<p>i'm assuming u have to work/live in new york in investment banking and stock broking? can anyone verify this?</p>
<p>Have you tried going to the website of a couple of ibanks (goldman sachs, morgan stanley, lehman brothers, merrill lynch, etc) to see if they have any other offices that have IB departments?</p>
<p>No, you do not have to work/live in NY. It is generally better, but there are IB offices in many other places.</p>
<p>To the OP,</p>
<p>A BB firm's major headquarters tend to be in NYC, London, and Tokyo.</p>
<p>Many have regional offices in particular areas that focus on a particular area which is reflected in their deal flow.</p>
<p>For example, Houston offices may see a lot of deal flow for a firm's Natural Resources Group, or an office on the West Coast may focus largely on technology deals.</p>
<p>It is generally considered better to start your career of at a major HQ as you tend to gain greater exposure to more deals.</p>
<p>Yeah, I also think NYC is the ideal place for an intern/entry level employee.</p>