Comments on: Investment Banking in London: Equally Attractive Alternative to New York?

By: M&I - Brian

M&I - Brian — Wed, 08 Mar 2023 17:54:09 +0000

In reply to S. I don't think London offers any advantages other than the later start date to the recruiting process. Also, if you don't know European languages, you will be at a disadvantage. So I don't think this is a great idea unless you are very far behind on recruiting and really need this extra time.

By: S

Sun, 05 Mar 2023 02:37:16 +0000

Hey Brian,
Thanks for the great article. I am a current student at USC and am actively recruiting banks in LA/SF for my junior summer internship in 2024. However, I was thinking of recruiting London instead for summer 2024 but am not sure what the disadvantages are, considering that I am in a school in LA and hold a non UK/EU and non US passport. I understand that recruiting begins in September for my junior summer for London and that will give me more time to prep but would love to hear your opinion on the situation.
Thanks!

By: M&I - Brian

M&I - Brian — Thu, 15 Dec 2022 03:34:42 +0000

In reply to Pakala papito. It is a target school, but at the Master’s and MBA levels. The list here was for undergraduate target schools in Europe, which is a bit confusing because a lot more candidates in Europe end up doing Master’s degrees... so there is some overlap in the lists, but also some differences due to schools that do not have an undergrad program or do not have one of the post-graduate programs.

By: Pakala papito

Pakala papito — Fri, 09 Dec 2022 00:43:49 +0000

I note that London Business School has not been mentioned as one of the target schools for IB, despite being in London for many years. Do IBs not target Masters in Finance candidates from LBS for Analyst positions?

By: M&I - Brian

M&I - Brian — Wed, 09 Nov 2022 18:20:48 +0000

In reply to C. Thanks for adding that. Yes, London experience definitely carries more weight than other cities. I don't really think the pay is disappointing since it's still better than other European cities; it's only disappointing relative to U.S. pay (and Hong Kong if you can actually work there).

By: C

Sat, 05 Nov 2022 02:15:11 +0000

Re exit opps, something I’ve seen with European finance recruiters is an irrational reverence for “London experience”. I tried moving from a front office job with a local firm in Dublin but wasn’t having difficulty getting interviews and offers were below expectations. Instead, I went to a small boutique in London for 12 months and when I decided to come home I found I was interviewed for *every* job I applied to and offers were ~50% higher than before.one agency recruiter told me “London experience is just viewed as in a different league than local experience.” That was earlier this year.

So while the pay might be disappointing, the prestige is apparently still very much there.

By: M&I - Brian

M&I - Brian — Wed, 02 Nov 2022 22:59:25 +0000

In reply to Len. Thanks. Yes, the advantages and disadvantages are about the same. It's not the end of the world if you earn ~30% less for a year or two early in your career, and experience in other cities usually only helps once you move back to NY. The main advantage of the Associate role in London is that it's a bit easier to recruit for PE and other buy-side roles because firms and headhunters don't impose hard limits on who can apply to the roles in quite the same way as in the U.S. So if you want to leave for something like that eventually, it may be easier in London.

By: Len

Len — Wed, 02 Nov 2022 21:15:06 +0000

Hi Brian,

Thanks for the article. I am going to be joining a bulge bracket bank in NY as an associate after I graduate next year. I spoke with some people there this summer who took advantage of a program to spend a year or two in London. I was wondering if you thought that the same benefits and downsides you outlined in the article apply to doing a program like that, or if there are other considerations one should keep in mind. Would it help/hurt/be neutral for one’s career?

Thank you.