi IBD is very well respected. You cannot rank JPM and do not rank Citi if you are thinking commercial. Actually I have heard more people downplay JPM thank Citi because of the commercial side.

Common vs Preferred Stock Startup

buysideanalyst

17y

Best Response

I am in a position to have seen hundreds of IMs from all the big banks. The quality of work at all the BB firms is very similar. In fact I would say there is zero correlation between the bank that did the IM and quality within the BB. There is a correlation between how difficult the deal is to get done and the quality of the work. Those deals that are more challenging fundamentally, usually have a lot more effort put into them. If anything I would say those top two firms that get bandied about live off thier brand name to a certain degree because the quality is sometimes lacking. Now when I say quality I am not referring to simple typos or grammar errors, but with respect to these simple errors, the only deal in the last 10 I have reviewed that had errors (plural) was from a top two firm.

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holymonkey

17y

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