<p>Hello all,
I will be going to school in nyc [nyu stern] next fall, and am really hoping to become an investmant banker. The only thing is, my heart and soul is in LA, and although I know nyc is the mecca of all things business, I was wondering how the iBanking scene in LA compared [in terms of competitiveness for jobs, salary, stress level, etc.]</p>
<p>Good question.</p>
<p>All of the major media deals are often syndicated through the LA office. For example, GS TMT is one of the more coveted groups on the Street. However, few people realize that most tech deals are run out of SF and many of the media deals are run out of LA. This makes sense intuitively just because most of the major production/media/film houses are in Hollywood. Of course, all M&A activity of T/A’s headquartered west of the Mississippi River (or is it the Rockies?) are done in LA offices. UBS LA ran the Univision, Harrah’s, Albertsons, etc deals.</p>
<p>LA has been known to have a more lax culture than New York, but again, this is HIGHLY bank and group dependent. I have heard some banks are easy on hours while others run very tight ships (UBS was known to be a sweatshop with Moelis and Navid at the helm). At the end of the day, banking is banking – it’s not going to be a walk in the park anywhere.</p>
<p>Salary and competition for jobs should be the same.</p>
<p>It’s important to understand that banks will send you wherever they want, whenever they want. It’s not like you get a job in the LA office and they keep you there for life. You will be working for a global entity unless you work for a regional shop.</p>
<p>You will be in LA one day and they’ll need your for Bollywood deals the next. Your boss in NY can decide you’re a better fit for London. If there are big plans for you they’ll want you to get experience on different continents.</p>
<p>Unless and until you build a major franchise in an office you’re not permanent. You get an email, you pack, find new schools for the kids and you’re off unless you want to look for a new job.</p>
<p>that sounds amazing. Is this the case with like, associates or with just analysts?</p>
<p>With everyone including MDs.</p>
<p>I’ve decided that you must be mostly hyperactive to have these jobs. I’ve been on very limited activity after back surgery for months and it’s made me realize that I’ve thrived on being busy 20 hours each day. There are so many better careers if you’re not that way.</p>
<p>FYI Being told to pack up your life at the drop of a hat sounds cool when you are a student. When you’ve already been halfway around the world, and you have a life/friends/family in a certain place and you like it there, being relocated, more often than not, sucks hard. That’s why the firm pays you a pile of money just for making the move, and possibly dangles a promotion in front of you as well to help soften the blow.</p>