For those at Tier 1 Bulges and Boutiques:

<p>Do you look down on Tier 2 bulge people? I was fortunate to break into a tier 1 bulge but seem to have run into a lot of people who like to make fun of the other banks. Is it customary to denigrate your competitors?</p>

<p>There’s no such thing as a tier 2 bulge. A bulge bracket bank is a bulge bracket. Period. There’s actually a lot of mutual respect among different banks. Everyone’s college buddies and b-school classmates will be spread out among different firms.</p>

<p>Well considering Citi’s latest performance vs. say Goldman’s record profits I would say there is a tier structure right? Maybe it’s not called tier… but it’s the same concept.</p>

<p>Performance and league tables change drastically from year to year and quarter to quarter. MS was “ranked” 7 or 8 in 2008 for M&A, yet was #1 for 2009. Other firms bounced around too. The only firm that’s been consistently near or at the top from year to year is GS, so if there is a “top tier”, only GS deserves to be there. In reality, though, all the BB’s compete for the same deals and you can get a great experience at any of them. It’s far more important to be on a good team with good deal flow. I know lots of people who had bad experiences at Goldman, and ones who had great experiences at Bear Stearns (pre-2008, of course).</p>

<p>you can’t have a tier 1 boutique and a tier 2 bulge…BB better than boutiques, even citi. And yes, people at BBs do make fun of boutiques</p>

<p>elite boutiques like Lazard, greenhill, evercore… are tier 1</p>

<p>Yes, awped doesnt know what he is talking about. 9 out of 10 people will take Greenhill/Evercore/Lazard/Blackstone for banking over most BBs and even places like GS & MS. Given they dont get offers from GS TMT or MS M&A.</p>

<p>You folks haven’t really grown up. Many folks never do. It’s all still about ranking and who is better to you. How pathetic and sad. I realize that was the op question, but still. Mine is bigger than yours? Really??</p>

<p>^ Isn’t that just American culture in general? All that matters is being better than someone else. </p>

<p>Just as Veblen explains in Theory of the Leisure Class.</p>

<p>^It is pathetic. All these weird hierarchies mean nothing to 99.9% of the world’s population. It is amazing how rich americans can invent ways to make themselves miserable-“woe is me, I didn’t get an offer from GS I’m inferior”</p>

<p>@naura that’s a pathetic way to live life. People who have that kind of attitude are quickly weeded out in banking. GS of all places is famous for being ubercollaborative and having a team-oriented culture. If you’re just out to get everyone else, you’ll quickly be shown the door.</p>

<p>Umm… GS pays lip-service to “teamwork” and other corporate BS. But then they go and fire the bottom ranking 10% in all groups, every year, across the firm. Does that sound like a policy that encourages teamwork to you? lol If you are working there you must look out for #1, if you don’t you’ll end up fired for not being better than someone else.</p>

<p>It’s amazing how many people buy into the corporate marketing and HR buzzwords of these companies.</p>

<p>The bottom ranking there is largely determined by a review process that, yes, focuses on teamwork and how you’re perceived by peers. Your value is determined by much more than simply how much revenue you generate, at least on the IBD side. Of course you need to be driven to excel, but your attitude should not just be about screwing everyone else over. If your entire team hates you, you’ll definitely be placed in that bottom 10%.</p>